REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
For The Year Ended 30 April 2024 |
for |
The East Kilbride Community Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
For The Year Ended 30 April 2024 |
for |
The East Kilbride Community Trust |
The East Kilbride Community Trust |
Contents of the Financial Statements |
For The Year Ended 30 April 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 | 15 |
The East Kilbride Community Trust (Registered number: SC357561) |
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 |
Objectives and aims |
To advance public participation in sport in the community of East Kilbride through the promotion of participation in football and other sports which involve physical skill and exertion, by all means including providing coaching and development. |
To advance health in the community of East Kilbride by the promotion of the benefits of physical activity, provision of assistance in relation to sports related and healthy lifestyle matters and the promotion of good mental health. |
To promote community development and equality and diversity in East Kilbride by encouraging participation in sports, activities and programmes which bring together a cross section of the community, regardless of background or ability. |
To provide recreational facilities or organise recreational activities with the object of improving the conditions of life for the community of East Kilbride and also for those who have need of such facilities or would benefit from such activities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances. |
To advance education in the community of East Kilbride particularly in relation to health and fitness, sporting activity and life skills, through providing or organising educational, training and lifelong learning opportunities. |
To promote, facilitate and to provide funding and other assistance for such other community projects in the East Kilbride area which shall be of benefit to the local community or sections of the local community regardless of age, gender, ability, religion or ethnic origin. |
The main difference that the charity seeks to make through its activities is to increase the opportunities for the people of East Kilbride to improve their health and wellbeing. |
Significant activities |
The main strategies to achieve these objectives are to provide sports facilities at K Park and accessible woodland at K Woodlands together with organised events for the local community. |
Volunteers |
The charity is grateful for the help of all volunteers. It is not practicable to quantify the effect of the support from volunteers. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
East Kilbride Community Trust has two main facilities that continue to service the community. K-Park Training academy (a multi use sports stadium in Calderglen Country Park) and K-Woodlands, both in East Kilbride. |
The charity is currently reviewing methods for the measurement of success but currently consider that the regular use of its facilities is a good indicator that it is achieving its objective in the advancement of public participation in sport and the advancement of health in the East Kilbride Community. |
FINANCIAL REVIEW |
Financial position |
The financial position of the charity is as detailed in these accounts. |
Principal funding sources |
The main income sources are grants, rental income, donations and admissions charges. |
The East Kilbride Community Trust (Registered number: SC357561) |
Report of the Trustees |
For The Year Ended 30 April 2024 |
FINANCIAL REVIEW |
Reserves policy |
The trustees aim for a minimum of 3 months unrestricted reserves. |
The charity has identified unrestricted reserves relating to fixed assets and created a designated fund to separate this from general unrestricted reserves. The remaining unrestricted are sufficient to cover upcoming expenditure. |
Going concern |
The trustees do not have any significant uncertainties regarding going concern. |
FUTURE PLANS |
The charity continues to support the local community through the use of its facilities and continues to increase its |
profile in the area. |
The charity is currently exploring different avenues to continue to benefit the local community. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Any future Directors would be appointed by the existing Board. |
Organisational structure |
The charity is run by a board of trustees. |
Decision making |
Major decisions are made by the trustees. |
Induction and training of new trustees |
The current directors were fully involved in the formation of the company and fully understand the charity's objectives and their duties as company directors and charity trustees. For any future directors, there will be a structured induction programme to ensure they fully understand the company's operations. |
Key management remuneration |
The trustees set the remuneration of key management personnel based on level of responsibility and market rates. |
Related parties |
Any transactions with related parties are disclosed in the notes to the accounts. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
The East Kilbride Community Trust (Registered number: SC357561) |
Report of the Trustees |
For The Year Ended 30 April 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Company Secretary |
Independent Examiner |
Atkinson Donnelly LLP |
1 Cambuslang Court |
Cambuslang |
Glasgow |
Strathclyde |
G32 8FH |
Bankers |
East Kilbride S/C |
East Kilbride |
G74 4NF |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
The East Kilbride Community Trust |
I report on the accounts for the year ended 30 April 2024 set out on pages five to fifteen. |
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. |
Michael Donnelly |
The Institute of Chartered Accountants of Scotland |
Atkinson Donnelly LLP |
1 Cambuslang Court |
Cambuslang |
Glasgow |
Strathclyde |
G32 8FH |
31 January 2025 |
The East Kilbride Community Trust |
Statement of Financial Activities |
For The Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,572,153 |
The East Kilbride Community Trust (Registered number: SC357561) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS | ( |
) | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 12 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds | 1,439,764 |
Restricted funds | 132,389 |
TOTAL FUNDS | 1,572,153 |
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. |
The East Kilbride Community Trust (Registered number: SC357561) |
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 |
The East Kilbride Community Trust |
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. |
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant. |
The transactions are recorded in £ sterling. |
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 | - |
Long leasehold | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
The trustees review the fixed assets annually to identify impairment and where this is significant will make an adjustment to the carrying value in the financial statements. |
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. |
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. |
The East Kilbride Community Trust |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
1. | ACCOUNTING POLICIES - continued |
Debtors |
Trade debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
Cash at bank and in hand |
Cash at bank and in hand includes cash and short term liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
Creditors and provisions |
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due. |
Employee benefits will be accrued where this represents a significant cost not claimed in the period. |
Financial Instruments |
The charity 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 with the exception of bank loans which are subsequently measured at their amortised cost using the effective interest method. |
Grants |
The charity activities may include the awarding of grants in line with its charitable objects. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
2. | DONATIONS AND LEGACIES |
30.4.24 | 30.4.23 |
£ | £ |
Donations |
Grants |
Grants received, included in the above, are as follows: |
30.4.24 | 30.4.23 |
£ | £ |
Other grants | 56,018 | 39,877 |
The East Kilbride Community Trust |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
3. | INCOME FROM CHARITABLE ACTIVITIES |
30.4.24 | 30.4.23 |
Activity | £ | £ |
Admission fees | Charitable | 77,182 | 56,085 |
Other income | Charitable | 1,256 | 708 |
Rental income | Charitable | 37,295 | 18,392 |
4. | RAISING FUNDS |
Investment management costs |
30.4.24 | 30.4.23 |
£ | £ |
Property repairs |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.4.24 | 30.4.23 |
£ | £ |
Depreciation - owned assets |
6. | 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. |
7. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
30.4.24 | 30.4.23 |
General |
The East Kilbride Community Trust |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | (1,201 | ) | 1,201 | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,699,166 | 134,341 |
TOTAL FUNDS CARRIED FORWARD | 1,439,764 | 132,389 | 1,572,153 |
9. | TANGIBLE FIXED ASSETS |
Freehold | Long | Plant and |
property | leasehold | machinery |
£ | £ | £ |
COST |
At 1 May 2023 and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
The East Kilbride Community Trust |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
9. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2023 and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade creditors |
Social security and other taxes |
VAT | 3,750 | - |
Other creditors |
Accrued expenses |
The East Kilbride Community Trust |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other loans (see note 13) | 209,692 |
13. | LOANS |
An analysis of the maturity of loans is given below: |
30.4.24 | 30.4.23 |
£ | £ |
Amounts falling between one and two years: |
Loan from trustee | 209,692 | 209,692 |
14. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.5.23 | in funds | 30.4.24 |
£ | £ | £ |
Unrestricted funds |
General fund | (317,238 | ) | 7,118 | (310,120 | ) |
Designated fixed asset reserve | 1,757,002 | (37,884 | ) | 1,719,118 |
(30,766 | ) |
Restricted funds |
K-Woodlands Asset Reserve | 132,389 | (5,269 | ) | 127,120 |
TOTAL FUNDS | (36,035 | ) | 1,536,118 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 172,094 | (164,976 | ) | 7,118 |
Designated fixed asset reserve | - | (37,884 | ) | (37,884 | ) |
( |
) | (30,766 | ) |
Restricted funds |
K-Woodlands Asset Reserve | - | (5,269 | ) | (5,269 | ) |
TOTAL FUNDS | ( |
) | (36,035 | ) |
The East Kilbride Community Trust |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
14. | 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 | 54,948 | (212,186 | ) | (159,999 | ) | (317,237 | ) |
Designated fixed asset reserve | 1,644,218 | (46,015 | ) | 158,798 | 1,757,001 |
1,699,166 | (258,201 | ) | (1,201 | ) | 1,439,764 |
Restricted funds |
K-Woodlands Asset Reserve | 134,341 | (3,153 | ) | 1,201 | 132,389 |
TOTAL FUNDS | 1,833,507 | (261,354 | ) | - | 1,572,153 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 125,828 | (338,014 | ) | (212,186 | ) |
Designated fixed asset reserve | 1 | (46,016 | ) | (46,015 | ) |
125,829 | (384,030 | ) | (258,201 | ) |
Restricted funds |
K-Woodlands Asset Reserve | 1 | (3,154 | ) | (3,153 | ) |
TOTAL FUNDS | 125,830 | (387,184 | ) | (261,354 | ) |
15. | RELATED PARTY DISCLOSURES |
At the year end, there was a loan outstanding due to a trustee, J.H. Kean of £209,692 (2023: £209,692). |
16. | KEY MANAGEMENT PERSONNEL |
The Trust considers its key management personnel comprise the trustees. |
In the year to 30 April 2024 NIL payments were made to key management personnel. |
The East Kilbride Community Trust |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
17. | FUND DESCRIPTIONS |
K-Woodlands Asset Reserve - This funds represents the contribution made from grant funding towards the costs of creating the K-Woodlands area and agrees to the net book value of the assets acquired using that funding. . The fund will be used to offset the annual depreciation cost of the project over 25 years. |
Designated Fixed Asset Reserve - This fund represents the net book value of all assets other than those funded by restricted grants.The fund will be used to offset the annual depreciation cost of these assets over their expected life. |