IRIS Accounts Production v24.3.2.46 Other Company accounts True false Pounds 1.6.23 31.5.24 31.5.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1860972023-05-31SC1860972024-05-31SC1860972023-06-012024-05-31SC1860972022-05-31SC1860972022-06-012023-05-31SC1860972023-05-31SC186097ns0:CharitableCompanyLimitedByGuarantee2023-06-012024-05-31SC186097ns15:PoundSterling2023-06-012024-05-31SC186097ns11:FRS1022023-06-012024-05-31SC186097ns11:IndependentExaminationCharity2023-06-012024-05-31SC186097ns11:SmallCompaniesRegimeForAccounts2023-06-012024-05-31SC186097ns11:FullAccounts2023-06-012024-05-31SC186097ns11:CharitiesSORP2023-06-012024-05-31SC186097ns16:EnglandWales2023-06-012024-05-31SC186097ns11:RegisteredOffice2023-06-012024-05-31SC186097ns0:Trustee32023-06-012024-05-31SC186097ns0:Trustee42023-06-012024-05-31SC186097ns0:Trustee52023-06-012024-05-31SC186097ns0:Trustee62023-06-012024-05-31SC186097ns0:Trustee72023-06-012024-05-31SC186097ns0:Trustee82023-06-012024-05-31SC186097ns0:Trustee92023-06-012024-05-31SC186097ns0:Trustee102023-06-012024-05-31SC186097ns0:Trustee112023-06-012024-05-31SC186097ns0:Trustee122023-06-012024-05-31SC186097ns0:Trustee22023-06-012024-05-31SC186097ns0:Trustee132023-06-012024-05-31SC186097ns0:Trustee12023-06-012024-05-31SC186097ns0:Trustee142023-06-012024-05-31SC186097ns0:Trustee152023-06-012024-05-31SC186097ns0:Trustee162023-06-012024-05-31SC186097ns11:CompanySecretary12023-06-012024-05-31SC186097ns0:TotalUnrestrictedFunds2023-06-012024-05-31SC186097ns0:TotalRestrictedIncomeFunds2023-06-012024-05-31SC186097ns0:TotalEndowmentFunds2023-06-012024-05-31SC186097ns0:Activity82023-06-012024-05-31SC186097ns0:TotalUnrestrictedFundsns0:Activity82023-06-012024-05-31SC186097ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-06-012024-05-31SC186097ns0:TotalEndowmentFundsns0:Activity82023-06-012024-05-31SC186097ns0:Activity82022-06-012023-05-31SC186097ns0:Activity92023-06-012024-05-31SC186097ns0:TotalUnrestrictedFundsns0:Activity92023-06-012024-05-31SC186097ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-06-012024-05-31SC186097ns0:TotalEndowmentFundsns0:Activity92023-06-012024-05-31SC186097ns0:Activity92022-06-012023-05-31SC186097ns0:Activity102023-06-012024-05-31SC186097ns0:TotalUnrestrictedFundsns0:Activity102023-06-012024-05-31SC186097ns0:Activity10ns0:TotalRestrictedIncomeFunds2023-06-012024-05-31SC186097ns0:TotalEndowmentFundsns0:Activity102023-06-012024-05-31SC186097ns0:Activity102022-06-012023-05-31SC186097ns0:TotalUnrestrictedFunds2023-05-31SC186097ns0:TotalRestrictedIncomeFunds2023-05-31SC186097ns0:TotalEndowmentFunds2023-05-31SC186097ns0:TotalUnrestrictedFunds2024-05-31SC186097ns0:TotalRestrictedIncomeFunds2024-05-31SC186097ns0:TotalEndowmentFunds2024-05-31SC186097ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-05-31SC186097ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2024-05-31SC186097ns0:TotalEndowmentFundsns10:WithinOneYear2024-05-31SC186097ns10:WithinOneYear2024-05-31SC186097ns10:WithinOneYear2023-05-31SC18609712023-06-012024-05-31SC18609722023-06-012024-05-31SC18609732023-06-012024-05-31SC18609712023-06-012024-05-31SC18609712022-06-012023-05-31SC186097ns0:TotalUnrestrictedFunds2022-06-012023-05-31SC186097ns0:TotalRestrictedIncomeFunds2022-06-012023-05-31SC186097ns0:TotalEndowmentFunds2022-06-012023-05-31SC186097ns0:TotalUnrestrictedFundsns0:Activity82022-06-012023-05-31SC186097ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-06-012023-05-31SC186097ns0:TotalEndowmentFundsns0:Activity82022-06-012023-05-31SC186097ns0:TotalUnrestrictedFundsns0:Activity92022-06-012023-05-31SC186097ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-06-012023-05-31SC186097ns0:TotalEndowmentFundsns0:Activity92022-06-012023-05-31SC186097ns0:TotalUnrestrictedFundsns0:Activity102022-06-012023-05-31SC186097ns0:Activity10ns0:TotalRestrictedIncomeFunds2022-06-012023-05-31SC186097ns0:TotalEndowmentFundsns0:Activity102022-06-012023-05-31SC186097ns10:LongLeaseholdAssetsns10:LandBuildings2023-06-012024-05-31SC186097ns10:LongLeaseholdAssetsns10:LandBuildings2024-05-31SC186097ns10:LongLeaseholdAssetsns10:LandBuildings2023-05-31
REGISTERED COMPANY NUMBER: SC186097 (Scotland)
REGISTERED CHARITY NUMBER: SC028181














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

FRIENDS OF PORTENCROSS CASTLE

FRIENDS OF PORTENCROSS CASTLE

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 15

FRIENDS OF PORTENCROSS CASTLE (REGISTERED NUMBER: SC186097)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MAY 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 31 May 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
The project is that of the consolidation of the castle as a ruin for the enjoyment of the local community and future generations.

The major restoration work has been completed. However there continues to be a requirement for regular maintenance to secure the Castle as a stable ruin and to ensure safe public access and appropriate interpretation and educational resources

The trustees, having reviewed their charitable objectives, which include holding Portencross Castle realised that the asset had not previously been included in the accounts. The Castle has now been included in the accounts at a nominal value of £1.

Volunteers
Voluntary help is not included in the accounts. A significant amount of work is undertaken on an unpaid basis by volunteers. The financial value attached to unpaid volunteer help has not been quantified and is not reflected in the financial statements. However Friend of Portencross Castle recognises and acknowledges the significant reduction in running costs achieved by the provision of such help.

FINANCIAL REVIEW
Financial position
The charity receives income from donations, grants, and fund-raising activities such as the sale of Christmas cards, raffle tickets and holding events at the Castle. During the year, the Charity also received grants from Historic Environment Scotland £31,500 and The Land Trust £11,260 to help with the maintenance costs of repairing the Castle roof and also received a grant from The May Lockhart Trust £2,291 to cover the costs of installing a WiFi connection at the Castle. The operating expenses are summaries in the Statement of Financial Activities. During the year £67,719 was spent on essential roof repairs at the Castle. The deficit for the year has been transferred to reserves. The year-end financial position is considered satisfactory.

The company is a Scottish Charity. Any donation to the charity can be made within Gift Aid and is treated net of basic rate tax, which can be recovered by the charity. The gross equivalent is allowed against higher rates for the donor. Gift Aid declaration forms are available from the Trustees.

Investment policy and objectives
There are no restrictions on the charity's power to invest. The investment strategy is set by the trustees and takes account of recent demand for funds and the quality of funding applications. The trustees consider the income requirements, the risk profile and the investment manager's view of the market prospects in the medium term. This strategy is set with the overall policy which states the funds are to be invested in the low and medium risk investments with a view to ensuring the capital appreciation of the fund exceeds inflation. The unrestricted and restricted funds may be invested in any type of investment, except tobacco companies. Our strategy is reviewed with our investment managers annually.


FRIENDS OF PORTENCROSS CASTLE (REGISTERED NUMBER: SC186097)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MAY 2024


FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain unrestricted funds of which some are designated for future maintenance of Portencross Castle, which are free reserves of the charity, at a level which equates to at least one year’s running costs, including all charitable expenditure together with fundraising, management and administration and support costs. Unrestricted reserves were maintained at this level throughout the year. The trustees are also currently reviewing the likely level of reserves required in the medium to long term with a view to the long term upkeep and maintenance of the historic building.

In 2024, the endowment fund was reclassified as a designated fund which is provided for the future maintenance of Portencross Castle.

FUTURE PLANS
The consolidation of the castle and the provision of safe access for the public was achieved in 2010. Work continues to preserve the castle and its surrounds for the enjoyment of the community and for future generations, with plans concentrated on refreshing our historical interpretation displays, updating the website and setting up a rooftop web cam feed as well as increasing our social media presence and partnerships with local schools.

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.

The Management of the Trust is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed.

Recruitment and appointment of new trustees
The Friends of Portencross Board will continue its policy of maintaining an active Board Membership of at least 8 unpaid Board Members to support its operational and strategic responsibilities (currently there are 13 Board Members).

New Board members will be recruited with a view to the specific contributions they might bring to the Board, in terms of governance, succession planning, corporate resilience and continuity, taking account of the need for balance, equity and local community representation.

Our structured induction programme covering operational and governance responsibilities will be reviewed and amended in light of feedback from new Board Members.

Induction and training of new trustees
All new trustees receive an induction pack containing details of their responsibilities. There is also an opportunity for further details and training to be given to ensure all trustees are fully conversant with their responsibilities.

Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC186097 (Scotland)

Registered Charity number
SC028181


FRIENDS OF PORTENCROSS CASTLE (REGISTERED NUMBER: SC186097)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MAY 2024


Registered office
South Banks House
Portencross
West Kilbride
Ayrshire
KA23 9QA

Trustees
Ms V Bottomley (appointed 20/3/2024)
Mr K M Bottomley (appointed 9/5/2024)
Mrs P E Buckley
Mr J F D Craik
Ms K M Crawford
Mr F Crawford
Mrs K S Fegan
Mr W V Kolon (resigned 3/5/2024)
Mrs A H N Kolon
Mr M J McAllister
Mrs A McLachlan
Ms M L Mclean (resigned 13/11/2023)
Mr S Molloy
Mrs S M M Proven (resigned 8/2/2024)
Mrs F M Duffy (appointed 10/10/2024)
Ms R K Graham (appointed 11/7/2024)

Company Secretary
Mrs A McLachlan

Independent Examiner
Galbraith Pritchards
20 Barns Street
Ayr
Ayrshire
KA7 1XA

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Friends of Portencross Castle for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


FRIENDS OF PORTENCROSS CASTLE (REGISTERED NUMBER: SC186097)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MAY 2024


Approved by order of the board of trustees on 26 February 2025 and signed on its behalf by:





Mrs A McLachlan - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
FRIENDS OF PORTENCROSS CASTLE



I report on the accounts for the year ended 31 May 2024 set out on pages six 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.








Marguerite Babette Roos
The Institute of Chartered Accountants of Scotland

Galbraith Pritchards
20 Barns Street
Ayr
Ayrshire
KA7 1XA

26 February 2025

FRIENDS OF PORTENCROSS CASTLE

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MAY 2024

31/5/24 31/5/23
Unrestricted Restricted Endowment Total Total
funds fund fund funds funds
Notes £    £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 17,508 45,051 - 62,559 23,676

Other trading activities 3 4,938 - - 4,938 -
Investment income 4 1,749 - - 1,749 1,309
Total 24,195 45,051 - 69,246 24,985

EXPENDITURE ON
Charitable activities
Preservation costs 28,593 42,760 - 71,353 3,537
Governance costs 1,084 - - 1,084 1,130
Direct charitable expenditure 13,561 2,291 - 15,852 14,468
Total 43,238 45,051 - 88,289 19,135

NET
INCOME/(EXPENDITURE)

(19,043

)

-

-

(19,043

)

5,850
Transfers between funds 12 24,399 - (24,399 ) - -
Net movement in funds 5,356 - (24,399 ) (19,043 ) 5,850

RECONCILIATION OF FUNDS
Total funds brought forward 102,757 - 24,399 127,156 121,306

TOTAL FUNDS CARRIED
FORWARD

108,113

-

-

108,113

127,156

FRIENDS OF PORTENCROSS CASTLE (REGISTERED NUMBER: SC186097)

BALANCE SHEET
31 MAY 2024

31/5/24 31/5/23
Unrestricted Restricted Endowment Total Total
funds fund fund funds funds
Notes £    £    £    £    £   
FIXED ASSETS
Tangible assets 9 1 - - 1 -

CURRENT ASSETS
Debtors 10 2,703 - - 2,703 2,584
Cash at bank 109,527 - - 109,527 126,929
112,230 - - 112,230 129,513

CREDITORS
Amounts falling due within one
year

11

(4,118

)

-

-

(4,118

)

(2,357

)

NET CURRENT ASSETS 108,112 - - 108,112 127,156

TOTAL ASSETS LESS
CURRENT LIABILITIES

108,113

-

-

108,113

127,156

NET ASSETS 108,113 - - 108,113 127,156
FUNDS 12
Unrestricted funds 108,113 102,757
Endowment funds - 24,399
TOTAL FUNDS 108,113 127,156

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.


FRIENDS OF PORTENCROSS CASTLE (REGISTERED NUMBER: SC186097)

BALANCE SHEET - continued
31 MAY 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 26 February 2025 and were signed on its behalf by:





Mr S Molloy - Trustee

FRIENDS OF PORTENCROSS CASTLE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 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.

The trustees consider that there are no material uncertainties about the charity's abilities to continue as a going concern.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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.

Income from the grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that that income will be received and the amount can be measured reliably and is not deferred.

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.

Irrecoverable vat is charged as a cost against the activity for which the expenditure was incurred.

Tangible fixed assets
The Castle has now been included in the accounts at a nominal value of £1.

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.


FRIENDS OF PORTENCROSS CASTLE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Financial instruments
The organisation only has financial assets and 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.

Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

2. DONATIONS AND LEGACIES
31/5/24 31/5/23
£    £   
Donations 12,609 21,092
Gift aid 2,524 2,584
Grants 45,051 -
Weddings 2,375 -
62,559 23,676

Grants received, included in the above, are as follows:

31/5/24 31/5/23
£    £   
Historic Environment Scotland 31,500 -
The Land Trust 11,260 -
The May Lockhart Trust 2,291 -
45,051 -

3. OTHER TRADING ACTIVITIES
31/5/24 31/5/23
£    £   
Fundraising events 4,537 -
Christmas cards 372 -
Sundry receipts 29 -
4,938 -


FRIENDS OF PORTENCROSS CASTLE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. INVESTMENT INCOME
31/5/24 31/5/23
£    £   
Bank interest received 1,749 1,309

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31/5/24 31/5/23
£    £   
Other operating leases 40 40

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.


7. STAFF COSTS

The average monthly number of employees during the year was as follows:

31/5/24 31/5/23
Operational 4 4

No employees received emoluments in excess of £60,000.

The Castle operates for only six months of the year, and the average number of employees is based on this time frame.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Endowment Total
funds fund fund funds
£    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 22,520 - 1,156 23,676

Investment income 1,244 - 65 1,309
Total 23,764 - 1,221 24,985

EXPENDITURE ON
Charitable activities
Preservation costs 3,537 - - 3,537
Governance costs 1,130 - - 1,130
Direct charitable expenditure 14,468 - - 14,468

FRIENDS OF PORTENCROSS CASTLE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Endowment Total
funds fund fund funds
£    £    £    £   
Total 19,135 - - 19,135

NET INCOME 4,629 - 1,221 5,850


RECONCILIATION OF FUNDS
Total funds brought forward 98,128 - 23,178 121,306

TOTAL FUNDS CARRIED FORWARD 102,757 - 24,399 127,156

9. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 1
NET BOOK VALUE
At 31 May 2024 1
At 31 May 2023 -

The trustees, having reviewed their charitable objectives, which include holding Portencross Castle realised that the asset had not previously been included in the accounts. The Castle and all surrounding land has now been included in the accounts at a nominal value of £1.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Other debtors 2,703 2,584


FRIENDS OF PORTENCROSS CASTLE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Accrued expenses 4,118 2,357

12. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1/6/23 in funds funds 31/5/24
£    £    £    £   
Unrestricted funds
General fund 102,757 (3,526 ) - 99,231
Designated fund - (15,517 ) 24,399 8,882
102,757 (19,043 ) 24,399 108,113
Endowment funds
Endowment fund 24,399 - (24,399 ) -

TOTAL FUNDS 127,156 (19,043 ) - 108,113

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 22,933 (26,459 ) (3,526 )
Designated fund 1,262 (16,779 ) (15,517 )
24,195 (43,238 ) (19,043 )
Restricted funds
Restricted fund 45,051 (45,051 ) -

TOTAL FUNDS 69,246 (88,289 ) (19,043 )


Comparatives for movement in funds

Net
movement At
At 1/6/22 in funds 31/5/23
£    £    £   
Unrestricted funds
General fund 98,128 4,629 102,757

Endowment funds
Endowment fund 23,178 1,221 24,399

TOTAL FUNDS 121,306 5,850 127,156

FRIENDS OF PORTENCROSS CASTLE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 23,764 (19,135 ) 4,629

Endowment funds
Endowment fund 1,221 - 1,221

TOTAL FUNDS 24,985 (19,135 ) 5,850

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1/6/22 in funds funds 31/5/24
£    £    £    £   
Unrestricted funds
General fund 98,128 1,103 - 99,231
Designated fund - (15,517 ) 24,399 8,882
98,128 (14,414 ) 24,399 108,113
Endowment funds
Endowment fund 23,178 1,221 (24,399 ) -

TOTAL FUNDS 121,306 (13,193 ) - 108,113

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 46,697 (45,594 ) 1,103
Designated fund 1,262 (16,779 ) (15,517 )
47,959 (62,373 ) (14,414 )
Restricted funds
Restricted fund 45,051 (45,051 ) -

Endowment funds
Endowment fund 1,221 - 1,221

TOTAL FUNDS 94,231 (107,424 ) (13,193 )

FRIENDS OF PORTENCROSS CASTLE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


12. MOVEMENT IN FUNDS - continued


In 2024, the endowment fund was reclassified as designated fund which is provided for the future maintenance of Portencross Castle.

The restricted fund includes the grant income from the Historic Environment Scotland and Land Trust for the essential roof repairs at the Castle, and grant income from The May Lockhart Trust for the set up of a WiFi connection at the Caste. All restricted funds were spent on their specific purposes in the year.

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 May 2024.