Charity registration number SC051148 (Scotland)
Company registration number SC654315
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
John Alexander
David Milne
David Dorward
John Martin
Lynne Short
Charity number (Scotland)
SC051148
Company number
SC654315
Registered office
2 Fairfield Street
Dundee
DD3 8HY
Auditor
Findlays Audit Limited
11 Dudhope Terrace
Dundee
DD3 6TS
Bankers
Bank of Scotland
65-69 Murraygate
Dundee
DD1 2EA
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
CONTENTS
Page
Trustees' report
1 - 3
Statement of trustees' responsibilities
4
Independent auditor's report
5 - 8
Statement of financial activities
9 - 10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13 - 27
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The directors, who are also the trustees of the charitable company for the purposes of charity law, submit their annual report and the financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The charitable company’s objectives are:

• To contribute to the advancement of community, development and education by creating an affordable space that the community and other organisations can use and by creating training opportunities within the construction industry;

• The prevention or relief of poverty and the relief for those in need through the provision of food distribution in the community, with the intention of improving quality of life.

Achievements and performance
Significant activities and achievements against objectives

Alexander Community Development has come out of Post Covid with a good foundation for the years ahead, however we faced many challenges throughout the year as many businesses and charities encountered in the unprecedented times we faced.

The partnerships and collaborations we have created ACD will develop and grow over the course of the years ahead. The partnerships we have developed with DWP, local schools and charities means we have created a strong base of clients to work with.

Dundee City Council has awarded ACD a small "Multiply" contract commencing in November 2024, which is anticipated to expand significantly over the next five years.

The vision for the future will see us develop and grow our services as we continue to support the people of the city.

Financial review

The financial results are set out in the statement of financial activities on page 9.

Subsidiary Trades For All Limited was incorporated on 17 August 2021 as a wholly owned trading subsidiary of Alexander Community Development Limited for the purpose of supporting Alexander Community Development Limited through the generation of additional revenue. In February 2024, the shares held by Alexander Community Development Limited in Trades for All Limited were transferred and therefore Trades for All Limited are no longer part of the group.

Reserves policy

The reserves policy is to have unrestricted funds not committed or invested in tangible fixed assets equating to approximately 3 months unrestricted funds expenditure. For the charity this equates to £95,932 (2023 - £52,862). On 31 March 2024 the unrestricted reserve not invested in tangible fixed assets for the charity equated to £22,073 (2023 restated - £4,821). The reserves have been turned around from a negative position to a positive over the last few years, but we appreciate it does not yet meet with the reserve policy set. The Directors acknowledge this is an objective and we believe the statements made are sufficient. The reserves policy has not been met in the year and the directors are addressing this as a matter of urgency.

Total reserves as of 31 March 2024 for the charity were £28,767 (2023 - £12,462 as restated) of which included unrestricted reserves of £22,192 (2023 restated – £9,195) and restricted reserves of £6,575(2023 restated- £3,267).

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Investment policy

The directors have the power to invest the monies of the charitable company, not immediately required for the furtherance of its objects, in such investments, securities or property as may be thought fit, subject to such conditions and consents as may be imposed or required by law.

The directors have assessed the major risks to which Alexander Community Development Limited is exposed, in particular those related to the operations and finances of the charitable company and are satisfied systems have been put in place to mitigate the charitable company’s exposure to the major risks. These procedures are periodically reviewed to ensure that they continue to meet the needs of Alexander Community Development Limited.

 

Structure, governance and management

The charity is a charitable company, registered in Scotland and is limited by guarantee, having no share capital. The charitable company is governed by a memorandum and articles of association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

John Alexander
David Milne
David Dorward
John Martin
Lynne Short
Recruitment and appointment of trustees

All office bearers shall cease to hold office at each AGM but shall then be eligible for re-election.

The directors are responsible for the overall strategy of the charitable company and are responsible for approving policies and the direction of the charitable company.

The directors are also the company’s members and comprise the board. The board holds regular meetings during the year, and generally controls and supervises the activities of the charitable company. In particular, the directors are responsible for monitoring and controlling the financial position of the charitable company.

Induction and training of trustees

The directors have considered a policy on director induction and training prior to new directors being approached. This includes awareness of a directors’ responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charitable company. A new director receives copies of the previous year’s financial statements, minutes of directors’ meetings and a copy of the OSCR leaflet “Guidance and Good Practice for Charity Trustees”.

Remuneration policy

The directors consider the board of directors and chief operating officer to be the key management personnel of the charitable company, in charge of directing and controlling the charitable company. Details of key management personnel remuneration is detailed in note 12 of the financial statements.

Directors are required to disclose all relevant interests and register them with the chief operating officer and in accordance with the charitable company’s policy withdraw from decisions where a conflict of interest arises.

Other matters

The directors may call a general meeting at any time, with a minimum requirement of each quarter. The business of a general meeting shall include a report by the chair and the financial position of the organisation.

Auditor

In accordance with the company's articles, a resolution proposing that Findlays Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

David Dorward
Trustee
6 March 2025
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

The trustees, who are also the directors of Alexander Community Development Limited for the purpose of company law, are responsible for preparing the Trustees' Report 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ALEXANDER COMMUNITY DEVELOPMENT LIMITED
- 5 -

Opinion

We have audited the financial statements of Alexander Community Development Limited (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALEXANDER COMMUNITY DEVELOPMENT LIMITED
- 6 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

-

the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

-

the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

-

proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of trustees' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit; or

-

the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material mis-statements in respect of irregularities, including fraud and non-compliance with laws and regulations is detailed below.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALEXANDER COMMUNITY DEVELOPMENT LIMITED
- 7 -

The audit team has appropriate skills and expertise required and through discussions with management and Directors knowledge of the sector to ensure any non compliance is recognised and all necessary disclosures are made the controls in place help the company mitigate the risk of fraud and also aids them in highlighting any instances of fraud that might have occurred.

 

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

• Making enquiries of management about any known or suspected instances of non compliance with laws and regulations, including GDPR, health and safety, employment law and fraud.

• Enquires of management as to where they consider there is a susceptibility to fraud and their knowledge of how actual, suspected and alleged fraud might occur.

• Review of any correspondence with regulators including OSCR.

• Challenging assumptions and judgements made by management in their significant accounting estimates.

• Auditing the risk of management override controls, including through testing of journal entries and other judgments for appropriateness.

• Review of any areas where there is potential of management bias, large & unusual transactions and the risk of undisclosed related parties.

• Performed analytical procedures to identify any unusual transactions

• Review of board minutes

Because of the field in which the client operates we identified the following areas as those most likely to have a material impact on the financial statements;

 

Direct Impact on Financial Statements

• Companies Act 2006/FRS102 Accounting Standards

• International Standards on Auditing (UK)/Accounting Standards

• Grants with conditions

• PAYE

• Pension

 

Indirect Impact on Financial Statements

• Employment laws

• Health & Safety Act

• GDPR

• OSCR

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALEXANDER COMMUNITY DEVELOPMENT LIMITED
- 8 -

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Lesley Campbell, BA, C.A. (Senior Statutory Auditor)
For and on behalf of Findlays Audit Limited
Chartered Accountants
11 Dudhope Terrace
Dundee
DD3 6TS
6 March 2025

Findlays Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
Restated
2024
2024
2024
2023
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
3
17,004
-
17,004
12,000
Charitable activities
4
379,630
115,000
494,630
321,632
Other trading activities
5
-
-
-
1,550
Investments
6
90
-
90
-
Other income
7
-
-
-
16,348
Total income
396,724
115,000
511,724
351,530
Expenditure on:
Charitable activities
8
383,727
111,692
495,419
357,437
Total expenditure
383,727
111,692
495,419
357,437
Net income/(expenditure)
12,997
3,308
16,305
(5,907)
Net movement in funds
10
12,997
3,308
16,305
(5,907)
Reconciliation of funds:
Fund balances at 1 April 2023
9,195
3,267
12,462
18,369
Fund balances at 31 March 2024
22,192
6,575
28,767
12,462

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 13 to 27 form part of these financial statements.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
Restated
2023
2023
2023
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
12,000
-
12,000
Charitable activities
4
182,935
138,697
321,632
Other trading activities
5
1,550
-
1,550
Other income
7
16,348
-
16,348
Total income
212,833
138,697
351,530
Expenditure on:
Charitable activities
8
185,204
172,233
357,437
Total expenditure
185,204
172,233
357,437
Net income/(expenditure)
27,629
(33,536)
(5,907)
Transfers between funds
(1,335)
1,335
-
Net movement in funds
10
26,294
(32,201)
(5,907)
Reconciliation of funds:
Fund balances at 1 April 2022
(17,099)
35,468
18,369
Fund balances at 31 March 2023
9,195
3,267
12,462
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 11 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
14
1,694
7,641
Investments
15
-
1
1,694
7,642
Current assets
Stocks
16
-
5,000
Debtors
17
98,140
47,180
Cash at bank and in hand
1,207
19,028
99,347
71,208
Creditors: amounts falling due within one year
19
(58,985)
(41,709)
Net current assets
40,362
29,499
Total assets less current liabilities
42,056
37,141
Creditors: amounts falling due after more than one year
20
(13,289)
(24,679)
Net assets
28,767
12,462
The funds of the charity
Restricted income funds
22
6,575
3,267
Unrestricted funds
23
22,192
9,195
28,767
12,462

The notes on pages 13 to 27 form part of these financial statements.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The financial statements were approved by the trustees on 6 March 2025
David Dorward
Trustee
Company registration number SC654315 (Scotland)
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
2024
2023
Notes
£
£
£
£
Restated
Cash flows from operating activities
Cash absorbed by operations
27
(10,529)
(2,322)
Investing activities
Proceeds from disposal of tangible fixed assets
4,007
781
Proceeds from disposal of subsidiaries
1
-
Investment income received
90
-
Net cash generated from investing activities
4,098
781
Financing activities
Repayment of bank loans
(11,390)
(9,302)
Net cash used in financing activities
(11,390)
(9,302)
Net decrease in cash and cash equivalents
(17,821)
(10,843)
Cash and cash equivalents at beginning of year
19,028
29,871
Cash and cash equivalents at end of year
1,207
19,028

The notes on pages 13 to 27 form part of these financial statements.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
1
Accounting policies
Charity information

Alexander Community Development Limited is a company limited by guarantee incorporated in Scotland and does not have share capital. In the event of the charitable company being wound up, the liability of each member is limited to £1. The members of the charitable company are the directors as included on page 1,

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Prior period error

The financial statements for YE23 have been restated for restricted expenditure which had incorrectly been allocated as unrestricted expenditure and to account for employers allowance claimed after the year end. A detailed review of the impact of these changes can be found within note 29.

1.3
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.5
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 14 -
1.6
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

The charitable company has a policy of writing off all expenditure on fixed assets up to a value of £1,000. Expenditure over £1,000 is capitalised.

1.8
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 15 -
1.11
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.13
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
2
Critical accounting estimates and judgements

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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
Depreciation

Tangible fixed assets are depreciated over a period to reflect their estimated useful life. The applicability of the assumed lives Is reviewed annually, taking into account factors such a physical condition, maintenance and obsolescence.

Accruals

Accruals are applied at the year end based upon financial costs received post year end and the experience of the directors.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
17,004
12,000
4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Charitable income
DCC Food Support Income
235,090
-
235,090
-
7,400
7,400
Transition to Trade
126,540
-
126,540
109,568
-
109,568
Government Grants
18,000
115,000
133,000
73,367
131,297
204,664
379,630
115,000
494,630
182,935
138,697
321,632
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4
Income from charitable activities
(Continued)
- 17 -
Government Grants
Charitable income
Charitable income
2024
2023
£
£
Dundee City Council
65,000
80,141
The National Lottery
35,000
33,333
Northwood Charitable Trust
18,000
18,000
The Rank Foundation
15,000
25,596
Kickstart
-
29,094
The Matthew Trust
-
12,500
Hillcrest Foundation
-
5,000
WM Sword
-
1,000
(133,000)
(204,664)
5
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other trading income
-
1,550
6
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
90
-
7
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
-
16,348
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
8
Expenditure on charitable activities
2024
2023
£
£
Direct costs
Staff costs
163,981
214,482
Depreciation and impairment
1,940
4,299
Direct costs
19,924
23,523
Staff training
1,895
5,371
Computer costs
2,902
6,474
Motor costs
5,793
12,099
Professional subscriptions
3,303
3,677
Consultancy
17,545
6,125
Bank charges
91
118
Loss on disposal of fixed asset
4,007
781
Rent, rates and insurance
23,259
20,105
Printing, postage and stationary
955
927
Food costs
233,482
26,088
Telephone
1,906
1,163
Bounceback loan interest
777
1,049
Accountancy
1,607
13,774
Sundry
1,592
11,382
484,959
351,437
Share of support and governance costs (see note 9)
Governance
10,460
6,000
495,419
357,437
Analysis by fund
Unrestricted funds
383,727
185,204
Restricted funds
111,692
172,233
495,419
357,437
9
Support costs allocated to activities
2024
2023
£
£
Governance costs
10,460
6,000
Analysed between:
Audit fees
10,460
6,000
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 19 -
10
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
10,460
6,000
Depreciation of owned tangible fixed assets
1,940
4,299
11
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

12
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
6
8
Employment costs
2024
2023
£
£
Wages and salaries
154,407
196,540
Social security costs
5,015
12,275
Other pension costs
4,559
5,667
163,981
214,482
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
41,320
92,784
13
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
14
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
3,924
11,969
15,893
Disposals
-
(6,869)
(6,869)
At 31 March 2024
3,924
5,100
9,024
Depreciation and impairment
At 1 April 2023
3,202
5,050
8,252
Depreciation charged in the year
665
1,275
1,940
Eliminated in respect of disposals
-
(2,862)
(2,862)
At 31 March 2024
3,867
3,463
7,330
Carrying amount
At 31 March 2024
57
1,637
1,694
At 31 March 2023
722
6,919
7,641
15
Fixed asset investments
Other investments
£
Cost or valuation
At 1 April 2023
1
Disposals
(1)
At 31 March 2024
-
Carrying amount
At 31 March 2024
-
At 31 March 2023
1
2024
2023
Other investments comprise:
Notes
£
£
Investments in subsidiaries
-
1
16
Stocks
2024
2023
£
£
Raw materials and consumables
-
5,000
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
17
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
31,147
10,117
Amounts owed by subsidiary undertakings
-
26,272
Other debtors
32,417
-
Prepayments and accrued income
34,576
10,791
98,140
47,180
18
Loans and overdrafts
2024
2023
£
£
Bank loans
24,679
36,069
Payable within one year
11,390
11,390
Payable after one year
13,289
24,679
19
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
18
11,390
11,390
Other taxation and social security
5,793
10,188
Trade creditors
3,956
5,020
Accruals and deferred income
37,846
15,111
58,985
41,709
20
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
18
13,289
24,679
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
4,559
5,667

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
22
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023
Incoming resources
Resources expended
Transfers
At 31 March 2024
£
£
£
£
£
Dundee City Council - Capital Grant
2,475
-
(900)
-
1,575
NHS Forklift and Freezer
437
-
(437)
-
-
Alexander Moncur
355
-
(355)
-
-
Dundee City Council
-
65,000
(65,000)
-
-
Rank Foundation
-
15,000
(10,000)
-
5,000
National Lottery
-
35,000
(35,000)
-
-
3,267
115,000
(111,692)
-
6,575
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
Dundee City Council - Capital Grant
3,375
-
(900)
-
2,475
NHS Forklist and Freezer
1,593
-
(1,156)
-
437
Alexander Moncur
1,355
-
(1,000)
-
355
DCC Common Good Food
-
59,150
(59,150)
-
-
The Matthew Trust
10,333
12,500
(22,833)
-
-
Rank Foundation
18,812
5,596
(24,408)
-
-
Kickstart Scheme
-
5,118
(5,118)
-
-
Hillcrest Foundation
-
5,000
(5,000)
-
-
National Lottery
-
33,333
(33,333)
-
-
Northwood Trust
-
18,000
(19,335)
1,335
-
35,468
138,697
(172,233)
1,335
3,267
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
22
Restricted funds
(Continued)
- 23 -

Dundee City Council Capital Grant – Money received towards the purchase of a van.

 

NHS Forklift and Freezer Capital Grant – Money received towards the purchase of a forklift and freezer.

 

Alexander Moncur Capital Grant – Money received towards the purchase of laptops.

 

Dundee City Council – Money received from Dundee City Council towards the food distribution programme and the Transition to Trade project.

 

Mathew Trust – Money received towards salary costs.

 

The Rank Foundation – Money received towards the marketing and OneDrive services and support and jigsaw media costs. Money received towards salary, travel overheads and transition to trade.

 

Kickstart – Money received for employing individuals aged 16-24 years old.

 

Hillcrest Foundation – Money received towards transition to trade costs.

 

National Lottery - Money received towards transition to trade costs.

 

Northwood Trust – Money received towards salary costs.

23
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.

At 1 April 2023
Incoming resources
Resources expended
Transfers
At 31 March 2024
£
£
£
£
£
General funds
9,195
396,724
(383,727)
-
22,192
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
General funds
(17,099)
212,833
(185,204)
(1,335)
9,195
24
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
119
1,575
1,694
Current assets/(liabilities)
35,362
5,000
40,362
Long term liabilities
(13,289)
-
(13,289)
22,192
6,575
28,767
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
24
Analysis of net assets between funds
(Continued)
- 24 -
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
4,374
3,267
7,641
Investments
1
-
1
Current assets/(liabilities)
29,499
-
29,499
Long term liabilities
(24,679)
-
(24,679)
9,195
3,267
12,462
25
Capital commitments
2024
2023
£
£

Amounts contracted for but not provided in the financial statements:

2024
2023
£
£
Acquisition of a motor vehicle
24,576
-
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 25 -
26
Related party transactions
Transactions with related parties

During the year the charity entered into the following transactions with related parties:

J Alexander is a director of Alexander Decorators Limited. Income of £nil (2023 - £275) was received from Alexander Decorators Limited and expenses of £nil (2023 - £3,494) was paid in the year. Donations in kind was also received and spent in relation to rent of £12,000 (2023 - £12,000).

 

J Alexander is a director of Advanced Training Solutions (Scotland) Limited. Expenses of £5,000 (2023 - £5,236) was paid to Advanced Training Solutions (Scotland) Limited in the year.

 

Income of £nil (2023 – £4,355) was received from Dundee Bairns, D Dorward is a Trustee/Chairperson.

 

J Alexander is a director of Trades For All Limited. At the year end the balance due from Trades For All Limited was £33,795 (2023 -£26,272). Interest has been charged on the loan balance at bank base rate.

 

Last year Trades for All Limited was a subsidiary of the charity and there was management charges amounting to £14,875. No such charges have been incurred this year.

 

D Dorward is a Trustee of the Rank Foundation. During the year £nil(2023 - £11,250) was received from The Rank Foundation.

 

J Alexander, who is a Trustee of Alexander Community Development Limited, received remuneration, equitable to his contract of employment for duties out with his role as Trustee, with his salary authorised by the Board.

ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 26 -
27
Cash absorbed by operations
2024
2023
£
£
Surplus/(deficit) for the year
16,305
(5,907)
Adjustments for:
Investment income recognised in statement of financial activities
(90)
-
Depreciation and impairment of tangible fixed assets
1,940
4,299
Movements in working capital:
Decrease in stocks
5,000
-
(Increase) in debtors
(50,960)
(18,271)
Increase in creditors
17,276
17,557
Cash absorbed by operations
(10,529)
(2,322)
28
Analysis of changes in net (debt)/funds
At 1 April 2023
Cash flows
At 31 March 2024
£
£
£
Cash at bank and in hand
19,028
(17,821)
1,207
Loans falling due within one year
(11,390)
-
(11,390)
Loans falling due after more than one year
(24,679)
11,390
(13,289)
(17,041)
(6,431)
(23,472)
ALEXANDER COMMUNITY DEVELOPMENT LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 27 -
29
Prior period adjustment
Changes to the balance sheet
At 31 March 2023
As previously reported
Adjustment
As restated
£
£
£
Creditors due within one year
Taxation
(15,188)
5,000
(10,188)
Capital funds
Income funds
Restricted funds
29,511
(26,244)
3,267
Unrestricted funds
(22,049)
31,244
9,195
Total equity
7,462
5,000
12,462
Changes to the profit and loss account
Period ended 31 March 2023
As previously reported
Adjustment
As restated
£
£
£
Charitable activities
362,437
(5,000)
357,437
Net movement in funds
(10,907)
5,000
(5,907)
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