REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
Page |
Report of the Trustees | 1 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 |
Notes to the Financial Statements | 9 | to | 14 |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED (REGISTERED NUMBER: SC460916) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 5 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 5 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). |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED (REGISTERED NUMBER: SC460916) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 5 APRIL 2024 |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The company's objects are:- |
To protect the environment around, and to promote the culture and heritage of, the districts through which the Stranraer (via Ayr) - Kilmarnock - Gretna Green (via Dumfries) railway line runs and thus support sustainable development. Through community involvement, education and information, the organisation will support the Stranraer (via Ayr) - Kilmarnock - Gretna Green (via Dumfries) railway line by encouraging rail in preference to road travel and will seek to work with appropriate organisations, permitting the railway to play its part in overcoming physical, financial and social barriers to travel and access to employment, healthcare and social facilities including travel on the line itself to see the natural beauty of the landscape often inaccessible by other means. |
The company's objects are restricted to those above (but subject to below). |
The company may (subject to first obtaining the consent of OSCR and approval of its members) add to, remove or alter the statement of the company's objects; on any occasion when it does so, it must give notice to the Registrar of Companies and the amendment will not be effective until that notice is registered on the Register of Companies. |
Powers |
In pursuance of the objects listed the company shall have the following powers:- |
(a) To promote and develop the Stranraer (via Ayr) - Kilmarnock - Greta Green (via Dumfries) line for passenger and freight traffic in accordance with local, regional and national transportation policies. |
To provide a formal mechanism for liaising with the ScotRail franchise holder, Network Rail, other freight and train operating companies, central and local government, groups and individuals interested in the line. |
To act as a respected point of contact for local rail travellers. |
To work with local community based groups to enhance the ambience of the stations along the rail line. |
To work with the franchise operator and local tourism agencies to market the line for visitors through station adoption schemes. |
To work with local agencies to allow the rail line to play its part in overcoming barriers to economic and social inclusion. |
To assist in improving physical and modal accessibility. |
To further heritage-based activities on and along the line. |
(b) To carry on any other activities which further any of the above objects. |
(c) To promote companies whose activities may further one or more of the above objects or may generate income to support the activities of the company, acquire and hold shares in such companies and carry out, in relation to any such company which is a subsidiary of the company, all such functions as may be associated with a holding company. |
(d) To acquire and take over the whole or any part of the undertaking and liabilities of anybody holding property or rights which are suitable for the company's activities. |
(e) To purchase, take on lease, hire, or otherwise acquire, any property or rights which are suitable for the company's activities. |
f) To improve, manage, develop, or otherwise deal with, all or any part of the property and rights of the company. |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED (REGISTERED NUMBER: SC460916) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 5 APRIL 2024 |
(g) To sell, let, hire out, license, or otherwise dispose of, all or any part of the property and rights of the company. |
(h) To lend money and give credit (with or without security) and to grant guarantees and issue indemnities. |
(i) To borrow money, and to give security in support of any such borrowings by the company, in support of any guarantee issued by the company. |
(j) To employee such staff as are considered appropriate for the proper conduct of the company's activities, and to make reasonable provision for the payment of pension and/or other benefits for members of staff, ex members of staff and their dependents. |
(k) To engage such consultants and advisers as are considered appropriate from time to time. |
(l) To effect insurance of all kinds (which may include officers' liability insurance). |
(m) To invest any such funds which are not immediately required for the company's activities in such investments as may be considered appropriate (and to dispose of, and vary, such investments). |
(n) To liaise with other voluntary sector bodies, local authorities, UK or Scottish government departments and agencies, and other bodies, all of with a view to furthering the company's objects. |
(o) To establish and/or support any other charity, and to make donations for any charitable purpose falling within the company's objects. |
(p) To take such steps as may be deemed appropriate for the purpose of raising funds for the company's activities. |
(q) To accept grants, donations and legacies of all kinds (and to accept any reasonable conditions attaching to them). |
(r) To oppose, or object to, any application or proceedings which may prejudice the company's interests. |
(s) To enter into any arrangement with any organisation, government or authority which may be advantageous for the purposes of the activities of the company, and to enter into any arrangement for co-operation or mutual assistance with any charity. |
(t) To do anything which may be incidental or conducive to the furtherance of any of the company's objects. |
Restrictions on use of the company's assets |
(a) The income and property of the company shall be applied solely towards promoting the company's objects. |
(b) No part of the income or property of the company shall be paid or transferred (directly or indirectly) to the members of the company, whether by way of dividend, bonus or otherwise. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
During the period to 5 April 2024 work on a carpark at Barrhill station was completed. |
The second project is the development of two vacant rooms at Girvan station to be brought back into community use. |
FINANCIAL REVIEW |
Financial position |
At 5 April 2024, unrestricted funds had a balance of £581. |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED (REGISTERED NUMBER: SC460916) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 5 APRIL 2024 |
FINANCIAL REVIEW |
Principal funding sources |
The charity had no funding sources during the financial year. |
Reserves policy |
As at 5 April 2024 unrestricted funds amounted to £581 (2023: £2,020). The aim of the charity is to maintain reserves sufficient to meet its future obligations. |
FUTURE PLANS |
The charity hopes to continue with its activities in accordance with its constitution. |
The freight project is being actioned by Transport Scotland as part of the South West Scotland Transport Study and the charity will continue to be active in this area. |
We hope that the development of two vacant rooms at Girvan station will be progressed in conjunction with the 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 |
The company Members elect the Trustees, who are also the directors for the purposes of company law. The maximum number of directors is 12. |
Election, retiral, re-election |
At each annual general meeting, the members may (subject to the maximum number of directors being 12) elect any member (providing he/she is willing to act) to be a director. |
The directors (except those nominated by organisations below) may at any time appoint any member to be a director. |
A member which is a corporate body may nominate any individual for election/appointment as a director; he/she will then be deemed to be a member of the company. |
No more than one individual nominated by each corporate member may serve as a director at any given time. |
At each annual general meeting, all of the directors (other than any director appointed by the organisations below) shall retire from office - but shall then be eligible for re-election. |
Dumfries and Galloway Council, ScotRail, South Ayrshire Council, Strathclyde Partnership for Transport of SWestrans shall be entitled to nominate any person to serve as a director; the directors shall, at the directors' meeting, which follows receipt of any such notice, appoint the individual named in the notice as a director with immediate effect. |
Induction and training of new trustees |
New trustees undergo an appropriate induction programme to brief them on their obligations under charity and company law and the financial performance of the company. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED (REGISTERED NUMBER: SC460916) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 5 APRIL 2024 |
Registered office |
Trustees |
Independent Examiner |
Galbraith Pritchards |
20 Barns Street |
Ayr |
Ayrshire |
KA7 1XA |
TRUSTEES' RESPONSIBILITY STATEMENT |
The trustees (who are also the directors of South West Scotland Community Rail Partnership LImited 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. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
I report on the accounts for the year ended 5 April 2024 set out on pages seven to fourteen. |
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 Roos |
The Institute of Chartered Accountants of Scotland |
Galbraith Pritchards |
20 Barns Street |
Ayr |
Ayrshire |
KA7 1XA |
19 March 2025 |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 5 APRIL 2024 |
5/4/24 | 5/4/23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities | 2 |
EXPENDITURE ON |
Charitable activities | 3 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,020 |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED (REGISTERED NUMBER: SC460916) |
BALANCE SHEET |
5 APRIL 2024 |
5/4/24 | 5/4/23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 2,020 |
TOTAL FUNDS | 2,020 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 5 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. |
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 |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 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. |
The Trustees consider that there are no material uncertainties about the company's ability to continue as a going concern. |
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. |
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. |
FINANCIAL INSTRUMENTS |
The charity 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. |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
2. | INCOME FROM CHARITABLE ACTIVITIES |
5/4/24 | 5/4/23 |
Activity | £ | £ |
Grants | Grants | - | 41,482 |
Grants received, included in the above, are as follows: |
5/4/24 | 5/4/23 |
£ | £ |
Scotrail | - | 1,482 |
Carrick Futures | - | 20,000 |
Kilgallioch | - | 20,000 |
- | 41,482 |
3. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 4) | note 5) | Totals |
£ | £ | £ |
Support costs | 1,007 | 432 | 1,439 |
4. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
5/4/24 | 5/4/23 |
£ | £ |
Sundries | 180 | 372 |
Project administration | 793 | 3,399 |
Travel and subsistence | - | 321 |
Barrhill car park costs | - | 53,459 |
Confirmation statements | 34 | - |
1,007 | 57,551 |
5. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Support costs | 12 | 420 | 432 |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023. |
TRUSTEES' EXPENSES |
There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023. |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
EXPENDITURE ON |
Charitable activities |
( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | (1,371 | ) | 20,000 |
TOTAL FUNDS CARRIED FORWARD | 2,020 | - | 2,020 |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5/4/24 | 5/4/23 |
£ | £ |
Trade creditors |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 6/4/23 | in funds | 5/4/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,020 | (1,439 | ) | 581 |
TOTAL FUNDS | (1,439 | ) | 581 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (1,439 | ) | (1,439 | ) |
TOTAL FUNDS | ( |
) | (1,439 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 6/4/22 | in funds | 5/4/23 |
£ | £ | £ |
Unrestricted funds |
General fund | (1,371 | ) | 3,391 | 2,020 |
Restricted funds |
Barrhill Carpark Fund | 20,000 | (20,000 | ) | - |
TOTAL FUNDS | 18,629 | (16,609 | ) | 2,020 |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
9. | 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 | 1,482 | 1,909 | 3,391 |
Restricted funds |
Barrhill Carpark Fund | 40,000 | (60,000 | ) | (20,000 | ) |
TOTAL FUNDS | 41,482 | (58,091 | ) | (16,609 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 6/4/22 | in funds | 5/4/24 |
£ | £ | £ |
Unrestricted funds |
General fund | (1,371 | ) | 1,952 | 581 |
Restricted funds |
Barrhill Carpark Fund | 20,000 | (20,000 | ) | - |
TOTAL FUNDS | 18,629 | (18,048 | ) | 581 |
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 | 1,482 | 470 | 1,952 |
Restricted funds |
Barrhill Carpark Fund | 40,000 | (60,000 | ) | (20,000 | ) |
TOTAL FUNDS | 41,482 | (59,530 | ) | (18,048 | ) |
SOUTH WEST SCOTLAND COMMUNITY RAIL |
PARTNERSHIP LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
10. | RELATED PARTY DISCLOSURES |
11. | ULTIMATE CONTROLLING PARTY |
In the opinion of the Trustees, there is no ultimate controlling party. |