The trustees present their annual report and financial statements for the year ended 30 June 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 Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)".
The trust's main objectives are as follows:
The advancement of heritage by the restoration and conservation of Scottish heritage in Kolkata, India for the public benefit
The advancement of education.
The advancement of the arts and culture.
Activities identified in order to implement these objectives are:
Restoration of the Scottish Cemetery in Kolkata as an important historic site and to provide public access,
Investigation and recording of the burial history of the site for the benefit of genealogical research,
Establishment and maintenance of the Scottish Cemetery as managed open space in a densely populated part of Kolkata
Provision of training in traditional building skills to enable a programme of conservation to be carried out to individual memorials and ultimately for the wider benefit of the historic built environment,
Identification, recording, restoration and implementation of other sites and buildings in Kolkata with historic connections to Scotland
Following the completion of Phase One of the Scottish Cemetery conservation programme on 31st March 2024, the trustees expressed their appreciation and gratitude to Dr Neeta Das, principal of the conservation architectural practice NSDA together with the team of specialist contractors for delivering a resilient and technically accomplished project.
During the year the trustees were able to allocate £7,823 to restoring a further array of monuments and headstones under the supervision of NSDA. The costs of retaining the Agri-Horticultural Society of India to oversee the landscape maintenance amounted to £7,086 during the year, with a further £5,108 spent on maintenance carried out by a team led by Tinku Ghosh who kept the cemetery clean and free of garbage and also carried out essential repairs to infrastructure.
A programme of value education and enrichment - delivered within the cemetery and from the gatehouse – has been enjoyed by many children. The costs for the preceding nine months of £3,309 were met in full by the trustees.
During the year, KSHT recorded total incoming resources of £35,525 compared to £35,205 which was raised in 2022/23. We are very grateful to all our donors and record in particular the financial support of Northwood Charitable Trust, the Democracy Forum and the continuing interest shown in the project by British Association of Cemeteries in South Asia (BACSA). In carrying out our charitable objectives, the total project costs undertaken by KSHT fell to £33,835 from £36,837 in 2022/23. Support costs, which relate to currency transfers, rose to £3,063 from £2,754 spent in 2022/23. As a result, net assets increased from £12,550 to £14,240.
The organisation is a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association. Every member undertakes to contribute such an amount as may be required towards the debts and liabilities of the company in the event of its being wound up but not exceeding the sum of £1. The company was incorporated on 19th June 2008 and was granted charitable status by the Office of the Scottish Charity Regulator on 3rd October 2008.
The trustees, who are also directors for the purpose of company law, are listed below. Under the requirements of the Memorandum and Articles of Association, Board members are appointed for a period of one year after which they may be re-elected at the next AGM:
Trustees are recruited and appointed in consideration of their support for the purpose of the trust and their commitment to the trust’s objectives. The current composition of the board reflects the engagement of individual trustees – the majority of whom have visited the project in Kolkata during the year – and the relevance of their expertise and experience in regard to the Trust’s activities. The board intends to recruit further trustees as required.
Over the next 12 months the trustees are planning to undertake further necessary works to the infrastructure of the cemetery site including repairs to the boundary walls and the roof of the gatehouse. In addition, repairs will be made to the path network.
The core project team will be retained to maintain and consolidate the restored monuments and all structural features. The care of the landscape will continue to meet the standards contained in the management plan proposed by the retained biodiversity adviser, Dr. Tania Das in line with the requirements of the IGBC certification.
The trustees are considering how to reactivate a Community Programme to encourage safe and beneficial use of the restored cemetery as an urban park by the neighbourhood community, particularly for children and women; and as an essential resource for education, research, and tourism – both domestic and international.
The continued use of the cemetery records for genealogical research will be encouraged to promote interest and curiosity in the historical links between India and Scotland, and in collaboration with organisations such as BACSA, FIBIS and family history societies.
In order to guarantee the future of this important historic site, the trustees are keen to encourage the support and active involvement of local stakeholders, and appropriate heritage organisations based in India. The project already benefits from Heritage Certification as a Protected Heritage Site granted by INTACH (Indian National Trust for Art and Cultural Heritage) in acknowledgement of the restoration and maintenance of significant monuments. The trustees are keen to ensure that such a status is also recognised at an international level. Equally the project will benefit from the award of a Biodiversity Certificate, in recognition of the biodiversity plan which has been commissioned as a part of the overall landscape management programme.
Discussions will continue with the site owners, St Andrew’s Church, to reach agreement on a new Memorandum of Understanding and to encourage their active participation in the day-to-day management and operation of the project, with the longer-term goal of sharing the responsibilities of project activities.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 30 June 2024, which are set out on pages 5 to 12.
The charity’s trustees, who are also the directors of Kolkata Scottish Heritage Trust for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the 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 financial statements.
In the course of my examination, no matter has come to my attention:
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 financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Kolkata Scottish Heritage Trust is a private company limited by guarantee incorporated in Scotland. The registered office is Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE.
The financial statements have been prepared in accordance with the charity's Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
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.
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.
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.
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.
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 includes any irrecoverable VAT.
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.
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.
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, 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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Restoration & Conservation of Scottish Heritage in Kolkata
Community Engagement : Education & Employability Project
The average monthly number of employees during the year was:
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. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The trustees are free to expend the unrestricted funds of the charity as they see fit in furtherance of the charity's objects.
The restricted funds can only be used for the purposes specified by the donors.
During the year the trustees donated a total of £100 (2023 - £300) to the charity.