IRIS Accounts Production v25.1.0.734 Other Company accounts True false Pounds 1.11.23 31.10.24 31.10.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1239182023-10-31SC1239182024-10-31SC1239182023-11-012024-10-31SC1239182022-10-31SC1239182022-11-012023-10-31SC1239182023-10-31SC123918ns0:CharitableCompanyLimitedByGuarantee2023-11-012024-10-31SC123918ns15:PoundSterling2023-11-012024-10-31SC123918ns11:FRS1022023-11-012024-10-31SC123918ns11:IndependentExaminationCharity2023-11-012024-10-31SC123918ns11:SmallCompaniesRegimeForAccounts2023-11-012024-10-31SC123918ns11:FullAccounts2023-11-012024-10-31SC123918ns11:CharitiesSORP2023-11-012024-10-31SC123918ns16:EnglandWales2023-11-012024-10-31SC123918ns11:RegisteredOffice2023-11-012024-10-31SC123918ns0:Trustee12023-11-012024-10-31SC123918ns0:Trustee22023-11-012024-10-31SC123918ns0:Trustee32023-11-012024-10-31SC123918ns0:Trustee42023-11-012024-10-31SC123918ns0:Trustee52023-11-012024-10-31SC123918ns0:Trustee62023-11-012024-10-31SC123918ns0:Trustee72023-11-012024-10-31SC123918ns0:Activity82023-11-012024-10-31SC123918ns0:Activity82022-11-012023-10-31SC123918ns10:WithinOneYear2024-10-31SC123918ns10:WithinOneYear2023-10-31SC123918ns0:TotalUnrestrictedFunds2024-10-31SC123918ns10:PlantMachinery2023-11-012024-10-31SC123918ns10:FurnitureFittingsToolsEquipment2023-11-012024-10-31SC123918ns10:ComputerEquipment2023-11-012024-10-31SC12391822023-11-012024-10-31SC12391832023-11-012024-10-31SC123918ns10:PlantMachinery2023-10-31SC123918ns10:FurnitureFittings2023-10-31SC123918ns10:ComputerEquipment2023-10-31SC123918ns10:FurnitureFittings2023-11-012024-10-31SC123918ns10:PlantMachinery2024-10-31SC123918ns10:FurnitureFittings2024-10-31SC123918ns10:ComputerEquipment2024-10-31SC123918ns10:PlantMachinery2023-10-31SC123918ns10:FurnitureFittings2023-10-31SC123918ns10:ComputerEquipment2023-10-31
REGISTERED COMPANY NUMBER: SC123918 (Scotland)
REGISTERED CHARITY NUMBER: SC017787















Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 October 2024

for

New Pitsligo Community Business Limited

New Pitsligo Community Business Limited






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 11

New Pitsligo Community Business Limited (Registered number: SC123918)

Report of the Trustees
for the Year Ended 31 October 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 October 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 objective of the charity is to provide support for community groups.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
We continue to lease the building the Charity owns at 70 High Street, New Pitsligo. The contract runs until 2027 and is our main source of income. The Tenants use the building to operate as an Indian restaurant, providing a welcomed service to the community as well as employing local people.

Donations this year were made to a number of local organisations including, the Public Hall, Bowling Club, Lace Club, Two's Group, Pavillion, Mum and Toddlers Group, Rainbows, Girl Guides, Brownies, Football Club, Junior, Senior and Company Section Boys Brigade and Adventurz Children's Entertainment and the Lego Club. All were greatly appreciated.

Seven Trustees currently remain on the Board.

On behalf of the trustees

Brenda White
Trustee

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.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC123918 (Scotland)

Registered Charity number
SC017787

Registered office
70 High Street
New Pitsligo
Fraserburgh
Aberdeenshire
AB43 6NL

Trustees
Mrs B White Housewife
Mrs A Smith Catering Trainer
Mrs E K Campbell Clerical Assistant
Mrs K A Chapman Housewife
Mrs L A Tawse Director
Mrs J E Gerrard Director
Ms J Whyte Grocer + Deli Owner


New Pitsligo Community Business Limited (Registered number: SC123918)

Report of the Trustees
for the Year Ended 31 October 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
R Birnie FCCA
SBP
Accountants
27 Finlayson Street
Fraserburgh
Aberdeenshire
AB43 9JQ

Approved by order of the board of trustees on 2 April 2025 and signed on its behalf by:





Mrs B White - Trustee

Independent Examiner's Report to the Trustees of
New Pitsligo Community Business Limited

I report on the accounts for the year ended 31 October 2024 set out on pages four to eleven.

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.








R Birnie FCCA
The Association of Chartered Certified Accountants

SBP
Accountants
27 Finlayson Street
Fraserburgh
Aberdeenshire
AB43 9JQ

2 April 2025

New Pitsligo Community Business Limited

Statement of Financial Activities
for the Year Ended 31 October 2024

31.10.24 31.10.23
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM

Investment income 2 10,642 10,431

EXPENDITURE ON
Charitable activities
Donations 2,600 2,500

Other 3,085 8,552
Total 5,685 11,052

NET INCOME/(EXPENDITURE) 4,957 (621 )


RECONCILIATION OF FUNDS
Total funds brought forward 201,363 201,984

TOTAL FUNDS CARRIED FORWARD 206,320 201,363

New Pitsligo Community Business Limited (Registered number: SC123918)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 6 493 616
Investment property 7 154,436 154,436
154,929 155,052

CURRENT ASSETS
Cash at bank 54,078 49,681

CREDITORS
Amounts falling due within one year 8 (2,687 ) (3,370 )

NET CURRENT ASSETS 51,391 46,311

TOTAL ASSETS LESS CURRENT
LIABILITIES

206,320

201,363

NET ASSETS 206,320 201,363
FUNDS 9
Unrestricted funds 206,320 201,363
TOTAL FUNDS 206,320 201,363

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


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


New Pitsligo Community Business Limited (Registered number: SC123918)

Balance Sheet - continued
31 October 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 2 April 2025 and were signed on its behalf by:





Mrs B White - Trustee

New Pitsligo Community Business Limited

Notes to the Financial Statements
for the Year Ended 31 October 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.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Equipment - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Investment property
The investment property is reported at cost.

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.

Debtors and creditors receivable /payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative costs.

New Pitsligo Community Business Limited

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. INVESTMENT INCOME
31.10.24 31.10.23
£    £   
Rents received 9,500 9,500
Property insurance contribution 1,142 931
10,642 10,431

3. NET INCOME/(EXPENDITURE)

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

31.10.24 31.10.23
£ £
Depreciation - owned assets 123 154

4. TRUSTEES' REMUNERATION AND BENEFITS

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


Trustees' expenses

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


5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM

Investment income 10,431

EXPENDITURE ON
Charitable activities
Donations 2,500

Other 8,552
Total 11,052

NET INCOME/(EXPENDITURE) (621 )


RECONCILIATION OF FUNDS
Total funds brought forward 201,984

TOTAL FUNDS CARRIED FORWARD 201,363

New Pitsligo Community Business Limited

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023 and 31 October 2024 36,875 21,594 460 58,929
DEPRECIATION
At 1 November 2023 36,469 21,384 460 58,313
Charge for year 81 42 - 123
At 31 October 2024 36,550 21,426 460 58,436
NET BOOK VALUE
At 31 October 2024 325 168 - 493
At 31 October 2023 406 210 - 616

7. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 154,436
NET BOOK VALUE
At 31 October 2024 154,436
At 31 October 2023 154,436

The investment property is reported at original cost.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors - 733
Accrued expenses 2,687 2,637
2,687 3,370

9. MOVEMENT IN FUNDS
Net
At movement At
1.11.23 in funds 31.10.24
£    £    £   
Unrestricted funds
General fund 201,363 4,957 206,320

TOTAL FUNDS 201,363 4,957 206,320

New Pitsligo Community Business Limited

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 10,642 (5,685 ) 4,957

TOTAL FUNDS 10,642 (5,685 ) 4,957


Comparatives for movement in funds

Net
At movement At
1.11.22 in funds 31.10.23
£    £    £   
Unrestricted funds
General fund 201,984 (621 ) 201,363

TOTAL FUNDS 201,984 (621 ) 201,363

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 10,431 (11,052 ) (621 )

TOTAL FUNDS 10,431 (11,052 ) (621 )

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

Net
At movement At
1.11.22 in funds 31.10.24
£    £    £   
Unrestricted funds
General fund 201,984 4,336 206,320

TOTAL FUNDS 201,984 4,336 206,320

New Pitsligo Community Business Limited

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. MOVEMENT IN FUNDS - continued

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 21,073 (16,737 ) 4,336

TOTAL FUNDS 21,073 (16,737 ) 4,336

The General Fund is used for all activities of the charity. There are no other unrestricted or restricted funds.

10. RELATED PARTY DISCLOSURES

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