The Trustees present their annual report and financial statements for the year ended 31 August 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 constitution, 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's objectives are:
to advance citizenship, community development and volunteering within and for the benefit of the community of Bigton by delivering a diverse variety of services and initiatives across the community, without distinction of sex, sexuality, political, religious or other opinion, with the object of improving their conditions of life;
to improve the mental and physical health and well-being of all the inhabitants of Bigton by delivering and/or facilitating a variety of health related initiatives in a therapeutic environment;
to advance education and learning by providing workshops, training sessions and courses in the community of Bigton;
to advance the culture, art and heritage of Bigton through a variety of initiatives across the community;
to relieve those in need by reason of age, ill-health, disability, financial hardship or other disadvantage by focussing services on those most in need in the community of Bigton;
to provide recreational facilities and organise recreational activities to improve the conditions of life of all the inhabitants of Bigton.
This period represented another busy year for Bigton Collective with the continuation of a range of creative activities and events. A three-year grant from the Community Led Lottery Fund awarded in August 2023 has contributed to some of our core overheads and enabled us to continue to employ a part-time Project Officer.
Our weekly group activities have continued to develop with groups growing in popularity. Straw Makers and Bigton Singers have both seen increased numbers and a wider reach. Friday Friends, which provides an opportunity for the community to eat lunch together, has also seen a boost in participants. We have had the opportunity to pilot some new initiatives: Bigton Writers, Piece & a Poem, Spring Sing and our Short & Sweet concerts. We were successful in securing funding again from Creative Scotland - Access to Music Making for our ongoing Young Voices programme which includes Musical Playtime, Bigton Band and Musical Nurture Groups for schools. Additional support from the Communities Mental Health and Wellbeing Fund for Adults allowed us to offer blocks of support groups for parents in spring and summer 2024.
The Claes Swap event in November 2023 was very successful and well attended. We also collaborated with Community Development Services with Winter Pop-Ins and hosted a number of open events for Adult Learning. We combined our AGM in May 2024 with a Music Quiz which was well attended. Bigton Samba performed at a number of community events including Shetland Pride in June 2024.
In addition to all the regular activity, it has also been a busy period for capital improvements. Thanks to an Islands Programme grant we were able to complete Phase 1 renovations in Spring 2023, improving the toilet, kitchen, stage and vestry. Additional grants from the Coastal Communities Fund and SIC Economic Development also allowed us to employ a Development Manager to oversee Phase 1, to develop a longer-term business plan / creative arts programme and to compile the proposal for Phase 2 works.
Music therapy and other therapeutic services continue to be offered by our anchor tenant and the improvements to the building have made it warmer and generally more pleasant for families and carers to wait. Accessibility improvements include a wheelchair ramp to the stage, level access through to the vestry and the addition of an adjustable changing table.
The improved layout in the main Hymhus space has also allowed us to host the ever-popular Bigton Weekend Bakery. This is bringing large numbers of people into the building on Saturday mornings. The second-hand shop St Ninian's Proil has increased in popularity and generated considerably more income too.
Our creative theme across all our groups for this period was "Under the Surface" which culminated in the annual community exhibition in July 2024. In the summer of 2024 we also launched our new website www.hymhus.com and enjoyed the first season of growing in the community Polycrub with our first ever home-grown tomato chutney being served at Friday Friends.
A number of proposals and applications were submitted at the end of this period and we will look towards the next year with hope to:
develop more stability and continuity in all our activities promoting arts, health and wellbeing
deliver Phase 2 of capital works - upgraded heating system, replacement windows, external pathways
gradually expanding our events programme
continuing to develop Hymhus as a community hub
We are most grateful to our funders and our many volunteers and supporters in the Bigton community and beyond for their ongoing enthusiasm and contributions to the project and look forward to much more creativity and connection in 2024/2025.
The charity had total incoming resources of £165,995 (2023: £144,143) and total resources expended of £84,728 (2023: £53569), giving a net surplus for the year of £81,267 (2023: £90,574). Total funds as at the balance sheet date amounted to £254,815 (2023: £173,548), of which £70,184 (2023: £77,141) are restricted funds.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The charity is a company limited by guarantee.
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:
The charity has two methods to recruit and appoint new directors. Directors are either appointed at the AGM (ie proposed and seconded) or through co-option at Board meetings at any other point during the year as required. Directors are appointed from a list of Board approved members ie named representatives of member organisations. No other body or person is entitled to appoint directors.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 31 August 2024, which are set out on pages 5 to 15.
The charity’s Trustees, who are also the directors of Bigton Collective Ltd 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 connection with 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.
Bigton Collective Ltd is a private company limited by guarantee incorporated in Scotland. The registered office is Hymhus, Bigton, Shetland, ZE2 9JF.
The financial statements have been prepared in accordance with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (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 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.
Income from fundraising activities is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business.
Expenditure is recognised on the accruals basis of a liability is incurred, and includes any VAT which cannot be recovered.
Expenditure on charitable activities comprises those costs incurred in the delivery of the charity's activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
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.
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).
Cash and cash equivalents include cash in hand, deposits held at call with banks.
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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors are initially recognised at transaction price. 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.
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.
Grants
Second hand shop
Room hire
Direct project costs
Other running costs
During the year, the charity paid the following trustees for services provided to the charity:
A Ritch - £7,502 (2023: £8,187)
D Shah - £50 (2023: £nil)
The charity paid remuneration of £19,833 (2023: £nil) to J Ritch, trustee (to date of resignation as a Trustee on 11 June 2024).
During the year, the charity received income from A Ritch totalling £1,000 (2023: £1,000) for room hire.
The average monthly number of employees during the year was:
The charity is exempt from taxation as all its activities are charitable and all income is applied for charitable purposes.
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.
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.
Scottish Land Fund - Project Officer funds received are exclusively for supporting the cost of employing a project officer.
Shetland Council - Hymhus Development represents grants received towards that project. A transfer was made to unrestricted funds for capital expenditure which has no further restrictions.
Creative Scotland Fund represents grants received towards Young Music Initiative.
National Lottery - Community Fund represents grants received for supporting the cost of employing a project officer.
Voluntary Action Scotland - Communities Mental Health Fund represents grants received towards that project.
Architectural Heritage Fund represents funds received towards specific architect fees. A transfer from restricted funds for capital expenditure which has no further restrictions.
Dunrossness Community Council fund represents funds received towards specific PAT testing equipment. A transfer from restricted funds for capital expenditure which has no further restrictions.
Shetland Council - Regeneration Fund represents grants received for supporting the cost of employing a Development Manager and associated specific running costs such as advertising, website fees and computer costs. A transfer from restricted funds for capital expenditure which has no further restrictions.
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.
There were no disclosable related party transactions during the year (2023 - none).