Charity registration number SC052598 (Scotland)
Company registration number SC707956 (Scotland)
BIGTON COLLECTIVE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
BIGTON COLLECTIVE LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
A Armitage
S Green
(Appointed 1 September 2023)
S Main
A Ritch
D Shah
Y Tait
L Whittall
Secretary
L Whittall
Charity number
SC052598
Company number
SC707956
Registered office
Hymhus
Bigton
Shetland
ZE2 9JF
Independent examiner
A.J.B. Scholes Ltd
8 Albert Street
Kirkwall
Orkney
KW15 1HP
Bankers
Royal Bank of Scotland
81 Commercial Street
Lerwick
Shetland
ZE1 0AD
BIGTON COLLECTIVE LTD
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 15
BIGTON COLLECTIVE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

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).

Objectives and activities

The charity's objectives are:

 

Achievements and performance
Significant activities and achievements against objectives

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.

BIGTON COLLECTIVE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

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:

 

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.

Financial review

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.

Reserves policy

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.

Structure, governance and management

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:

A Armitage
S Green
(Appointed 1 September 2023)
S Main
A Ritch
J Ritch
(Resigned 11 June 2024)
D Shah
Y Tait
L Whittall
Recruitment and appointment of trustees

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.

BIGTON COLLECTIVE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -

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

S Main
Trustee
24 March 2025
BIGTON COLLECTIVE LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BIGTON COLLECTIVE LTD
- 4 -

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.

Respective responsibilities of Trustees and examiner

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.

Basis of independent examiner's statement

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.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Ryan Allan
Chartered Certified Accountant
Independent examiner
8 Albert Street
Kirkwall
Orkney
KW15 1HP
Dated: 24 March 2025
BIGTON COLLECTIVE LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
8,973
139,396
148,369
10,270
126,687
136,957
Charitable activities
4
17,626
-
17,626
7,186
-
7,186
Total income
26,599
139,396
165,995
17,456
126,687
144,143
Expenditure on:
Charitable activities
5
17,237
67,491
84,728
17,390
36,179
53,569
Total expenditure
17,237
67,491
84,728
17,390
36,179
53,569
Net income
9,362
71,905
81,267
66
90,508
90,574
Transfers between funds
78,862
(78,862)
-
20,834
(20,834)
-
Net movement in funds
6
88,224
(6,957)
81,267
20,900
69,674
90,574
Reconciliation of funds:
Fund balances at 1 September 2023
96,407
77,141
173,548
75,507
7,467
82,974
Fund balances at 31 August 2024
184,631
70,184
254,815
96,407
77,141
173,548

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
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
166,760
95,936
Current assets
Debtors falling due after one year
11
23,305
47,448
Debtors falling due within one year
11
62,114
28,552
Cash at bank and in hand
11,130
2,880
96,549
78,880
Creditors: amounts falling due within one year
12
(8,494)
(1,268)
Net current assets
88,055
77,612
Net assets
254,815
173,548
The funds of the charity
Restricted income funds
14
70,184
77,141
Unrestricted funds
184,631
96,407
254,815
173,548

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024.

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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 24 March 2025
A Ritch
Trustee
Company registration number SC707956 (Scotland)
BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
1
Accounting policies
Charity information

Bigton Collective Ltd is a private company limited by guarantee incorporated in Scotland. The registered office is Hymhus, Bigton, Shetland, ZE2 9JF.

1.1
Accounting convention

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.

1.2
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.

1.3
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.

1.4
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.

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.

1.5
Expenditure

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.

BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 8 -
1.6
Tangible fixed assets

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:

Freehold land and buildings
2% straight line or 10% reducing balance
Fixtures, fittings & equipment
20% reducing balance
IT equipment
20% reducing balance

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.

1.7
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).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks.

1.9
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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

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.

Derecognition of financial liabilities

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

BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
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.

3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
8,973
-
8,973
10,270
-
10,270

Grants

-
139,396
139,396
-
126,687
126,687
8,973
139,396
148,369
10,270
126,687
136,957
Grants receivable for core activities
Shetland Islands Council - Regeneration
-
40,424
40,424
-
-
-
Scottish Land Fund - Polycrub
-
-
-
-
9,000
9,000
Scottish Land Fund - Project Officer
-
-
-
-
7,500
7,500
Highlands and Islands Enterprise - LaunchMe programme
-
-
-
-
1,951
1,951
Dunrossness Community Council - PAT testing
-
390
390
-
-
-
Shetland Islands Council - Hymhus development
-
70,978
70,978
-
19,144
19,144
Architectural Hertitage Fund - Architect fees
-
7,900
7,900
-
2,100
2,100
Creative Scotland - Young Music Initative
-
14,934
14,934
-
13,740
13,740
National Lottery Community Fund - Project Officer
-
-
-
-
73,252
73,252
Voluntary Action Shetland - Communities Mental Health
-
4,770
4,770
-
-
-
-
139,396
139,396
-
126,687
126,687
BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 10 -
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Charitable Income

Second hand shop

13,391
5,100

Room hire

4,235
2,086
17,626
7,186
5
Charitable activities
2024
2023
£
£
Staff costs
39,366
15,748
Depreciation and impairment
8,642
3,999

Direct project costs

29,477
22,171

Other running costs

7,243
11,651
84,728
53,569
Analysis by fund
Unrestricted funds
17,237
17,390
Restricted funds
67,491
36,179
84,728
53,569
6
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
8,642
3,999
7
Trustees

During the year, the charity paid the following trustees for services provided to the charity:

 

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.

BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 11 -
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
2
2
Employment costs
2024
2023
£
£
Wages and salaries
38,567
15,522
Other pension costs
799
226
39,366
15,748
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from taxation as all its activities are charitable and all income is applied for charitable purposes.

10
Tangible fixed assets
Freehold land and buildings
Fixtures, fittings & equipment
IT equipment
Total
£
£
£
£
Cost
At 1 September 2023
96,851
4,966
488
102,305
Additions
67,173
11,112
1,180
79,465
At 31 August 2024
164,024
16,078
1,668
181,770
Depreciation and impairment
At 1 September 2023
5,194
1,093
81
6,368
Depreciation charged in the year
6,908
1,574
160
8,642
At 31 August 2024
12,102
2,667
241
15,010
Carrying amount
At 31 August 2024
151,922
13,411
1,427
166,760
At 31 August 2023
91,657
3,872
407
95,936
BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 12 -
11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,889
-
Prepayments and accrued income
60,225
28,552
62,114
28,552
2024
2023
Amounts falling due after more than one year:
£
£
Prepayments and accrued income
23,305
47,448
Total debtors
85,419
76,000
12
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
-
260
Other creditors
183
-
Accruals and deferred income
8,311
1,008
8,494
1,268
13
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
799
226

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.

BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 13 -
14
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.

Movement in funds
Movement in funds
Balance at
1 September 2022
Incoming resources
Resources expended
Transfers
Balance at
1 September 2023
Incoming resources
Resources expended
Transfers
Balance at
31 August 2024
£
£
£
£
£
£
£
£
£
Scottish Land Fund - Insurance costs
524
-
(524)
-
-
-
-
-
-
Scottish Land Fund - Project officer
6,773
7,500
(14,164)
-
109
-
(109)
-
-
Highlands and Islands Enterprise - LaunchMe programme
-
1,951
(1,702)
(249)
-
-
-
-
-
Shetland Arts and Development Agency - Artist fees
170
-
-
(170)
-
-
-
-
-
Scottish Land Fund - Polycrub
-
9,000
-
(9,000)
-
-
-
-
-
Shetland Islands Council - Hymhus development
-
13,655
(4,470)
(9,185)
-
70,978
(1,087)
(69,891)
-
Shetland Council - Winter activities
-
5,489
(5,359)
(130)
-
-
-
-
-
Creative Scotland - Young Music Initative
-
13,740
(9,960)
-
3,780
14,934
(15,248)
-
3,466
Architectural Heritage Fund - Polycrub
-
2,100
-
(2,100)
-
-
-
-
-
National Lottery - Community Fund
-
73,252
-
-
73,252
-
(17,514)
-
55,738
Voluntary Action Shetland - Communities Mental Health
-
-
-
-
-
4,770
(4,568)
-
202
Architectural Heritage Fund - Architect fees
-
-
-
-
-
7,900
-
(7,824)
76
Dunrossness Community Council - Equipment
-
-
-
-
-
390
-
(340)
50
Shetland Islands Council - Regeneration
-
-
-
-
-
40,424
(28,965)
(807)
10,652
7,467
126,687
(36,179)
(20,834)
77,141
139,396
(67,491)
(78,862)
70,184
BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
14
Restricted funds
(Continued)
- 14 -

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.

BIGTON COLLECTIVE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -
15
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. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September 2023
Incoming resources
Resources expended
Transfers
At 31 August 2024
£
£
£
£
£
General funds
96,407
26,599
(17,237)
78,862
184,631
Previous year:
At 1 September 2022
Incoming resources
Resources expended
Transfers
At 31 August 2023
£
£
£
£
£
General funds
75,507
17,456
(17,390)
20,834
96,407
16
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Fund balances at 31 August 2024 are represented by:
Tangible assets
166,760
-
166,760
95,936
-
95,936
Current assets/(liabilities)
17,871
70,184
88,055
471
77,141
77,612
184,631
70,184
254,815
96,407
77,141
173,548
17
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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