REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Report of the Trustees | 1 | to | 10 |
Report of the Independent Auditors | 11 | to | 13 |
Statement of Financial Activities | 14 |
Balance Sheet | 15 |
Cash Flow Statement | 16 |
Notes to the Cash Flow Statement | 17 |
Notes to the Financial Statements | 18 | to | 30 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 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 30 June 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 company has been formed to benefit principally the community of Ardrossan which comprises of all the postcode units within postcode sector (KA22) ("the Community") with the following objects: |
1. The advancement of community development, including the advancement of urban/rural regeneration |
2. The maintenance, regeneration and improvement of the communities physical,economic, social and cultural infrastructure. |
3. The advancement of education, training, arts, culture, heritage, sports, recreation, environmental improvement, social and economic wellbeing. |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
OBJECTIVES AND ACTIVITIES |
Significant activities |
|
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
OBJECTIVES AND ACTIVITIES |
|
Volunteers |
The charity continued to receive significant contributions from volunteers throughout the reporting year within the following activities: |
a. Provision of appropriate levels of governance and strategic direction to the charity via our trustee programme. |
b. Support with community engagement activities including: |
i. Distributing information the charity's activities programmes and developments to our local communities. |
ii. Seeking and collating the views of Ardrossan's communities, particularly to identify the key needs, aspirations and views of our communities, allowing the charity to develop and deliver activities that meet these needs and aspirations. |
c. Supporting the charity's staff in the provision of its services. |
The participation of the volunteers is vital in supporting the charity in the delivery of its activities. In the future we foresee a requirement to increase the number of volunteers as the charity provides a wider range of services to the local community. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The main achievements of the charity in the year were; |
a. Securing capital grant funding to construct and open the HUB on the PROM and Accessible South Beach Playpark. This included grants from: |
i. Scottish Government's Capital Grant Fund (RCGF). |
ii. Scottish Government's Community & Renewable Energy Scheme (CARES). |
iii. National Lottery Community Fund. |
iv. North Ayrshire Council. |
b. Securing revenue funding supporting the employment costs of the Community Development Officer and Community Trust Worker. |
c. Securing National Lottery Community Anchor Fund support to enable the charity to provide additional food, energy and clothing support to the most vulnerable members of the community. |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
ACHIEVEMENT AND PERFORMANCE |
Fundraising activities |
Securing of funding to support ACDT's charitable activities and purposes including: |
a. People's Postcode Trust - £25,000 to support the salary and employer oncosts for ACDT's development officer. |
b. North Ayrshire Ventures Trust funding - £30,000 (£10,000 per annum to 2026) to support the staffing and employer oncosts of ACDT's full-time staff (development officer and community trust worker). |
c. Grant funding applications continue to be developed, submitted and secured to support the charity's ongoing delivery of activities that meet the charity's vision and the needs and aspirations of the community the charity supports. |
d. Management of the Sorbie Wind Farm Community Fund, which will be distributed during 2025 by the charity to support activities and events identified and wanted by its community. |
The charity's impact on our community. |
With the completion of the South Beach Play Park and HUB on the PROM, the charity continues to deliver activities that are identified by our communities, and through these continues to develop as a community anchor organisation. |
The activities developed and delivered will continue to be community led, interactively and collaboratively involve our community, and have accessibility, and the health and wellbeing of our community at its heart. |
Examples of such activities developed and/or under development include: |
a) The Grey Dippers and other open water clubs. |
b) Individuals and groups wishing to access kayaking, kiting and power kiting, and walking & cycling groups. |
c) The 3 Towns Shutterbug Photography Club, which held an exhibition in one of the beach huts. |
d) Further linkages with other HUBS across the Three Towns using Active Travel Network. |
The official opening of the HUB on the PROM has generated significant levels of community engagement and interaction between the charity, the community, the cafe lessee, and visitors to Ardrossan. |
The charity, using the activities delivered as catalyst project, continues to seek the views and thoughts of its communities on their aspirations for the town and will continue to develop and submit grant applications to support the development and delivery of these enabling the charity to continue its development journey as a community anchor organisation. |
Local communities and residents feel energised that positive things are happening in their town that are good for Ardrossan as a town and community, but that these activities are also influenced and managed by the community themselves. |
Stakeholders, partners, local communities and the wider public at large have been enthusiastic about the charity's work. It is clear through the charity's achievement and performance that the charity's community identity continues to have a positive impact on Ardrossan as a town and community. |
This identity is helping the community thrive, people feel better about where they stay, they feel better about each other, they see a better future for themselves and their town, they also see the positive aspect of the work the charity does and understand its impact on anti-social behaviour such as crime, domestic abuse, drug use and anti-social behaviour from children. |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
FINANCIAL REVIEW |
Financial position |
The financial position of the charity at 30 June 2024 and comparatives for the prior period, as more full detailed in the accounts, can be summarised as follows: |
2024 | 2023 |
£ | £ |
Net income | 694,204 | 136,751 |
Unrestricted funds available for the general purposes of the charity | 22,247 | 8,133 |
Restricted funds | 809,446 | 129,356 |
Total funds | 831,693 | 137,489 |
The trustees consider the financial performance of the charity during the year to be satisfactory. The trustees are confident that Ardrossan Community Development Trust are in a healthy position and that our short to mid-term future is secure (3 - 5 years). We continue to expect that a large part of our funding will be through grants from the local authority North Ayrshire Council and through National Funding bodies such as the National Lottery and the Scottish Governments RCGF fund. Ardrossan Community Development Trust financial sustainability looks healthy as our reputation and member numbers continue to grow, along with our assets, future planning will increase revenue and will underpin our financial sustainability. Covid had a negative impact on our charity, it prevented our planned growth, we could not conduct planned activities and our objectives changed quite quickly from planning community facilities which would provide income, to ensuring we continue to exist and are able to plan post covid. The charity has not managed to carry out much fundraising in the financial year and has accepted that this is an area we will improve on in the next financial year we are also positive that the acquisition of buildings though grant funding will provide an income stream that will help to sustain the longer term future of the charity. The trustees looking ahead see a bright future for the development trust as it continues to grow and foster community relationships not only with members, the community in general but also with the local housing association and the local authority and other funders. As our reputation develops we are confident that our aims and objectives will continue to be achieved and that this will have a positive impact not only financially but on the community we serve. |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
FINANCIAL REVIEW |
Reserves policy |
Ardrossan Community Development Trust exists for the benefit of the inhabitants of the local area to improve the physical environment and positively impact on the life of the local community through achieving their aspirations. Primarily its funding streams will be mainly via grant funding from local fundraising, the local authority and national funders. |
The rationale behind the reserves policy: |
The board of trustees recognise they have a duty to use the organisation's funds within a reasonable time of receiving them. However, we also need to maintain the charity's future, absorb setbacks, and take advantage of change and opportunity. To provide for this we need to set income aside, when we can afford to, as a reserve for future, or against future uncertainties. Reserves are required to cover the overheads of the buildings it maintains and the main activities it undertakes. Although, it does need to be stated that these overheads are low at present, after we complete developments in the next financial year our commitments will increase. |
The board of trustees will over a period set aside reserves to cover its overheads for a 3 month period. The trustees will outline areas where there may be shortfalls in funding and how these shortfalls will be met. |
It is not acceptable to have a high level of reserves, high in actual terms or even just proportionate to turnover, if they cannot be justified. This could be seen as not properly directing the resources of the charity to the furtherance of its charitable objectives. Long-term commitments to staff or leases, or refurbishment plans which may have to be paid out of reserves, should however, be considered. As the charity's overheads grow or diminish it will add or take from the reserve funds year on year to maintain a correct level of reserves. This will mean considering buildings costs and overheads and the main activities which it wishes to protect. |
As part of the financial accounting period for each year the board of trustees review the number of reserves and forecast for the following financial year. We recognise that the reserves policy is not a static document, needs will change, the financial position of the charity may change, or plans may alter. We understand that it is important that the reserves policy is actively monitored and reviewed. |
Having reviewed the costings for a 3 month period for the reporting period it is reasonable to assume that an amount of £15,000 will be a sufficient reserves amount. The trustees have taken into consideration the growth in our assets over the next accounting period and recognise that this amount may need to increase substantially. This will cover 3 month commitments to staff, leases, insurance, and main activities which the trustees wish to protect. |
Availability and adequacy of assets of each of the funds |
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund. |
FUTURE PLANS |
The trustees will consult with the local authority (North Ayrshire Council), local housing association (Cunningham Housing Association) and government departments to maximise funding to allow us to reach our objectives. |
Our practices will be informed by regular consultation with community members who will always guide the charity on its future path. The charity will focus on positively impacting the people of Ardrossan which comprise of all of the postcode units within the postcode sector of KA22. |
The charity will seek to bring into use derelict land and buildings for community use and will be guided in this by community members, and will promote community ownership and wealth building ensuring the community we serve is fully active in guiding the charity. |
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. |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
The appointment of new charity trustees is detailed in our articles of association which state: |
Election, retiral, re-election: Member Directors |
1. At each annual general meeting, the Ordinary Members may (subject to articles 77 to 81) elect any member (providing he/she is willing to act) to be a director (a "Member Director"). |
2. The directors may (subject to articles 77 to 81) at any time appoint any member (providing he/she is willing to act) to be a director (a "Member Director"). |
3. At the first annual general meeting, 3 of the Member Directors shall retire from office; the question of which of them is to retire shall be determined by some random method. |
4. At each annual general meeting (other than the first) |
a) any Member Director appointed under article 83 during the period since the preceding annual general meeting shall retire from office; |
b) out of the remaining Member Directors, 3 shall retire from office. |
5. The directors to retire under paragraph (b) of article 85 shall be those who have been longest in office since they were last elected or re-elected; as between persons who were last elected/re-elected on the same date, the question of which of them is to retire shall be determined by some random method. |
6. A director who retires from office under article 85 or 86 shall be eligible for re-election. |
7. Appointment/re-appointment: Co-opted Directors |
In addition to their powers under article, 83 the directors may (subject to articles 77 to 81) at any time appoint any non-member of the company (providing he/she is willing to act) to be a director (a "Co-opted Director") either on the basis that he/she has been nominated by a body with which the company has close contact in the course of its activities or on the basis that he/she has specialist experience and/or skills which could be of assistance to the directors. |
8. At each annual general meeting, all the co-opted directors shall retire from office - but shall then (subject to articles 77 to 81) be eligible for re-appointment under article 88. Any individual who wishes to become a trustee must lodge with the company a written application which must be signed. This application will be completed on a form provided fit by the company that person will be asked to supply such evidence as the company may reasonably request that he/she has the skills and ability to fulfil the office. The existing directors shall consider each application at a full directors meeting and decide on membership . This would then allow the applicant to stand for election as a trustee. Present members will have already completed this process but may be asked to complete it again. |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
Risk of fraud or mismanagement |
- The trustees have engaged Anderson MacDonald Accountants, who provide monthly financial information for each trustees' meeting including profit and loss (both detailed and simple) and balance sheet. |
- All payments have to be accompanied by an appropriate invoice and/or payroll documentation in terms of salary payments (provided by Anderson MacDonald) and are authorised by two trustees (one of whom is the Trust's Chair). |
- Proper budgetary control has been established and implemented as part of strategic financial management. |
- Effective procedural checks are embedded in day-to day processes and are regularly reviewed. |
- The Trust ensures that its accounts are either audited (where required) or externally independently examined by a Chartered Accountant. |
Loss of income/grants |
The Trust has established and implemented a number of activities to alleviate this risk factor including: |
- Diversifying income sources to minimise the impact if one source dries up. |
- Contingency planning for loss of specific funding, developing reserves. |
- Staggering funding applications and re-applications, to ensure that these do not all happen in the same year. |
- Managing fixed costs. If your operation is vulnerable to external change, it is wise to keep fixed costs, such as permanent staff low. |
- Plan for a flexible organisational structure that can scale up or down, as circumstances require. |
Risk of unexpected costs |
The Trust continues to review and evaluate its insurance portfolio, to enable it to secure appropriate insurance cover including for: |
- Volunteers. |
- Equipment -against fire, flood and theft. |
- Advice - to address the risk of legal action for negligent advice. |
- Key people - where you are depending on the skills of specific staff to carry through business plans and generate income. |
Risks in your wider operating environment |
The Trust understands that the environment it operates within can change as local and national politics and funding agencys' policies and funding criteria change. |
- Joining relevant strategic, governmental (local and national) and policy groups to ensure the Trust is aware of local, national policy and funding changes. |
- Changes in the law, change of government and social, environmental and economic change can all have a financial impact on the organisation. Such risks are best anticipated and managed through strategic planning. |
Risks to the personal finances of the voluntary management committee |
The Trust has been established as a limited company with charitable status to ensure any future liability on trustees is limited. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
Trustees |
Company Secretary |
Auditors |
Chartered Accountants & Statutory Auditor |
20 Barns Street |
Ayr |
Ayrshire |
KA7 1XA |
Bankers |
Solicitors |
Harper MacLeod |
The Ca'd'oro |
4 Gordon Street |
Glasgow |
G1 3PE |
Accountants |
Anderson MacDonald |
29 Hamilton Street |
Saltcoats |
KA21 5 DT |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
|
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
|
AUDITORS |
The auditors, Galbraith Pritchards, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Approved by order of the board of trustees on |
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
Opinion |
We have audited the financial statements of Ardrossan Community Development Trust Ltd (the 'charitable company') for the year ended 30 June 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The previous year's accounts did not require to be audited. |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. |
Other information |
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion: |
- | adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. |
Our responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. |
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and, enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and the trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants & Statutory Auditor |
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 |
Ayr |
Ayrshire |
KA7 1XA |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 30 JUNE 2024 |
30/6/24 | 30/6/23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 3 |
( | ) |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
Total |
NET INCOME |
Transfers between funds | 14 | (449 | ) | 449 | - | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 137,489 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD (REGISTERED NUMBER: SC634107) |
BALANCE SHEET |
30 JUNE 2024 |
30/6/24 | 30/6/23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( | ) | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds | 8,133 |
Restricted funds | 129,356 |
TOTAL FUNDS | 137,489 |
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 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 JUNE 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 747,133 | 87,935 |
Tax paid | - | (173 | ) |
Net cash provided by operating activities | 747,133 | 87,762 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (789,992 | ) | (54,161 | ) |
Net cash used in investing activities | (789,992 | ) | (54,161 | ) |
Change in cash and cash equivalents in the reporting period | (42,859 | ) | 33,601 |
Cash and cash equivalents at the beginning of the reporting period | 110,184 | 76,583 |
Cash and cash equivalents at the end of the reporting period | 67,325 | 110,184 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
30/6/24 | 30/6/23 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) | 694,204 | 136,751 |
Adjustments for: |
Depreciation charges | 33,962 | 2,166 |
(Increase)/decrease in debtors | (25,835 | ) | 368 |
Increase/(decrease) in creditors | 44,802 | (51,350 | ) |
Net cash provided by operations | 747,133 | 87,935 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1/7/23 | Cash flow | At 30/6/24 |
£ | £ | £ |
Net cash |
Cash at bank | 110,184 | (42,859 | ) | 67,325 |
110,184 | (42,859 | ) | 67,325 |
Total | 110,184 | (42,859 | ) | 67,325 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 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. |
GOING CONCERN |
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flows of these are uncertain funding streams. Accordingly, the trustees have obtained financial forecasts and, after reviewing are satisfied that, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern. |
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
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. |
Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and not deferred. |
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. |
TANGIBLE FIXED ASSETS |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Leasehold improvements | - |
Computer equipment | - |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | ACCOUNTING POLICIES - continued |
TANGIBLE FIXED ASSETS |
|
TAXATION |
The charity is exempt from corporation tax on its charitable activities. Expenditure is inclusive of any VAT which cannot be recovered. |
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. |
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
FINANCIAL INSTRUMENTS |
The organisation only has financial assets and 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. |
PROVISIONS |
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
2. | DONATIONS AND LEGACIES |
30/6/24 | 30/6/23 |
£ | £ |
Donations |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
3. | INCOME FROM CHARITABLE ACTIVITIES |
30/6/24 | 30/6/23 |
Activity | £ | £ |
Grants | Capital grants | 760,897 | 90,640 |
Grants | Revenue Grants | 36,102 | 105,860 |
Management fees | Charitable activities | 18,915 | 17,000 |
Other income | Charitable activities | 3,945 | 3,600 |
Grants received, included in the above, are as follows: |
30/6/24 | 30/6/23 |
£ | £ |
National Lottery - Playpark | 253,870 | 3,200 |
North Ayrshire Council- Hob On the Prom | 1,200 | - |
RCGF - Hub On The Prom | 503,380 | - |
Transfer to Playpark | 2,447 | - |
DTA -Scotland | 2,904 | - |
North Ayrshire Council- Development Officer | (2,067 | ) | 50,366 |
North Ayrshire Council - Container | (2,032 | ) | 7,015 |
Cunningham Housing Association | 10,000 | 5,000 |
North Ayrshire Council - Parental Employment | 27,297 | - |
North Ayrshire Council Playpark | - | 15,829 |
North Ayrshire Council - Toilet Block | - | 62,609 |
DTA Scotland - Accounting | - | 1,752 |
North Ayrshire Council Prom Lease | - | 2,449 |
Sustrans - Mural | - | 5,000 |
National Lottery Anchor Fund | - | 27,300 |
Cunningham Housing Association - Playpark | - | 3,000 |
Cunningham Housing Association - Toilet Block | - | 2,000 |
DTA Scotland - Toilet Block | - | 2,250 |
CEIS - Kickstart | - | 8,730 |
796,999 | 196,500 |
4. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 5) | Totals |
£ | £ | £ |
Charitable activities | 77,219 | - | 77,219 |
Governance costs | - | 6,050 | 6,050 |
Support costs | 41,005 | 4,481 | 45,486 |
118,224 | 10,531 | 128,755 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
5. | SUPPORT COSTS |
Governance |
costs |
£ |
Governance costs | 6,050 |
Support costs | 4,481 |
10,531 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30/6/24 | 30/6/23 |
£ | £ |
Auditors' remuneration | 4,500 | - |
Depreciation - owned assets |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
TRUSTEES' EXPENSES |
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
8. | STAFF COSTS |
30/6/24 | 30/6/23 |
£ | £ |
Wages and salaries |
Other pension costs |
50,721 | 53,840 |
The average monthly number of employees during the year was as follows: |
30/6/24 | 30/6/23 |
Charitable activities | 2 | 2 |
Administration | 1 | 1 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities |
1,476 | - |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 8,757 | (8,019 | ) |
TOTAL FUNDS CARRIED FORWARD | 8,133 | 129,356 | 137,489 |
10. | TANGIBLE FIXED ASSETS |
Leasehold | Computer |
improvements | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors | 3,029 | 3,116 |
Accrued expenses |
13. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30/6/24 | 30/6/23 |
£ | £ |
In more than five years |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
14. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1/7/23 | in funds | funds | 30/6/24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 8,133 | 14,563 | (449 | ) | 22,247 |
Restricted funds |
National Lottery - Playpark | 3,200 | 244,562 | (247,762 | ) | - |
North Ayrshire Council- Hub On the Prom | 7,690 | (6,490 | ) | (1,200 | ) | - |
RCGF- Hub On The Prom | - | 488,342 | (465,222 | ) | 23,120 |
North Ayrshire Council - Development Officer | 20,128 | (20,128 | ) | - | - |
North Ayrshire Council - Container | 3,395 | (2,795 | ) | - | 600 |
Restricted fixed asset Funds | 50,552 | - | 724,574 | 775,126 |
North Ayrshire Council Playpark | 6,941 | - | (6,941 | ) | - |
Sustrans - Mural | 2,900 | (2,100 | ) | - | 800 |
National Lottery - Anchor Fund | 27,300 | (21,750 | ) | - | 5,550 |
Cunningham Housing Association - Hub on the Prom | 2,000 | - | - | 2,000 |
Cunninham Housing Association - Playpark | 3,000 | - | (3,000 | ) | - |
DTA Scotland - Hub on the Prom (Development Officer) | 2,250 | - | - | 2,250 |
679,641 |
TOTAL FUNDS | 694,204 | 831,693 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 63,561 | (48,998 | ) | 14,563 |
Restricted funds |
National Lottery - Playpark | 256,317 | (11,755 | ) | 244,562 |
North Ayrshire Council- Hub On the Prom | 1,200 | (7,690 | ) | (6,490 | ) |
RCGF- Hub On The Prom | 503,380 | (15,038 | ) | 488,342 |
DTA Scotland | 2,600 | (2,600 | ) | - |
North Ayrshire Council - Development Officer | (2,067 | ) | (18,061 | ) | (20,128 | ) |
North Ayrshire Council - Container | (2,032 | ) | (763 | ) | (2,795 | ) |
Sustrans - Mural | - | (2,100 | ) | (2,100 | ) |
National Lottery - Anchor Fund | - | (21,750 | ) | (21,750 | ) |
( | ) | 679,641 |
TOTAL FUNDS | ( | ) | 694,204 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
14. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1/7/22 | in funds | 30/6/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 8,757 | (624 | ) | 8,133 |
Restricted funds |
National Lottery - Playpark | - | 3,200 | 3,200 |
North Ayrshire Council - Development Officer | - | 20,128 | 20,128 |
North Ayrshire Council - Container | - | 3,395 | 3,395 |
North Ayrshire Council Playpark | 125 | 12,147 | 12,272 |
Sustrans - Mural | - | 2,900 | 2,900 |
National Lottery - Anchor Fund | - | 27,300 | 27,300 |
Cunninham Housing Association - Playpark | - | 3,000 | 3,000 |
DTA Scotland - Hub on the Prom (Development Officer) | - | 2,250 | 2,250 |
North Ayrshire Council - Toilet Block | (7,394 | ) | 60,305 | 52,911 |
DTA Scotland - Accounting | (750 | ) | 750 | - |
Cunningham Housing Association - Toilet Block | - | 2,000 | 2,000 |
(8,019 | ) | 137,375 | 129,356 |
TOTAL FUNDS | 738 | 136,751 | 137,489 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
14. | 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 | 34,405 | (35,029 | ) | (624 | ) |
Restricted funds |
National Lottery - Playpark | 3,200 | - | 3,200 |
North Ayrshire Council - Development Officer | 50,366 | (30,238 | ) | 20,128 |
North Ayrshire Council - Container | 7,015 | (3,620 | ) | 3,395 |
North Ayrshire Council Playpark | 15,829 | (3,682 | ) | 12,147 |
Sustrans - Mural | 5,000 | (2,100 | ) | 2,900 |
National Lottery - Anchor Fund | 27,300 | - | 27,300 |
Cunninham Housing Association - Playpark | 3,000 | - | 3,000 |
DTA Scotland - Hub on the Prom (Development Officer) | 2,250 | - | 2,250 |
North Ayrshire Council - Toilet Block | 62,609 | (2,304 | ) | 60,305 |
DTA Scotland - Accounting | 1,752 | (1,002 | ) | 750 |
North Ayrshire Council Prom Lease | 2,449 | (2,449 | ) | - |
Cunningham Housing Association - Toilet Block | 2,000 | - | 2,000 |
182,770 | (45,395 | ) | 137,375 |
TOTAL FUNDS | 217,175 | (80,424 | ) | 136,751 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
14. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1/7/22 | in funds | funds | 30/6/24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 8,757 | 13,939 | (449 | ) | 22,247 |
Restricted funds |
National Lottery - Playpark | - | 247,762 | (247,762 | ) | - |
North Ayrshire Council- Hub On the Prom | - | (6,490 | ) | (1,200 | ) | (7,690 | ) |
RCGF- Hub On The Prom | - | 488,342 | (465,222 | ) | 23,120 |
North Ayrshire Council - Container | - | 600 | - | 600 |
Restricted fixed asset Funds | - | - | 724,574 | 724,574 |
North Ayrshire Council Playpark | 125 | 12,147 | (6,941 | ) | 5,331 |
Sustrans - Mural | - | 800 | - | 800 |
National Lottery - Anchor Fund | - | 5,550 | - | 5,550 |
Cunninham Housing Association - Playpark | - | 3,000 | (3,000 | ) | - |
DTA Scotland - Hub on the Prom (Development Officer) | - | 2,250 | - | 2,250 |
North Ayrshire Council - Toilet Block | (7,394 | ) | 60,305 | - | 52,911 |
DTA Scotland - Accounting | (750 | ) | 750 | - | - |
Cunningham Housing Association - Toilet Block | - | 2,000 | - | 2,000 |
(8,019 | ) | 817,016 | 449 | 809,446 |
TOTAL FUNDS | 738 | 830,955 | - | 831,693 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
14. | 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 | 97,966 | (84,027 | ) | 13,939 |
Restricted funds |
National Lottery - Playpark | 259,517 | (11,755 | ) | 247,762 |
North Ayrshire Council- Hub On the Prom | 1,200 | (7,690 | ) | (6,490 | ) |
RCGF- Hub On The Prom | 503,380 | (15,038 | ) | 488,342 |
DTA Scotland | 2,600 | (2,600 | ) | - |
North Ayrshire Council - Development Officer | 48,299 | (48,299 | ) | - |
North Ayrshire Council - Container | 4,983 | (4,383 | ) | 600 |
North Ayrshire Council Playpark | 15,829 | (3,682 | ) | 12,147 |
Sustrans - Mural | 5,000 | (4,200 | ) | 800 |
National Lottery - Anchor Fund | 27,300 | (21,750 | ) | 5,550 |
Cunninham Housing Association - Playpark | 3,000 | - | 3,000 |
DTA Scotland - Hub on the Prom (Development Officer) | 2,250 | - | 2,250 |
North Ayrshire Council - Toilet Block | 62,609 | (2,304 | ) | 60,305 |
DTA Scotland - Accounting | 1,752 | (1,002 | ) | 750 |
North Ayrshire Council Prom Lease | 2,449 | (2,449 | ) | - |
Cunningham Housing Association - Toilet Block | 2,000 | - | 2,000 |
942,168 | (125,152 | ) | 817,016 |
TOTAL FUNDS | 1,040,134 | (209,179 | ) | 830,955 |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
14. | MOVEMENT IN FUNDS - continued |
Unrestricted and designated funds:- |
Unrestricted Revenue Funds | These funds are held for meeting the objectives of the charity, and to provide reserves for future activities, and, subject to charity legislation, are free from all restrictions on their use. |
Restricted Funds |
Restricted Fixed Asset Funds | The purpose of these funds is described under the accounting policy 'Accounting for capital grants and fixed asset funds'. |
North Ayrshire Council - Playpark | To fund construction and professional fees in relation to the Playpark project. |
North Ayrshire Council - Hub on the Prom | To fund construction and professional fees in relation to the South Beach Toilet Block/Cafe project. |
National Lottery - Playpark | To fund construction and professional fees in relation to the Playpark project. |
RCGF - Hub On The Prom | To cover the costs of accounting for two years. |
North Ayrshire Council - Development Officer | To fund the salary of the Community Development Officer for two years. |
North Ayrshire Council - Summer Activities/Container | To cover the cost of leasing the container and to fund summer activities. |
NAC - Prom Lease | To fund the cost of the lease for the Prom. |
Sustrans - Mural | To fund the installation of a Mural at Princes Street Ardrossan. |
National Lottery - Anchor Fund | This Grant will fund volunteer expenses, low energy appliances, winter clothing, small household items, expenses for the advocacy project, kids breakfast club, fuel and food vouchers, well being classes and mental health seminars. |
Cunningham Housing Association - Playpark | To fund construction and professional fees in relation to the Playpark project. |
Cunningham Housing Association - Hub On TheProm | To fund construction and professional fees in relation to the South Beach Toilet Block/Cafe project. |
DTA Scotland - Hub On The Prom (DevelopmentOffice) | To fund construction and professional fees in relation to the South Beach Toilet Block/Cafe project. |
ARDROSSAN COMMUNITY DEVELOPMENT TRUST |
LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
15. | CAPITAL COMMITMENTS |
30/6/24 | 30/6/23 |
£ | £ |
Contracted but not provided for in the financial statements | 427,097 | - |
16. | RELATED PARTY DISCLOSURES |
The under-noted trustees are associated with these organisations who provided funding to Ardrossan Community Development Trust as follows: |
Trustee | Public Body | Funding |
£ |
S Mould | Cunningham Housing Association | 10,000 |
In addition to this there is a service level agreement between the charity and Cunningham Housing Association for the provision of reception duties at the Frank Sweeny Centre for Excellence. This amounted to £18,915 during the year. |
Cunningham Housing Association also provides various in kind contributions including the provision of access to professional support. |
17. | ULTIMATE CONTROLLING PARTY |
The charity is under the control of its legal members. |
Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up. |