IRIS Accounts Production v25.1.0.734 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY FRS 102 Audited Small companies regime for accounts Full Charities SORP true true true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5836822023-03-31SC5836822024-03-31SC5836822023-04-012024-03-31SC5836822022-03-31SC5836822022-04-012023-03-31SC5836822023-03-31SC583682ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-31SC583682ns15:PoundSterling2023-04-012024-03-31SC583682ns11:FRS1022023-04-012024-03-31SC583682ns11:Audited2023-04-012024-03-31SC583682ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC583682ns11:FullAccounts2023-04-012024-03-31SC583682ns11:CharitiesSORP2023-04-012024-03-31SC583682ns0:Trustee22023-04-012024-03-31SC583682ns0:Trustee32023-04-012024-03-31SC583682ns0:Trustee12023-04-012024-03-31SC583682ns0:Trustee42023-04-012024-03-31SC583682ns0:Trustee52023-04-012024-03-31SC583682ns0:Trustee62023-04-012024-03-31SC583682ns0:Trustee72023-04-012024-03-31SC583682ns0:Trustee82023-04-012024-03-31SC583682ns0:Trustee92023-04-012024-03-31SC583682ns0:Trustee102023-04-012024-03-31SC583682ns0:Trustee112023-04-012024-03-31SC583682ns11:RegisteredOffice2023-04-012024-03-31SC583682ns0:TotalUnrestrictedFunds2023-04-012024-03-31SC583682ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC583682ns0:Activity82023-04-012024-03-31SC583682ns0:TotalUnrestrictedFundsns0:Activity82023-04-012024-03-31SC583682ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC583682ns0:Activity82022-04-012023-03-31SC583682ns0:TotalUnrestrictedFunds2023-03-31SC583682ns0:TotalRestrictedIncomeFunds2023-03-31SC583682ns0:TotalUnrestrictedFunds2024-03-31SC583682ns0:TotalRestrictedIncomeFunds2024-03-31SC583682ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-03-31SC583682ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2024-03-31SC583682ns10:WithinOneYear2024-03-31SC583682ns10:WithinOneYear2023-03-31SC583682ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-04-012024-03-31SC583682ns10:PlantMachinery2023-04-012024-03-31SC58368222023-04-012024-03-31SC58368232023-04-012024-03-31SC58368212023-04-012024-03-31SC58368212022-04-012023-03-31SC583682ns10:OwnedAssets2023-04-012024-03-31SC583682ns10:OwnedAssets2022-04-012023-03-31SC583682ns0:TotalUnrestrictedFunds2022-04-012023-03-31SC583682ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC583682ns0:TotalUnrestrictedFundsns0:Activity82022-04-012023-03-31SC583682ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC583682ns10:PreviouslyStatedAmountns0:TotalUnrestrictedFunds2022-03-31SC583682ns10:PreviouslyStatedAmountns0:TotalRestrictedIncomeFunds2022-03-31SC583682ns10:PreviouslyStatedAmount2022-03-31SC583682ns10:PriorPeriodIncreaseDecreasens0:TotalUnrestrictedFunds2022-03-31SC583682ns10:PriorPeriodIncreaseDecreasens0:TotalRestrictedIncomeFunds2022-03-31SC583682ns10:PriorPeriodIncreaseDecrease2022-03-31SC583682ns0:TotalUnrestrictedFunds2022-03-31SC583682ns0:TotalRestrictedIncomeFunds2022-03-31SC583682ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-03-31SC583682ns10:PlantMachinery2023-03-31SC583682ns10:OwnedOrFreeholdAssetsns10:LandBuildings2024-03-31SC583682ns10:PlantMachinery2024-03-31SC583682ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-03-31SC583682ns10:PlantMachinery2023-03-31
REGISTERED COMPANY NUMBER: SC583682 (Scotland)
REGISTERED CHARITY NUMBER: O48761














Report of the Trustees and

Financial Statements for the Year Ended 31 March 2024

for

New Cumnock Development Trust
(A Company Limited by Guarantee)

New Cumnock Development Trust






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




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 6

Report of the Independent Auditors 7 to 10

Statement of Financial Activities 11

Balance Sheet 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15 to 30

New Cumnock Development Trust

Reference and Administrative Details
for the Year Ended 31 March 2024



TRUSTEES John Hunter Chairman
Iain Burgoyne Vice Chairman
Angus Hart
Graham Alfred Wallace Greig
John Houston
Heather Lucy Johnson (resigned 4.7.23)
Susan Kerr (resigned 6.3.24)
William Gibson Paterson
Wendy Jane Pring
Karen Trevorrow (appointed 5.12.23)
Graham Wight


REGISTERED OFFICE 21 Castle
New Cumnock
KA18 4AN


REGISTERED COMPANY
NUMBER
SC583682 (Scotland)


REGISTERED CHARITY
NUMBER
O48761


AUDITORS Accountants Plus (Hamilton) Ltd
T/A Accountants Plus
Statutory Auditor
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

New Cumnock Development Trust (Registered number: SC583682)

Report of the Trustees
for the Year Ended 31 March 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 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).

We are pleased to provide an overview of the activities undertaken by NCDT in the past fiscal year. As trustees, we share the progress and positive change resulting from our charitable endeavour.

Due to unexpected staff shortages and the expansion of our operational activities, we regret to inform stakeholders that the submission of accounts has been delayed. NCDT's staff hours were drastically reduced as a result of several staff members family matters. The increased demands on our team have led to this setback. We acknowledge the importance of adhering to deadlines, apologise for any inconvenience caused, and assure you that we understand the importance of the set deadlines, and this has been an extenuating circumstance.

OBJECTIVES AND ACTIVITIES
Objectives, strategies and activities
The following values underpin our decision making and structure our approach. Our Vision & Mission statements were co-created with the community and are reflected in the decision making and deliverables of our Objectives, Strategies & Activities.

Vision:
New Cumnock Development Trust has the vision of a friendly, welcoming, and inclusive New Cumnock with a prosperous and sustainable future that builds on all our strengths, and which is led by a thriving and active community.

Mission:
To help make this future a reality, New Cumnock Development Trust works in partnership with the community and local organisations - supporting, co-ordinating and leading a range of projects and developments which deliver on the hopes and priorities of the people of New Cumnock.

Values:
- Open, honest & accountable
- Community-led
- A champion of equality & inclusion
- Enabling & empowering
- Respectful, treating all people with dignity
- Collaborative, working well in partnership
- Entrepreneurial

New Cumnock Development Trust was granted charitable status in October 2018 and is owned and managed by the local community. It was set up to:
- Spearhead the regeneration of New Cumnock.
- Work in partnership with other private, voluntary and public sector organisations to realise the hopes and priorities of the local community.
- Reduce dependency on grant support by generating income through enterprise and the ownership of assets.


New Cumnock Development Trust (Registered number: SC583682)

Report of the Trustees
for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE
Charitable activities
A big focus throughout the year has been on progressing the 2 capital refurbishment projects - at the former Castle Hotel and the Trotters building.
Trotters
Professional design and technical work developed the capital refurbishment plans and also provided estimated costs for the work. This allowed NCDT to make successful funding applications to Scottish Government's Regional Capital Grant Fund, UK Government's Community Ownership Fund and East Ayrshire Council's Renewable Energy Fund to match fund trustees' allocation of Afton Wind Farm and Hare Hill Extension Wind Farm funds to this project. The tender process for the capital works was carried out through Public Contracts Scotland (PCS) portal and therefore followed the PCS procurement process. Taylor and Fraser were appointed as main contractor with a requirement to build in additional benefits to the community, for example employing local sub contractors and staff where possible. Work on Trotters began in May 2024 and is currently scheduled to complete in September 2025. NCDT is grateful to our professional team who have guided us through the process. The team is led by INCH Architecture + Design, a social enterprise business with substantial experience in supporting funded community projects.
Castle Hotel
Phase 1 refurbishment works continued on the Castle Hotel throughout the year. Due to unforeseen issues stemming from storm damage to the building, this project substantially over ran its original plan in terms of extent of work required, time and costs. Phase 1 work intended to make the building wind and water tight and improve its appearance to the village centre. However, structural work was required to stabilise the building and the unforeseen nature of the work coupled with a lack of input and clear communication from the professional team hampered progress. NCDT would like to emphasis that this team was different to that on the Trotters project and we are disappointed with the level of service provided on the Castle Hotel project. Phase 1 completed in May 2024 with a rectification period of 1 year.
Other activities
Another significant project during the year was delivering Fit Fest, Ayrshire first festival of fitness. This event was designed to encourage people to be more active by providing opportunities to try activities they might not normally consider. Approximately 2500 people attended on the day, taking part in zip slide, climbing wall, axe throwing and yoga amongst other things. NCDT are grateful to NC Community Football Club for the use of Greenhead Park and to Hare Hill Wind Farm in their support of the project.
The Sports Forum continued to meet and were building trust and partnership between groups with a view to developing a collaborative approach to improving facilities for the community. During the year NCDT was approached by an organisation wishing to divest community assets and we began discussion with East Ayrshire Leisure Trust to identify a sustainable way to bring these into community ownership. In the meantime, The Sports Forum paused and as NCDT was asked to commit to complete confidentiality in this matter, further details could not be disclosed. Negotiations continued into the following financial year.
ReNew Cumnock continued at the station building and the Phase 2 pre-loved clothes shop. However, due to rising costs and lower than expected customer numbers, it was decided to close the shop in the Castle. New Cumnock Working Men's Club (WMC) agreed to take on providing low/no cost pre-loved clothes for the community to complement their emergency food provision service. NCDT donated the remaining stock and clothing rails to WMC. Clothing Doctor and textile workshops continued at the station until August 2024.
NCDT also continued their weekly Clubbercise class which remained popular.
Regular youth groups recommenced and are now hosted every few weeks rather than every week due to staffing constraints.
Support for other local groups also continues - these include Walking football, NC Angling Club and Afton Active Minds

New Cumnock Development Trust (Registered number: SC583682)

Report of the Trustees
for the Year Ended 31 March 2024

Other social activities for local people were delivered during the year such as the Halloween Scare Trail and school holiday activities.
The Network 76 partnership sustainable transport project led by Community Energy Scotland also continued with learning opportunities available. Their development officer came along to Fit Fest to ask for local input to a path mapping exercise.
The Community grants programme continued and was paused during the year for routine review of effectiveness and process. This fund reopened in the following financial year.
The finance and administration officer role was made full time. However, there is a backlog of work and the staff team are looking at ways to reduce to introduce process efficiencies.

FINANCIAL REVIEW
Reserves policy
In order to provide stability and resilience, the trustees consider that an amount equivalent to 3 months running costs, plus contractual commitments, accountancy and legal fees should be held in reserve. In addition, recent global events and the cost of living crisis indicate that to provide sufficient resilience, a higher level of reserves is desirable. Currently, NCDT's free reserves are £38,248 (2023 - £30,424) and trustees recognise the need to build up reserves to an appropriate level.


New Cumnock Development Trust (Registered number: SC583682)

Report of the Trustees
for the Year Ended 31 March 2024

FUTURE PLANS
Capital Renovation Projects NCDT will continue the capital renovation of both the Castle Hotel and the Trotters building. With funding already secured and a main contractor appointed, focus will be on the Trotters refurbishment. Phase 1 of the Castle Hotel renovation will complete and NCDT will consider if a change to the professional team is appropriate in order to take this project forward.

Community Sports and Health Initiatives Negotiations will continue to work towards establishing a sustainable future for the proposed transfer of community assets. It is also recognised that Fit Fest should become an annual event, after the success of the inaugural event. Plans are underway for future Fit Fest events.

Community Engagement NCDT will continue engaging with the community through various activities, including our Heritage Halloween Walk and Easter Scavenger Hunt These events allow us to share information informally about larger NCDT projects and encourage broader community involvement, including volunteering.

Reuse Hub textile technician roles continued until August 2024. After that date the Clothing Doctor service moved on a temporary basis to NCDT offices until a formal lease is agreed

Youth Work Due to staffing constraints, youth groups will remain as monthly sessions with occasional additional activities. A boys' group will provide similar opportunities to the girls' groups.

Partnerships and Support We will strengthen existing relationships with New Cumnock Primary School, NC Working Men's Club, Glenafton JFC, NC Community Football Club, East Ayrshire Council and East Ayrshire Leisure Trust. Additionally, we will continue providing administrative, funding and practical support to the groups in the community.

Organisational Strengthening NCDT became VAT registered during the next financial year backdated to 2023..

Anticipated Challenges We anticipate another challenging year due to the complex nature of projects and organisational changes, whilst also maintaining our face-to-face contact with the community. Staff and Trustees will continue to learn from all undertaken work, reinforcing NCDT's ability to drive forward the community's identified priorities.

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.

The governing document for the charity is in the form of Articles of Association.

Recruitment and appointment of new trustees
The board can consist of a maximum of 12 trustees - up to 9 of the trustees can be elected from ordinary members, up to 3 can be elected by the board, and 1 trustee can be appointed by New Cumnock Community Council.


New Cumnock Development Trust (Registered number: SC583682)

Report of the Trustees
for the Year Ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
New Cumnock Development Trust is a two-tier charity limited by guarantee; the Board of Trustees, who are responsible for the governance, stewardship and overall strategic direction of the organisation and the members. People who live in New Cumnock are eligible to be ordinary members and they elect trustees and vote on any constitutional matters. Staff carry out the day to day operations of the charity, under close direction and support of the trustees.

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of New Cumnock Development Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware;
and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Accountants Plus (Hamilton) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 29 April 2025 and signed on its behalf by:





Angus Hart - Trustee

Report of the Independent Auditors to the Members of
New Cumnock Development Trust

Opinion
We have audited the financial statements of New Cumnock Development Trust (the 'charitable company') for the year ended 31 March 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).

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 31 March 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.

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 the provisions available for small entities, in the circumstances set out in note 20 to the financial statements, 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.

Report of the Independent Auditors to the Members of
New Cumnock Development Trust


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.

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 requires us to report to you if, in our opinion:
- adequate 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 (who are also the directors of the charitable company for the purposes of company law) 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.

Report of the Independent Auditors to the Members of
New Cumnock Development Trust


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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks.

The key factors impacting the detection of irregularities are the inherent difficulty in detecting irregularities, the effectiveness of the company's controls and the nature, timing and extent of the audit procedures performed.

We note that it can be harder to detect irregularities arising due to fraud as they may involve deliberate concealment or collusion. We focused on laws and regulations that could give rise to a material misstatement in the financial statements Including, but not limited to, the Companies Act 2006, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Charities and Trustee Investment (Scotland) Act 2005 and significant regulations relating to the sector in which the company operates.

Our procedures in relation to fraud and irregularities included but were not limited to:
- Inquiries of management whether they have knowledge of any actual, suspected or alleged fraud.

- Gaining an understanding of the legal and regulatory framework through discussion with management and identifying how the entity ensures compliance through a review of systems. Assessing the collective ability of the audit team to identify or recognize non-compliance with laws and regulations. We identified the following as significant laws and regulations for this company - Scottish charity regulations.

- Gaining an understanding of the internal controls established to mitigate risk related to fraud.

- Making an assessment of the susceptibility of the charity's financial statements to material misstatement.

- Carrying out a review of accounting systems and procedure and making an assessment on the effectiveness of its control environment.

- Identifying the principal risks where fraud could take place eg posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates and significant one-off or unusual transaction. Discussion of these matters by the audit team.


Report of the Independent Auditors to the Members of
New Cumnock Development Trust

- Addressing the risk of fraud through management override of controls by performing journal entry testing.

- Review of board minutes and relevant correspondence with regulators and legal advisors.

- Agreement of the financial statement disclosures to underlying supporting documentation.

The primary responsibility for the prevention and detection of irregularities including fraud rests with both those charged with governance and management.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In particular, the more removed from the financial transactions, the less likely it is that we would become aware of non-compliance with laws and regulations.

As a result of our procedures, we did not identify any key audit matters relating to irregularities.

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.

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. Our audit work has been undertaken so that we might state to the charitable company's members 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.




Fiona Struthers (Senior Statutory Auditor)
for and on behalf of Accountants Plus (Hamilton) Ltd
T/A Accountants Plus
Statutory Auditor
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

29 April 2025

New Cumnock Development Trust

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 2,784 720,149 722,933 637,971

Other trading activities 3 2,049 2,063 4,112 -
Investment income 4 9,103 - 9,103 4,572
Total 13,936 722,212 736,148 642,543

EXPENDITURE ON
Charitable activities 5
Charitable Activities 4,857 248,507 253,364 336,992

NET INCOME 9,079 473,705 482,784 305,551
Transfers between funds 17 (1,077 ) 1,077 - -
Net movement in funds 8,002 474,782 482,784 305,551

RECONCILIATION OF FUNDS
Total funds brought forward 30,424 1,105,642 1,136,066 830,515

TOTAL FUNDS CARRIED FORWARD 38,426 1,580,424 1,618,850 1,136,066

New Cumnock Development Trust (Registered number: SC583682)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 13 - 902,210 902,210 435,376

CURRENT ASSETS
Debtors 14 - 220,937 220,937 364
Cash at bank and in hand 67,645 647,724 715,369 757,451
67,645 868,661 936,306 757,815

CREDITORS
Amounts falling due within one year 15 (29,217 ) (190,449 ) (219,666 ) (57,125 )

NET CURRENT ASSETS 38,428 678,212 716,640 700,690

TOTAL ASSETS LESS CURRENT
LIABILITIES

38,428

1,580,422

1,618,850

1,136,066

NET ASSETS 38,428 1,580,422 1,618,850 1,136,066
FUNDS 17
Unrestricted funds 38,428 30,424
Restricted funds 1,580,422 1,105,642
TOTAL FUNDS 1,618,850 1,136,066

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 29 April 2025 and were signed on its behalf by:





Angus Hart - Trustee

New Cumnock Development Trust

Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 286,397 409,392
Net cash provided by operating activities 286,397 409,392

Cash flows from investing activities
Purchase of tangible fixed assets (486,971 ) (229,751 )
Sale of tangible fixed assets - 419
Interest received 9,103 4,572
Net cash used in investing activities (477,868 ) (224,760 )

Change in cash and cash
equivalents in the reporting
period


(191,471


)


184,632
Cash and cash equivalents at the
beginning of the reporting period

2

757,451

572,819
Cash and cash equivalents at the
end of the reporting period

2

565,980

757,451

New Cumnock Development Trust

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.3.24 31.3.23
£    £   
Net income for the reporting period (as per the Statement
of Financial Activities)

482,784

305,551
Adjustments for:
Depreciation charges 20,137 10,590
Interest received (9,103 ) (4,572 )
(Increase)/decrease in debtors (220,110 ) 52,730
Increase in creditors 12,689 45,093
Net cash provided by operations 286,397 409,392

2. ANALYSIS OF CASH AND CASH EQUIVALENTS
31.3.24 31.3.23
£    £   
Cash in hand 385 385
Notice deposits (less than 3 months) 714,984 757,066
Overdrafts included in bank loans and overdrafts falling due
within one year

(149,389

)

-
Total cash and cash equivalents 565,980 757,451



3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 757,451 (42,082 ) 715,369
Bank overdraft - (149,389 ) (149,389 )
757,451 (191,471 ) 565,980
Total 757,451 (191,471 ) 565,980

New Cumnock Development Trust

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

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of the assets held by the charity.

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.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled within the reporting period.

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the statement of financial position as deferred income to be released.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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

Charitable activities
Charitable activities comprises those costs incurred by the charity in the delivery of its 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.


New Cumnock Development Trust

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

1. ACCOUNTING POLICIES - continued

Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustee's meetings and reimbursed expenses.

Allocation and apportionment of costs
Support costs have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by time spent and other costs by their usage.

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


Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Basic financial instruments
Debtors
Short term debtors are measured at the transaction price, less any impairment. Loan receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Reserves
It is the policy of the charity to maintain three months average expenditure as reserves.

New Cumnock Development Trust

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

2. DONATIONS AND LEGACIES
31.3.24 31.3.23
£    £   
Donations 10,101 14,230
Grants 712,832 623,741
722,933 637,971

Grants received, included in the above, are as follows:

31.3.24 31.3.23
£    £   
Windfarm Community Benefits Fund 148,131 220,185
DTA Scotland 4,500 5,000
Scottish Midland - 200
Scottish Power 99,738 -
East Ayrshire Council 149,389 223,020
Shire Housing Association - 3,588
NHS Ayr & Arran - 3,336
Foundation Scotland 125,000 18,000
Youth Scotland - 2,725
Scottish Government - 45,731
Inspiring Scotland - 90,952
School for Social 2,000 -
Community Ownership Fund 182,073 -
Other grants 2,001 11,004
712,832 623,741

3. OTHER TRADING ACTIVITIES
31.3.24 31.3.23
£    £   
Club income 4,112 -

4. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Deposit account interest 9,103 4,572


New Cumnock Development Trust

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

5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 6) note 7) Totals
£    £    £    £   
Charitable Activities 231,099 12,215 10,050 253,364

6. GRANTS PAYABLE
31.3.24 31.3.23
£    £   
Charitable Activities 12,215 75,967


7. SUPPORT COSTS
Governance
costs
£   
Charitable Activities 10,050

8. NET INCOME/(EXPENDITURE)

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

31.3.24 31.3.23
£    £   
Auditors' remuneration 8,850 8,760
Auditors' remuneration for non audit work 1,200 -
Other non-audit services - 1,440
Depreciation - owned assets 20,137 10,590

9. TRUSTEES' REMUNERATION AND BENEFITS

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


Trustees' expenses

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



New Cumnock Development Trust

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

10. STAFF COSTS
31.3.24 31.3.23
£    £   
Wages and salaries 148,781 131,820
148,781 131,820

The average monthly number of employees during the year was as follows:

31.3.24 31.3.23
Office and support staff 10 7

No employees received emoluments in excess of £60,000.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 12,779 625,192 637,971

Investment income 4,572 - 4,572
Total 17,351 625,192 642,543

EXPENDITURE ON
Charitable activities
Charitable Activities 6,538 330,454 336,992

NET INCOME 10,813 294,738 305,551
Transfers between funds 419 (419 ) -
Net movement in funds 11,232 294,319 305,551

RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported 13,347 831,513 844,860
Prior year adjustment 5,845 (20,190 ) (14,345 )
As restated 19,192 811,323 830,515

TOTAL FUNDS CARRIED
FORWARD

30,424

1,105,642

1,136,066

New Cumnock Development Trust

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

12. PRIOR YEAR ADJUSTMENT

In accordance with the requirements of FRS 102, the cost of freehold property is required to be depreciated unless it is classed as investment property or where the charity has a policy of revaluation. This had not previously been considered by the trustees and a prior year adjustment totalling £14,343 was included within the 2023 accounts.

In addition, the restricted reserves were not disclosed in line with FRS 102 requirements previously. A prior year adjustment was processed in 2023 to bring this disclosure in line with the requirements.

The 2022 accounts were unaudited.

13. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2023 454,295 9,142 463,437
Additions 486,162 809 486,971
At 31 March 2024 940,457 9,951 950,408
DEPRECIATION
At 1 April 2023 23,429 4,632 28,061
Charge for year 18,809 1,328 20,137
At 31 March 2024 42,238 5,960 48,198
NET BOOK VALUE
At 31 March 2024 898,219 3,991 902,210
At 31 March 2023 430,866 4,510 435,376

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 149,389 -
Other debtors - 364
VAT 71,548 -
220,937 364


New Cumnock Development Trust

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

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 16) 149,389 -
Trade creditors - 27,716
Social security and other taxes 5,771 1,109
VAT 463 -
Pension fund 3,111 1,348
Accruals and deferred income 60,932 26,952
219,666 57,125

16. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year on demand:
Bank overdrafts 149,389 -


New Cumnock Development Trust

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

17. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.23 in funds funds 31.3.24
£    £    £    £   
Unrestricted funds
General Fund 30,424 9,081 (1,077 ) 38,428

Restricted funds
Fixed Assets Reserve 435,375 (20,137 ) 459,733 874,971
Brocklochrig 2 75,976 (2,490 ) (59,213 ) 14,273
Wind Farm Community Benefits
Fund

62,381

6,501

-

68,882
Afton Wind Farm Red Rock Power 136,702 51,335 (78,999 ) 109,038
Community Renewal Fund 1,063 (1,063 ) - -
Investing in Communities Fund,
Scottish Government

(1,307

)

12

-

(1,295

)
Harehill Extension Wind Farm,
Scottish Power

257,044

17,135

(131,346

)

142,833
Brocklochrig 1 2,856 - - 2,856
Community Mental Health and
Wellbeing Fund

2,287

(1,073

)

-

1,214
Supporting Communities Fund û
Covid 19

10,680

-

-

10,680
Young Deciders - SK Foundation
Scotland

350

(350

)

-

-
Development Trust Association
Scotland VDL

-

4,500

-

4,500
Development Trust Association
Scotland Green Shoots

325

(325

)

-

-
RJ McLeod 75 (75 ) - -
Arnold Clark - Youth Worth 331 (331 ) - -
EAC Covid 196 (196 ) - -
Shire Housing - Activities 1,495 (1,082 ) - 413
Town Centre Regeneration Fund 11,231 (98 ) (9,158 ) 1,975
Renewable Energy Fund -21 Castle 15,846 - - 15,846
51 Castle Feasibility 2,548 (868 ) - 1,680
Garden Group 656 (195 ) - 461
Garden Group - 1 1,934 1,029 - 2,963
Garden Group Scotmid 200 - - 200
Running Group NCCF Grant 302 (225 ) - 77
Girls Group - NCCF Grant 2,000 (2,000 ) - -
Youth Group 123 (122 ) - 1
Youth Group - NCCF Grant 774 (774 ) - -
Shire Housing - Warm Space 2,605 (658 ) - 1,947
Renewable Energy Fund, East
Ayrshire Council

-

149,388

(132,493

)

16,895
Youth Scotland - Youth Work 1,222 (1,222 ) - -
Youth Scotland - Spring Fund 2 (2 ) - -
Development Trust Association
Scotland - Acorns to Trees

5,000

-

-

5,000
Inspiring Scotland 57,370 (1,191 ) (47,447 ) 8,732

New Cumnock Development Trust

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

17. MOVEMENT IN FUNDS - continued
Windy Rigg Wind Farm,
Foundation Scotland

18,000

(5,226

)

-

12,774
Network 76 - 1,796 - 1,796
SKWF - 97,334 - 97,334
Community Ownership Fund - 182,073 - 182,073
SSE - 2,000 - 2,000
SHIREGDN - 50 - 50
Food Larder - 253 - 253
1,105,642 473,703 1,077 1,580,422
TOTAL FUNDS 1,136,066 482,784 - 1,618,850

New Cumnock Development Trust

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

17. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General Fund 13,936 (4,855 ) 9,081

Restricted funds
Fixed Assets Reserve - (20,137 ) (20,137 )
Brocklochrig 2 2 (2,492 ) (2,490 )
Wind Farm Community Benefits
Fund

21,767

(15,266

)

6,501
Afton Wind Farm Red Rock Power 148,130 (96,795 ) 51,335
Community Renewal Fund - (1,063 ) (1,063 )
Investing in Communities Fund,
Scottish Government

-

12

12
Harehill Extension Wind Farm,
Scottish Power

77,971

(60,836

)

17,135
Community Mental Health and
Wellbeing Fund

(1

)

(1,072

)

(1,073

)
Young Deciders - SK Foundation
Scotland

-

(350

)

(350

)
Development Trust Association
Scotland VDL

4,500

-

4,500
Development Trust Association
Scotland Green Shoots

-

(325

)

(325

)
RJ McLeod - (75 ) (75 )
Arnold Clark - Youth Worth - (331 ) (331 )
EAC Covid - (196 ) (196 )
Shire Housing - Activities 750 (1,832 ) (1,082 )
Town Centre Regeneration Fund - (98 ) (98 )
51 Castle Feasibility 1 (869 ) (868 )
Garden Group - (195 ) (195 )
Garden Group - 1 2,000 (971 ) 1,029
Running Group NCCF Grant (102 ) (123 ) (225 )
Girls Group - NCCF Grant 2 (2,002 ) (2,000 )
Youth Group 5,028 (5,150 ) (122 )
Youth Group - NCCF Grant - (774 ) (774 )
Shire Housing - Warm Space - (658 ) (658 )
Renewable Energy Fund, East
Ayrshire Council

149,388

-

149,388
Youth Scotland - Youth Work - (1,222 ) (1,222 )
Youth Scotland - Spring Fund - (2 ) (2 )
Inspiring Scotland - (1,191 ) (1,191 )
Windy Rigg Wind Farm,
Foundation Scotland

-

(5,226

)

(5,226

)
Network 76 3,300 (1,504 ) 1,796
SKWF 125,000 (27,666 ) 97,334
Community Ownership Fund 182,073 - 182,073
SSE 2,000 - 2,000

New Cumnock Development Trust

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

17. MOVEMENT IN FUNDS - continued
SHIREGDN 150 (100 ) 50
Food Larder 253 - 253
722,212 (248,509 ) 473,703
TOTAL FUNDS 736,148 (253,364 ) 482,784


New Cumnock Development Trust

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

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Prior Net Transfers
year movement between At
At 1.4.22 adjustment in funds funds 31.3.23
£    £    £    £    £   
Unrestricted funds
General Fund 13,347 5,845 10,813 419 30,424

Restricted funds
Restricted Funds 831,513 (831,513 ) - - -
Fixed Assets Reserve - 216,633 (10,590 ) 229,332 435,375
Brocklochrig 2 - 104,140 (3,542 ) (24,622 ) 75,976
Wind Farm
Community Benefits
Fund


-


43,853


18,528


-


62,381
Afton Wind Farm Red
Rock Power

-

132,629

5,023

(950

)

136,702
Community Renewal
Fund

-

6,875

(5,812

)

-

1,063
Investing in
Communities Fund,
Scottish Government


-


26,218


(27,525


)


-


(1,307


)
Harehill Extension
Wind Farm, Scottish
Power


-


192,138


64,906


-


257,044
Brocklochrig 1 - 5,699 (2,843 ) - 2,856
UK Community
Renewal Fund, East
Ayrshire Council


-


(336


)


1,789


(1,453


)


-
Community Mental
Health and Wellbeing
Fund


-


22,601


(20,314


)


-


2,287
Supporting
Communities Fund û
Covid 19


-


10,680


-


-


10,680
Young Deciders - SK
Foundation Scotland

-

1,000

(650

)

-

350
Development Trust
Association Scotland
Green Shoots


-


4,800


(4,475


)


-


325
RJ McLeod - 75 - - 75
Arnold Clark - Youth
Worth

-

1,805

(1,474

)

-

331
EAC Covid - 196 - - 196
Shire Housing -
Activities

-

1,209

286

-

1,495
Town Centre
Regeneration Fund

-

14,530

(90

)

(3,209

)

11,231
Renewable Energy
Fund -21 Castle

-

21,716

(5,870

)

-

15,846

New Cumnock Development Trust

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

17. MOVEMENT IN FUNDS - continued
51 Castle Feasibility - 2,548 - - 2,548
Arnold Clark - Garden
Group

-

288

(288

)

-

-
Garden Group - 764 (108 ) - 656
Garden Group - 1 - - 1,934 - 1,934
Garden Group
Scotmid

-

-

200

-

200
Running Group NCCF
Grant

-

-

302

-

302
Girls Group - NCCF
Grant

-

-

2,000

-

2,000
Youth Group - - 123 - 123
Youth Group - NCCF
Grant

-

-

774

-

774
Shire Housing -
Warm Space

-

-

2,605

-

2,605
Place Based
Investment Fund,
East Ayrshire Council


-


-


97,000


(97,000


)


-
Renewable Energy
Fund, East Ayrshire
Council


-


-


74,801


(74,801


)


-
Youth Scotland -
Youth Work

-

1,262

(40

)

-

1,222
Youth Scotland -
Spring Fund

-

-

2

-

2
Development Trust
Association Scotland
- Acorns to Trees


-


-


5,000


-


5,000
Inspiring Scotland - - 85,086 (27,716 ) 57,370
Windy Rigg Wind
Farm, Foundation
Scotland


-


-


18,000


-


18,000
831,513 (20,190 ) 294,738 (419 ) 1,105,642
TOTAL FUNDS 844,860 (14,345 ) 305,551 - 1,136,066

New Cumnock Development Trust

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

17. 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 17,351 (6,538 ) 10,813

Restricted funds
Fixed Assets Reserve - (10,590 ) (10,590 )
Brocklochrig 2 1 (3,543 ) (3,542 )
Wind Farm Community Benefits
Fund

19,996

(1,468

)

18,528
Afton Wind Farm Red Rock Power 125,098 (120,075 ) 5,023
Community Renewal Fund 1 (5,813 ) (5,812 )
Investing in Communities Fund,
Scottish Government

46,135

(73,660

)

(27,525

)
Harehill Extension Wind Farm,
Scottish Power

75,091

(10,185

)

64,906
Brocklochrig 1 - (2,843 ) (2,843 )
UK Community Renewal Fund,
East Ayrshire Council

51,219

(49,430

)

1,789
Community Mental Health and
Wellbeing Fund

-

(20,314

)

(20,314

)
Young Deciders - SK Foundation
Scotland

-

(650

)

(650

)
Development Trust Association
Scotland Green Shoots

-

(4,475

)

(4,475

)
Arnold Clark - Youth Worth - (1,474 ) (1,474 )
Shire Housing - Activities 325 (39 ) 286
Town Centre Regeneration Fund - (90 ) (90 )
Renewable Energy Fund -21 Castle - (5,870 ) (5,870 )
Arnold Clark - Garden Group - (288 ) (288 )
Garden Group - (108 ) (108 )
Garden Group - 1 5,000 (3,066 ) 1,934
Garden Group Scotmid 200 - 200
Running Group NCCF Grant 2,102 (1,800 ) 302
Girls Group - NCCF Grant 2,000 - 2,000
Youth Group 958 (835 ) 123
Youth Group - NCCF Grant 2,000 (1,226 ) 774
Shire Housing - Warm Space 3,589 (984 ) 2,605
Place Based Investment Fund,
East Ayrshire Council

97,000

-

97,000
Renewable Energy Fund, East
Ayrshire Council

74,801

-

74,801
Youth Scotland - Youth Work 1,725 (1,765 ) (40 )
Youth Scotland - Spring Fund 1,000 (998 ) 2
Development Trust Association
Scotland - Acorns to Trees

5,000

-

5,000
Inspiring Scotland 90,951 (5,865 ) 85,086

New Cumnock Development Trust

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

17. MOVEMENT IN FUNDS - continued
Windy Rigg Wind Farm,
Foundation Scotland

18,000

-

18,000
Network 76 3,000 (3,000 ) -
625,192 (330,454 ) 294,738
TOTAL FUNDS 642,543 (336,992 ) 305,551

Description of Funds

1, Place Based Investment Fund, East Ayrshire Council - to support the capital renovation project regarding the former Castle Hotel, which will be converted into a community-led tourism facility

2. Renewable Energy Fund, East Ayrshire Council - to support the capital renovation project regarding the former Castle Hotel, which will be converted into a community-led tourism facility

3. Inspiring Scotland - to support the capital renovation project regarding the Trotters building, which will be converted into a space to be utilised by the community

4. Investing in Communities Fund, Scottish Government - extension of support to deliver community engagement activities, due to the impact of Covid

5. Harehill Wind Farm, Scottish Power - community benefit funds to be used for education, cultural, environmental, recreational, sporting and benevolent purposes for the community of New Cumnock.

6. Harehill Extension Wind Farm Scottish Power - community benefit funds to be used for the benefit of the community of New Cumnock.

7. Windy Rigg Wind Farm, Foundation Scotland - community benefit funds to be used to support community-led development in line the community plans and priorities of New Cumnock

8. Afton Wind Farm Red Rock Power - community benefit funds to be used to develop projects for the benefit of the community of New Cumnock.

9. Brocklochrig 1 - community benefit funds to be used for appropriate causes to benefit the community of New Cumnock.

10. Brocklochrig 2 - community benefit funds to be used to develop projects for the benefit of the community of New Cumnock

11. Community Renewal Fund - continuation of community support following the impact of covid

12. Community Mental Health and Wellbeing Fund - to support mental health and wellbeing focused activities in New Cumnock including targeted support for the walking group, running club and facilities at Greenhead Park


New Cumnock Development Trust

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

17. MOVEMENT IN FUNDS - continued

13. Town Centre Regeneration Fund - to support purchase and development of the former Castle Hotel

14. Renewable Energy Fund, East Ayrshire Council 21 Castle - to support alterations at 21 Castle building including feasibility and options appraisal work

15. Supporting Communities Fund - Covid 19 - underspend to be used to support migration to digital ways of working

16. Development Trust Association Scotland Acorns to Trees - to support provision of expert VAT guidance

17. South Kyle Wind Farm - Partnership with other communities to deliver benefits to New Cumnock

18. UK Community Ownership Fund - for capital refurbishment of trotters building

17. Other grants under £5,000- various community benefit projects

18. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the financial statements 2,075,296 -

19. RELATED PARTY DISCLOSURES

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

20. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements.