REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 October 2024 |
for |
COMUNN EACHDRAIDH NIS |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 October 2024 |
for |
COMUNN EACHDRAIDH NIS |
COMUNN EACHDRAIDH NIS |
Contents of the Financial Statements |
for the Year Ended 31 October 2024 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 18 |
COMUNN EACHDRAIDH NIS (REGISTERED NUMBER: SC234305) |
Report of the Trustees |
for the Year Ended 31 October 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
1. The advancement of citizenship and community learning and development and in particular the regeneration and improvement of the physical, social and economic infrastructure of the area, including assisting people who are disadvantaged because of social or economic circumstances; |
2. The promotion of local heritage, culture, arts and the Gaelic language through the provision of a museum and archive and the creation of exhibitions, events, publications, facilities and other services related to the historical culture, natural and geographical aspects of the area; to display and publicise the Collection for the public benefit; |
3. To bring together, hold, adequately house, conserve and document a Collection of specimens being of local historical, artistic or scientific importance; |
4. To collect, collate and record historical, genealogical, ethnological, archaeological, biological, geological, or other information relevant to the area; |
5. The development of educational and training opportunities at all levels providing a better understanding of the culture, heritage, history, archaeology and architecture of the area for the benefit of local inhabitants and the general public; and |
6. The development of a community hub for social facilities and activities providing employment and volunteering opportunities. |
Volunteers |
The contribution of volunteers (including directors, members and individuals from the community and the wider diaspora) has been, and continues to be, of immense benefit to the charity in building and maintaining the collection housed in the museum. |
COMUNN EACHDRAIDH NIS (REGISTERED NUMBER: SC234305) |
Report of the Trustees |
for the Year Ended 31 October 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
November 2023 - October 2024 was another successful, busy year at CEN with visitors from all over - local and international. |
In March we said goodbye to 'An Tilleadh' as the Adabrock Hoard and the Dell Sword returned to the National Museum. Artefacts from Galson held in the National Museum came in their place for 'na Dorsan' exhibition. |
The Day Club met every Thursday and as well as having lunch they have enjoyed a wide range of activities. Once again during the winter from November to March the Day Club at Home delivered lunch and activity sheets to members of the community who could not attend in person. It was impossible to have the Day Club at Home from April to October as the place was too busy. The café was so popular that the buzzer system was again used for people waiting for tables. During the summer months a rota of volunteers manned the dish washer as well as manning the door |
After school club took place regularly on a Friday during term time. |
The rear gallery was busy all year with art exhibitions of all kinds, and we also had a visit from the travelling gallery. In the museum you can all see a lovely painting which we had and was in very poor condition. We got funding which enabled us to send it away to be professionally restored and you can see the restoration process in the video beside it. We are indebted to the Association of Independent Museums for enabling this. |
Once again it was obvious during the year was that CEN was suffering from lack of space. As well as the café being very busy at lunch time it had to close to the public very often to accommodate private functions eg funeral lunches, an essential service for the local community. Several meetings have been held with the architects looking at possible plans. Alongside this we have had a number of meetings with a consultant to draw up a business plan. |
As always we are indebted to all our funders - Urras Oighreachd Ghabhsainn; Motability Foundation; Bòrd na Gàidhlig; Comhairle nan Eilean Siar; Prince's Countryside Fund; Robertson Trust; Hugh Fraser Foundation; Western Isles Development Trust; Outer Hebrides Community Led Local Development Fund; Western Isles Lifestyle Lottery; WIIC heritage fund; Association of Independent Museums; Communities Mental Health and Wellbeing Fund ; Scottish Land Fund; Western Isles Development Trust; Maoin nan Ealan Gàidhlig. |
Finally, a big thank you to the local community for their continued support and to the staff for all their hard work and to all the board members and volunteers who helped out in various ways. |
Internal and external factors |
The charity is thankful for the continuing support of public funding agencies and is especially grateful for the assistance given by Urras Oighreachd Ghabhsainn, Comhairle nan Eilean Siar, Highland and Islands Enterprise, Bòrd na Gàidhlig, Scottish Government and other private trusts to assist in the ongoing delivery of the aims and objectives of the organisation. |
FINANCIAL REVIEW |
Principal funding sources |
Details of the charity's principal funding sources are detailed in notes 2, 3, 4 and 5 to the financial statements. |
COMUNN EACHDRAIDH NIS (REGISTERED NUMBER: SC234305) |
Report of the Trustees |
for the Year Ended 31 October 2024 |
FINANCIAL REVIEW |
Reserves policy |
The general fund represents the unrestricted funds from past operating results. It also represents the free reserves of the charity. The projects fund represents grants received from funding agencies in respect of specified revenue and project costs. The charity's programme and funding historically have made it difficult to establish any surplus on general reserves. The board has examined the charity's requirements for reserves in light of the main risks to the charity. It considers that three months of the budgeted annual expenditure should be carried in unrestricted reserves which would equate to approximately £63,000 for the current year. The current level of unrestricted reserves is in excess of this target. |
During the year the charity's incoming resources exceeded resources expended resulting in net expenditure of £77,247 for the period (2023 - net income of £44,606). This represents a decrease of £20,348 in unrestricted funds and a decrease of £56,899 in restricted funds. |
The restricted fund relates mainly to capital and revenue grants received during the year in connection with projects and the renovation of the charity's premises. |
Heat and light has significantly increased this year in comparison to last year. Due to billing errors at SSE during 2022/23, this year includes costs relating to the previous financial year. The energy crisis has also increased the cost overall. |
FUTURE PLANS |
The charity's main objectives for the forthcoming year will be to continue to maintain, preserve and add to its collection and archive, and also to maintain the standards required for its Accredited Status under the Museums, Libraries and Archives Council's Accreditation Scheme. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The trust is a charitable company limited by guarantee, incorporated on 18 July 2002. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. |
Recruitment and appointment of new trustees |
The directors of the company are also charity trustees for the purposes of charity law. |
The elected directors are appointed by the ordinary members at the Annual General Meeting under the terms of the Memorandum and Articles of Association. One half of the elected directors must retire by rotation at each Annual General Meeting. |
Organisational structure |
The board consists of voluntary directors who manage the affairs of the charity through regular board meetings and has reviewed its internal operational structure to assist in the effective management of the organisation. The board members are heavily involved in the day to day operations of the charity. The charity employs a General Manager who assists in the implementation of decisions from the board. |
Induction and training of new trustees |
The charity undertakes training for trustees to ensure awareness and understanding of:- |
- the responsibilities of directors; |
- the organisational structure of the charity; |
- the financial position of the charity; and |
- the future plans and objectives of the charity. |
Wider network |
The charity has established links with other organisations and agencies to foster the aims and objectives of the organisation. |
COMUNN EACHDRAIDH NIS (REGISTERED NUMBER: SC234305) |
Report of the Trustees |
for the Year Ended 31 October 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
J Mackay |
Independent Examiner |
John E Moffat BA FCA |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Comunn Eachdraidh Nis |
I report on the accounts for the year ended 31 October 2024 set out on pages six to eighteen. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
John E Moffat BA FCA |
The Institute of Chartered Accountants in England and Wales |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
23 April 2025 |
COMUNN EACHDRAIDH NIS |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 October 2024 |
31.10.24 | 31.10.23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds | 6 |
Charitable activities | 7 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 90,784 | 1,259,431 | 1,427,462 |
COMUNN EACHDRAIDH NIS (REGISTERED NUMBER: SC234305) |
Balance Sheet |
31 October 2024 |
31.10.24 | 31.10.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 14 |
CURRENT ASSETS |
Stocks | 15 |
Debtors | 16 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 17 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 19 |
Unrestricted funds | 111,132 |
Restricted funds | 1,316,330 |
TOTAL FUNDS | 1,427,462 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
COMUNN EACHDRAIDH NIS (REGISTERED NUMBER: SC234305) |
Balance Sheet - continued |
31 October 2024 |
These financial statements have been prepared in accordance with the special provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements |
for the Year Ended 31 October 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
These accounts are prepared in pound sterling which is the functional currency of the charity and are rounded to the nearest £. |
Going concern |
The trustees have assessed the charity's ability to continue as a going concern and do not consider there to be any material uncertainties about the charity's ability to continue as a going concern. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
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 that affect the amounts reported for assets, liabilities, income and expenditure. |
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 assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in future periods should it affect future periods. |
The estimates and assumptions which carry a higher degree of risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: |
Useful economic lives of tangible fixed assets |
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. They are amended when necessary to reflect current estimates, future investment, economic utilisation and the physical condition of the assets. See note 9 for details of the values of tangible fixed assets. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
1. | ACCOUNTING POLICIES - continued |
Raising funds |
Costs of generating funds comprise the costs of attracting voluntary income and the costs of fundraising activities. |
Charitable activities |
Charitable expenditure comprises those costs incurred by the charity in the delivery of its objects and activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. The allocation of direct and support costs are analysed in the notes to the financial statements. |
Governance costs |
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs linked to the strategic management of the charity. |
Allocation and apportionment of costs |
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. estimated usage. |
Allocation and apportionment of costs |
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. estimated usage. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Buildings | - |
Equipment and fittings | - |
Computer equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Designated funds are unrestricted funds earmarked by the trustees for particular purposes. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
1. | ACCOUNTING POLICIES - continued |
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. |
2. | DONATIONS AND LEGACIES |
31.10.24 | 31.10.23 |
£ | £ |
Donations |
Gift aid |
3. | OTHER TRADING ACTIVITIES |
31.10.24 | 31.10.23 |
£ | £ |
Tearoom income |
Shop income | 68,312 | 61,212 |
4. | INVESTMENT INCOME |
31.10.24 | 31.10.23 |
£ | £ |
Rents received |
Bank account interest |
All investment income arises from assets held within the UK. |
5. | INCOME FROM CHARITABLE ACTIVITIES |
31.10.24 | 31.10.23 |
Activity | £ | £ |
Grants | Museum and heritage centre | 225,685 | 259,346 |
Membership fees | Museum and heritage centre | 2,045 | 1,721 |
CEN In-house publications | Museum and heritage centre | 3,731 | 3,697 |
Hire of facilities | Museum and heritage centre | 492 | 2,705 |
Other income | Museum and heritage centre | 3,204 | 578 |
Employment allowance | Museum and heritage centre | 5,000 | 5,000 |
Grants received, included in the above, are as follows: |
31.10.24 | 31.10.23 |
£ | £ |
Highlands and Islands Enterprise | 5,029 | 3,934 |
Comhairle nan Eilean Siar | 66,599 | 8,278 |
Bord na Gaidhlig | 33,490 | 21,600 |
Urras Oighreachd Ghabhsainn | - | 3,070 |
Carried forward | 105,118 | 36,882 |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
5. | INCOME FROM CHARITABLE ACTIVITIES - continued |
31.10.24 | 31.10.23 |
£ | £ |
Brought forward | 105,118 | 36,882 |
Museums & Galleries Scotland | 4,390 | 58,806 |
The Robertson Trust | 10,000 | 10,000 |
Galson Estate Trust | 7,552 | - |
Western Isles Development Trust | 10,000 | 2,000 |
Association of Independent Museums | 4,590 | - |
National Lottery Community Fund | 32,007 | 28,193 |
The Hugh Fraser Foundation | 5,000 | 5,000 |
The Prince's Countryside Fund | 12,500 | 12,500 |
Motability - Community Transport | 20,920 | 105,965 |
Feisean nan Gaidheal | 540 | - |
Scottish Land Fund | 8,438 | - |
Western Isles Lottery | 750 | - |
Third Sector Hebrides | 500 | - |
Uist Council of Voluntary Organisations | 3,380 | - |
225,685 | 259,346 |
6. | RAISING FUNDS |
Other trading activities |
31.10.24 | 31.10.23 |
£ | £ |
Purchases |
Bad debts | - | 128 |
93,797 | 88,257 |
7. | CHARITABLE ACTIVITIES COSTS |
8. | SUPPORT COSTS |
Governance |
costs |
£ |
Museum and heritage centre | 2,250 |
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.10.24 | 31.10.23 |
£ | £ |
Depreciation - owned assets |
Other operating leases | 1,912 | 1,829 |
Computer software amortisation |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023. |
11. | STAFF COSTS |
31.10.24 | 31.10.23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
258,117 | 214,426 |
The average monthly number of employees during the year was as follows: |
31.10.24 | 31.10.23 |
Charitable activities | 12 | 12 |
Management and administration | 5 | 4 |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 140,107 | 1,242,749 |
TOTAL FUNDS CARRIED FORWARD | 111,134 | 1,316,328 | 1,427,462 |
13. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 November 2023 and 31 October 2024 |
AMORTISATION |
At 1 November 2023 and 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
14. | TANGIBLE FIXED ASSETS |
Equipment |
Plant and | and |
Buildings | machinery | fittings |
£ | £ | £ |
COST |
At 1 November 2023 |
Additions |
At 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
14. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2023 |
Additions |
At 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
15. | STOCKS |
31.10.24 | 31.10.23 |
£ | £ |
Stocks |
16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
Trade debtors |
17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.24 | 31.10.23 |
£ | £ |
VAT | 7,701 | 9,258 |
Accrued expenses |
Deferred government grants |
18. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
31.10.24 | 31.10.23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 3,894 | 1,193,421 | 1,197,315 | 1,247,545 |
Current assets |
Current liabilities | ( | ) | ( | ) | ( | ) | ( | ) |
90,783 | 1,259,432 | 1,350,215 | 1,427,462 |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
19. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
1.11.23 | in funds | 31.10.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 111,132 | (20,349 | ) | 90,783 |
Restricted funds |
Projects fund | 207,492 | (27,379 | ) | 180,113 |
Taigh Dhonnchaidh fund | 8,000 | (2,000 | ) | 6,000 |
Buildings fund | 1,100,838 | (27,519 | ) | 1,073,319 |
(56,898 | ) |
TOTAL FUNDS | (77,247 | ) | 1,350,215 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 258,732 | (279,081 | ) | (20,349 | ) |
Restricted funds |
Projects fund | 225,686 | (253,065 | ) | (27,379 | ) |
Taigh Dhonnchaidh fund | - | (2,000 | ) | (2,000 | ) |
Buildings fund | (1 | ) | (27,518 | ) | (27,519 | ) |
( | ) | (56,898 | ) |
TOTAL FUNDS | ( | ) | (77,247 | ) |
Comparatives for movement in funds |
Net |
At | movement | At |
1.11.22 | in funds | 31.10.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 140,107 | (28,975 | ) | 111,132 |
Restricted funds |
Projects fund | 104,393 | 103,099 | 207,492 |
Taigh Dhonnchaidh fund | 10,000 | (2,000 | ) | 8,000 |
Buildings fund | 1,128,356 | (27,518 | ) | 1,100,838 |
1,242,749 | 73,581 | 1,316,330 |
TOTAL FUNDS | 1,382,856 | 44,606 | 1,427,462 |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
19. | 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 | 210,916 | (239,891 | ) | (28,975 | ) |
Restricted funds |
Projects fund | 259,108 | (156,009 | ) | 103,099 |
Taigh Dhonnchaidh fund | - | (2,000 | ) | (2,000 | ) |
Buildings fund | - | (27,518 | ) | (27,518 | ) |
259,108 | (185,527 | ) | 73,581 |
TOTAL FUNDS | 470,024 | (425,418 | ) | 44,606 |
General fund |
The general fund represents unrestricted funds which the trustees are free to use in accordance with the charitable objects. |
Projects fund |
This represents grants received from public funding agencies and trusts and donations received from groups and individuals to assist with specified revenue and project costs. |
Equipment fund |
This represents grants received from public funding agencies and trusts to assist with the purchase of equipment and fittings. The funds are utilised to fund the future depreciation of the capital expenditure. |
Taigh Dhonnchaidh fund |
This represents the net book value of the property known as Taigh Dhonnchaidh which was donated to the charity in 1998. The property has been valued at £72,750 on 4 February 2004. The funds are utilised to fund the future depreciation of the property. |
Buildings fund |
This represents the value at which the premises at Cross School was transferred from the local authority, Comhairle nan Eilean Siar, to the charity in 2013. The funds are utilised to fund the future depreciation of the property. |
20. | RELATED PARTY DISCLOSURES |
COMUNN EACHDRAIDH NIS |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
21. | LIMITED BY GUARANTEE |
The company is limited by guarantee and has no share capital. The liability of each member in the event of the company being wound up is restricted to £1. |
22. | PERMANENT ENDOWMENTS |
The property known as Taigh Dhonnchaidh has been donated to the charity to be utilised for the continuing appreciation of music and art within the community. A separate charitable limited company has been established to manage and operate the Taigh Dhonnchaidh arts and music centre. |