Charity registration number SC050787 (Scotland)
Company registration number SC670324
FARR NORTH COMMUNITY DEVELOPMENT TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
FARR NORTH COMMUNITY DEVELOPMENT TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
H Black
K Celli
(Appointed 13 March 2024)
C Easthope
(Appointed 13 March 2024)
P Fittock
(Appointed 4 September 2024)
A Hardwick
(Appointed 12 December 2024)
A Herfurt
S Matthews
C Simpson
Secretary
S Lee
Charity number (Scotland)
SC050787
Company number
SC670324
Registered office
Naver Centre
Bettyhill
Thurso
Highland
KW14 7SS
Independent examiner
A.J.B. Scholes Ltd
8 Albert Street
Kirkwall
Orkney
KW15 1HP
FARR NORTH COMMUNITY DEVELOPMENT TRUST
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 16
FARR NORTH COMMUNITY DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's memorandum and articles of association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The trust's objects are:

 

1. to provide or advance the accessibility of recreational, facilities and/ or organising recreational activities, which will be available to members of the community and public at large with the object of improving the conditions of life of the community;

 

2. the advancement of citizenship or community development, including rural or urban regeneration;

 

3. to advance the provisions for educational opportunities in the community relating to environment, culture, heritage and/ or history; and

 

4. to advance environmental protection or improvement including preservation, sustainable development and conservation of the natural environment, the maintenance, improvement or provision of environmental amenities for the community and/ or the preservation of buildings or sites of architectural, historic or other importance to the community.

Achievements and performance
Significant activities and achievements against objectives

Farr North Community Development Trust (Farr North) is owned and run for and by the community of Farr North Sutherland. The ancient Parish of Farr includes the current community council areas of 1) Melvich 2) Strathy and Armadale and 3) Bettyhill Strathnaver and Altnaharra. It is an area of approximately 1000 sq km and is home to slightly less than 1000 people.

This report covers our third full year of activity. We have continued to develop and deliver the key priorities identified in earlier consultations. We have managed to maintain our staffing contingent of 2 part-time staff, although the working hours for these posts has been cut from 25hours per week to 20 hours per week. Post year end we’ve added another post and now employ a part-time project officer for our Farr Goes Project.

TRANSPORT

Lack of access to services and amenities is a chronic issue in our communities. It impacts health and wellbeing. People struggle to attend medical appointments, to take part in community life or even to see friends. Lack of access amplifies the impact of poverty traps, forcing poorer households to make expensive choices and often inhibiting take up of training opportunities or employment.

Thanks to the work of The Sutherland Resilience Initiative, Farr North now has the use of an electric car which is enabling us to begin to address these issues. The car arrived towards the end of the accounting period and its arrival marked the start of frenetic activity to set up the infrastructure to ensure that the car is used properly across the whole area. We convened a Community Steering Group of volunteers to help with planning and executing this work and we are extremely grateful to them for helping us get a service up and running timeously (post year-end). I look forward to being able to report the successes of this project more fully next year and we have enlisted the support of the Social Value Toolkit developed by Deloitte and Ealing Community Transport to provide a rigorous account of our successes.

FARR NORTH COMMUNITY DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

CARE

Our communities asked for projects to ensure that our people are well looked after. This includes older people but there are many others who struggle day to day.

Most of our activity in this arena this year has been funded by Highland Mental Health and Wellbeing Fund (managed by Highland Third Sector Interface). Building on the successes and lessons learned from previous activities, this year we ran a pilot of 10 meetings of a Womens Health and Wellbeing Group. This group attracted 55 attendees and clearly met its outcomes of increasing participation, increasing confidence and reducing isolation. Post year end we are seeking funding to re-launch the initiative. We also supported Bettyhill Writers Group and where able to support the move of the Big Sing Choir to be based in Bettyhill by paying for these groups’ accommodation costs, as well as running a number of other classes.

We were able to convene the first meeting of the North Sutherland Community Groups Forum. This attracted a range of attendees who participated in funding discussions, exploration of how to engage with more volunteers and the importance of outcomes. We intend to continue and develop this initiative.

We ran two village litter picks, one based around Portskerra, and the other in Bettyhill and we hope to organise more of these in the Spring. We also took the opportunity offered by the North Coast Market to provide catering which provided an excellent opportunity to engage folk and talk about what issues where important to them.

There was no Farr Eats project this year, but we have successfully fundraised for Farr Eats 3 which is due to launch in January 2025.

CAP

This year also saw the publication of a Community Action Plan (CAP) prepared by Melvich Community SCIO. Farr North contributed to the collection of data for this work but was excluded from the management of the process. The resulting CAP has been divisive in our community and has been formally rejected by a couple of our Community Councils. Despite this, in general terms, the CAP highlights the continuing development needs in our communities and provides evidence that Farr North continues to move in the right direction.

BETTYHILL SHOP

As noted in the previous accounts, the exploration of the community purchase of the Bettyhill Shop was put on hold in October 2023 as a private buyer appeared to be about to take ownership. Many many months later we are now delighted to be able to welcome Rafey to the shop and we wish Pete and Susan a long and happy retirement.

HOUSING

Throughout the year we have been working closely with Boyd Alexander, Repopulation Coordinator, Highland Council, to map and understand the opportunities to develop more housing around Bettyhill (Bettyhill marks the eastern most extent of Boyd's work area). We have identified the Bettyhill Kirk and Manse as a potential site for community purchase and have made the first tentative steps towards this.

APPRENTICESHIPS

Our Apprenticeship programme continued to support an engineering apprentice at GMG Energy in Strath Halladale and we have been delighted to help Tyler Gunn of Portskerra to successfully secure an apprenticeship in Horticulture and Green Keeping with Thurso Golf Course. We have strengthened our links with the Caithness Chamber of Commerce and with Developing Young Workforce Highland to optimise our marketing of our apprenticeship programme.

FARR NORTH COMMUNITY DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -

MAXIMISE THE BENEFITS ACCRUING FROM LOCAL WIND FARM DEVELOPMENTS

Community Shared Ownership of wind farms is a long-standing aspiration of Scottish Government. For Farr North, it promises security of income to be able to develop the projects our communities ask for. But these developments take a long long time and there is very little tangible progress to report.

At the end of the accounting period SSE Renewables supplied a revised financial model of their proposed (and consented) development at Strathy South. Working with our neighbours at UpNorth! Community Development Trust we have interrogated this model with the help of QMPF (Financial Conduct Authority approved financial consultants). Post year end we have asked SSE Renewables to look again at the terms of the offer it is presenting to the Community. Currently we (Farr North and UpNorth) feel that the offer from SSE Renewables is far short of the promises it made back in 2015 and oft repeated throughout the planning application process.

During this accounting period Eden Renewables was able to secure planning permission for the Bettyhill Phase 2 Wind Farm. Following this our discussions with the developer relating to securing a community share in the wind farm are progressing and we hope to have more to say on this in due course.

Membership

Farr North is run for and by its members. As at 21/11/2024 the Trust has 93 members with 79 of these being full voting members. Full membership is open to any resident of Farr over the age of 16. Associate (non-voting) membership is open to non-residents and residents under the age of 16.

Financial review

Incoming resources in the period totalled £64,793. Resources expended in the period totalled £43,139.

 

The charity's funds at the balance sheet date totalled £95,501 of which £83,314 was held for restricted purposes, as further set out in the notes to the financial statements.

Reserves policy

The trust is committed to maintaining a level of reserves that is prudent to meet its ongoing liabilities and to protect the long-term future of its activities and assets. The trust's reserves policy seeks to balance these priorities by holding a level of reserves sufficient to ensure the availability of sufficient working funds in hand. The trust is committed to securing increased funding for operational activities.

Structure, governance and management

The trust is a company limited by guarantee governed by its Memorandum and Articles of Association. It is registered as a charity with the Office of the Scottish Charities Regulator.

 

Governance

Farr North is an ambitious organisation and with that ambition comes a requirement to manage the organisation properly, in line with best practice and with maximum accountability and transparency. We are delighted to have successfully updated our Articles of Association to bring us into line with the latest guidance relating to Community Right to Buy legislation and we took the opportunity to change our articles to enable community councils to appoint Directors to our Board. In this way we hope to broaden the democratic control of our activity and unify the main drivers of Community Development across Farr.

FARR NORTH COMMUNITY DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

H Black
K Celli
(Appointed 13 March 2024)
M Cook
(Resigned 13 March 2024)
C Easthope
(Appointed 13 March 2024)
P Fittock
(Appointed 4 September 2024)
A Hardwick
(Appointed 12 December 2024)
A Herfurt
S Matthews
C Simpson
Recruitment and appointment of trustees

At our fourth AGM to be held in March/April 2025, there is a requirement for 1/3 of our elected Directors to step down, although they will be eligible for re-election. We currently have EIGHT Directors, including SIX elected directors. The constitution provides for up to NINE elected directors, and a further three co-opted or appointed directors up to a maximum of TWELVE Directors in total.

I would urge all members to consider standing for election to the management board. To be effective the Trust needs representation from all sectors of our community and this includes you!

The Trust has written to all members seeking nomination of Directors and we advertise for Director vacancies on Facebook. New Directors are welcome, of any age or background, but current directors are aware that there is a shortage of younger voices on the Board and of representation from the East of our constituency.

Organisational structure

The board of directors administers the charity. The board meets regularly to discuss the various projects.

 

None of the directors has any beneficial interest in the company. All of the directors are members of the company and agree to contribute £1 in the event of a winding up.

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

..............................
A Herfurt
Trustee
Date: .............................................
2025-05-15
FARR NORTH COMMUNITY DEVELOPMENT TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF FARR NORTH COMMUNITY DEVELOPMENT TRUST
- 5 -

I report on the financial statements of the trust for the year ended 31 August 2024, which are set out on pages 6 to 16.

Respective responsibilities of trustees and examiner

The trust’s trustees, who are also the directors of Farr North Community Development Trust for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

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

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

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

(ii)

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

have not been met or
(b)

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

Ivan Houston CA
Chartered Accountant
Independent Examiner
8 Albert Street
Kirkwall
Orkney
KW15 1HP
Dated: .........................
FARR NORTH COMMUNITY DEVELOPMENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
97
62,882
62,979
34
38,428
38,462
Charitable activities
4
1,814
-
1,814
4,120
-
4,120
Total income
1,911
62,882
64,793
4,154
38,428
42,582
Expenditure on:
Charitable activities
5
739
42,400
43,139
2,521
66,613
69,134
Total expenditure
739
42,400
43,139
2,521
66,613
69,134
Net income/(expenditure) and movement in funds
1,172
20,482
21,654
1,633
(28,185)
(26,552)
Reconciliation of funds:
Fund balances at 1 September 2023
11,015
62,832
73,847
9,382
91,017
100,399
Fund balances at 31 August 2024
12,187
83,314
95,501
11,015
62,832
73,847

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

FARR NORTH COMMUNITY DEVELOPMENT TRUST
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
449
1,188
Current assets
Debtors
11
37,961
18,626
Cash at bank and in hand
61,715
57,618
99,676
76,244
Creditors: amounts falling due within one year
12
(4,624)
(3,585)
Net current assets
95,052
72,659
Total assets less current liabilities
95,501
73,847
The funds of the trust
Restricted income funds
13
83,314
62,832
Unrestricted funds
15
12,187
11,015
95,501
73,847

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

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 accounts, so far as applicable to the company.

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

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on .........................
2025-05-15
..............................
A Herfurt
Trustee
Company registration number SC670324 (Scotland)
FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
1
Accounting policies
Charity information

Farr North Community Development Trust is a private company limited by guarantee incorporated in Scotland. The registered office is Naver Centre, Bettyhill, Thurso, Highland, KW14 7SS.

1.1
Accounting convention

The financial statements have been prepared in accordance with the trust's articles of association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.

 

The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Donations, legacies and other forms of voluntary income are recognised as incoming resources in the Statement of Financial Activities (SOFA) when receivable, except insofar as they are incapable of financial measurement. The value of services provided by volunteers has not been included in these accounts.

 

Grants, including grants for the purchase of fixed assets, are recognised in full in the SOFA in the year in which they are receivable. Grants relating to future accounting periods are deferred.

FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 9 -
1.5
Expenditure

Expenditure is included in resources expended on an accruals basis, inclusive of any VAT which cannot be recovered.

 

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of fundraising events.

 

Charitable expenditure comprises those costs incurred in the delivery of the charity's activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

 

Governance costs include those costs associated with meeting the constitutional and statutory

requirements of the charity.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer Equipment
25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 10 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 11 -
3
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£

Grants receivable

-
62,882
62,882
-
38,428
38,428
Membership fees
97
-
97
34
-
34
Grants receivable for core activities
Salaries and core running costs
-
51,842
51,842
-
886
886
Bettyhill Wind Farm
-
697
697
-
-
-
Bettyhill General Merchants Shop
-
4,550
4,550
-
1,201
1,201
Electric charge point
-
(5,000)
(5,000)
-
-
-
Apprenticeship programme
-
10,793
10,793
-
-
-
Mental health & wellbeing
-
-
-
-
9,500
9,500
Farr Eats meal delivery service
-
-
-
-
26,841
26,841
-
62,882
62,882
-
38,428
38,428
FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 12 -
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Charitable activities
Meal deliveries
-
3,888
Other income from charitable activities
1,814
232
1,814
4,120
5
Expenditure on charitable activities
Charitable activities
Charitable activities
2024
2023
£
£
Direct costs
Depreciation and impairment
739
739
Other overheads
42,400
68,395
43,139
69,134
Analysis by fund
Unrestricted funds
739
2,521
Restricted funds
42,400
66,613
43,139
69,134
6
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
2,148
2,040
Depreciation of owned tangible fixed assets
739
739
7
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 13 -
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10
Tangible fixed assets
Computer Equipment
£
Cost
At 1 September 2023
2,956
At 31 August 2024
2,956
Depreciation and impairment
At 1 September 2023
1,768
Depreciation charged in the year
739
At 31 August 2024
2,507
Carrying amount
At 31 August 2024
449
At 31 August 2023
1,188
11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
37,961
18,626

Other debtors include grants receivable totalling £37,961 (2023: £18,626).

12
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
4,624
3,585
FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 14 -
13
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 September 2023
Incoming resources
Resources expended
At 31 August 2024
£
£
£
£
Salaries and core running costs
10,161
51,842
(11,485)
50,518
Community transport initiative
5,000
(5,000)
-
-
Bettyhill General Merchants Shop
-
4,550
(4,550)
-
Bettyhill Wind Farm shared ownership
3,800
697
(697)
3,800
Apprenticeship programme
22,469
10,793
(19,031)
14,231
Mental health & wellbeing
10,426
-
(6,637)
3,789
Farr Eats meal delivery service
3,207
-
-
3,207
Kirkton Wind Farm shared ownership
3,800
-
-
3,800
Driving qualifications
3,969
-
-
3,969
62,832
62,882
(42,400)
83,314
Previous year:
At 1 September 2022
Incoming resources
Resources expended
At 31 August 2023
£
£
£
£
Salaries and core running costs
39,701
886
(30,426)
10,161
Community transport initiative
(293)
-
5,293
5,000
Bettyhill General Merchants Shop
11,439
1,201
(12,640)
-
Bettyhill Wind Farm shared ownership
3,800
-
-
3,800
Apprenticeship programme
22,469
-
-
22,469
Mental health & wellbeing
3,057
9,500
(2,131)
10,426
Farr Eats meal delivery service
2,915
26,841
(26,549)
3,207
Kirkton Wind Farm shared ownership
3,800
-
-
3,800
Driving qualifications
4,129
-
(160)
3,969
91,017
38,428
(66,613)
62,832
FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
13
Restricted funds
(Continued)
- 15 -

The salaries and core running costs fund represents funding to cover these costs. These costs were supported by Caithness and North Sutherland Fund and SSE Regional Sustainable Development Fund.

 

The community transport initiative fund was a Joint Community Benefit Fund for the installation of an electric vehicle charging point however, this has now been abandoned due to lack of progress and the funds due are no longer receivable.

 

The Bettyhill General Merchants Shop fund represents funding to further the development of the Bettyhill General Merchants Shop, Post Office and filling station. No further funding will be received as the Shop has now been sold to a third party.

 

The Bettyhill Wind Farm shared ownership and Kirkton Wind Farm shared ownership funds represent funding for professional advice in connection with potential participation in these projects. These costs are supported by Local Energy Scotland CARES grants.

 

The apprenticeship fund represents funding to operate a local apprenticeship scheme. Funding has been awarded from the SSE Strathy North Joint Community Benefit Fund over a five year period but as the award is a performance-based grant, the charity is recognising the income in stages over the term of the arrangement.

 

The Mental Health & Wellbeing Fund is a Scottish Government Fund managed by Highland Third Sector Interface to promote health and wellbeing including the provision of classes to the community.

 

The Farr Eats meal delivery fund is to provide a hot meal delivery service at subsidised cost to those in need.

 

The driving qualifications fund is to provide support to individuals seeking driving qualifications and is funded by the SSE Strathy North Joint Community Benefit Fund.

14
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 August 2024:
Tangible assets
449
-
449
Current assets/(liabilities)
11,738
83,314
95,052
12,187
83,314
95,501
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 August 2023:
Tangible assets
1,188
-
1,188
Current assets/(liabilities)
9,827
62,832
72,659
11,015
62,832
73,847
FARR NORTH COMMUNITY DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 16 -
15
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September 2023
Incoming resources
Resources expended
At 31 August 2024
£
£
£
£
General funds
11,015
1,911
(739)
12,187
11,015
1,911
(739)
12,187
Previous year:
At 1 September 2022
Incoming resources
Resources expended
At 31 August 2023
£
£
£
£
Community transport
5,030
-
(5,030)
-
General funds
4,352
4,154
2,509
11,015
9,382
4,154
(2,521)
11,015

The trustees received a donation of £5,030 in the year end 31 August 2022 from North Coast Community Transport Association which was designated for use for community transport-related activities.

16
Related party transactions

There were no disclosable related party transactions during the year.

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