The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's, 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)” (as amended for accounting periods commencing from 1 January 2016)
The charity's objects are to protect, preserve, manage and conserve for the benefit of the local community and the nation as a whole the environment of that area of land at the mouth of the Keilor Burn between High Water Mark Spring Tide, and the fences and walls of the North Mains of Ethie, bounded on the South by the lands of Ethie Haven and on the North by the lands of Corbie Knowe and to protect, preserve and conserve the existing natural habitat and flora and fauna of the area and there has been no change in these during the year.
In order to achieve the objectives, the aims of the charity are:
1. introduce measures to prevent the pollution or any other kind of abuse of, the waters of the Keilor Burn;
2. construct properly engineered defences to protect the Area from erosion by the elements and the sea;
3. promote the status of the Area as a site worthy of conservation and as a site of Special Scientific Interest;
4. permit public access to the Area, and especially to the beach, via the public rights of way across the Area which are already in place;
5. repair and maintain the facilities currently available to the public within the area, such as bridges and footpaths in the Area to which the public have access.
6. generally, carry out conservation works of demonstrable public benefit which will enhance in an material way the environment in the Area; and
7. purchase and thereafter own and manage the Area.
The trustees have paid due regard to guidance issued by the Charity Commission and Office of Scottish Charity Regulator in deciding what activities the charity should undertake.
We have continued to maintain a register of voluntary activities kept by the Keilor Trust so we can have a better understanding of the hours of voluntary work and activities that go into fulfilling the objectives of the Trust.
Register of Voluntary Activities
Date | Activity | Persons involved | Time and materials donated |
Various dates April - September 2024 | Grass cutting of core path areas and general maintenance. | D.Porteous | 8hrs |
Various dates April - September 2024 | Grass cutting | B.McLean | 7hrs |
| Grass cutting and path maintenance | R. Walker | 6 hrs |
April to September 2024 | Board Correspondence | Richard Walker David Walker Janet Ramsey | 10 hrs 8 hrs 4 hrs
|
14th September 2024 | MSC Beach Cleans
| V. Murray (coordinator) 14 additional volunteers | 12hrs
20hrs
|
October - December | Board Correspondence and meetings | R. Walker D. Walker J. Ramsey V. Murray | 10hrs 10hrs 2hrs 2hrs |
Jan-February 2025 | Board Correspondence and AGM/EGM meeting
| R. Walker D. Walker. J. Ramsey V. Murray | 4hrs 4hrs 4hrs 4hrs |
Keilor Trust Directors Report and Activities from April 2024 to April 2025
The Keilor Trust is an Environmental Charity whose activities are carried out at Lunan Bay in Angus.
Progress Against Charitable Activities:
The objectives of the Keilor Trust are to protect preserve, manage and conserve for the benefit of the local community and the nation as a whole the natural environment of the land at the mouth of the Keilor Burn bounded on the south by the lands of Ethie Haven and by the north by the lands of the Corbie Knowe. This area includes part of the south of Lunan Beach, a section of the Angus Coastal walkway and is an area of Special Scientific Interest.
To promote the status of the area as a site worthy of conservation and a site of Specific Scientific Interest. Keilor Trust Members continue to assist Naturescot (Formerly Scottish National Heritage SNH) maintain the area of Special Scientific Interest.
To permit public access to the area and especially to the beach via the public right of way across the area which already in place and Repair and Maintain the facilities currently available to the public. Keilor Trust members and volunteers have been active with in cutting grass and maintaining the paths and rights of way to keep them clear and by doing so guide members of the public on the designated pathway and away from the SSSI areas to protect them.
Carry out Conservation works of a demonstrable public benefit which will enhance in a material way the environment in the area. The 2024 Lunan Bay (South) community Beach Clean was held on Saturday, 14th September 2024. Fourteen volunteers cleaned 500 metres of beach over three and a half hours, collecting over 25 kg of material.
A record of the survey of one 100-metre stretch of beach was submitted to the Marine Conservation Society as part of their ‘Great British Beach Clean’ activity.
The group included residents from Ethie Haven and the Sandy Brae hamlet, as well as members of The Keilor Trust and The Corbie Community. All waste material was removed for disposal at Arbroath, Laurencekirk and Forfar Recycling Centres. The survey record for 100 metres was submitted to the Marine Conservation Society as part of the Great British Beach Clean. The beach is also informally cleaned by volunteers on a weekly basis throughout the year
Advance the Education of the local community generally concerning the environment and the conservation projects within the area.
Long Term Progress Against Objectives
The Trustees had a majority agreement to close the charity down in 2020, and subsequently applied for and gained approval from OSCR in 2021 to do this. Part of the closure process was sale of the Keilor Trust land to the hut owners whose huts and caravans exist on the site.
This has finally come to a conclusion on the 20th December 2024 where the land sale was completed and the funds raised. The monies have been transferred all as per OSCR approval letter on the 6th February 2025 to the charities Lunan Bay Communities Partnership (SC050906) £14,000 and Marine Conservation Society (SC037480) £6,000.
This can now lead to the final winding up of the Keilor Trust.
The charity made a deficit of £22,124. (2024 - surplus of £3,243).
The Trustees' hold cash reserves of £0 at 31 March 2025.
Unrestricted funds have fallen to £0 (2024 - £22,124).
The reason for the deficit and £0 funds is due to the charity ceasing to operate. During this year the charity sold its only asset, the land bank, and then distributed the disposal proceeds to two charities, by donating £14,000 to the Lunan Bay Communities Partnership and a further £6,000 to the Marine Conservation Society.
As outlined in the Financial Review, the charity has sold it land and distributed its funds to other charitable organisations. The charity trustees will now organise for the charity to be dissolved and therefore the charity can not be regarded as a going concern.
Reserves have all been distributed to other charitable organisations and therefore there are no reserves left within the charity.
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Any potential issues which arise are discussed with the Trustees and any necessary action is delegate to the relevant Trustee who has the expertise to resolve the situation.
The charity is a company limited by guarantee and is controlled by its governing document, the memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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:
Appointment of trustees is governed by the Memorandum and Articles of Association. The board of director's of The Keilor Trust are authorised to appoint new trustees to fill vacancies which arise or create new posts as required.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' meet at regular intervals to oversee the running of the charity.
Where trustees require training for their particular post, such training is provided by the current board of directors.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages 6 to 13.
It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.
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.
In the course of 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 Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from discontinued activities.
Keilor Trust is a private company limited by guarantee incorporated in Scotland. The registered office is 38 Elliot Street, Arbroath, Angus, DD11 3BZ.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements are not prepared on the going concern basis. The trustees have have sold the land owned by the charity and now the trustees will arrange for the charity to be dissolved.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable Activities
Charitable expenditure 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.
Property, plant and equipment 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:
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.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including trade and other payables 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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.
There were no disclosable related party transactions during the year (2024 - none).