Charity registration number SC036187
Company registration number SC537692
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
W P Chan
W L Lai
M Lee-Macpherson MBE
A Wu
H T T Cui
Secretary
Senior management
M Lee-Macpherson MBE
Charity Manager
Charity number (Scotland)
SC036187
Company number
SC537692
Registered office
1 Ardconnel Terrace
Inverness
IV2 3AE
Independent examiner
Mark Sanderson Bsc(Hons), CA
MacKenzie Kerr Limited
Chartered Accountants
Redwood
19 Culduthel Road
Inverness
IV2 4AA
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
CONTENTS OF THE FINANCIAL STATEMENTS
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
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 June 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 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)" (effective 1 January 2019).

Objectives and activities

The main purpose of the charity is to advance the education, promote the health and welfare and to relieve the poverty of Chinese people in the Highlands & Islands and Moray. In furtherance of this objective the charity shall seek:

 

1. To facilitate, co-ordinate and organise activities in the areas to promote Chinese culture and to enable Chinese people to integrate into the wider community;

 

2. To encourage wider community involvement with the Chinese population;

 

3. To reflect the opinions of the Chinese population in the area, and act as their voice;

 

4. To provide information, consultation and support for all members and specifically to facilitate individual's communication with the official bodies; and

 

5. To assist individuals in need to access help so as to alleviate their hardship.

Achievements and performance

1. The Cafe continued to be closed in July - Sept during 2023-24, due to Monica injuring her shoulder and was advised to refrain from work.

 

2. There was no Luncheon Club as this hadn't been able to resume due to Monica being off sick.

 

3. The community once again wasn’t able to donate shoeboxes toward the annual Bylthswood Care Christmas Shoebox Appeal again, which the Association has supported since 2008 due to Monica’s continued ill health.

 

4. There were no face-to-face Board meeting during the year 2023-24, however we organised WhatsApp meetings between the committee members to discuss current and future projects.

 

5. We held our AGM on 19th November 2023 at the Royal Highland Hotel, Station Square, Inverness with 85 members and guests including the Inverness Depute Provost and other supporters. The members present re-elected the Trustess and Chairperson. The Accounts of 2022-23 were passed and seconded. Chairperson report was passed. Partly funded by the National Lottery Community Fund Scotland.

 

6. Children Christmas party was held on 16th December 2023 with Santa dropping in with presents for all the children, however we didn’t manage to hold Senior Luncheon Club Xmas Lunch.

 

7. We had our Chinese New Year Celebration in the Inverness Town House on 6th February 2024 with over 80 members and supporters and friends. Once again we were honoured with the presence of the Chinese Deputy Consul General Madam Hou and Depute Provost Morvern Reid together. As usual we employed the Hong Lok Lion and Dragon Dance troupe from Glasgow to entertain the audience. We also took the troupe to various schools in Inverness and as well as this they had performances in Inverness, Forres, Nairn and Elgin.

THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -

8. The Communty Cupboard has continued to be a success with the help of volunteers from Crown Connects who continued to pick up surplus food from Tesco, Co-op, Asda, Bookers and sometimes from Ness Bank Church. We estimate that currently around 500 visitors visit the cupboard each week and help to reduce food waste. We also make up food parcels for families we support with the surrounding areas weekly with surplus food from FareShare projects.

9. The Italian tutor continued her classes renting one of our rooms twice a week until 6th June. However she had to stop teaching as she had a full time job during the day.

10. The Highlands Climate Hub is now the new tenant at our Charles Street office from Feb 2024 which boost our income to our Charity.

11. We had our Cross Generation day trip to visit the Chinese Consulate in Edinburgh and the Edinburgh Zoo with 51 young and older members. This was partly funded by the National Lottery Community Fund Scotland.

12. Members once again were able to purchase Mooncakes for the Moon Festival in September 2023 but we were unable to hold an evening event.

13. The Children‘s Mandarin Class & Children Piano Classes ran as normal. We applied and received from MFR Cash for Kids toys and distributed to over 150 children within our area on our assisted progamme..

14. Although Monica was unable to work at the cafe she continued take part as one of the advisors for the Scottish Government Short Life Working Group on their future Hate Crimes Strategy and is also a forum member of the Highland Council Community Justice Partnership, the monthly meetings for both via zoom.

15. We also hosted a few workshops and consultation meetings on National Care Service Co-Design Consultation, COVID-19 Inquiry and Budget for Budgeting Workshop hosted by CEMVO Scotland for the Scottish Government, also Energy Saving for All Information presented by Changework Resources for Lifewith the Home Energy Highland.

16. We also ran the Food Handler Hygiene Course in Cantones for our Takeaway members and their staff at our centre.

17. Monica was able to continue offering assistance to Association members with reading letters, making GP / Hospital appointments, also assist takeaway owners on CookSafe enquiries and EHO visits.

 

THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
Financial review

For the year ended 30 June 2024 the charity generated a net deficit of £3,291 (2023 - £8,545 surplus). This consists of a restricted funds surplus of £13,377 (2023 - £24,488) and an unrestricted funds deficit of £16,668 (2023 - £15,943 deficit). As at 30 June 2024 the charity had negative funds of £40,146 (2023 - £23,478) carried forward within unrestricted funds and surplus funds of £44,000 (2023 - £30,623) to carry forward within restricted funds.

 

Restricted funds represent funds received for specific charitable activities. Total restricted funds at 30 June 2024 amounted to £44,000 (2023 - £30,623). Further information regarding restricted funds can be found in note 17.

 

Unrestricted funds represent funds to be used at the charity's discretion. No restrictions have been placed on these funds by the donors. Unrestricted funds are required to meet the charity's day to day commitments. Total unrestricted funds at 30 June 2024 amounted to £(40,146) (2023 - £(23,478)).

 

The Trustees are committed to an ongoing review of current activities and seeking to identify new opportunities to ensure that the charity has sufficient funds to allow it to continue to operate for the foreseeable future. Based on the above the Trustees are confident that the charity has sufficient funds to ensure that it can continue to operate as a going concern for a period of at least 12 months from the date of this report.

 

The reserves policy adopted by the Trustees is that the charity is self sufficient, ensuring that it generates enough income to cover its costs over each financial period. The Trustees do not wish to hold significant levels of reserves, their intention is to spend the income it earns in furthering its charitable activities. To ensure the charity has the appropriate funds to continue to operate, the charity aims to hold at least £3,000 towards support costs.

Structure, governance and management

SHIMCA is a charitable company limited by guarantee.

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:

W P Chan
W L Lai
M Lee-Macpherson MBE
A Wu
H T T Cui
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
Statement of trustees responsibilities

The trustees, who are also the directors of The Scottish Highlands & Islands and Moray Chinese Association (SHIMCA) for the purpose of company law, are responsible for preparing the Trustees Report 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees report was approved by the Board of Trustees.

M Lee-Macpherson MBE
Trustee
20 May 2025
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
- 5 -

I report on the financial statements of the charity for the year ended 30 June 2024, which are set out on pages 6 to 16.

Respective responsibilities of trustees and examiner

The charity trustees (who are also the directors of The Scottish Highlands & Islands and Moray Chinese Association (SHIMCA) 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 Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.The charity trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.

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.

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 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:

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.

Mark Sanderson Bsc(Hons), CA
MacKenzie Kerr Limited
Chartered Accountants
Redwood
19 Culduthel Road
Inverness
IV2 4AA
21 May 2025
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
2
8,101
-
8,101
7,115
-
7,115
Charitable activities
3
23,994
17,370
41,364
22,311
31,231
53,542
Other trading activities
4
6,231
-
6,231
7,781
-
7,781
Other income
5
7,254
-
7,254
2,306
-
2,306
Total income
45,580
17,370
62,950
39,513
31,231
70,744
Expenditure on:
Charitable activities
6
27,496
42,571
70,067
55,456
6,743
62,199
Total expenditure
27,496
42,571
70,067
55,456
6,743
62,199
Net income/(expenditure) and movement in funds
18,084
(25,201)
(7,117)
(15,943)
24,488
8,545
Reconciliation of funds:
Fund balances at 1 July 2023
(23,478)
30,623
7,145
(7,535)
6,135
(1,400)
Fund balances at 30 June 2024
(5,394)
5,422
28
(23,478)
30,623
7,145

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
3,200
5,710
Current assets
Stocks
13
1,193
1,000
Cash at bank and in hand
19,217
11,495
20,410
12,495
Creditors: amounts falling due within one year
14
(23,582)
(11,060)
Net current (liabilities)/assets
(3,172)
1,435
Total assets less current liabilities
28
7,145
The funds of the charity
Restricted income funds
15
5,422
30,623
Unrestricted funds
16
(5,394)
(23,478)
28
7,145

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 20 May 2025
M Lee-Macpherson MBE
Trustee
Company registration number SC537692
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
1
Accounting policies
Charity information

The Scottish Highlands & Islands and Moray Chinese Association (SHIMCA) is a private company limited by guarantee incorporated in Scotland. The registered office is 1 Ardconnel Terrace, Inverness, IV2 3AE.

1.1
Accounting convention

The financial statements have been prepared in accordance 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), 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 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.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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.

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity 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.

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies (Continued)
- 9 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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:

Fixtures and fittings
20% Straight Line

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 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).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
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.

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 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.

THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 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 charity’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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
6,735
6,155
Membership fees
1,366
960
8,101
7,115
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 11 -
3
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Charitable activities
Chinese New Year event
3,261
-
3,261
-
-
-
Tea Room income
11,603
-
11,603
13,165
-
13,165
Charitable grants received
-
17,370
17,370
-
31,231
31,231
Other events and outings
9,130
-
9,130
9,146
-
9,146
23,994
17,370
41,364
22,311
31,231
53,542
Charitable grants analysis
Charitable activities
Charitable activities
2024
2023
£
£
Highland Council Common Good Fund
-
8,775
Highland Council Cost of Living Support Fund
-
9,800
Co-op Community Fund
-
1,306
Bauer Radio MFR Cost of Living Fund
-
6,050
Bauer Radio MFR Cash for Kids Grant
7,550
5,300
National Lottery Community Funding
9,820
-
Other
-
-
17,370
31,231
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Hire of facilities
6,231
7,781
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 12 -
5
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
7,254
2,306
6
Expenditure on charitable activities
Charitable activities
Charitable activities
2024
2023
£
£
Direct costs
Tea room costs
5,527
7,172
Grants paid
7,550
5,300
Fundraising expenses
6,079
-
19,156
12,472
Share of support and governance costs (see note 7)
Support
47,266
47,892
Governance
3,645
1,835
70,067
62,199
Analysis by fund
Unrestricted funds
27,496
55,456
Restricted funds
42,571
6,743
70,067
62,199
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 13 -
7
Support costs allocated to activities
2024
2023
£
£
Depreciation
2,510
3,463
Project workers
10,095
15,080
Amenities
12,342
10,392
Repairs and maintenance
2,649
2,253
Other expenses
19,670
16,704
Governance costs
3,645
1,835
50,911
49,727
Analysed between:
Charitable activities
50,911
49,727
8
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
3,395
1,835
Depreciation of owned tangible fixed assets
2,510
3,463
9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10
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.
11
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 14 -
12
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 July 2023
20,082
At 30 June 2024
20,082
Depreciation and impairment
At 1 July 2023
14,372
Depreciation charged in the year
2,510
At 30 June 2024
16,882
Carrying amount
At 30 June 2024
3,200
At 30 June 2023
5,710
13
Stocks
2024
2023
£
£
Raw materials and consumables
1,193
1,000
14
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
17,222
5,960
Accruals and deferred income
6,360
5,100
23,582
11,060
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 15 -
15
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 July 2023
Incoming resources
Resources expended
At 30 June 2024
£
£
£
£
The Energy Saving Grant
366
-
(366)
-
Scottish Southern Electricity Solar Grant
4,326
-
(1,443)
2,883
Highland Council
18,575
-
(18,575)
-
Co-op Community Fund
1,306
-
(1,306)
-
Bauer Radio
6,050
7,550
(13,600)
-
National Lottery Community Funding
-
9,820
(7,281)
2,539
30,623
17,370
(42,571)
5,422
Previous year:
At 1 July 2022
Incoming resources
Resources expended
At 30 June 2023
£
£
£
£
The Energy Saving Grant
366
-
-
366
Scottish Southern Electricity Solar Grant
5,769
-
(1,443)
4,326
Highland Council
-
18,575
-
18,575
Co-op Community Fund
-
1,306
-
1,306
Bauer Radio
-
11,350
(5,300)
6,050
6,135
31,231
(6,743)
30,623
16
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 July 2023
Incoming resources
Resources expended
At 30 June 2024
£
£
£
£
General funds
(23,478)
45,580
(27,496)
(5,394)
Previous year:
At 1 July 2022
Incoming resources
Resources expended
At 30 June 2023
£
£
£
£
General funds
(7,535)
39,513
(55,456)
(23,478)
THE SCOTTISH HIGHLANDS & ISLANDS AND MORAY CHINESE ASSOCIATION (SHIMCA)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 16 -
17
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 30 June 2024:
Tangible assets
317
2,883
3,200
Current assets/(liabilities)
(5,711)
2,539
(3,172)
(5,394)
5,422
28
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 30 June 2023:
Tangible assets
(24,913)
30,623
5,710
Current assets/(liabilities)
1,435
-
1,435
(23,478)
30,623
7,145
18
Related party transactions

During the year the trustee, Monica Lee-Macpherson paid expenses on behalf of the charity a total of £11,262. At the balance sheet date the charity owed Monica Lee-Macpherson MBE £17,222 (2023 - £5,960). This amount is unsecured, interest free and will only be repaid when the charity has sufficient funds to do so.

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