Charity registration number SC051595 (Scotland)
Company registration number SC710786
CROSSDYKES COMMUNITY BENEFITS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
CROSSDYKES COMMUNITY BENEFITS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
P L Hands
N J Jennings
Dr C J Miles
F Wingfield
E McDonald
I McLatchie
B Young
Charity number (Scotland)
SC051595
Company number
SC710786
Registered office
26 High Street
Annan
Dumfries & Galloway
DG12 6AJ
Independent examiner
Jennifer McDairmant, FCA
26 High Street
Annan
Dumfries & Galloway
DG12 6AJ
CROSSDYKES COMMUNITY BENEFITS LIMITED
CONTENTS
Page
Trustees report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 13
CROSSDYKES COMMUNITY BENEFITS LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The Trustees present their annual report and financial statements for the year ended 30 September 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 governing document, 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 charity aims to support the development and regeneration of principally the community of Dumfriesshire East, which comprises Eskdalemuir, Langholm, Lockerbie, North Milk, Middlebie and Waterbeck, defined by the community council boundaries.

It does so through the receipt, administration, and distribution of community benefit funds, arising from Crossdykes Wind Farm, in accordance with the Crossdykes Wind Farm Community Benefit Agreement.

The charity has a range of charitable objects, which underpin its approach to its distribution of funds via grant-making processes. Any group in the area of benefit that meets the criteria is eligible to apply.

Achievements and performance
Significant activities and achievements against objectives

This is the charity’s third annual report and accounts, to be presented at the 2025 annual general meeting. Our primary income is provided by Octopus Energy Generation. During the year, we received £381,711 for onward distribution to local groups. We note our thanks to them for their support and commitment to our community.

During this, the charity’s second year of grant-making, we continued to support a Community Council Small Grants Scheme, whereby we make awards of up to £5,000 to each of the five community councils, and from which they can develop their own projects or make onward grants to groups within their communities. During the year, we distributed £14,215 to the community councils through this scheme.

We also continued to support an Education and Training Bursaries Scheme, whereby we make awards of up to £2,000 to each of the five community councils, from which they can make bursaries to local people to enable them to access training and education opportunities that better equip them with the range of skills they need to enter or retain employment. This year we distributed £3,000 to the community councils through this scheme.

CCBL made awards of £34,843 and £11,657.50 to Lockerbie Old School and Lockerbie Golf Club respectively in accordance with the community benefit agreement.

Between October 2023 and September 2024, CCBL awarded a further £100,406 through two open grant making rounds. Nine awards were made to local groups. All nine awards were between £2,000 and £30,000.

The largest grants, over £20,000 were awarded to: Lockerbie Ice Rink SCIO to support a feasibility study that will identify improvements to the community owned ice rink, thereby minimising energy usages and reducing operating costs; and to Langholm Playcare Ltd to help cover organisational core running costs and expenses to enable the nursery to remain financially sustainable in 2024.

Foundation Scotland, a national grant-making charity, continued to support our voluntary Board of directors and provide administration and grant-making services. We employ no staff.

A total of £24,957went towards CCBL support costs which included £20,686 to Foundation Scotland; and the remaining £4,271 for running costs of the company including accountant’s fees, insurances, and communication costs.

Financial review
CROSSDYKES COMMUNITY BENEFITS LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

Structure, governance and management

The charity is a 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:

J Andrews
(Resigned 21 November 2023)
P L Hands
N J Jennings
Dr C J Miles
F Wingfield
E McDonald
S Clement
(Resigned 2 January 2025)
I McLatchie
M Sanderson
(Resigned 2 January 2025)
B Young

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.

Induction and training of new trustees

New trustees undergo an appropriate induction programme to brief them on their obligations under charity and company law and the financial performance of the company. In addition, they receive induction into grant-making policies and processes, including management of any conflicts of interest that may arise.

Risk management

The Trustees have a duty to identify and review the risks to which the company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees r eport was approved by the Board of Trustees.

N J Jennings
Director
13 May 2025
CROSSDYKES COMMUNITY BENEFITS LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CROSSDYKES COMMUNITY BENEFITS LIMITED
- 3 -

I report on the financial statements of the charity for the year ended 30 September 2024, which are set out on pages 4 to 13.

Respective responsibilities of Trustees and examiner

The charity trustees (who are also the directors of Crossdykes Community Benefits Limited 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:

- 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.

Jennifer McDairmant, FCA
26 High Street
Annan
Dumfries & Galloway
DG12 6AJ
23 May 2025
CROSSDYKES COMMUNITY BENEFITS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
Restricted
Restricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
401,819
1,479,585
Investments
4
63,264
18,479
Total income
465,083
1,498,064
Expenditure on:
Charitable activities
5
287,898
314,847
Total expenditure
287,898
314,847
Net income and movement in funds
177,185
1,183,217
Reconciliation of funds:
Fund balances at 1 October 2023
1,375,692
192,475
Fund balances at 30 September 2024
1,552,877
1,375,692

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

CROSSDYKES COMMUNITY BENEFITS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
10
100
100
Current assets
Debtors
11
3,090
16,982
Cash at bank and in hand
1,550,749
1,362,071
1,553,839
1,379,053
Creditors: amounts falling due within one year
12
(1,062)
(3,461)
Net current assets
1,552,777
1,375,592
Total assets less current liabilities
1,552,877
1,375,692
The funds of the charity
Restricted income funds
13
1,552,877
1,375,692
1,552,877
1,375,692

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 September 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 13 May 2025
N J Jennings
Director
Company registration number SC710786 (Scotland)
CROSSDYKES COMMUNITY BENEFITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
1
Accounting policies
Charity information

Crossdykes Community Benefits Limited is a private company limited by guarantee incorporated in Scotland. The registered office is 26 High Street, Annan, Dumfries & Galloway, DG12 6AJ.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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.
CROSSDYKES COMMUNITY BENEFITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 7 -
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
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
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.

1.8
Financial instruments

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

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.

CROSSDYKES COMMUNITY BENEFITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 8 -
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 p aymen ts 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.

1.9
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
Critical accounting estimates and judgements

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.

3
Income from donations and legacies
Restricted
Restricted
funds
funds
2024
2023
£
£
Donations and gifts
401,819
1,479,585
CROSSDYKES COMMUNITY BENEFITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
4
Income from investments
Restricted
Restricted
funds
funds
2024
2023
£
£
Interest receivable
63,264
18,479
5
Expenditure on charitable activities
Expenditure
Expenditure
2024
2023
£
£
Direct costs
Software costs
-
43
Web hostings costs
266
143
Accountancy
960
960
FS Grant Admin
20,686
20,280
Insurance
629
557
Southern Uplands Admin
-
253
Bank Charges
116
42
Venue Hire
80
78
Flagstone Management Fees
2,221
677
Legal & Professional
-
40
Audit
-
2,400
24,958
25,473
Grant funding of activities (see note 6)
262,940
289,374
287,898
314,847
Analysis by fund
Restricted funds
287,898
314,847
CROSSDYKES COMMUNITY BENEFITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 10 -
6
Grants payable
Expenditure
Expenditure
2024
2023
£
£
Grants to institutions:
Lockerbie Golf Club
11,658
-
Lockerbie Old School
34,843
-
Foundation Scotland
216,440
289,374
Other
-
-
262,940
289,374
-
7
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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 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.

CROSSDYKES COMMUNITY BENEFITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 11 -
10
Fixed asset investments
Other investments
£
Cost or valuation
At 1 October 2023 & 30 September 2024
100
Carrying amount
At 30 September 2024
100
At 30 September 2023
100
2024
2023
Other investments comprise:
Notes
£
£
Investments in subsidiaries
17
100
100
11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,090
16,982
12
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
100
100
Accruals and deferred income
962
3,361
1,062
3,461
13
Restricted funds

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

At 1 October 2023
Incoming resources
Resources expended
At 30 September 2024
£
£
£
£
1,375,692
465,083
(287,898)
1,552,877
CROSSDYKES COMMUNITY BENEFITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
13
Restricted funds
(Continued)
- 12 -
Previous year:
At 1 October 2022
Incoming resources
Resources expended
At 30 September 2023
£
£
£
£
192,475
1,498,064
(314,847)
1,375,692
14
Analysis of net assets between funds
Restricted
funds
2024
£
At 30 September 2024:
Investments
100
Current assets/(liabilities)
1,552,777
1,552,877
Restricted
funds
2023
£
At 30 September 2023:
Investments
100
Current assets/(liabilities)
1,375,592
1,375,692
15
Financial commitments, guarantees and contingent liabilities

The Charity has potential future grant commitments of £141,252 (2023 - £568,905). The Trustees consider this to be normal budgeted expenditure.

16
Related party transactions

The following amounts were donated to Crossdykes Community Benefits Limited at the reporting end date: £381,711. These companies have directors in common.

CROSSDYKES COMMUNITY BENEFITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
17
Subsidiaries

Details of the charity's subsidiaries at 30 September 2024 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Crossdykes Community Services Limited
26 High Street, Annan, DG12 6AJ
Making and receiving grants
Ordinary
100.00
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