| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 14 |
| Elphin, Ledmore & Knockan Community |
| Association Limited (Registered number: SC381507) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| To acquire the old Assynt Primary School and its associated land in Elphin and to convert and operate it as a community centre for the use of full and part-time residents of the townships of Elphin, Kockan, Ledmore, Lyne and Benmore and their neighbourhood in the Highland Council area of Scotland without distinction of age, race, or sex, or political, religious or other opinions, including: |
| i) Use for the social welfare if the local community and meetings, lectures, exhibitions, classes and other forms of recreation and leisure time occupation and arts and literature; |
| ii) encourage training and advancement of education; |
| iii) the promotion of agriculture, fishing, industry, tourism and commerce among the local community; |
| iv) encourage the study, understanding and exposition of the Assynt region's history, culture, natural history, geology and geography; |
| v) use as a polling station; |
| vi) any other purpose that may reasonably be regarded as analogous to any of the preceding purposes. |
| Elphin, Ledmore & Knockan Community |
| Association Limited (Registered number: SC381507) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| Here are the activities of ELKCAL and the hall for 2024 |
| We had our spring Curry night in March with some great dishes and a very sociable evening. |
| ELKCAL's summer events kicked off with the Summer Fete which was a great day with lots of activities to get everyone going. The activities were entertaining to the locals, visitors and participants alike. |
| The Craft and Food Markets started up again in April on a weekly basis and most weeks had a full uptake of tables. All in all, it was a good year for the stall holders and as such extended well into October again. The 2-day Elphin Winter Festive Fayre was well attended by vendors and patrons. |
| The craft group made good use of the hall through out the year. |
| We had our first car boot sale on the 5th May and then monthly until September. This helped ELKCAL funds and allowed people to sell their unused and surplus bits and pieces |
| We had a day of general maintenance with painting and other small repairs. We removed the partition in the hall to turn the old storeroom into a more usable space. |
| Looking ahead to more major improvements and repairs we still need better heating and the roof continues to have minor leaks and general damp |
| Even after we have to reschedule Chicken Day due to bad weather, it turned out another great day with a small number of actual chickens! Due to various commitments we were a few helpers short on the day, but with the usual ELKCAL commitment we winged it, just! Even so we had a great turn out of people with plenty of entries for the competitions and a fun day. |
| We have purchased a digital projector to use for entertainment evenings through the winter and will be available to group as training aid, etc. |
| We had a change to the traditional Christmas Dinner at the start of December with a quiz/games night instead of the usual formal sit-down meal. |
| We made good progress in our efforts to purchase the hall and grounds under the Community Asset Transfer by having it approved by the council. But with the estate up for sale and the necessary legal processes it will still be a while until completed |
| On behalf of the board, I would like to thank you all for you continued support, and look forward to the year ahead |
| Andy Venters |
| (Chair of ELKCAL) |
| FINANCIAL REVIEW |
| Financial position |
| The result for the year is shown in the attached financial statements. As can be seen on page 6 of the accounts, a net income of £684 has been made in the year (£369- 2024). |
| Elphin, Ledmore & Knockan Community |
| Association Limited (Registered number: SC381507) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| FUTURE PLANS |
| Alongside our current activities, new actives planned for the coming year include: |
| ECHO - Elphin Community History Organisation - monthly meeting of local people, during off season, who are researching and collecting history of families and buildings in Elphin and Knockan. |
| Regional Spinners Group - monthly meeting of people, during off season, from Scourie to Ullapool who want to learn or share skills. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Recruitment and appointment of the committee of directors |
| The directors of the company are known as the Committee of Directors and under the requirements of the Memorandum and Articles of Association should serve for a period of three years. There must be a minimum of 6 and a maximum of 12 members and with up to 9 elected by members. Up to 3 members may be co-opted. |
| Director induction and training |
| New members are provided with a copy of the Constitution, the Memorandum and Articles of Association, the policy documents and the current business plan for Elphin, Ledmore and Knockan Community Association Limited (ELKCAL) and the role of OSCR. All directors are encouraged to attend appropriate external training to enhance their knowledge of their role and responsibilities. |
| Risk management |
| Board members, staff and volunteers undertake screening by Disclosure Scotland as required and a contingency fund is maintained. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Elphin, Ledmore & Knockan Community |
| Association Limited (Registered number: SC381507) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Mackay & Co CA |
| 3 Fodderty Way |
| Dingwall |
| Ross-shire |
| IV15 9XB |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| I report on the accounts for the year ended 31 December 2024 set out on pages six to fourteen. |
| Respective responsibilities of trustees and examiner |
| The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention : |
| (1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
| - | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
| - | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
| have not been met; or |
| (2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
| Ricky Finlayson CA |
| The Institute of Chartered Accountants of Scotland |
| Mackay & Co CA |
| 3 Fodderty Way |
| Dingwall |
| Ross-shire |
| IV15 9XB |
| Date: ............................................. |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Statement of Financial Activities |
| for the Year Ended 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Investment income | 2 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 26,651 |
| Elphin, Ledmore & Knockan Community |
| Association Limited (Registered number: SC381507) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 8 |
| Unrestricted funds | 26,046 |
| Restricted funds | 605 |
| TOTAL FUNDS | 26,651 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| Elphin, Ledmore & Knockan Community |
| Association Limited (Registered number: SC381507) |
| Balance Sheet - continued |
| 31 December 2024 |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| Expenditure |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Fixtures and fittings | - |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | INVESTMENT INCOME |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Bank and amazon interest |
| 3. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Depreciation - owned assets |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 25,677 | 605 |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| TOTAL FUNDS CARRIED FORWARD |
26,046 |
605 |
26,651 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Accrued expenses |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 8. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.1.24 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 26,046 | 684 | 26,730 |
| Restricted funds |
| Defibrillator | 535 | - | 535 |
| Toddler Group | 70 | - | 70 |
| - |
| TOTAL FUNDS | 684 | 27,335 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 7,374 | (6,690 | ) | 684 |
| TOTAL FUNDS | ( |
) | 684 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 25,677 | 369 | 26,046 |
| Restricted funds |
| Defibrillator | 535 | - | 535 |
| Toddler Group | 70 | - | 70 |
| 605 | - | 605 |
| TOTAL FUNDS | 26,282 | 369 | 26,651 |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 8. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 8,079 | (7,710 | ) | 369 |
| TOTAL FUNDS | 8,079 | (7,710 | ) | 369 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 25,677 | 1,053 | 26,730 |
| Restricted funds |
| Defibrillator | 535 | - | 535 |
| Toddler Group | 70 | - | 70 |
| 605 | - | 605 |
| TOTAL FUNDS | 26,282 | 1,053 | 27,335 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 15,453 | (14,400 | ) | 1,053 |
| TOTAL FUNDS | 15,453 | (14,400 | ) | 1,053 |
| Elphin, Ledmore & Knockan Community |
| Association Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 9. | RELATED PARTY DISCLOSURES |