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 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)".
Aims
Stoneywood Community Projects (SCP) is a non-profit company located in Denny. SCP's objective is to help individuals with learning disabilities gain the self-awareness and competence required for long-term meaningful employment. SCP works with community groups and local authorities to support individuals develop employable skills and become self-sufficient.
SCP emerged as a result of disadvantaged groups' lack of employment, educational and community participation opportunities. SCP believes that "community social care services should be more involved within the communities that it serves." It is critical for SCP to collaborate with established organisations in order to enhance services available for the community.
The project's goal is to develop a societal garden where the entire community may gather, as well as a meeting and workshop space for local organisations and individuals. Services will be offered to assist adults with disabilities develop their skills.
The collaboration of the project with local environmental organisations will link outdoor environmental projects for the community. SCP will be able to connect with a wider demographic trough working collaboratively with local schools, community organisations, and Dunipace Juniors Football Club.
The development of SCP aims to provide the high-quality space required for meaningful and beneficial community connections and activity, expanding on the success of its work experience programme by centralising activities and opportunities in one location that is accessible to all.
Objectives
Locals will be able to meet together in an environment that is perfect for them. Community Space will help to create and sustain more local job possibilities. More families will be able to come together in a safe setting ideal for babies and small children. Local community groups will have access to affordable meeting and training spaces, as well as space to incubate socially responsible business ideas that will benefit society, the economy, and the leisure programmes. Local schoolchildren will have access to a specially designed communal garden space where they can work on developing growing education projects.
To provide health and fitness activities, the project will collaborate with Dunipace Juniors Football Club; promoting physical and mental wellness with partners through sports. More disabled individuals and community people will learn daily living skills that will allow them to live independently and integrate into the community. More youths, including those with disabilities, will have access to training and career paths in order to develop the skills necessary for long-term paid work. Regular events, such as fayres, shows and plant sales, will take place at the Community Garden location. Local residents can volunteer in an array of key positions in the Community Garden Area (Dunipace Juniors FC).
Community Garden will create opportunities for training, as well as working with local school children to grow vegetables and plants to sell locally or use in the Café to promote sustainability.
Provision of an educational facility that provides training and skill development to everyone in the community, including adults with disabilities, in order to improve their chances of gaining real-life work experience through various schemes.
Significant activities
SCP provide a unique service to local care groups and agencies such as Alzheimer's Scotland, Carers Group, hospital discharge patients, individuals with long term complex health conditions and the ageing population. This donation-based service undertakes garden tidy ups, house clearances and house moves, painting & decorating, landscaping and basic joinery work whilst providing people living with a disability opportunity to gain real life work skills.
Provision of a unique support service for adults with a disability to attend ensures they have access to structured and meaningful activity. People get the support they require for education and employment.
Provision of grass cutting services to vulnerable people in the local community, including the elderly and infirm, to offset the reduction in service previously provided by local authorities.
Working in partnership with local football clubs to maintain their grounds and surrounding areas. People have access to health and wellbeing activities through coach-led football training sessions, organised football games.
Established walking groups for people who access SCP, and others, to maintain and improve their health and wellbeing.
Providing a service with partners to redevelop community areas that may harm people and wildlife, planting of pollination-supporting tree and wildflower meadows to promote sustainability and the environment.
Provision of a service to maintain the local communities' image through regular litter picks.
To address abandoned property and conserve heritage/built environment for productive use.
Locals are empowered to improve and maximise assets.
Disadvantaged group inclusion.
Service provision to provide and support sustainable employment and welfare reduction.
Donation based service carrying out repairs, garden tidy ups, grass cutting, basic landscaping & decorating.
Local sponsor for Dunipace Juniors and provision of equipment for Dunipace Juniors Youth/Grassroots teams.
Sponsorship for young female who plays with Falkirk Football Club youth – Falkirk Foundation.
Monetary donations given to disadvantaged people, or vulnerable groups, to support start-up costs in their new home. Services offered to ensure their home is habitable.
Provision of a gym, enabling people who live locally to access health and wellbeing facilities that are accessible and affordable.
Engagement with local partners to promote sustainability & preserve the environment.
The charity had incoming resources of £239,865 and total resources expended amounting to £216,947 resulting in a surplus of £22,918 for the year.
At the year end the charity had unrestricted reserves of £134,999.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details are given in the accounting policy 1.2.
Reserves Policy
The charity has general reserves of £134,999 (2023: £112,082) at the financial year end. The charity aims to hold a minimum of £30,000 in reserves, approximately 10% of the 4-weekly income, generated by supported people accessing the charities facility, will be transferred into a separate bank account monthly. The reserve fund will be accessed to fund any charitable donations and any unforeseen emergencies or unexpected costs. In addition, a percentage of this funds will be used to contribute towards any developments that are mainly funded by grants to preserve the funds in the current account.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Risk | Impact | Probability | Existing Controls | Action Required | Lead Responsibility |
Failure to secure capital funding | High | Low | Strong relationship being built with funders
Strong business plan and good research into a variety of funders during the research phase | Built relationship with larger diverse funders
Consider alternative models such as crowdfunding or even community shares | SCP Board
Manager |
Failure to secure revenue funding | Medium | Low | Strong relationship with range of funders
Focus on enterprise and income generation Existing track records shows SCP can deliver | Consider back up funders
Increase trading | Manager |
Demand lower than expected after building new facilities | High | Low | Research indicates demand to be met | Employ Manager to develop trading and marketing | Manager |
Loss of key personnel, volunteers and Board Members | High | Medium | Commitment of SCP Board, SCP Manager and support from enthusiastic volunteers | Good terms and conditions for future staff
Board recruitment to strengthen and bring in new skills Succession Plan to be developed | Board |
Costs higher than expected | Medium | Medium | Cash flow projection and business plan
Support and ongoing links with design team | Review costs for saving
Increase rental charges to cover costs Increase usage to spread costs wider Fundraising | Board |
The project aims to relocate to outdoor community space in 2026/27 and the local community can access. The project will work with several local partners including environmental groups linking outdoors environmental projects aimed at residents. The following material, systems and schemes will be used and promoted through the project to promote sustainability and the road to NET ZERO for the wider community. All other charitable activities will continue.
Road to net zero
Renewable Energy - Ground Source Heat Pumps & Solar Panelling
Composting & worm farms
Use of natural underground water and rainwater collections systems
Eco toilet facilities
LED lighting
Bio friendly polytunnels
Recycling
Recycled lumber use
Cycle to work schemes
Switch to EVs
Fleet driving efficiency systems
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.
Trustees
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:
Induction and training of new trustees
Any new trustee will receive guidance, counselling, training, tuition, knowledge and support from the current trustees.
The current trustees will plan, organise, promote and carry out any training courses, exhibitions, lectures, seminars, conferences, events, and workshops deemed essential for any new trustees to ensure proper conduct while carrying out company activities.
Related parties
Stoneywood Care Services Ltd sponsored Stoneywood Community Projects CIC in 2014 to operate by supplying administrative services such as Financial Management, Operational Management and Human Resource Management. Additionally, Stoneywood Care Services provided office space and equipment to be used by Stoneywood Community Project Team for the day to day running of the services. Stoneywood Care Services management team supported the Community Project manager to build a client base from social work to grow the project to become an established service providing opportunities for vulnerable adults. Stoneywood Community Project converted to a charity in 2020 and was able to operate financially independently. Stoneywood Care Services continue to offer support to Stoneywood Community Project in relation to financial management, operational management, Human Resource Management and business management.
The trustees, who are also the directors of Stoneywood Community Project 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).
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 30 September 2024, which are set out on pages 7 to 16.
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 continuing activities.
Stoneywood Community Project is a private company limited by guarantee incorporated in Scotland. The registered office is 40 Glasgow Road, Denny, FK6 5DJ, Scotland.
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 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.
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.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Donations and similar income are included in the year in which they are receivable, which is when the charity becomes entitled to the resource and receipt is probable.
Income from charitable activities includes income from activities or where entitlement is subject to specific performance conditions is recognised as earned (as the related service is provided).
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the Statement of Financial Activities, the charity is not registered for VAT and accordingly expenditure is shown gross.
Costs of raising funds are costs incurred in attracting voluntary income, and those incurred in activities that raise funds.
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.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
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:
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).
Work in progress is valued at the lower of cost and net realisable value.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
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 only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
Other expenditure includes a write off of the balances due from Stoneywood Care Services for transactions in the prior years.
The average monthly number of employees during the year was:
The charity considers its key management personnel to consist of the trustees. The total remuneration (including employer pension contributions) of key management personnel was £62,038.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
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 the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
There were no disclosable related party transactions during the year (2023 - none).