The trustees present their annual report and financial statements for the year ended 31 December 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 charitable company'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).
Policies and objectives
The purpose of the charitable company are:
To promote, maintain, improve and advance the children, young people and adults, the health of the residents in the area which the charitable company operates and the improvement of the opportunities for educationally, socially and rurally disadvantaged by all appropriate means and particularly by encouragement of the Arts including the arts of drama, dance, music, singing, literature and visual arts and encourage public participation in sport (and sport means sport which involves physical skill and exertion) thereby improve the conditions of life and the community spirit of the inhabitants of the area.
We endeavour to ensure the communities that we serve can and do have access to our activity and neither financial hardship or rural exclusion would prevent them from taking part we are also keen to use our activities to support people through difficult periods in line and use them as tools to develop positive pathways they can follow.
Strategies and achieving objectives
The strategies employed to achieve the charitable company's aims and objectives are to:
Run regular and weekly classes in dance and sport in areas that we would consider to be supporting communities who may suffer from deprivation or rural isolation.
To further support young people's participation to work towards yearly shows or events that allows them to grow and set goals.
Within these structures provide opportunities for volunteering from young people using accreditation models such as Saltire Volunteer Awards or Duke Of Edinburgh Awards.
Provide, where we can, facilities that allow us to grow our activities without restriction and afford sustainability this would be the examples of our newer sports and arts facility in Dundee.
Work with partners such as school, local authorities, and third sector partners to use sport and the arts to improve areas of a young person's life such as education, employment skills, and behavioral challenges.
To involve young people and communities in the decisions we make and how we make them, and why, and ensure we don't duplicate but rather enhance experiences.
Activities for achieving objectives
To ensure we can put these strategies into action our work follows three main streams, these being community classes and shows, educational programmes and growth around our own premises and buildings.
Review of activities
2024 was another varied and exciting year for Showcase the Street with dance, tech, sport and fashion and design amongst the forefront of our delivery.
Within the tech hub we have seen an expansion of our work with schools including Morgan Academy, Braeview Academy, St Johns High School, Dens Road Primary, Kingspark and our continuing partnership with Clepington Primary School.
2024 also saw the development of a new project in partnership with Dundee Stroke Exercise Club where an innovative approach was used to work with recovering stroke patients. This continues to grow, and we hope to sustain the project for several years. The work of the tech hub and wider benefits of Showcase the Street were rewarded at the Social Enterprise Scotland Awards held at Scottish Government where Showcase won the Tech for Good award. The award also allowed Showcase to be represented at the UK National Awards where they were shortlisted for a similar award down in London.
Dance continues to be one of our main services with classes running in Dundee, Fowlis, Tayport and Inchture. There are now approximately 550 dancers and again this cultivated in another hugely successful dance show at the Whitehall Theatre in Dundee attended by approximately 1500 people over 2 shows. Our dance has also seen the emergence of 3 dance companies who dance and compete at events across the country. There are 46 young people who take part age from 7 to 18 and they are drawn across our dance classes. Many of the young people have recorded fantastic results with some winning team events as well as solos and duos.
Fashion and Design continues to grow and has seen some excellent projects working with disengaged and vulnerable young people across the city and using our Glam Hub based in the Dundee building. Work has also been ongoing with young Mums to teach sustainable fashion and there have also been community classes for them and young adults.
On the sports side, our premises continue to be used by community groups such as Dundee United Community Trust, and we have also been used as a location to support migrants who are settling in the area. A new project for 2024 saw us employ as part time sports coach who works with vulnerable youngsters in primary school settings. The project has been welcomed by schools and active schools who value the work highly.
We were also successful in gaining funding from nourish the nation which supported young people to access sport during the summer holidays and gain a healthy meal with all the activity being held at Showcase the Street’s building. In all, 240 children aged 5-12 years accessed the project.
Showcase also hosted projects supported by the Mental Health Fund including Mummy and Baby dance fitness classes which were run by our Dance Supervisor and a Social Stitch project which ran from the Glam Hub.
We also continued to look at growing our own revenue streams which included children’s parties in our Tech Hub, Football pitches and Glam Hub. Our football pitches continue to be well used by several local teams and The Stevie Campbell Football Academy which in the true spirit of Showcase has offered free places to Ukrainian and Syrian refugees. It is also important to note that many of the community groups that use our studios and meeting rooms also provide community benefit, including Stand Easy which is a Veteran’s project and Barnardo’s who work with vulnerable children.
We also received Youth Diversionary Funding. We partnered with two local charities, ADHD Dundee and Angus and Kanzan Karate to provide weekly activity within our Tech Hub.
So, moving forward into 2025, Showcase celebrate their 20th anniversary as well as being in our current facility for 11 years. We are basing our dance show on the 20th anniversary theme and are planning a Charity Ball. However, being in our premises for so long also comes with additional costs including rising utility costs and the need for a new dance floor in Studio 1.
On behalf of the Trustees, I’d like to thank our hardworking staff, our many funders and supporters and the young people and communities who continue to take part in our work. 2025 will continue to be a challenge in relation to funding and continuing to grow Showcase but I see no reason why we can’t meet this, and the Charity continues to benefit the thousands of people who we work with every year.
Review of financial position
At the year end the charity holds £59,995 (2023 - £104,155) in reserves, of which £4,030 is unrestricted and of this free reserves not invested in fixed assets or designated amount to a deficit of £58,011 (2023 - deficit of £47,990). No amounts have been designated.
The Trustees regularly monitor the level of unrestricted funds as these are vital in allowing flexibility in our work.
Going concern
The trustees understand that the level of unrestricted reserves is currently low sitting at £4,030. As a result, we have reviewed the charity's financial position, future plans, and available resources, and we are satisfied that the charity has adequate resources to continue operating for at least the next 12 months. We have taken active measures to increase unrestricted reserves, including an increase in fees for classes and sought additional grant funding. We are also reviewing our expenditure to consider ways of reducing these costs. Accordingly, we believe it remains appropriate to prepare the financial statements on a going concern basis.
Reserves policy
Reserves are held to bridge the gap between the spending and receiving of free income and to cover unplanned emergency repairs and other expenditure. The Trustees' ideal level of free reserves at 31 December 2024 would be £10,000 (2023 - £10,000). The current level of unrestricted reserves does not meet this.
Risk management
Showcase the Street have regular reviews within Trustees' meetings and through the role of Trustees as to the principal risks associated with the charitable company and the uncertainties of future plans where relevant.
We regularly review the factors that are likely to affect future financial performance and are proactive in order to ensure that these factors are overcome and future financial performance is maintained, if not improved.
Financially, the main risk identified is the potential loss of grant funding. to mitigate this risk, Showcase the Street are in regular communications with grant providers as well as looking for potential new funding opportunities.
We have secured long term sub-lets through groups such as Street Leagues, Shaper Caper and Togs for Tots which has has helped considerably towards our general revenue costs.
Operationally, the main risk identified is the potential reputational damage which would be incurred if those working for Showcase the Street were found not to have had the required PVG checks in place. To mitigate this, PVG checks are carried out for all members of staff who work with the children, as well as any helpers who support the activities of the charitable company.
Looking ahead, we remain committed to expanding our impact across all areas of our work. Building on the success of our Glam Hub, we are keen to progress with further fashion and design projects that create meaningful opportunities for young people to develop creative skills, grow in confidence, and explore potential career pathways within the sector. We are also continuing to extend our dance provision into new and more remote areas, targeting communities where access to dance activities is currently limited, ensuring that geography and circumstance are not barriers to participation.
Our Tech Hub continues to evolve in response to the needs and interests of young people. We have secured funding to introduce a high-quality sports simulator, bridging the gap between sport and technology, and an interactive digital graffiti wall, which will support diversionary projects and creative engagement within our local community. These developments reflect our ongoing commitment to innovation, inclusion, and providing accessible opportunities that support learning, wellbeing, and future pathways for everyone we work with.
Constitution
Showcase the Street is a company limited by guarantee governed by is Memorandum and Articles of Association dated 26 July 2005. It is registered as a charity and company in Scotland (charity number SC035025). Anyone over the age of 16 who supports the aims of the charitable company can become a member, there are currently four members each of whom agrees to pay £1 in the event of the charitable company winding up. There is no subscription fee to become a member.
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:
Method of appointment or election of Trustees
As set out in the Articles of Association, appointment of Trustees is carried out at the annual AGM and minimum of three Trustees must exist to allow the charity to function. Office bearers to include a Chair and a Vice Chair must be appointed each year within these Trustees.
Policies adopted for the induction and training of Trustees
Any new Trustees will undergo a training and orientation day to brief them about legal obligations under charity and company law, and inform them of the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. During induction they will meet key staff and other Trustees. Where relevant and appropriate Trustees are encouraged to attend local and national training events as well as being sent regular briefs by e-mail on updates and changes in practices and or legislation that may affect the charity as well as wider information bulletins on our areas of work. We also encourage Trustees to attend regular staff meetings and visit projects in other areas again where their own time allows.
Key management personnel
The Trustees consider the board of Trustees to be the key management personnel of the charitable company.
Organisational structure and decision making
The Board of Trustees administers the charitable company, they meet normally on a four monthly to quarterly basis. At present Showcase the Street has a senior manager who has delegated authority in areas such as staffing and practice as well as certain budgets where relevant.
In accordance with the company's articles, a resolution proposing that Findlays Audit Limited be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Showcase the Street 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 charitable company 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 charitable company 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 charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Opinion
We have audited the financial statements of Showcase the Street (the ‘charitable company’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:
proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material miss-statements in respect of irregularities, including fraud and non-compliance with laws and regulations is detailed below.
The audit team has appropriate skills and expertise required and through discussions with management and trustees and knowledge of the sector to ensure any non-compliance is recognised and all necessary disclosures are made. The controls in place help the charity mitigate the risk of fraud and also aids them in highlighting any instances of fraud that might have occurred.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. |
Making enquiries of management about any known or suspected instances of non compliance with laws and regulations, including GDPR,Health and Safety, employment law and fraud
Review of correspondence with regulators including OSCR, Companies house and legal advisors
Review of legal fees expenditure and Board minutes
Challenging assumptions and judgements made by management in their significant accounting estimates including fixed asset depreciation, bad debt provisions and allocation of overheads
Auditing the risk of management override controls, including through testing of journal entries and other adjustments for appropriateness
Because of the field in which the charity operates in, we identified the following areas as those most likely to have a material impact on the financial statements:
Direct impact on financial statements:
Companies Act 2006
FRS 102
SORP 2019
T & Cs stipulated in grant funding
Indirect impact on financial statements:
Employments laws
Heath & Safety
GDPR
Charities Constitution
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Findlays Audit Limited is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 15 to 34 form part of these financial statements.
The notes on pages 15 to 34 form part of these financial statements.
The notes on pages 15 to 34 form part of these financial statements.
Showcase the Street is a private company limited by guarantee incorporated in Scotland. The registered office is Unit 6, Manhattan Works, Dundonald Street, Dundee, DD3 7PY.
The financial statements have been prepared in accordance with the charitable company'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 charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. 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 charitable company 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.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company 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.
Grants and other income received towards capital expenditure are credited to the statement of financial activities in the year to which they relate.
Government and other grants towards revenue expenditure are credited to revenue in the year to which they relate.
Sublet income is recognised once the charitable company has entitlement to the income.
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.
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 charitable company 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).
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.
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 charitable company 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 charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include 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.
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.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Concessionary loans
Concessionary loans are initially recognised and measured at the amount received, with the carrying amount adjusted in subsequent years to reflect repayments and adjusted if necessary, for any impairments. The loan from The Energy Savings Trust Limited constitutes a concessionary loan.
In the application of the charitable company’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.
Tangible fixed assets are depreciated over a period to reflect their estimated useful lives. The applicability of the assumed lives is reviewed annually, taking into account factors such as physical condition, maintenance and obsolescence.
Fixed assets are also assessed as to whether there are indictors of impairment. This assessment involves consideration of the economic viability of the purpose for which the asset is used.
Wages are allocated across projects both on a direct basis and a percentage basis, Where salaries are funded, the allocation of wages is direct. For employees involved in more than one project, the trustees allocate salaries on a percentage basis.
Grants
The Trustees consider the board of Trustees to be the key management personnel of the charity, in charge of directing, controlling and overseeing the direction of the charity.
No trustee received any remuneration or other benefits from the charity during the financial year (2023 - 1 trustee received £1,750 honorarium).
During the year, expenses totalling £955 (2023 - £2,511) was reimbursed to 1 trustee (2024 - 1 trustee).
There have been no other transactions with trustees during the year, expect for those detailed in Note 26 of these financial statements.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
A bounce back loan was received in the year to 31 December 2020 amounting to £50,000. It has an outstanding balance at 31 December 2024 of £14.998 (2023 - £24,998) which is repaid in monthly instalments of £833.33 and carries a fixed interest rate of 2.5% per annum.
Jessica Scotland Trust loan has an outstanding balance at 31 December 2024 of £9,751 (2023 - £18,890) which is repaid in monthly instalments of £736 and carries an annual fixed interest rate of 6.5%.
A loan was received in the year to 31 December 2018 from the Energy Saving Trust Limited amounting to £9,181. It has an outstanding balance at 31 December 2024 of £2,090 (2023 - £43,230) which is repaid in monthly instalments of £95 and carries no interest.
The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.
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.
Purpose of restricted funds
Capital funds - various grants awarded to support capital expenditure
Barclays Community Football Fund - Awarded in partnership with Sported to assist towards the cost of salaries
DVVA Community Mental Health & Wellbeing Fund 2023 - To cover costs of a mother and baby dance group
The Leng Charitable Trust - awarded to contribute towards Stroke Patients project
SCVO Community Learning & Development Device Fund - To fund a Digital Project which aims to support people gain computer skills to aid in job searches
Tackling Inequalities Fund, administered by Foundation Scotland - To cover salary costs of a Development Officer for 3 years
FS Small Grants, administered by Foundation Scotland - To purchase equipment for the Glam Hub
NHS Tayside Charitable Trust - awarded to contribute towards Stroke Patients project
Dundee's Festive Fund Grant Scheme - to help buy Christmas decorations
DVVA Community Mental Health & Wellbeing Fund 2024 - To cover the costs of the Social Stitch project
Angus Council - To cover the cost of Levelling Up
Angus Council UKSPF - To cover the cost of a feasibility study for a community centre in Arbroath
Nourish The Nation Food and Activity Programme, administered by Foundation Scotland - To contribute towards the costs of providing free access to holiday food and activity schemed for children experiencing food poverty during the 6 weeks of school summer holidays
The Mathew Trust - £7,500 awarded to contribute towards the salary costs of a Course Co-Ordinator. £13,000 awarded to contribute towards the cost of Employability Through Fashion Skills.
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 charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
At the reporting end date the charitable company had contracted with sub-let tenants for the following minimum lease payments:
During the year the charitable company entered into the following transactions with related parties:
Name: Community Warehouse Limited (SC475448)
Nature of relationship: Fergus Storrier, a charity trustee, is also a director of the above named company.
The transaction: During the year, the charity paid the above named company a total of £31,400 (2023 - £42,000) for consultancy services provided.
Name: Fergus Storrier
Nature of relationship: Trustee
The transaction: During the year, the charity received payments totalling £9,000 towards an outstanding loan balance that was advanced to Fergus in the prior year. The loan has been fully paid in the year, in line with the conditions set out by the Board.
Name: Baby Sensory
Nature of relationship: Claire Puzey, a charity trustee, runs this business within the charity's premises.
The transaction: During the year, the charity received a total of £4,715 (2023 - £6,395) for studio hire. Claire resigned as a trustee 24 September 2024.
Name: Kanzen Karate
Nature of relationship: Roy O'Kane, a charity trustee, is also a director of the above named charitable company.
The transaction: During the year, the charity paid paid for services totalling £5,175 (2023 - £8,930) to Kanzen Karate to support young peoples activities. The charity received a total of £150 (2023 - £Nil) in respect of studio hire at Manhattan Works.
Name: Dundee Social Enterprise Network (DSEN)
Nature of relationship: 4 common directors; Fergus Storrier, Claire Puzey, and Roy O'Kane, Alison Zerouk
The transaction: During the year, the charity paid DSEN £150 (2023 - £150) for a table at an awards ceremony hosted by DSEN.