Findhorn Village Centre - Charities report

REGISTERED COMPANY NUMBER: SC204375 (Scotland)

REGISTERED CHARITY NUMBER: SC029923

TRUSTEES' REPORT AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

FINDHORN VILLAGE CENTRE

Page

Reference and Administrative Details

1

Trustees' Report

2

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

12

TRUSTEES

Mrs S Horn

Ms C M Hunt (MBE) - Chairperson

Mr G Hunt

Mr S Russell

Mr B Parsons

Mrs C Low

REGISTERED OFFICE

The Old School House

Church Place

Findhorn

IV36 3YR

REGISTERED COMPANY
NUMBER

SC204375 (Scotland)

REGISTERED CHARITY
NUMBER

SC029923

INDEPENDENT EXAMINER

Goldwells

Wards House

Wards Road

Elgin

Moray

IV30 1NL

The trustees present their report and financial statements for the year ended 31 December 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's current statutory requirements, 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)" (as amended for the accounting periods commencing from 1 January 2016)

OBJECTIVES AND ACTIVITIES

Objectives and activities

The charity provides facilities to the general public for the enhancement of educational activities, social welfare, recreation and other leisure time activities, in an effort to improve the conditions of life for the inhabitants of Findhorn and the surrounding area.

The objective of the company is to provide low cost residential accommodation to educational establishments and visitors the area. The income generated from this activity unpins the community social activities that include, a lunch club, coffee morning, parent and toddler play sessions.

The charity is dependent on the support of volunteers who provide in excess of 2,000 hours unpaid services during the year to 31 December 2024.

FINANCIAL REVIEW

Financial position

The charity generated income totalling £70,957 during the year, including of £50,318 of hostel income and £18,119 of income generated from Muirton House. Total expenditure for the year was £96,016 resulting in a deficit of £25,059.

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.

This level of reserves has been maintained throughout the year. At the year end unrestricted funds stood at £131,823. The charity has previously received grants towards the purchase and renovation of Muirton House. Expenditure funded by these is treated as designated funds in the accounts and is reduced as the property is depreciated. These funds represent fixed assets and are not available for general charity expenditure. Designated funds at the year end stood at £371,159.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The company is a recognised charity, number SC029923. It is a company limited by guarantee, not having a share capital and is governed by the rules set out in its Memorandum and Articles of Association.

The trustees, who are also the directors for the purpose of company law and who served during the year were;

Mrs Susan Horn

Ms C M Hunt (MBE) - chairperson

Mr Gary Hunt

Mr Samuel Russell

Mr Bryan Parsons

Mrs Catherine Low

New trustees are appointed at the annual general meeting or may be appointed by the existing trustee during the year. All trustees retire from office at the annual general meeting but are immediately eligible for re-appointment.

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.

The management committee, which comprises the trustees and the treasurer, meet at least quarterly and are responsible for the strategic direction and policy of the charity. The committee Chairperson is Christine Hunt. At present the committee have six members from a variety of professional background which are all relevant to the charity.

The day to day responsibility for running the charity rests with the salaried Centre Administrator whose line manager is C Hunt, the trustee responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Centre Administrator is also responsible for the supervision of staff and freelance workers and, together with the line manager, ensures that the team continue to develop their skills and working practices.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 19th September 2025 and signed on its behalf by:

Ms C M Hunt (MBE) - Trustee

I report on the accounts for the year ended 31st December 2024 set out on pages five to twelve.

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.

Melanie Francis ACCA

The Association of Chartered Certified Accountants

Goldwells

Wards House

Wards Road

Elgin

Moray

IV30 1NL

19th September 2025

2024

2023

Unrestricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

-

Charitable activities

Findhorn Village Centre

18,119

19,851

Hostel

50,318

30,432

Other trading activities

2

2,518

2,151

Total

70,957

52,434

EXPENDITURE ON

Charitable activities

Findhorn Village Centre

29,546

29,051

Hostel

34,026

19,212

Other

32,444

33,649

Total

96,016

81,912

NET INCOME/(EXPENDITURE)

(25,059

)

(29,478

)

RECONCILIATION OF FUNDS

Total funds brought forward

528,041

557,519

TOTAL FUNDS CARRIED FORWARD

502,982

528,041

2024

2023

Unrestricted

Total

funds

Notes

£

FIXED ASSETS

Tangible assets

6

419,635

452,079

CURRENT ASSETS

Debtors

7

5,229

4,471

Cash at bank and in hand

88,434

77,191

93,663

81,662

CREDITORS

Amounts falling due within one year

8

(5,816

)

(1,200

)

NET CURRENT ASSETS

87,847

80,462

TOTAL ASSETS LESS CURRENT
LIABILITIES

507,482

532,541

CREDITORS

Amounts falling due after more than one year

9

(4,500

)

(4,500

)

NET ASSETS

502,982

528,041

FUNDS

11

Unrestricted funds:

Unrestricted funds

131,823

129,901

Designated funds

371,159

398,140

502,982

528,041

TOTAL FUNDS

502,982

528,041

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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 19th September 2025 and were signed on its behalf by:

Ms C M Hunt (MBE) - Trustee

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.

Freehold property

-

4% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	OTHER TRADING ACTIVITIES

2024

2023

£

SSE FITS

2,518

2,151

3.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024

2023

£

Independent Examiner Cost

980

1,000

Depreciation - owned assets

32,444

33,424

4.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023.

5.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2024

2023

Findhorn Village & Hostel

1

No employees received emoluments in excess of £60,000.

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

COST

At 1st January 2024 and
31st December 2024

738,125

34,676

9,492

1,241

783,534

DEPRECIATION

At 1st January 2024

297,673

25,040

7,650

1,092

331,455

Charge for year

29,525

2,409

460

50

32,444

At 31st December 2024

327,198

27,449

8,110

1,142

363,899

NET BOOK VALUE

At 31st December 2024

410,927

7,227

1,382

99

419,635

At 31st December 2023

440,452

9,636

1,842

149

452,079

7.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

3,893

2,740

Other debtors - C-19 Village f

-

98

Prepayments

1,336

1,633

5,229

4,471

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Social security and other taxes

-

19

Accrued expenses

5,816

1,181

5,816

1,200

9.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Other loans (see note 10)

4,500

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

Amounts falling between one and two years:

Other loans - 1-2 years

4,500

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted funds

129,901

1,922

131,823

Designated funds

398,140

(26,981

)

371,159

528,041

(25,059

)

502,982

TOTAL FUNDS

528,041

(25,059

)

502,982

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

70,957

(69,035

)

1,922

Designated funds

-

(26,981

)

(26,981

)

70,957

(96,016

)

(25,059

)

TOTAL FUNDS

70,957

(96,016

)

(25,059

)

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.1.23

in funds

funds

31.12.23

£

Unrestricted funds

133,940

(2,446

)

(1,593

)

129,901

Designated funds

423,579

(27,032

)

1,593

398,140

557,519

(29,478

)

-

528,041

TOTAL FUNDS

557,519

(29,478

)

-

528,041

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

52,434

(54,880

)

(2,446

)

Designated funds

-

(27,032

)

(27,032

)

52,434

(81,912

)

(29,478

)

TOTAL FUNDS

52,434

(81,912

)

(29,478

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

Transfers

movement

between

At

At 1.1.23

in funds

funds

31.12.24

£

Unrestricted funds

133,940

(524

)

(1,593

)

131,823

Designated funds

423,579

(54,013

)

1,593

371,159

557,519

(54,537

)

-

502,982

TOTAL FUNDS

557,519

(54,537

)

-

502,982

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

123,391

(123,915

)

(524

)

Designated funds

-

(54,013

)

(54,013

)

123,391

(177,928

)

(54,537

)

TOTAL FUNDS

123,391

(177,928

)

(54,537

)

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2024.