Killearn Community Futures Company - Charities report

REGISTERED COMPANY NUMBER: SC253299 (Scotland)

REGISTERED CHARITY NUMBER: SC35472

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 July 2026

for

Killearn Community Futures Company

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

11

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 July 2026. 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).

ACHIEVEMENTS AND PERFORMANCE

As we announced last year, we have actively throughout 2026 promoted the 200th anniversary of the construction of the village hall. The building today while much extended in order to accommodate a wide range of activities still retains the main elements and character of the original design. We should again recognise the foresight of the founders of KCFC who undertook the huge task of raising the funds to allow for the extensive improvements which have been incorporated in the hall as we know it today.

Our 200th anniversary fund-raising programme has progressed well throughout the year and we are now in a position to commence planning for a programme of essential maintenance. In addition, we hope to undertake further work to enhance the attractiveness of the appearance of the hall on its frontage overlooking the glebe and beyond to Loch Lomond. As funds allow it is our intention to improve the outside space for day-to-day use but also to offer another location for larger numbers to gather in order to enjoy our wonderful surroundings when the weather allows. This will be achieved by an increase in paved areas landscaping and permanent outdoor seating. We would like to extend a huge thank you to all who have donated so generously.

Our working groups have as ever been very active throughout the year. Archive regularly helps with enquiries from all over the world with family heritage queries while the Heritage group engage in particular with the younger generation teaching them about our natural environment. The Courier continues its wonderful function of keeping us up to date on all matters Killearn and amongst many other activities the Cycling group are well on their way to achieving their target of collecting 200 bicycles for reuse after refurbishment. Paths have been on a regular basis maintaining paths in and around the village. Colourful Killearn ensure that the village continues to have for most of the year a bright and vibrant look while our annual fireworks display provides a bit of excitement as winter approaches. Sustainable Killearn engages with our surrounding villages across a wide range of ecological topics to ensure our voice has weight and is recognised through the decision taking processes of local government.

Finally, and returning to the hall we are encouraged by the good progress that continues as we work towards generating a surplus and therefore covering all day to day costs.

KCFC thrives because of the dedication and commitment of so many volunteers across all our activities and we once again thank each and every one for their contribution to the continued success of KCFC.

FINANCIAL REVIEW

Financial position

The statement of financial activities shows that a surplus of £54,553 was generated in the year under review. However, this includes over £50,000 of one off donations in respect of the 200th anniversary appeal.

Total funds at 31 July 2026 are £396,493. The free reserves of the general fund and the unrestricted Village Hall Operational fund total £94,161.

Reserves policy

The trustees endeavour to maintain free reserves at a level adequate to protect against loss of income from the wedding market and unexpected costs relating to the building.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC253299 (Scotland)

Registered Charity number

SC35472

Registered office

Killearn Village Hall

5 Balfron Road

Killearn

G63 9NL

Trustees

Graeme Fraser

Fiona Rennie

Peter Smith

Peter Wilks

Nicholas Hawkins

Ronnie Hayton

Elizabeth Jones

James Ptolomey

Jan Thompson

Robert Ballantyne (resigned 13.11.2025)

Iain Somerville (appointed 21.10.2025) (resigned 30.6.2026)

Euan Shaw (resigned 21.10.2025)

Independent Examiner

Bell Barr & Company

Chartered Accountants

2 Stewart Street

Milngavie

Glasgow

G62 6BW

Approved by order of the board of trustees on 12 October 2026 and signed on its behalf by:

Graeme Fraser - Trustee

I report on the accounts for the year ended 31 July 2026 set out on pages four to eleven.

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.

Jennifer Irvine

The Institute of Chartered Accountants of Scotland

Bell Barr & Company

Chartered Accountants

2 Stewart Street

Milngavie

Glasgow

G62 6BW

Date: .............................................

31.7.26

31.7.25

Unrestricted

Restricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

57,537

-

57,537

4,407

Charitable activities

Killearn Community Activities

97,122

38,261

135,383

124,353

Investment income

2

1,515

-

1,515

-

Total

156,174

38,261

194,435

128,760

EXPENDITURE ON

Charitable activities

Killearn Community Activities

100,069

39,813

139,882

145,029

NET INCOME/(EXPENDITURE)

56,105

(1,552

)

54,553

(16,269

)

RECONCILIATION OF FUNDS

Total funds brought forward

78,299

263,641

341,940

358,209

TOTAL FUNDS CARRIED FORWARD

134,404

262,089

396,493

341,940

31.7.26

31.7.25

Unrestricted

Restricted

Total

funds

Notes

£

FIXED ASSETS

Tangible assets

5

-

1,173,090

1,208,365

CURRENT ASSETS

Debtors

6

34,853

-

34,853

27,270

Cash at bank and in hand

160,581

11,518

172,099

94,534

195,434

11,518

206,952

121,804

CREDITORS

Amounts falling due within one year

7

(61,030

)

-

(61,030

)

(40,084

)

NET CURRENT ASSETS

134,404

11,518

145,922

81,720

TOTAL ASSETS LESS CURRENT
LIABILITIES

134,404

1,184,608

1,319,012

1,290,085

ACCRUALS AND DEFERRED INCOME

8

-

(922,519

)

(922,519

)

(948,145

)

NET ASSETS

134,404

262,089

396,493

341,940

FUNDS

9

Unrestricted funds

134,404

78,299

Restricted funds

262,089

263,641

TOTAL FUNDS

396,493

341,940

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2026 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 12 October 2026 and were signed on its behalf by:

Fiona Rennie - Trustee

Graeme Fraser - 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.

The trustees have reviewed the charity's operating costs for the next twelve months, and the sources of funds available, and are satisfied that the charity is a going concern.

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.

Donations are included in the financial period in which they become receivable. Grants received in connection with the village hall development have been treated as deferred income and are credited to the Statement of Financial Activities over the expected useful life of the asset. This is a departure from the requirements of the Statement of Recommended Practice for Charity Accounts.

The Directors are of the opinion that in the case of major capital grants such as the grants received to fund the refurbishment of the village hall, the grant must be spread over the life of the asset, in the same way as the annual depreciation charge is, adhering to the fundamental accounting principle of matching income to corresponding expenses. Although the income recognition rules within the SORP may be suitable for grants to cover revenue expenditure, the directors feel that they are not suitable for major capital grants of this nature, and that the deferral method is necessary in order for the financial statements to show a true and fair view as required by the Companies Act.

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.

Land and Buildings

-

2% on cost

Furniture, Fixtures and Fittings

-

10% on reducing balance

Audio and IT Equipment

-

25% 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.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

Financial Instruments

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.

2.	INVESTMENT INCOME

31.7.26

31.7.25

£

Bank Interest

1,515

-

3.	NET INCOME/(EXPENDITURE)

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

31.7.26

31.7.25

£

Depreciation - owned assets

35,275

35,697

4.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2026 nor for the year ended 31 July 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2026 nor for the year ended 31 July 2025.

5.	TANGIBLE FIXED ASSETS

Furniture,

Fixtures

Audio and

Land and

and

IT

Buildings

Fittings

Equipment

Totals

£

COST

At 1 August 2025 and 31 July 2026

1,583,918

144,950

17,241

1,746,109

DEPRECIATION

At 1 August 2025

410,910

110,002

16,832

537,744

Charge for year

31,678

3,495

102

35,275

At 31 July 2026

442,588

113,497

16,934

573,019

NET BOOK VALUE

At 31 July 2026

1,141,330

31,453

307

1,173,090

At 31 July 2025

1,173,008

34,948

409

1,208,365

6.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.26

31.7.25

£

Trade Debtors

29,774

20,830

Prepayments and Accrued Income

5,079

6,440

34,853

27,270

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.26

31.7.25

£

Income in Advance

45,940

27,940

Accrued Expenses

15,090

12,144

61,030

40,084

8.	ACCRUALS AND DEFERRED INCOME

31.7.26

31.7.25

£

Deferred government grants

922,519

948,145

9.	MOVEMENT IN FUNDS

Net

movement

At

At 1.8.25

in funds

31.7.26

£

Unrestricted funds

General fund

7,045

(880

)

6,165

Fireworks

11,384

(1,190

)

10,194

Cycling Killearn

3,593

(388

)

3,205

Courier

18,377

3,435

21,812

Paths

87

(24

)

63

Woodlands

1,189

-

1,189

Village Hall Operational

32,212

55,784

87,996

Archive

86

(99

)

(13

)

Colourful Killearn

510

(987

)

(477

)

Killearn Heritage Trail

84

(226

)

(142

)

156,174

(100,069

)

56,105

Restricted funds

Village Hall Development

25,626

(35,275

)

(9,649

)

Village Hall Operational (Restricted)

12,635

(4,538

)

8,097

38,261

(39,813

)

(1,552

)

TOTAL FUNDS

194,435

(139,882

)

54,553

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.8.24

in funds

funds

31.7.25

£

Unrestricted funds

84,015

(5,716

)

-

78,299

Restricted funds

Village Hall Development

270,291

(10,071

)

-

260,220

Sustainable Killearn (Restricted)

200

-

200

Cycling Killearn (Restricted)

3,703

(1,385

)

-

2,318

Village Hall Operational (Restricted)

-

903

-

903

274,194

(10,553

)

-

263,641

TOTAL FUNDS

358,209

(16,269

)

-

341,940

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

99,628

(105,344

)

(5,716

)

Restricted funds

Village Hall Development

25,626

(35,697

)

(10,071

)

Cycling Killearn (Restricted)

-

(1,385

)

(1,385

)

Village Hall Operational (Restricted)

3,506

(2,603

)

903

29,132

(39,685

)

(10,553

)

TOTAL FUNDS

128,760

(145,029

)

(16,269

)

Each of the various community groups maintains its accounts in a separate designated fund as detailed above.

The Village Hall Development Fund represents the book value of tangible fixed assets, net of the deferred capital grant.

The Restricted Village Hall Operational Fund includes sums of £10,250 from the National Lottery, £1,000 from Stirling Council Community Fund and £1,385 from the Co-Op Community Fund. These funds are for the purpose of supporting various community activities.

10.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2026.