REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2023 |
for |
AN LOCHRAN |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2023 |
for |
AN LOCHRAN |
AN LOCHRAN |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 11 |
AN LOCHRAN (REGISTERED NUMBER: SC214916) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
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 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The company's objects and principal activities are to advance and assist in the promotion of the education of the public and in particular the Gaelic community by the provision of a range of educational, community, arts and cultural facilities. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
An Lochran continues to work with a wide variety of organisations in the newly refurbished premises that facilitates collaboration and fosters a sense of community. This includes recurring events such as conversation circles, hot-desking and games nights as well as seasonal and one-off events.. |
An Lochran continues to host its own events and works collaboratively with other agencies to assist in the promotion of the Gaelic language. |
Thanks also to Rosemary Morris for her input on financial reporting throughout the year. |
We look forward to the coming year, and to continue supporting arts within the Glasgow Gaelic community. |
FINANCIAL REVIEW |
Principal funding sources |
The charity receives an annual grant from Bòrd na Gàidhlig. |
Reserves policy |
The policy of the company is to maintain adequate financial reserves to finance the cost of operations and productions to avoid if possible the necessity for bank borrowing while awaiting the receipt of revenue funding. The aim of the company in this regard is to build an unrestricted general fund to cover, if possible, six months operating costs. |
FUTURE PLANS |
This is covered in the Achievements and Performance section. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The organisation is a charitable company limited by guarantee, incorporated initially as Ionad Ghàidhlig Ghlaschu on 9 November 2001 and registered as a Scottish charity and by special resolution changed its name to An Lòchran on 11 July 2003. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being would up members are required to pay an amount not exceeding £1. |
Recruitment and appointment of new trustees |
New directors are nominated by the Board as and when a vacancy occurs. Directors are chosen to represent three broad sectors - arts and culture, business and commerce and the Gaelic community. Directors are not remunerated. One third of the directors retire by rotation at the Annual General Meeting. |
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. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
AN LOCHRAN (REGISTERED NUMBER: SC214916) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Andrew Cumming CA |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
TRUSTEES' RESPONSIBILITY STATEMENT |
The trustees (who are also the directors of An Lochran for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". |
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 period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
AN LOCHRAN (REGISTERED NUMBER: SC214916) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
TRUSTEES' RESPONSIBILITY STATEMENT - continued |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 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. |
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 |
Independent Examiner's Report to the Trustees of |
An Lochran |
I report on the accounts for the year ended 31 March 2023 set out on pages five 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. |
Andrew Cumming CA |
The Institute of Chartered Accountants of Scotland |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
20 December 2023 |
AN LOCHRAN |
Statement of Financial Activities |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 12,411 |
AN LOCHRAN (REGISTERED NUMBER: SC214916) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds | 12,411 |
TOTAL FUNDS | 12,411 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 |
AN LOCHRAN |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
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 presentation currency of the accounts is Pound sterling (£). |
The accounts are rounded to the nearest £1 |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of paragraph 3.17(d); |
• | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); |
• | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A; |
• | the requirement of paragraph 33.7. |
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. |
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. |
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. |
AN LOCHRAN |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | DONATIONS AND LEGACIES |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Grants | 34,730 | - |
Celtic Connections concert | (1 | ) | - | (1 | ) | - |
Other events income | 572 | - | 572 | 1,618 |
Other income | 60 | - | 60 | 34 |
35,361 | - |
Grants received, included in the above, are as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Bord na Gaidhlig - core funding | 32,580 | 35,480 |
Feisean nan Gaide | 1,800 | - |
Foram Na Nog | 200 | - |
Glasgow Partick | 150 | - |
34,730 | 35,480 |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
4. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.3.23 | 31.3.22 |
Development Officer |
AN LOCHRAN |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 5,207 | (5,207 | ) | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 16,776 | 5,207 |
TOTAL FUNDS CARRIED FORWARD | 12,411 | - | 12,411 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Social security and other taxes |
Accrued expenses |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 12,411 | (11,952 | ) | 459 |
TOTAL FUNDS | (11,952 | ) | 459 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 35,361 | (47,313 | ) | (11,952 | ) |
TOTAL FUNDS | ( |
) | (11,952 | ) |
AN LOCHRAN |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
7. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 16,776 | (9,572 | ) | 5,207 | 12,411 |
Restricted funds |
General fund | 5,207 | - | (5,207 | ) | - |
TOTAL FUNDS | 21,983 | (9,572 | ) | - | 12,411 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 37,132 | (46,704 | ) | (9,572 | ) |
TOTAL FUNDS | 37,132 | (46,704 | ) | (9,572 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 16,776 | (21,524 | ) | 5,207 | 459 |
Restricted funds |
General fund | 5,207 | - | (5,207 | ) | - |
TOTAL FUNDS | 21,983 | (21,524 | ) | - | 459 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 72,493 | (94,017 | ) | (21,524 | ) |
TOTAL FUNDS | 72,493 | (94,017 | ) | (21,524 | ) |
AN LOCHRAN |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
7. | MOVEMENT IN FUNDS - continued |
The Restricted General Fund is used to record income and expenditure on specific projects. |
The transfer from the Restricted General Fund to the Unrestricted General Fund took place following a review by the trustees, who were satisfied that all restricted funds had been spent in accordance with the funding received. |
8. | RELATED PARTY DISCLOSURES |