The trustees present their report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the 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)".
The main objectives of S.I.S.G. Enterprises Limited Charity is to provide the following FREE services:-
To provide free practical and social help service for older people with hearing and sight loss
To provide support for hearing aid users and those with sight loss and their families/carers
To provide ongoing advice and signposting service
To provide rehabilitation through skills training
To provide education through sensory awareness training
To recruit and train volunteers to assist within the local community – community help hubs, individuals in their own homes, sheltered housing, day care centres and care homes.
To bring older people with hearing/sight loss out of isolation and increase their confidence and ability to communicate.
8. To provide peer support groups / activity groups for those with sensory loss
On 1st November 2020 SISG won the Tender to operate a 3 year contract with all three councils as follows, this will run until 1st November 2023 at which point we will re-submit our Tender application:-
“Pan Ayrshire Hearing Support Service”
Hearing Support Hubs throughout Ayrshire (14 locations)
Battery Pick Up Points throughout Ayrshire (27 locations)
Peer Support Groups (3 groups – 1 in North, South and East Ayrshire)
Support Calls
Door Step Visits
Sensory Help Packs
Hearing Support Videos
Support to Care Homes/Sheltered Housing
Also we won 2 years funding from the “Living Well Fund” through the Alliance & Mental Health Foundation to provide emotional and wellbeing support to Older People with Sensory Loss in Sept 2021, this will run until Sept 2023 as follows:-
“Improving Emotional Support, Communication & Connections for Older People with Sensory Loss”
Wellbeing Café (Ayr)
Managing Sight Loss & Improving Wellbeing one to one sessions
Managing Hearing Loss & Improving Communication group training support sessions
Supporting Wellbeing Videos
Sensory Help Packs
Battery Pick Up Points – local third sector partners
Also in Feb 2022 we won 2 years funding from the Community Fund to operate the following project:-
Community Fund Project
Communicate & Connect Groups
Wellbeing Café (Alloway)
Home Support Visits
Sensory Help Packs & Guidance Notes
Supporting Wellbeing Videos
We also operated the following small projects during 2022:-
Foundation Scotland – (Funded from March 22-March 23)
Wellbeing Café (Barassie)
Wellbeing Sensory Packs
Supporting Wellbeing Videos
Wellbeing Fund (EA) – (Funded from March 22-March 23)
Wellbeing Sensory Café (Park Hotel Kilmarnock)
Wellbeing Sensory Packs
Supporting Wellbeing Videos
Wellbeing Fund (SA) (Funded (Funded from March 22-March23)
Wellbeing Sensory Café (Carlton Hotel Prestwick)
Wellbeing Sensory Packs
Supporting Wellbeing Videos
During 2022 the charity carried out a total of 10,540 Community Interventions which is substantially more than the previous year, demonstrating the increasing demand for our services in the communities throughout North, South and East Ayrshire. We operated a total of six projects during the course of 2022.
The board of directors has reviewed the reserves of the charity. This review concluded that to allow the charity to be managed efficiently and to provide a buffer for uninterrupted services, a reserve is required to cover the timing of contributors’ grants.
The charity is committed to building up their reserves to safeguard the activities of the charity. At the end of 2022 the charity had £5,380 (2021 - £29,064) in unrestricted reserves and £11,913 (2021 - £12,448) in restricted reserves. This is held so that if the charity has to fold there would be enough money to cover closure costs.
The results for the year and financial position are shown in the annexed financial statements.
In the opinion of the trustees, the state of the charity's affairs at the balance sheet date was satisfactory but they would like to see more reserves on hand to meet anticipated expenditures moving forward.
During 2021 S.I.S.G were in the last year of their three years project which was funded partly by The Community Fund and other funders. However we are delighted to report that after a further funding application was submitted to the Community Fund we have been granted a further 2 years to operate a project “Improving Emotional Support, Communication & Connections for Older People with Sensory Loss” this commenced on the 14th February 2022. We have also managed to secure more recently 3 other small funders each for 12 months funding for Wellbeing Projects – South Ayrshire Wellbeing Funding / East Ayrshire Wellbeing Fund / Foundation Scotland.
S.I.S.G. Enterprises Limited is a company limited by guarantee and a registered charity governed by 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 and up to the date of signature of the financial statements were:
At each Annual General Meeting, the members may elect any member, providing they are willing, to be a Trustee. Also, at any time, the other Trustees may appoint any member wishing to be a Trustee.
At each Annual General Meeting all of the Trustees shall retire from office but shall then be eligible for re-election.
The maximum number of Trustees is eight with three constituting a quorum. At this years Annual General Meeting all the Trustees stood down, as required by the constitution, and offered themselves for re-election.
The day-to-day management of the charity is delegated by the Trustees to the Chair and the Project Manager and the team of paid employees.
The trustees have a duty to identify and review the risk to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The external risk of the charity relates largely to the continued support of the local authorities and other contributors. Internal risks are minimised by the implementation of procedures for authorisation of transactions and by the provision of a consistent quality of delivery for all operational aspects of the charitable company.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of SISG Enterprises Ltd 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 charity 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 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 charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report on the financial statements of the charity for the year ended 31 December 2022, which are set out on pages 8 to 20.
The charity’s trustees, who are also the directors of SISG Enterprises Ltd for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.
In connection with my examination, no matter has come to my attention:
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 financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
SISG Enterprises Ltd is a private company limited by guarantee incorporated in Scotland. The registered office is Suite 4, Beresford Court, 6-8 Beresford Lane, AYR, Ayrshire, KA7 2DW, United Kingdom.
The financial statements have been prepared in accordance with the charity's [governing document], the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
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 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.
Trustees' expenses
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.
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
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 net income/(expenditure) for the year.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity 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 charity's balance sheet when the charity 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 charity’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 charity 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.
Grants
Charitable Expenditure
Charitable Expenditure
Sundries
Telephone
Postage, stationery & adv
Rent & rates
Heat & light
Insurance
Travelling expenses
Subscriptions
Computer expenses
Support costs
Sensory help packs
Property expenses
Bank charges
Accountancy
There were no Trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustee's expenses
During the year, trustees were not reimbursed any travel expenses for the current or prior year.
The average monthly number of employees during the year was:
These are unrestricted funds which are material to the charity's activities made up as follows:
Incoming resources
Resources expended
Transfers
Incoming resources
Resources expended
Transfers
Unrestricted funds
Restricted funds
Unrestricted funds
Restricted funds
There were no disclosable related party transactions during the year (2021 - none).