REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements For The Year Ended 31 March 2023 |
for |
Beith Community Development Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements For The Year Ended 31 March 2023 |
for |
Beith Community Development Trust |
Beith Community Development Trust |
Contents of the Financial Statements |
For The Year Ended 31 March 2023 |
Page |
Report of the Trustees | 1 | to | 15 |
Report of the Independent Auditors | 16 | to | 19 |
Statement of Financial Activities | 20 |
Statement of Financial Position | 21 |
Statement of Cash Flows | 22 |
Notes to the Statement of Cash Flows | 23 |
Notes to the Financial Statements | 24 | to | 41 |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
The trustees are pleased to present their annual directors report together with the financial statements of the charity for the year ending 31 March 2023 which are also prepared to meet the requirements for a directors report and accounts for Companies Act purposes. |
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 2015). |
Report from the Chair |
As we reflect on the past year at Beith Trust, I am honoured to present my first report as Chairperson. This year has been a testament to the enduring spirit and resilience of our community, and the unwavering commitment of Beith Trust to nurture and enable growth, connection, and wellbeing in Beith. |
Beith Trust, since its inception in 2012, has continued to evolve, inspired by the enduring dream that began at Beith Astro. This year, we have seen our community's capacity not only grow but flourish in ways that echo our initial aspirations and extend beyond them. Our commitment to authenticity and alignment with our community's aspirations has never been stronger. |
This year has been marked by significant achievements and challenges. Our impactful activities, as detailed in a recent Social Return on Investment analysis, showcase our dedication to creating meaningful opportunities and experiences. |
We are proud of the 1249 unique attendees who participated in our programmes, the 3430 hours of volunteer contributions to valuable community services, the 440 work-related training and qualifications achieved across various work and personal development-related sectors, and the ever-increasing footfall, this year totaling 42713 attendances, across all our activities. |
These numbers are not just statistics; they are a reflection of individual stories of growth, resilience, and community spirit. |
The role of Beith Trust in stimulating personal progression and setting new standards within the community has been more crucial than ever. |
We have continued our incremental approach to sustainable development, addressing the challenges of economic decline and inequality. This approach is evident in our diverse initiatives, such as the Geilsland Project and its programme of activities, volunteering, training, and employment which enables volunteer-led initiatives such as Lend an Ear Befriending service, and Garnock Valley Helping Hands which supports vulnerable families. |
We have also navigated the complexities of the current global economic condition, focusing on creating conditions that resonate with the essence of the human condition - connection, music, food, friendship, play, art, nature, and community. These elements are vital, especially for those most affected by inequality. |
As the new Chairperson, I am deeply moved by the efforts and energy of our staff, volunteers, members, and community. Their kindness, insightfulness, and tireless dedication have been the driving force behind Beith Trust's continued success. We have worked collectively to overcome the challenges posed by the pandemic and the evolving economic landscape. Looking ahead, Beith Trust remains committed to being a catalyst for change. We will continue to adapt, learn, and grow, ensuring that our community-led perspective remains at the forefront of our efforts. |
In closing, I would like to extend my deepest gratitude to everyone who has been a part of our journey this year. Your support, belief, and participation in our mission make all the difference. Together, we are not just dreaming of a better future; we are actively building it. |
Robert Ferguson |
Chairperson, Beith Trust |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
OBJECTIVES AND ACTIVITIES |
Our Mission, Approach and Charitable Objectives |
The development and planned creation of new subsidiary arms, such as the Geilsland Enterprise and Beith Hive, are set to enhance our operational efficiency and financial sustainability in the future. |
These entities will spearhead our efforts in offering innovative community projects and commercial activities, aligning with our goals of environmental sustainability and community well-being. |
This year, 2022/23 has been an exciting period of transformation for Beith Trust. Focusing not just on internal growth; but also on strengthening our capacity to serve our community more effectively, particularly in addressing the critical challenges of climate change and societal well-being. |
We are laying a solid foundation for a future where Beith Trust continues to be a catalyst for positive change, fostering a community where everyone, including the most vulnerable, can thrive. |
As Beith Trust continues to innovate and adapt to the ever-changing needs of our community, we find ourselves at the forefront of a significant shift in local and regional strategies. Our approach, deeply rooted in community empowerment and sustainable development, resonates strongly with the principles of Community Wealth Building (CWB) and the well- being economy being championed in North Ayrshire. The North Ayrshire Council's commitment to CWB, as detailed in their Council Plan and Community Wealth Building Strategy, aligns with Beith Trust's long-standing efforts to create a fair and resilient local economy. Our initiatives, such as the 'Lend an Ear' befriending service and the Garnock Valley Helping Hands, embody the CWB ethos by rising to local economic opportunities and enhancing community well-being. These projects have not only addressed immediate needs but have also laid the groundwork for a more sustainable and inclusive future. |
Moreover, our emerging focus on environmental sustainability and tackling the climate crisis mirrors the North Ayrshire Council's strategic aim to achieve net zero by 2030. |
Beith Trust's commitment to planting trees, promoting green spaces, and supporting community-owned energy generation aligns with the Council's efforts to reduce carbon footprints and promote a circular economy. |
The restructuring plans of Beith Trust, aimed at enhancing our organisational efficiency and capacity for community service, reflect a proactive response to these evolving local strategies. By aligning our internal structure and governance with the broader goals of CWB and the well-being economy, we are ensuring that our organisation not only keeps pace with but also actively contributes to the larger vision of sustainable community development in North Ayrshire. |
Beith Trust's initiatives and restructuring efforts demonstrate a clear alignment with the strategic aims and priorities of North Ayrshire Council. Our work, deeply interconnected with the community's needs and aspirations, is an integral part of the evolving policy and strategic landscape. This alignment underscores our role as a key player in the transition towards a well-being economy, where every member of the community is valued, and sustainable development is a shared goal. |
Beith Trust charitable objectives, as set out in the memorandum and articles of association, are: |
- To advance citizenship and community development in Beith through the maintenance, regeneration, and improvement of the communities' physical, economic, social, and cultural infrastructure. |
- To advance community participation in sport and physical activity by providing local access (either free of cost or at reduced cost) to a varied range of opportunities, both formal and informal. |
- To advance community health and well-being by promoting a culture of physical and mental well-being through providing opportunities, (either free of cost or at reduced cost) to access expertise, knowledge, support, and activities that result in the adoption of lifelong healthy habits. |
- To provide, operate/manage a recreational centre(s) providing facilities for sport, health, and physical and mental well-being, which may include healthy refreshment facilities. |
- To advance education in the following fields, health, physical and mental well-being, sports education, and the environment. |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
- The prevention or relief of poverty by providing employability-related education, coaching, and training; whilst also supporting individuals who are affected by complex life situations to be equipped to interact with others, deal with hardship and undertake activities of meaningful purpose or employment. |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
STRATEGIC REPORT |
Achievement and performance |
Charitable activities |
Beith Trust's approach, deeply aligned with Community Wealth Building principles, has demonstrated a significant, multi-dimensional impact on the Beith community, as evidenced by the recent Social Return on Investment (SROI) report. |
Beith Trust has created substantial social and economic value within the community, evidenced by an impressive total value of £1,536,696 and an SROI ratio of £8.68 for every pound invested. This remarkable achievement is not only a reflection of financial efficacy but also underscores the Trust's profound commitment to inclusivity, particularly in providing opportunities for individuals often marginalized or overlooked by mainstream services. |
Beith Trust's initiatives, such as Garnock Valley Helping Hands and the 'Lend an Ear' befriending service and supported volunteer and employment placements have been pivotal in reaching and uplifting the most vulnerable segments of the community. These initiatives have significantly enhanced the financial stability, mental health, and social connections of those who might otherwise be excluded, such as vulnerable families, the elderly, and people facing economic hardships. The Trust's focus on these groups exemplifies a deep understanding of the diverse needs within the community. |
Furthermore, Beith Trust's approach in empowering individuals traditionally beyond the 'mainstream' is a standout aspect of its work. By creating pathways for skill development, personal growth, and community engagement for all members of society, the Trust ensures that every individual has the opportunity to contribute to and benefit from the community's growth and regeneration. This inclusive approach not only aids individuals in realizing their potential but also fosters a stronger, more cohesive community where every member feels valued and supported. |
Beith Trust's impact extends well beyond conventional community development metrics, reaching into the heart of the community to uplift those who are often left behind. By focusing on inclusivity and creating opportunities for all, especially those traditionally marginalised, Beith Trust is not just making Beith better; it is setting a standard for community-led, inclusive growth and development. |
These aspects of Beith Trust's work, grounded in current challenges and community needs, highlight its ongoing relevance and strong connection to the people it serves. The Trust's activities not only address immediate needs but also promote long-term personal growth, community resilience, and sustainable social value creation. By staying attuned to both the immediate and long-term needs of the community, Beith Trust exemplifies a dynamic, responsive, and deeply impactful approach to community development. |
Acknowledgements |
Beith Trust's initiatives embody a change model crafted by the community, targeting the unique challenges of modern life as they impact the residents and locales of your area. |
Additionally, a myriad of individuals, groups, clubs, and service entities are actively engaged within the community. Their involvement ranges from collaborating with Beith Trust to forming alliances with your organization or other entities. The dedication and ongoing commitment these community members demonstrate towards Beith are deserving of recognition and praise. |
In particular, we would like to thank and highlight the work of: |
Garnock Valley Locality Partnership Barrmill Community Association Barrmill Conservation Group |
Beith Health Centre & local Health Practitioners |
Garnock Valley Helping Hands Volunteers Beith Community Council |
Kilbirnie Community Council |
Beith Juniors Community Football Club |
St Bridget's Primary School Garnock Community Campus Beith Primary School Gateside Primary School Beith Young Farmers Garnock Rugby Club |
Beith Juniors FC |
Beith Skate and Play Park Initiative North Ayrshire Council Officers |
NA Health and Social Care Partnership NA Community links workers |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
NAC Social Services Jolly Beggars Society |
Bridgend Community Association |
Beith & District Community Association Beith Community Council |
Trinity Travel Hub Café Solace Kilbirnie |
Dalry Community Development Hub Dalry Sports Club |
Dalry Mens Shed |
Garnock Valley Pipes and Drums Spark of Genius |
Finally, the Trustees of Beith Trust recognise and commend the vital input of volunteers in the organisation. |
A great deal of work that Beith Trust does is delivered with limited resources and the Trustees recognise the skill and determination of the staff team who drive the organisation and set and maintain the high standard that our community deserves. |
Thank you. |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
STRATEGIC REPORT |
Achievement and performance |
Activity |
During the year ending 31 March 2023 Beith Trust recorded the following measured statistics within our services, |
activities and projects; |
o 1373 activity sessions |
o 9731 attendances via registers |
o 32780 attendances via headcounts |
o 982 Volunteer attendances |
o 889 Befriending calls |
o 68 Volunteers |
o 3430 volunteering hours |
o 269 Vulnerable family support |
o 374 Work related training |
o 8 Community events |
o 70 Accreditations gains |
Projects |
Geilsland Project |
The community-owned asset is a cornerstone for local enterprise, driving practical activities that benefit both people and nature. It serves as a hub for innovative community ventures and sustainable development, fostering an environment where economic and ecological interests are aligned and mutually thriving. |
- Jobs, Volunteering, Training, Skills and Recreational Courses |
- Infrastructure, equipment, knowledge and space for individuals, groups & business |
- Accommodation for visitors & enterprise Arts, Culture & Heritage programme |
- Natural Environment programme |
- Events and Festivals programme |
- Leadership programme |
- Improved amenity & greenspace |
- Enterprise & Services |
Astro Project |
A town centre hub encompassing football pitches, nature areas, and spaces dedicated to play. This versatile base serves as a vibrant gathering place, fostering community engagement and connection through an array of recreational and environmental activities. |
- Community/ Youth Engagement |
- Social & Recreational spaces |
- Access to support & services |
- Garden & Growing Spaces |
- Outdoor Play, Arts & Crafts |
- Playing Fields and Pitches |
- Community Events |
Community Projects |
Activities and initiatives designed to improve mental and physical well- being, facilitate learning, enhance skills development, and foster personal growth, a supportive environment for all ages to thrive, both personally and professionally. |
- Projects providing practical support and care for vulnerable people in the community |
- Supported Volunteering - to participate in creative / meaningful activity |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
STRATEGIC REPORT |
Achievement and performance |
- Wellbeing programme |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
STRATEGIC REPORT |
Financial review |
Financial position |
In reflecting on the impressive social and economic value created by Beith Trust, evidenced by our substantial total value of £1,536,696 and an SROI ratio of £8.68 for every pound invested, we also maintain a realistic perspective on our financial situation. |
Our achievements are a testament to not only our commitment to the community but also to our prudent financial management and strategic planning. |
As we navigate the complexities of the current economic landscape, marked by significant and increasing wealth and health inequalities and shifting funding landscapes, the need for robust financial health becomes ever more apparent. Our approach is grounded in realism but guided by ambition. We understand that sustaining and expanding our impact relies on a strong financial foundation. To this end, maintaining transparent and mutually beneficial relationships with our grant and trust funders is crucial. Their support is more than financial; it's a partnership that reflects a shared understanding of and commitment to addressing community challenges. |
To enhance our financial resilience, Beith Trust aims to increase our free reserves. This fund is crucial for ensuring operational continuity and affording us the flexibility to respond to emerging community needs. Our target is to secure reserves sufficient to cover three months of core expenditure, estimated at £60,000. This level of reserve is not only a buffer against unforeseen financial challenges but also a strategic asset, enabling us to plan confidently for the future, invest in new initiatives, and maintain the quality and breadth of our services. |
As of 31 March 2023, our free reserves stand at £213,194. This figure is a tangible indicator of our responsible fiscal management and our commitment to long-term sustainability. It is a result of careful planning, efficient resource allocation, and a deep understanding of our operational needs and community priorities. |
Looking forward, our financial strategy is poised to support our ambitious goals. We are committed to exploring new funding and income-generating avenues, diversifying our income streams, and maximising the impact of every pound invested in our work. Our financial planning is not just about maintaining the status quo; it's about building a foundation for growth, innovation, and increased community impact. |
We remain dedicated to our mission of 'Making Beith Better', ensuring that our financial strategies align with and support this vision. |
In summary, the financial outlook of Beith Trust is one of cautious optimism. We are committed to maintaining a healthy balance sheet, not as an end in itself, but as a means to continue serving our community effectively and responsibly. |
Our financial planning and management reflect our dedication to being a sustainable, impactful, and forward-thinking organisation, ready to meet the challenges of today and seize the opportunities of tomorrow. |
Principal Funding Sources |
The Trustees of Beith Trust extend their heartfelt gratitude to all the organisations and individuals that have offered their unwavering support during the 2023 financial year. |
Their remarkable flexibility and foresight in backing our evolving work, as we adapted to the shifting priorities and needs of our community, have been invaluable. We deeply appreciate their commitment and partnership in our mission to serve and uplift our community. |
In particular, we would like to mention: |
- Scottish Government |
- Big Lottery |
- Scotland's Children's Lottery |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
STRATEGIC REPORT |
- STV Children's Appeal |
- Acorns to Trees |
- Charity Aid Foundation |
- Architectural Heritage Fund |
- Local Energy Scotland |
- North Ayrshire Council |
- Befriending Networks |
- Development Trust Association Scotland |
- Suez Communities Trust |
- SP Energy Networks |
- Viridor |
- Energy Savings Trust |
- Scotland Towns Partnership |
- Tesco |
- SCVO |
- Land Trust |
- Robertson Trust |
- Suez Landfill Communities Trust |
Also, thank you to all our donors for your unwavering support. Your contributions, regardless of size, are key to our community's thriving future. |
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. |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governance |
The governing body is the Board of Trustees. At 31 March 2023 there were 9 Trustees. The maximum number of Directors is 11 and of that number, no more than 7 shall be Member Directors and no more than 4 shall be Co-opted Directors. Trustees of Beith Trust are also Directors under the Companies Act. |
The Board of Trustees has responsibility for setting and monitoring the performance of Beith Trust against strategic objectives. The Board meets a minimum of 4 times a year. The Trustees have one other committee - the Finance Subgroup. |
Legal Structure |
Beith Community Development Trust was first incorporated as a company limited by guarantee in 2011. We are constituted as a Scottish Registered Charity on 15 May 2012. Memorandum and Articles of Association govern us. |
Company Registration Number: SC394148 |
Scottish Registered Charity Number: SC043155 |
Operation |
Beith Trust head office and main centre is Geilsland House Estate, which is comprised of a large capacity venue space, accommodation units, office, workspace rentals, greenspace and woodlands. |
We also manage Beith Astro, which is set in the middle of Beith as a community hub comprising of grass and synthetic pitches, outdoor play, and growing spaces. |
Operations |
Senior Management Team |
The Board of Trustees delegate the day-to-day management of Beith Trust to the Chief Executive. |
The Chief Executive and the senior management team to report to the Trustees at least every two months |
. |
The Senior Management Team comprises; |
Jane Lamont |
Dorothy Turney |
Michelle Docherty |
Finance Subgroup |
The finance group meets every 6 weeks. It considers specific issues relating to finances and resources and makes recommendations to the Board as a whole. It also: |
o receives reports on operational matters |
o ensures the implementation of strategic decisions review's, recommends, and reports to the Board |
- on issues of financial reporting, reserves management, internal financial controls, financial risk management, and the monitoring of compliance with relevant laws, regulations, and good practices. |
The Finance Subgroup comprises; |
Ted Nevill |
John Watt |
Dorothy Turney |
Jane Lamont |
Tanya Wilson |
Michelle Docherty |
Other subcommittees are created as and when situations or processes require. |
Contact Details |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
www.Beithtrust.org |
www.Geilsland.co.uk |
E hello@beithtrust.org |
T- 01505 228141 |
T- 01505 800758 |
Trustee Appointment Process |
To enhance the board's skills and expertise, we may seek to co-opt Trustees from outside Beith when necessary. This approach ensures we have a diverse and complementary skill set on our board. Vacancies are openly advertised, and nominations are welcomed from Trustees, members, volunteers, partners, and staff. |
Diversity is a core value at Beith Trust, and we strive to maintain a board with varied perspectives, knowledge, and experiences. This diversity is crucial for effective leadership and decision-making. |
Candidates for Trustee positions engage in a thorough vetting process, including meetings with the Chairperson, Chief Executive, and current Trustees. They receive comprehensive information about Beith Trust and are invited to visit key locations and participate in community work to gain a deeper understanding of our mission and activities. |
Trustee Induction and Effectiveness |
New Trustees receive an induction pack covering their roles, responsibilities, and the legalities of being a Trustee. This induction includes detailed information about our organization, policies, ethos, community projects, strategic objectives, and partnerships. |
A significant focus is placed on safeguarding and child protection policies. Trustees are encouraged to actively engage with and observe our community work. They are also required to maintain a current register of interests, updated at each meeting or as changes occur. |
Additionally, new Trustees are invited to join the Finance and Resources subgroup meeting, further integrating them into the organisation's core activities. |
Key management remuneration |
The Directors have assessed the key management personnel of the Trust to be its CEO and Financial Manager. The board assess remuneration levels by benchmarking their specific roles with other organisations to ensure that salary levels are satisfactory. |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk Management |
Our Trustees carry the critical responsibility of ensuring Beith Trust operates within a robust system of control, safeguarding both the community's interests and assets. In an ever- changing world, our risk management strategies are designed to be dynamic and responsive. |
Foremost in our risk considerations is the safety and well-being of the community members we serve, especially the most vulnerable. This extends to the careful stewardship of our significant physical assets, ensuring they are used effectively and sustainably. |
As we navigate through a world which continues to reset in the aftermath of the pandemic, we are also acutely aware of the growing challenges posed by the climate crisis. Our commitment to sustainability not only reflects in our community projects but also in how we manage our resources and operations. We are actively exploring ways to reduce our carbon footprint, promote environmental awareness, and adapt to the realities of a changing climate. |
Key Risks |
Trustees recognise that Beith Trust faces significant risk in a wide range of areas including: |
o Financial Risks |
o Health and Safety |
o Infection Control |
o Information Management |
o People |
o Reputational Risks |
o Safeguarding |
o Technological Risks |
o Environmental Impact and Sustainability (in light of the climate crisis) |
For all these risk categories, we have established control measures that are regularly monitored and reviewed. Our aim is to mitigate these risks to an acceptable level, ensuring the long-term resilience and effectiveness of Beith Trust. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
Trustees |
Company Secretary |
Auditors |
Chartered Accountants & Statutory Auditors |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Legal Advisors |
Brodies LLP |
110 Queen Street Glasgow |
G1 3BX |
Lockarts Law |
12 Beresford Terrace, |
Ayr |
KA7 2EG |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Bankers |
Bank of Scotland |
32 Eglinton Street |
Beith |
Ayrshire |
KA15 1AH |
Insurance Brokers |
Keegan and Pennykidd |
50 Queen Street |
Edinburgh |
EH2 3NS |
Architect |
Fleming Muir |
20 St. Quivox Rd |
Prestwick |
Ayrshire |
KA9 1LJ |
Conservation Architect |
Studio SJM |
Wraysbury |
Watt Road |
Bridge of Weir |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Beith Community Development Trust 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). |
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. |
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. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
Beith Community Development Trust (Registered number: SC394148) |
Report of the Trustees |
For The Year Ended 31 March 2023 |
AUDITORS |
The auditors, Robb Ferguson, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
Report of the Independent Auditors to the Trustees and Members of |
Beith Community Development Trust |
Opinion |
We have audited the financial statements of Beith Community Development Trust (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006. |
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 Auditors' 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. |
Conclusions relating to going concern |
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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
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. |
In connection with our audit of the financial statements, 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 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 the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Trustees and Members of |
Beith Community Development Trust |
Matters on which we are required to report by exception |
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 Report of the Trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion: |
- | adequate and 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. |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees' Responsibilities, the trustees 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. |
Report of the Independent Auditors to the Trustees and Members of |
Beith Community Development Trust |
Our responsibilities for the audit of the financial statements |
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 a Report of the Independent Auditors 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. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- We identified the laws and regulations applicable to the charitable company through discussions with directors and other management, and from our wider knowledge and experience; |
- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the Companies Act 2006 and FRS 102. |
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations |
Audit response to risks identified |
To address the risk of fraud through management bias and override of controls, we: |
- Performed analytical procedures to identify any unusual or unexpected relationships; |
- Tested journal entries to identify unusual transactions; |
- Assessed whether judgements and assumptions made in determining the accounting estimates set out were indicative of potential bias; and |
- Investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- Agreeing financial statement disclosures to underlying supporting documentation; |
- Reading the minutes of meetings of those charged with governance; |
- Enquiring of management as to actual and potential litigation and claims; and |
- Requesting correspondence with HMRC, OSCR, Companies House and the company's legal advisors. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
Report of the Independent Auditors to the Trustees and Members of |
Beith Community Development Trust |
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 the trustees those matters we are required to state to them in an auditors' 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 and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants & Statutory Auditors |
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 |
70 West Regent Street |
Glasgow |
G2 2QZ |
Beith Community Development Trust |
Statement of Financial Activities |
For The Year Ended 31 March 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 | ( |
) |
Total |
EXPENDITURE ON |
Charitable activities | 5 |
Charitable activities | 280,434 | 480,733 | 761,167 | 717,713 |
Raising funds | 18,763 | - | 18,763 | 12,413 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,110,442 |
Beith Community Development Trust (Registered number: SC394148) |
Statement of Financial Position |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 13 | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 18 |
Unrestricted funds | 189,457 | 181,241 |
Restricted funds | 1,816,977 | 1,929,201 |
TOTAL FUNDS | 2,006,434 | 2,110,442 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Beith Community Development Trust |
Statement of Cash Flows |
For The Year Ended 31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (2,407 | ) | 467,341 |
Interest paid | (11,375 | ) | (3,025 | ) |
Net cash (used in)/provided by operating activities | (13,782 | ) | 464,316 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (153,449 | ) | (259,651 | ) |
Net cash used in investing activities | (153,449 | ) | (259,651 | ) |
Cash flows from financing activities |
Loan repayments in year | (18,483 | ) | (4,952 | ) |
Net cash used in financing activities | (18,483 | ) | (4,952 | ) |
Change in cash and cash equivalents in the reporting period |
(185,714 |
) |
199,713 |
Cash and cash equivalents at the beginning of the reporting period |
527,265 |
327,552 |
Cash and cash equivalents at the end of the reporting period |
341,551 |
527,265 |
Beith Community Development Trust |
Notes to the Statement of Cash Flows |
For The Year Ended 31 March 2023 |
1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2023 | 2022 |
£ | £ |
Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) |
(104,008 |
) |
276,434 |
Adjustments for: |
Depreciation charges | 114,797 | 106,724 |
Interest paid | 11,375 | 3,025 |
Decrease in debtors | 1,356 | 50,293 |
(Decrease)/increase in creditors | (25,927 | ) | 30,865 |
Net cash (used in)/provided by operations | (2,407 | ) | 467,341 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.22 | Cash flow | At 31.3.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 527,265 | (185,714 | ) | 341,551 |
527,265 | (185,714 | ) | 341,551 |
Debt |
Debts falling due within 1 year | (18,481 | ) | - | (18,481 | ) |
Debts falling due after 1 year | (163,933 | ) | 18,482 | (145,451 | ) |
(182,414 | ) | 18,482 | (163,932 | ) |
Total | 344,851 | (167,232 | ) | 177,619 |
Beith Community Development Trust |
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. |
Beith Community Development Trust is a company limited by guarantee incorporated in Scotland. The registered office is Geilsland House, Geilsland Road, Beith, Scotland, KA15 1HD. |
The financial statements are presented in Sterling (£). |
Going concern |
The financial statements have been prepared on a going concern basis. As detailed in the Trustee Annual Report, the current grant landscape of year to year project based funding is not suited to provide the long term financial support and investment that community buy out initiatives require. Therefore the directors recognise that uncertainty exists, however alternative grants and trust fund applications have been applied for. The outcome of these applications is unknown at this date. Despite this uncertainty, the trustees consider it appropriate to prepare the financial statements on a going concern basis. |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
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. |
Charitable activities |
Costs of charitable activities are incurred on achieving the charity's objectives of benefiting the community of Beith, including the support costs and costs relating to the governance of the charity. |
Allocation and apportionment of costs |
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, and governance costs which support the charity's activities. These costs have been allocated to charitable activities. |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
1. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Heritable property | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Fixed assets are included in the balance sheet at cost less depreciation and impairment. |
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. |
Designated funds are unrestricted funds earmarked by the trustees for particular 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. |
Other basic financial instruments |
The charity only has financial assets and 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. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term creditors are measured at transaction price. |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Gifts |
Grants |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
Big Lottery Medium Led Community Grant | 42,953 | - |
Youthlink Scotland - Cashback for Communities Facilities Fund | - | 5,000 |
Development Trusts Association Scotland | 10,000 | - |
Robertson Trust | - | 86,500 |
SCVO - Digital Challenge | - | 1,197 |
Development Trusts Association Scotland - Pockets and Prospects | - | 10,000 |
Big Lottery - Growing Assets | - | 94,813 |
Scottish Government - Investing in Communities Programme | 98,000 | 74,800 |
North Ayrshire Council - Community Development Support | 61,611 | 44,891 |
Job Retention Scheme | - | 6,974 |
Land Trust - Landfill Communities Fund | - | 10,000 |
Scottish Government - Wellbeing fund | 5,000 | - |
Suez Communites Trust - Landfill Communities Fund | - | 15,586 |
Big Lottery - Youth Start | 33,000 | 32,710 |
STV Children's Appeal | 3,000 | 4,000 |
Befriending Networks - Winter Support Fund | 2,000 | - |
Skills Development Scotland - Apprenticeship Employer Grant | - | 10,000 |
SCVO Community Recovery Fund | - | 82,600 |
CAF Resilience Fund | 37,859 | 123,577 |
Arran CVS - Communities Mental Health and Wellbeing Fund | - | 53,430 |
Energy Saving Trust - E-Bike | - | 16,365 |
Architectural Heritage Fund - WG Tailored Support Grant | 3,360 | 1,440 |
DWP Kickstart | 7,327 | 101,101 |
Local Energy Scotland - CARES | - | 17,773 |
HMRC | - | 790 |
BSA British Science | - | 1,000 |
North Ayrshire Council - Repurposing Derelict Property Fund | 36,246 | 3,000 |
North Ayrshire Council - BG Competitive Grant Fund | 1,563 | 1,563 |
Acorns2Trees | 8,511 | - |
Ayrshire Rural & Islands Ambitions Fund | 27,577 | - |
Energy Saving Trust SME Cashback | 11,331 | - |
389,338 | 799,110 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
3. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Fundraising events |
Astro income |
Other income | 79,730 | 28,842 |
Employment incentive | - | 27,080 |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Rents received |
5. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 6) | Totals |
£ | £ | £ |
Charitable activities | 740,177 | 20,990 | 761,167 |
Raising funds | 18,763 | - | 18,763 |
758,940 | 20,990 | 779,930 |
Donations paid out |
During the year the charity paid out £3,120 (PY: £3,500) of donations to help support local community activities. This included £379 to a Scottish Gas Project, £1,486 to the Garnock Valley Community, £800 to Helping Hands, and £455 to North Ayrshire Woman's Aid. |
6. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Charitable activities | 1,434 | 19,556 | 20,990 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
6. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
Finance |
2023 | 2022 |
Charitable | Total |
activities | activities |
£ | £ |
Bank charges | 1,434 | 685 |
Governance costs |
2023 | 2022 |
Charitable | Total |
activities | activities |
£ | £ |
Auditors'/Independent examiner remuneration | 8,181 | 4,770 |
Loan interest | 11,375 | 3,025 |
19,556 | 7,795 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Auditors'/Independent examiner remuneration | 8,181 | 4,770 |
Depreciation - owned assets |
8. | 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. |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
9. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
365,398 | 374,942 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Employees |
During the year total remuneration of £66,568 (2022: £63,992) was paid to key management personnel. |
10. | TANGIBLE FIXED ASSETS |
Improvements |
Heritable | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
10. | TANGIBLE FIXED ASSETS - continued |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
The main site owned by the charity was valued by D M Hall as at 10 October 2014 at a value of £550,000. The trustees have however been unable to obtain a reliable allocation of this valuation between investment property and property held for the charity's own operational use and consequently, in accordance with the SORP, the entire property has been accounted for as heritable property within tangible fixed assets, and has been stated at cost less accumulated depreciation and impairment losses. |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Accrued income | 53,992 | 49,538 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 14) |
Trade creditors |
Accruals and deferred income |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 14) | 163,933 |
14. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 18,481 | 18,481 |
Amounts falling between one and two years: |
Other loans - 1-2 years |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Other loans repayable in more than 5 years by instalments | 71,755 | 85,128 |
15. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
16. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Other loans | 48,917 | 56,085 |
Jessica Trust | 111,823 | 122,453 |
160,740 | 178,538 |
Resilient Scotland and The Big Lottery Fund holds a standard security over all and whole the subjects known as and forming Geilsland School. |
17. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 121,714 | 1,696,966 | 1,818,680 | 1,780,027 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) | ( |
) |
Long term liabilities | (145,451 | ) | - | (145,451 | ) | (163,933 | ) |
189,457 | 1,816,977 | 2,006,434 | 2,110,442 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
Beith Trust | (186,758 | ) | (56,088 | ) | - | (242,846 | ) |
Beith Astro | 4,723 | 16,855 | - | 21,578 |
Geilsland | 108,951 | 45,380 | - | 154,331 |
Designated Geilsland - Capital | 132,756 | - | - | 132,756 |
Jessica Trust | 121,168 | - | - | 121,168 |
NAC Employment Support | 401 | 2,069 | - | 2,470 |
181,241 | 8,216 | 189,457 |
Restricted funds |
Town Centre Community Capital Fund | 28,065 | (4,779 | ) | - | 23,286 |
Scottish Land Fund | 383,476 | (21,455 | ) | (1,301 | ) | 360,720 |
Youth Link Scotland | 1,245 | - | - | 1,245 |
Resilient Scotland Ltd - Covid Recovery Fund |
31,997 |
(1,320 |
) |
(2,148 |
) |
28,529 |
Robertson Trust Capital Fund | 85,196 | (5,246 | ) | - | 79,950 |
Big Lottery - Community Led Medium Grant Programme |
2,618 |
(425 |
) |
(1,464 |
) |
729 |
Cashback - Capital | 105,898 | 5,944 | - | 111,842 |
SCVO | 11,866 | (385 | ) | - | 11,481 |
Corey Fund | 17,809 | - | - | 17,809 |
PCF 2016 - Capital | 174 | (58 | ) | - | 116 |
DTAS - Pockets & Pockets Fund | 20,000 | 183 | - | 20,183 |
North Ayrshire Ventures Trust | 8,400 | (400 | ) | - | 8,000 |
Community Food & Health ( Scotland ) | 27 | - | - | 27 |
Ayshire Leader Programme | 124,368 | (5,967 | ) | - | 118,401 |
Scottish Government - Climate Challenge Fund |
68,925 |
(3,282 |
) |
- |
65,643 |
Big Lottery - Growing Community Assets | 594,777 | 11,720 | - | 606,497 |
Scottish Power Energy Networks - Green Economy Fund |
27,465 |
(1,229 |
) |
- |
26,236 |
Viridor - Landfill Communities Fund | 14,136 | (642 | ) | - | 13,494 |
CARES - Energy Main St | 225 | (39 | ) | - | 186 |
North Ayrshire Council - Community Investment Fund |
34,817 |
21,522 |
- |
56,339 |
Scottish Community Alliance | 725 | - | - | 725 |
Scottish Government - Investing in Communities Programme |
11,223 |
7,095 |
- |
18,318 |
North Ayrshire Council - Employment Support |
4,688 |
(4,688 |
) |
- |
- |
CARES - Energy Hut | 631 | - | - | 631 |
Tesco Bags of Help | 500 | (500 | ) | - | - |
Robertson Trust | 6,768 | (6,768 | ) | - | - |
North Ayrhshire Council - Community Investment Fund |
8,192 |
11,160 |
- |
19,352 |
STV Childrens Appeal - Covid-19 Response | 656 | - | - | 656 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | MOVEMENT IN FUNDS - continued |
Foundation Scotland - Community Response, Recovery & Resilience Fund |
2,176 |
(596 |
) |
- |
1,580 |
Big Lottery - Covid-19 Response | 1,711 | (389 | ) | - | 1,322 |
DTAS - Supporting Communities | 7,963 | (4,030 | ) | - | 3,933 |
Scottish Government - Wellbeing fund | 6,313 | 3,327 | - | 9,640 |
Scottish Towns Partnership | 3,200 | - | - | 3,200 |
Scottish Football Partnership Trust | 1,281 | (320 | ) | - | 961 |
EB Scotland Ltd - Scottish Landfill Communities Fund |
19,680 |
(856 |
) |
- |
18,824 |
North Ayrshire Council - Food Systems | 4,283 | (1,233 | ) | - | 3,050 |
Keep Scotland Beautiful - Community Climate Asset Fund |
47,840 |
- |
- |
47,840 |
North Ayrshire Council - Youthwork | 4,000 | - | - | 4,000 |
Suez Communites Trust - Landfill Communites Fund |
29,354 |
(1,247 |
) |
- |
28,107 |
North Ayrshire Council - Garnock Valley Helping Hands |
1,386 |
- |
- |
1,386 |
North Ayrshire Council - Arts and Culture | 400 | - | - | 400 |
Youth Start | 4,317 | 7,719 | - | 12,036 |
STV Childrens Appeal - Winter Appeal | 1,000 | (3,148 | ) | 2,148 | - |
Befriending Networks | 255 | (176 | ) | - | 79 |
NAC Summer of Play | 2,108 | (838 | ) | - | 1,270 |
CAF Resilience | 123,487 | (104,515 | ) | - | 18,972 |
NAC Helping Hands | 467 | (484 | ) | 17 | - |
Mental Health & Well Being Fund | 46,330 | (41,008 | ) | (1,000 | ) | 4,322 |
Energy Saving Trust - E-Bike | 15,683 | (3,921 | ) | - | 11,762 |
Architectural Heritage Fund | - | 3,259 | - | 3,259 |
Arran CVS Helping Hands | 7,100 | (8,100 | ) | 1,000 | - |
National Science Week | 1,000 | (267 | ) | - | 733 |
Valley Voices (Play) | 1,500 | (1,500 | ) | - | - |
Valley Voices (Baby Recycling) | 1,500 | (1,523 | ) | 23 | - |
Kickstart | - | (1,261 | ) | 1,261 | - |
Afterschool Fund | - | (1,464 | ) | 1,464 | - |
Regeneration Community Capital | - | 5,874 | - | 5,874 |
Acorns2Trees | - | 8,511 | - | 8,511 |
Ayr Rural & Islands | - | 19,002 | - | 19,002 |
Repurposing Derel Chapel | - | 16,519 | - | 16,519 |
1,929,201 | (112,224 | ) | 1,816,977 |
TOTAL FUNDS | 2,110,442 | (104,008 | ) | 2,006,434 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
Beith Trust | 75,747 | (131,835 | ) | (56,088 | ) |
Beith Astro | 46,244 | (29,389 | ) | 16,855 |
Geilsland | 164,594 | (119,214 | ) | 45,380 |
NAC Employment Support | 20,829 | (18,760 | ) | 2,069 |
307,414 | (299,198 | ) | 8,216 |
Restricted funds |
Town Centre Community Capital Fund | - | (4,779 | ) | (4,779 | ) |
Scottish Land Fund | - | (21,455 | ) | (21,455 | ) |
Resilient Scotland Ltd - Covid Recovery Fund |
- |
(1,320 |
) |
(1,320 |
) |
Robertson Trust Capital Fund | - | (5,246 | ) | (5,246 | ) |
Big Lottery - Community Led Medium Grant Programme |
- |
(425 |
) |
(425 |
) |
Cashback - Capital | 11,331 | (5,387 | ) | 5,944 |
SCVO | - | (385 | ) | (385 | ) |
PCF 2016 - Capital | - | (58 | ) | (58 | ) |
DTAS - Pockets & Pockets Fund | 10,000 | (9,817 | ) | 183 |
North Ayrshire Ventures Trust | - | (400 | ) | (400 | ) |
Ayshire Leader Programme | 1,563 | (7,530 | ) | (5,967 | ) |
Scottish Government - Climate Challenge Fund |
- |
(3,282 |
) |
(3,282 |
) |
Big Lottery - Growing Community Assets | 42,953 | (31,233 | ) | 11,720 |
Scottish Power Energy Networks - Green Economy Fund |
- |
(1,229 |
) |
(1,229 |
) |
Viridor - Landfill Communities Fund | - | (642 | ) | (642 | ) |
CARES - Energy Main St | - | (39 | ) | (39 | ) |
North Ayrshire Council - Community Investment Fund |
25,581 |
(4,059 |
) |
21,522 |
Scottish Government - Investing in Communities Programme |
98,002 |
(90,907 |
) |
7,095 |
North Ayrshire Council - Employment Support |
- |
(4,688 |
) |
(4,688 |
) |
Tesco Bags of Help | - | (500 | ) | (500 | ) |
Robertson Trust | - | (6,768 | ) | (6,768 | ) |
North Ayrhshire Council - Community Investment Fund |
19,584 |
(8,424 |
) |
11,160 |
Foundation Scotland - Community Response, Recovery & Resilience Fund |
- |
(596 |
) |
(596 |
) |
Big Lottery - Covid-19 Response | - | (389 | ) | (389 | ) |
DTAS - Supporting Communities | - | (4,030 | ) | (4,030 | ) |
Scottish Government - Wellbeing fund | 4,999 | (1,672 | ) | 3,327 |
Scottish Football Partnership Trust | - | (320 | ) | (320 | ) |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | MOVEMENT IN FUNDS - continued |
EB Scotland Ltd - Scottish Landfill Communities Fund |
- |
(856 |
) |
(856 |
) |
North Ayrshire Council - Food Systems | - | (1,233 | ) | (1,233 | ) |
Suez Communites Trust - Landfill Communites Fund |
- |
(1,247 |
) |
(1,247 |
) |
North Ayrshire Council - Arts and Culture | 400 | (400 | ) | - |
Youth Start | 32,999 | (25,280 | ) | 7,719 |
STV Childrens Appeal - Winter Appeal | 3,000 | (6,148 | ) | (3,148 | ) |
Befriending Networks | 2,000 | (2,176 | ) | (176 | ) |
NAC Summer of Play | - | (838 | ) | (838 | ) |
CAF Resilience | 37,859 | (142,374 | ) | (104,515 | ) |
NAC Helping Hands | - | (484 | ) | (484 | ) |
Mental Health & Well Being Fund | - | (41,008 | ) | (41,008 | ) |
Energy Saving Trust - E-Bike | - | (3,921 | ) | (3,921 | ) |
Architectural Heritage Fund | 3,360 | (101 | ) | 3,259 |
Arran CVS Helping Hands | - | (8,100 | ) | (8,100 | ) |
National Science Week | - | (267 | ) | (267 | ) |
Valley Voices (Play) | - | (1,500 | ) | (1,500 | ) |
Valley Voices (Baby Recycling) | - | (1,523 | ) | (1,523 | ) |
Kickstart | 7,326 | (8,587 | ) | (1,261 | ) |
Queen's Platinum Jubilee | 500 | (500 | ) | - |
Afterschool Fund | 8,301 | (9,765 | ) | (1,464 | ) |
Regeneration Community Capital | 6,000 | (126 | ) | 5,874 |
Acorns2Trees | 8,511 | - | 8,511 |
Ayr Rural & Islands | 27,577 | (8,575 | ) | 19,002 |
Repurposing Derel Chapel | 16,662 | (143 | ) | 16,519 |
368,508 | (480,732 | ) | (112,224 | ) |
TOTAL FUNDS | 675,922 | (779,930 | ) | (104,008 | ) |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | 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 |
Beith Trust | (147,413 | ) | (36,946 | ) | (2,399 | ) | (186,758 | ) |
Beith Astro | (19,462 | ) | 24,185 | - | 4,723 |
Geilsland | 81,846 | 27,105 | - | 108,951 |
Designated Geilsland - Capital | 142,484 | (9,728 | ) | - | 132,756 |
Jessica Trust | 121,168 | - | - | 121,168 |
NAC Employment Support | - | 401 | - | 401 |
178,623 | 5,017 | (2,399 | ) | 181,241 |
Restricted funds |
Town Centre Community Capital Fund | 28,065 | - | - | 28,065 |
Scottish Land Fund | 404,931 | (21,455 | ) | - | 383,476 |
Youth Link Scotland | - | 1,245 | - | 1,245 |
Resilient Scotland Ltd - Covid Recovery Fund |
33,000 |
(1,003 |
) |
- |
31,997 |
Robertson Trust Capital Fund | 17,600 | 67,596 | - | 85,196 |
Big Lottery - Community Led Medium Grant Programme |
11,516 |
(9,878 |
) |
980 |
2,618 |
Cashback - Capital | 111,373 | (5,475 | ) | - | 105,898 |
SCVO | - | 11,866 | - | 11,866 |
Corey Fund | 17,809 | - | - | 17,809 |
PCF 2016 - Capital | 261 | (87 | ) | - | 174 |
DTAS - Pockets & Pockets Fund | 14,722 | 5,278 | - | 20,000 |
North Ayrshire Ventures Trust | 8,800 | (400 | ) | - | 8,400 |
Community Food & Health ( Scotland ) | 27 | - | - | 27 |
Ayshire Leader Programme | 130,352 | (5,984 | ) | - | 124,368 |
Scottish Government - Climate Challenge Fund |
72,207 |
(3,282 |
) |
- |
68,925 |
Big Lottery - Growing Community Assets | 551,254 | 43,523 | - | 594,777 |
Scottish Power Energy Networks - Green Economy Fund |
28,675 |
(1,210 |
) |
- |
27,465 |
Viridor - Landfill Communities Fund | 14,778 | (642 | ) | - | 14,136 |
CARES - Energy Main St | 235 | (10 | ) | - | 225 |
North Ayrshire Council - Community Investment Fund |
34,817 |
- |
- |
34,817 |
Chance to Succeed | 7,166 | (7,166 | ) | - | - |
Scottish Community Alliance | 725 | - | - | 725 |
Scottish Government - Investing in Communities Programme |
4,645 |
6,578 |
- |
11,223 |
North Ayrshire Council - Employment Support |
4,688 |
- |
- |
4,688 |
CARES - Energy Hut | 660 | (29 | ) | - | 631 |
Tesco Bags of Help | 1,000 | (500 | ) | - | 500 |
Robertson Trust | 8,532 | (1,764 | ) | - | 6,768 |
North Ayrhshire Council - Community Investment Fund |
2,500 |
5,692 |
- |
8,192 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | MOVEMENT IN FUNDS - continued |
STV Childrens Appeal - Covid-19 Response | 854 | (198 | ) | - | 656 |
Foundation Scotland - Community Response, Recovery & Resilience Fund |
2,901 |
(725 |
) |
- |
2,176 |
Big Lottery - Covid-19 Response | 2,307 | (596 | ) | - | 1,711 |
DTAS - Supporting Communities | 10,521 | (2,558 | ) | - | 7,963 |
Scottish Government - Wellbeing fund | 8,606 | (2,293 | ) | - | 6,313 |
Scottish Towns Partnership | 4,800 | (1,600 | ) | - | 3,200 |
Scottish Football Partnership Trust | 1,708 | (427 | ) | - | 1,281 |
EB Scotland Ltd - Scottish Landfill Communities Fund |
20,536 |
(856 |
) |
- |
19,680 |
North Ayrshire Council - Food Systems | 4,435 | (152 | ) | - | 4,283 |
DTAS - Community Recovery | 10,525 | (10,526 | ) | 1 | - |
NAC Food St Bridgets | - | (1,418 | ) | 1,418 | - |
Keep Scotland Beautiful - Community Climate Asset Fund |
49,920 |
(2,080 |
) |
- |
47,840 |
North Ayrshire Council - Youthwork | 8,000 | (4,000 | ) | - | 4,000 |
Suez Communites Trust - Landfill Communites Fund |
14,963 |
14,391 |
- |
29,354 |
North Ayrshire Council - Garnock Valley Helping Hands |
2,611 |
(1,225 |
) |
- |
1,386 |
North Ayrshire Council - Arts and Culture | 400 | - | - | 400 |
Youth Start | - | 4,317 | - | 4,317 |
STV Childrens Appeal - Winter Appeal | 1,000 | - | - | 1,000 |
Befriending Networks | 960 | (705 | ) | - | 255 |
NAC Summer of Play | - | 2,108 | - | 2,108 |
CAF Resilience | - | 123,487 | - | 123,487 |
NAC Helping Hands | - | 467 | - | 467 |
Mental Health & Well Being Fund | - | 46,330 | - | 46,330 |
Energy Saving Trust - E-Bike | - | 15,683 | - | 15,683 |
Arran CVS Helping Hands | - | 7,100 | - | 7,100 |
National Science Week | - | 1,000 | - | 1,000 |
Valley Voices (Play) | - | 1,500 | - | 1,500 |
Valley Voices (Baby Recycling) | - | 1,500 | - | 1,500 |
1,655,385 | 271,417 | 2,399 | 1,929,201 |
TOTAL FUNDS | 1,834,008 | 276,434 | - | 2,110,442 |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
Beith Trust | 193,273 | (230,219 | ) | (36,946 | ) |
Beith Astro | 45,208 | (21,023 | ) | 24,185 |
Geilsland | 113,072 | (85,967 | ) | 27,105 |
Designated Geilsland - Capital | 9,999 | (19,727 | ) | (9,728 | ) |
NAC Employment Support | 2,051 | (1,650 | ) | 401 |
363,603 | (358,586 | ) | 5,017 |
Restricted funds |
Scottish Land Fund | - | (21,455 | ) | (21,455 | ) |
Youth Link Scotland | 5,000 | (3,755 | ) | 1,245 |
Resilient Scotland Ltd - Covid Recovery Fund |
- |
(1,003 |
) |
(1,003 |
) |
Robertson Trust Capital Fund | 70,500 | (2,904 | ) | 67,596 |
Big Lottery - Community Led Medium Grant Programme |
- |
(9,878 |
) |
(9,878 |
) |
Cashback - Capital | 1 | (5,476 | ) | (5,475 | ) |
SCVO | 83,796 | (71,930 | ) | 11,866 |
PCF 2016 - Capital | - | (87 | ) | (87 | ) |
DTAS - Pockets & Pockets Fund | 9,999 | (4,721 | ) | 5,278 |
North Ayrshire Ventures Trust | - | (400 | ) | (400 | ) |
Ayshire Leader Programme | - | (5,984 | ) | (5,984 | ) |
Scottish Government - Climate Challenge Fund |
- |
(3,282 |
) |
(3,282 |
) |
Big Lottery - Growing Community Assets | 94,812 | (51,289 | ) | 43,523 |
Scottish Power Energy Networks - Green Economy Fund |
- |
(1,210 |
) |
(1,210 |
) |
Viridor - Landfill Communities Fund | - | (642 | ) | (642 | ) |
CARES - Energy Main St | - | (10 | ) | (10 | ) |
Chance to Succeed | - | (7,166 | ) | (7,166 | ) |
Scottish Government - Investing in Communities Programme |
74,799 |
(68,221 |
) |
6,578 |
North Ayrshire Council - Employment Support |
1,563 |
(1,563 |
) |
- |
CARES - Energy Hut | - | (29 | ) | (29 | ) |
Tesco Bags of Help | - | (500 | ) | (500 | ) |
Robertson Trust | 16,000 | (17,764 | ) | (1,764 | ) |
North Ayrhshire Council - Community Investment Fund |
13,500 |
(7,808 |
) |
5,692 |
STV Childrens Appeal - Covid-19 Response | - | (198 | ) | (198 | ) |
Foundation Scotland - Community Response, Recovery & Resilience Fund |
- |
(725 |
) |
(725 |
) |
Big Lottery - Covid-19 Response | - | (596 | ) | (596 | ) |
DTAS - Supporting Communities | - | (2,558 | ) | (2,558 | ) |
Scottish Government - Wellbeing fund | - | (2,293 | ) | (2,293 | ) |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | MOVEMENT IN FUNDS - continued |
Scottish Towns Partnership | - | (1,600 | ) | (1,600 | ) |
Scottish Football Partnership Trust | - | (427 | ) | (427 | ) |
EB Scotland Ltd - Scottish Landfill Communities Fund |
- |
(856 |
) |
(856 |
) |
North Ayrshire Council - Food Systems | 600 | (752 | ) | (152 | ) |
DTAS - Community Recovery | - | (10,526 | ) | (10,526 | ) |
NAC Food St Bridgets | 600 | (2,018 | ) | (1,418 | ) |
Keep Scotland Beautiful - Community Climate Asset Fund |
- |
(2,080 |
) |
(2,080 |
) |
North Ayrshire Council - Youthwork | - | (4,000 | ) | (4,000 | ) |
Suez Communites Trust - Landfill Communites Fund |
15,586 |
(1,195 |
) |
14,391 |
North Ayrshire Council - Garnock Valley Helping Hands |
1,403 |
(2,628 |
) |
(1,225 |
) |
Youth Start | 32,787 | (28,470 | ) | 4,317 |
STV Childrens Appeal - Winter Appeal | 8,000 | (8,000 | ) | - |
Befriending Networks | (1 | ) | (704 | ) | (705 | ) |
Apprenticeship Employer Grant | 10,000 | (10,000 | ) | - |
NAC Summer of Play | 2,200 | (92 | ) | 2,108 |
CAF Resilience | 123,577 | (90 | ) | 123,487 |
NAC Helping Hands | 1,000 | (533 | ) | 467 |
Mental Health & Well Being Fund | 46,330 | - | 46,330 |
Energy Saving Trust - E-Bike | 16,365 | (682 | ) | 15,683 |
Architectural Heritage Fund | 1,440 | (1,440 | ) | - |
Arran CVS Helping Hands | 7,100 | - | 7,100 |
NAC Winter Support | 2,000 | (2,000 | ) | - |
National Science Week | 1,000 | - | 1,000 |
Valley Voices (Play) | 1,500 | - | 1,500 |
Valley Voices (Baby Recycling) | 1,500 | - | 1,500 |
642,957 | (371,540 | ) | 271,417 |
TOTAL FUNDS | 1,006,560 | (730,126 | ) | 276,434 |
During the year, funding from the the Big Lottery -Community Assets was spent on capital assets. The value of the Big Lottery -Community Assets fund as at 31 March 2023 represents the value of these assets. |
Funding from Viridor and Spen Green was spent on capital assets in previous years. The value of these funds as at 31 March 2023 represent the value of these assets. |
The Scottish Land Fund comprises fixed assets held from the purchase of the Geilsland Campus in 2015. |
The funds included in the Designated Geilsland fund is in respect of fixed assets held at the Geilsland campus. |
The funds included within the Community Asset Cladding and Suez Draping funds comprises the additions to the Sportshall at the Geilsland campus in previous years. The balance at 31 March 2023 represents the value of these additions. |
The funds included in Big Lottery Youth Start were grants to fund a music and performance based project that will provide further opportunities for young people. |
Beith Community Development Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
18. | MOVEMENT IN FUNDS - continued |
The North Ayrshire Council Community Investment funds include additions to various capital projects including workshops and the Geilsland campus. |
All funds, restricted and designated, that are identified as Capital represent the sources of funding that have been used to acquire Fixed Assets. |
19. | CAPITAL COMMITMENTS |
2023 | 2022 |
£ | £ |
Contracted but not provided for in the financial statements | 69,846 | - |
20. | RELATED PARTY DISCLOSURES |
There were no related party transactions for the year ended 31 March 2023. |
A wholly owned subsidiary of Beith Community Development Trust, Beith Hive Childcare Ltd, was formed on 27 March 2023. It is a company limited by guarantee and there were no transactions with the company in this financial year. |
21. | ULTIMATE CONTROLLING PARTY |
The trustees are the ultimate controlling party. |
22. | COMPANY LIMITED BY GUARANTEE |
Beith Community Development Trust is a company limited by guarantee in terms of the Companies Act 2006. |