Drumellan Community Association TRUSTEES, REPORT for the flnancial year ended 31 March 2024 Flnancial Revlew The results for the financlal year ale sel out on pago and 8¢tdltion81 notes are provided showing ineome and oxpendilur6 in greater detall. Drumellan Communily Association has sel a rèserves policy which requires reserve5 to be held at a nlnlmum of £20.000 which will ensure that Ihe core acllvlty of the organ15alion could conllnue durfng a period ol unforseen difficully. A properiion of Ihese reserves havg lo be maintained In a readily realisable forrn. Th8 calculation of the requiredlovel of reserygs Is an Inlregral part of the planning. budget and forecast cycle of the settSng. It takes in lo account.. - Risks associated with each stream of income and expenditure being dlfferenl from thal budg8t8d-, - Planned activity levol.. - Commltmenl lo beneflciaries Results and Dlvldends Al Ihe end of Iho financlal year Ihg charSty has assets of £141.104 I2023 - £109.5941 and Ilabiltti8s of £2,47912023 £2.479). The nel assets of the charliy have IncreAsod by £31,510. In accordance wllh the Consttlullon, thè trusto88 rellrg by rolalion and, being eligible, offer themselves for Te-electlon. Compllance wlth Se¢tor-Wid¢ Le9lslatlon and Standard$ The charity eng8ges pro-a¢ilvely wllh legislation, sland8rds and ¢odes whlch aft developed for the so¢tcr. Drumellan Community As50ciallon subscrlbes lo at)d Is compllant wllh Iho followlng,. The Charilles SORP IFRS 1021 ApproY•d by the Boafd of Tru$t••• on 28 August 2024 and 81gnod on Its behalf by.. 8omle Bums Trust John Crooks Tru$t••
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