Lagan District Scouts
Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 38,804 | – | 38,804 | – |
| Charitable activities | 5 | 345 | – | 345 | 265 |
| Other trading activities | 6 | 79,387 | – | 79,387 | 58,480 |
| Investment income | 7 | 236 | – | 236 | 21 |
| -------------------------------- | -------------- | -------------------------------- | ---------------------------- | ||
| Total income | 118,772 | – | 118,772 | 58,766 | |
| ================================ | ============== | ================================ | ============================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 134,620 | 479 | 135,100 | 55,457 |
| -------------------------------- | -------------- | -------------------------------- | ---------------------------- | ||
| Total expenditure | 134,620 | 479 | 135,100 | 55,457 | |
| ================================ | ============== | ================================ | ============================ | ||
| Value of assets transferred from South | |||||
| Belfast District Scout Council | 10 | (226,528) | – | (226,528) | – |
| -------------------------------- | -------------- | -------------------------------- | ---------------------------- | ||
| Net income and net movement in funds | 210,680 | (479) | 210,200 | 3,309 | |
| ================================ | ============== | ================================ | ============================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 121,862 | 479 | 122,341 | 119,032 | |
| -------------------------------- | -------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 332,542 | – | 332,542 | 122,341 | |
| ================================ | ============== | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 3 to 11 form part of these financial statements.
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Lagan District Scouts
Statement of Financial Position
31 March 2024
| 31 | March 2024 | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 15 | 190,136 | 61,779 | |
| Current assets | ||||
| Cash at bank and in hand | 142,405 | 60,562 | ||
| -------------------------------- | ---------------------------- | |||
| Net current assets | 142,405 | 60,562 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 332,541 | 122,341 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Restricted funds | – | 479 | ||
| Unrestricted funds | 332,542 | 121,862 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 17 | 332,542 | 122,341 | |
| ================================ | ================================ |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Norman Richard McKee District Commissioner - Lagan District
The notes on pages 3 to 11 form part of these financial statements.
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Lagan District Scouts
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is Ardnavelley Scout Activity Centre, 109 Old Milltown Road, Belfast, BT8 7SP.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Lagan District Scouts
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
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Lagan District Scouts
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings - 2% straight line Equipment - 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
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Lagan District Scouts
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Financial instruments (continued)
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
During the year ended the following income was received:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Subscriptions | 38,654 | – |
| Donations | 150 | – |
| ---------------------------- | -------------- | |
| 38,804 | – | |
| ============================ | ============== |
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Lagan District Scouts
Notes to the Financial Statements (continued)
Year ended 31 March 2024
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Sundry income | 345 | 345 | – | – | |
| Fundraising activities and Events | – | – | 265 | 265 | |
| -------------- | -------------- | -------------- | -------------- | ||
| 345 | 345 | 265 | 265 | ||
| ============== | ============== | ============== | ============== | ||
| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| AV Walk Income | 1,348 | 1,348 | 603 | 603 | |
| Hall Lettings and Camp Fees | 74,390 | 74,390 | 57,877 | 57,877 | |
| Scout Hall rental | 3,649 | 3,649 | – | – | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 79,387 | 79,387 | 58,480 | 58,480 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 236 | 236 | 21 | 21 | |
| ============== | ============== | ============== | ============== | ||
| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Ardnavalley Scout Activity Centre | 96,925 | 479 | 97,404 | ||
| South Belfast District Scout Council - | subscriptions | 37,695 | – | 37,696 | |
| -------------------------------- | -------------- | -------------------------------- | |||
| 134,620 | 479 | 135,100 | |||
| ================================ | ============== | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Ardnavalley Scout Activity Centre | 54,978 | 479 | 55,457 | ||
| South Belfast District Scout Council - | subscriptions | – | – | – | |
| ---------------------------- | -------------- | ---------------------------- | |||
| 54,978 | 479 | 55,457 | |||
| ============================ | ============== | ============================ |
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Lagan District Scouts
Notes to the Financial Statements (continued)
Year ended 31 March 2024
9. Expenditure on charitable activities by activity type
| Activities | |||
|---|---|---|---|
| undertaken | Total funds | Total fund | |
| directly | 2024 | 2023 | |
| £ | £ | £ | |
| Ardnavalley Scout Activity Centre | 97,404 | 97,404 | 55,457 |
| South Belfast District Scout Council - subscriptions | 37,696 | 37,696 | – |
| -------------------------------- | -------------------------------- | ---------------------------- | |
| 135,100 | 135,100 | 55,457 | |
| ================================ | ================================ | ============================ |
10. Value of assets transferred from South Belfast District Scout Council
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Transfer of assets from South Belfast | ||||
| District Council | 226,528 | 226,528 | – | – |
| ================================ | ================================ | ============== | ============== |
As part of the merger of South Belfast District Scout Council and South East Belfast District Scout Council to form Lagan District Scouts, South Belfast District Scout Council transferred its assets to South East Belfast District Scout Council on 1 October 2023. South East Belfast District Scout Council also changed its name as a registered charity to Lagan District Scouts. This comprised freehold property valued at £130,000 (see Note 15) and cash assets of £96,528. South Belfast District Scout Council will be wound-up and cease to be a registered charity.
| 11. | Net income | ||
|---|---|---|---|
| Net income is stated after charging/(crediting): | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 1,643 | 3,008 | |
| ======================= | ======================= | ||
| 12. | Independent examination fees | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | – | 2,292 | |
| ============== | ======================= |
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Lagan District Scouts
Notes to the Financial Statements (continued)
Year ended 31 March 2024
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 13,817 | 13,204 |
| Employer contributions to pension plans | 304 | – |
| ---------------------------- | ---------------------------- | |
| 14,121 | 13,204 | |
| ============================ | ============================ | |
| The average head count of employees during the year was 1 (2023: 1). The average | number of | |
| full-time equivalent employees during the year is analysed as follows: | ||
| 2024 | 2023 | |
| No. | No. | |
| Number of other staff - caretaker | 1 | 1 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Tangible fixed assets
| Long | ||||
|---|---|---|---|---|
| Freehold | leasehold | Fixtures and | ||
| property | property | fittings | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2023 | 207,749 | 1,082 | 45,025 | 253,856 |
| Additions | 130,000 | – | – | 130,000 |
| -------------------------------- | ----------------------- | ---------------------------- | -------------------------------- | |
| At 31 March 2024 | 337,749 | 1,082 | 45,025 | 383,856 |
| ================================ | ======================= | ============================ | ================================ | |
| Depreciation | ||||
| At 1 April 2023 | 149,001 | – | 43,076 | 192,077 |
| Charge for the year | – | – | 1,643 | 1,643 |
| -------------------------------- | ----------------------- | ---------------------------- | -------------------------------- | |
| At 31 March 2024 | 149,001 | – | 44,719 | 193,720 |
| ================================ | ======================= | ============================ | ================================ | |
| Carrying amount | ||||
| At 31 March 2024 | 188,748 | 1,082 | 306 | 190,136 |
| ================================ | ======================= | ============================ | ================================ | |
| At 31 March 2023 | 58,748 | 1,082 | 1,949 | 61,779 |
| ================================ | ======================= | ============================ | ================================ |
During the year, property at 1a Kimberley Drive, Belfast, was transferred to Lagan District Scouts under the terms of the transfer with South Belfast District Scout Council. The property was independently valued and the market value of £130,000 is shown above.
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £304 (2023: £Nil).
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Lagan District Scouts
Notes to the Financial Statements (continued)
Year ended 31 March 2024
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2023 | Income | Expenditure | Transfer | 24 | |
| £ | £ | £ | £ | £ | |
| ASAC Revenue Fund | (61,563) | 118,772 | (134,620) | 226,528 | 149,117 |
| ASAC Capital | |||||
| Development Fund | 178,407 | – | – | – | 178,407 |
| SEBDSC Revenue | |||||
| Fund | 5,018 | – | – | – | 5,018 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 121,862 | 118,772 | (134,620) | 226,528 | 332,542 | |
| ================================ | ================================ | ================================ | ================================ | ================================ | |
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2022 | Income | Expenditure | Transfer | 23 | |
| £ | £ | £ | £ | £ | |
| ASAC Revenue Fund | (65,351) | 58,766 | (54,978) | – | (61,563) |
| ASAC Capital | |||||
| Development Fund | 178,407 | – | – | – | 178,407 |
| SEBDSC Revenue | |||||
| Fund | 5,018 | – | – | – | 5,018 |
| -------------------------------- | ---------------------------- | ---------------------------- | -------------- | -------------------------------- | |
| 118,074 | 58,766 | (54,978) | – | 121,862 | |
| ================================ | ============================ | ============================ | ============== | ================================ | |
| Restricted funds | |||||
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2023 | Income | Expenditure | Transfer | 24 | |
| £ | £ | £ | £ | £ | |
| Grant aided equipment | 479 | – | (479) | – | – |
| ============== | ============== | ============== | ============== | ============== | |
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2022 | Income | Expenditure | Transfer | 23 | |
| £ | £ | £ | £ | £ | |
| Grant aided equipment | 958 | – | (479) | – | 479 |
| ============== | ============== | ============== | ============== | ============== |
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Lagan District Scouts
Notes to the Financial Statements (continued)
Year ended 31 March 2024
18. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 190,136 | – | 190,136 |
| Current assets | 142,405 | – | 142,405 |
| -------------------------------- | -------------- | -------------------------------- | |
| Net assets | 332,541 | – | 332,541 |
| ================================ | ============== | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 61,300 | 479 | 61,779 |
| Current assets | 60,562 | – | 60,562 |
| -------------------------------- | -------------- | -------------------------------- | |
| Net assets | 121,862 | 479 | 122,341 |
| ================================ | ============== | ================================ |
19. Financial instruments
Where reduced disclosures are applied, disclosures from the Companies Act 2006 still need to be made regarding the fair value of the instruments in each category and the changes in value recognised in profit and loss. Disclosures of the significant assumptions underlying the valuation models and techniques used, and extent and nature of derivative instruments are also required.
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