Charity registration number.. SC004968 Kinross Centre Annual Report and Financial Ststements for the Year Ended 31 March 2024
Kinross Centre Contents Referen and Administrative Details Executive Committ&'s Ret 2to5 Ststsment of Exerutive Committ*'s Reswnsibilities Independent Auditors, Report 7t09 statement of Financial Activities iotoii Balance Sheet 12 Notes to the Financial Statements 13to23
Kinross Centre Reference and Administrative Details Executive Committee Senior Managemert Team Charity Registration Number SC004968 Principal Office 64 High Street Kinr055 KY13 8AW Audltor Morri5 & Young, Ststutory Auditor Chartered Accountants 6 Atholl Crescent PERTh PHI 5JN Pe1
Kinross Centre Executive Committee's Report The financial statements have been wepared in aCcOrdar with NOunr and Rerting by Charities: Statement of Recommended Practtt applicabk to tharities preparing their accounts in accordan with the Finanoal Rep)rbfWJ Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2019) - (Charrts SORP (FRS 102XSecond &diton - (ktthr 2019)). the Charities and Trustee Investmert (Scodand) kt 2005 and the Charities Accounts (Scotland) Regulations 2c( (as amended). Objectives and activities The purFJse of the charty is to promote WeTrd and the tenefft of the inhabitsnts of Kinross-shire and environs without distincknon of wlitcal, religious or other Opin, by association with the l¢xal authorty, voluntsry Organisa and inhabitants in a common effort to advan health care and to provide facilities in the interest of Sla1 welfare, rtion, giJuGltion and leisure time c(cupation with the objects of improvin9 the c(K¥Jitn5 of Ibfe for the gxial inhabttants, especially the aged and disabled. Kinross Centre aims to W0de a rarrfJe of drfferent seTvKes geared towards the needs of the elderly, particularly those who are frail or scoalty isolat&l, within our CrmUnty - which indudes Glenfarg, Scotlandwell, Mayburgh and Blairingone as the outsKle kErimeters. We aim to provKle the meMr5 of the Centre with the optK)rtunty to live indendenuY in their own h(Yn&s for as long as wssible and to feel a valued part of the community by provwjirrfj an adequate e1 of supwrt and care where requirej, with the emthasis on soxial iUSIOn. The Constitution states that the objectives of the Centre are to improve the condibons of the life for the inhabitants of Kinross-shire. e5kxially the aged and disabknl. To this erKI, we woubj strive: To provide a Y4elcc¥ning, safe and home atrTW)sphere in whith members can feel that their nghts chow are being Krted at all bmes and that tly have the opwrtunity to continue to pkiy an actNe part in all aspects of their lives, and in the lrfe of the Day Centre,. Ensure that the rights of the individual to dignty, wiv, th)ice, safety, realising tthntial and equalty and dNersty are maintsined; To build the confKlence trust by maintsinirthj confkkntiality; To imtrn comMunican aThJ relieve s(xial isolation: To be tkx1b in our apprcoch to p&¥le and managwnt; To continually monitor and assvA the needs of ffemters; To provKle rtspite for carers. A programwE of ivits tskes Pl after lurKh as well as the cards and th)minces play&J at every opportunity by our members! Weekly ¥tivities itKiude:_ art dasses, bingo, qutz afternwn, thai chi, indoor curling, balaft and strength dass, siThJirrfJ group, strhae for life walking group, as well as gentle exercise dasses a available for those who feel able. As well as the regular actlt, we also have concerts, tea da, craft dasses and tslks incIling those Conrned with health and safety issues, (efits etc. Day outings and trips are arra1 througjt year. klidaYS for ffEmlHs are al arrangè using own minibus arKI carers. An Intem denominational Church Service takes pla every Wedrv4Jay morning at 10.45 at whKh anyme is We1cc. Paje 2
Kinross Centre Executive Committee's Report Achievements and perfornn The ntre rents a suite of halls krthvn a5 tre Church Centre from the k(al Parish Church. These premises are in the ntre of the High Street with easy ac5 to Icol shops arnl setv1, e.g. Post Offi, dentist, opticon, hairdressers, chemis( gJpernpet, etc. Entrar to the building is ramped with all rwms wheekhair accessible. One large dininglmultipurp)se hall. Or small hall, sitknng room ¥th easy chairs, television etc, laurmlry rcom, kitchen and a Coff bar area to the front whh is open to the gerra1 public for snacks etc. Toilet facilrtEs ind tvdo a&3p1 for di5abledlwheekhair use. Lunch Lunch is Seed at 12 ncon and consists of three courses plus tealcoffee. A choKe is available for the main course and diaktirs have their own drt menu. Arrangerrents can also made for those with SFecial diets or ruirements. All fcoj is ccKJked day on premises by our own crKJks using kxalty sourced prcrfle arKI is of exlrt stsTrJard. The principle fvnding SOU is Perth & Kinross Counol, who provK a grant. This income has however not increased in line with our costs and we are faced year with a growing deficit which diminishes our reserves. Captsl EX[ndr(re is generally financed by donatbons from other charities. In addit¥)n tre charity generates funds from charges for the use of the wtre. Nature ofgoveming thrument Kinross Centre is an unincorFofdted c1¥3rity eststrjished in 1983 and is governed by its constitution. RLrruitn7ent The Executive Committee consisLs of eleven members frcxn a variety of professional backgrounds who meet quarterfy and are responsib for the Strateg direction and tx)IKy of the charity. They a elected by and from memters of Kinross Centre at the Annual General Meeting. The ExecLStive Committee have the Frf)wer to aprKMnt sub-commts, in particular, the Committee that will manage the Centre on a day-to4ay basis. A meM1r of the ExecutNe Committee will elected to art as Convenor of each sub-committee. The ServKe Manager a representstive of Halls Management Committee al sit on the Ccrfnmittee ixrt have rw) votiNJ rights. Induct training of trustee All new Board Memters receive an ind)n pack comprsing the Mgnorandum and Articles of Awiation, a copy of offi of the sCotth Charity Reguk3tor (OSCR) Guidan for Charty Trustees "ActirvJ with care and diliger", the latest finaliE&l COUnts and details cOnrning future plans.
Kinross Centre Executive Committee's Report OrganisatKwHI struLture The scheme of delegation is in pl and day to day resrKJnsibilty for the provision of the selv5 rest with the Seryice Manager. The committ is restKinsIb for ensuring that the tharity delivers the semces Slf and that key EErfomn indicators are met. The Service Manager has snSIbIlity for the day to day operational managewtnt of the Centre, individual suprVision of the staff team and also ensuring that the team continue to devek)p their skills and working prattl in line wrth practi. The Trust5 meet throughout the year to review current oterations. Senr stsff a19) attend these meetings. Any diSCL10n$ atrKsut seth.ng key management personnel remurEration would take pl at these meetiros. Major risks and management of those rlsks The committ& have assessed the major risks to which the charity is exFosed, and are satisfied that systems are in place to mitKJate expKwre to the nk8ior risks. Finanaal review During they year income of £298,887 (2023: £273.348) was received, induding £190,145 (2023: £169,408) donations arKI grants. ExFenditure totalled É301,051 (2023.. £270,399> leaving a defiot of £2,164 (2023.. E2,949 suwus). The was £849 of ca1 expenditure dUrij the year {2023:£5,550) and depwation of £12.021 (2023: £11,850) has been charged. The bank and cash balae at the year was £182,556 (2023: £186,277). Totsl reserves at the erKI of tre year £185,148 (2023: £187,312). The split t*tsveen unrestricted furKls arKI restri funds can be seen at rKte 15. The charity 15 deFendent upon grant finan provKl&l by Perth & Kinross Counal to finan activities, The Executive Committee beliewes that the assets of the charity are ats]uate to fulfil the obligations of the charity. It is the poly of the charity to maintsin its reserves at a thl in order to provRle k)ThJ tem viabilty. Surplus funds a kept on bank (kp)sit. Plans for future periots Aimsandkey obiertives fv fuiUreperlts The charity plans to continue attivitie5 wuined aLw in the fortPKcrfning years. Financial instruments Obiethves andpoli(¥es The charity's activities exFose r( to a number of finaknl risks i11rJ credtt risL cash flow risk afy liquidty risk. PèJe 4
Kinross Centre Executlve Commlttee'5 Report Cash ftow Iru5tees are ConscUS of the aim to retsin suificlent cash resourtrs to meet the Imm&Jiate reqUirnents of the tharty. Credlt rfs* The charity'5 prlnclpal financiol assets are bank balances. The charity has no swjnificant concentratK)n of cr•Jlt rlsk. The credlt risk on liquld funds is limited because the CoUnterpartS are banks wth hlgh cred-ratThjS a551gned by International c¥edlt-ratin9 agencles. In order to malntsin liqUty to ensure that sufflclent funds are avallable for ongK)Ing operallons and future eevelopments, the Charity's liquid fuThls are kept In a comblnatson of bank accounts lo enable It to SeN1 Its everyday financtal rttds. Dlsclosurn of Inforniatlon to audltor Etth member ha5 tsken steps that they ought to have tsken as a member Sn order to make tmsee$ aware of any relevant eudit informatlon arKI to e5tsbli5h that the charty's audltor is aware of that Information. The Executlve Cc¥nmittee confm) that there is no relevant infomation that they know ol and of whKh they know audltor15 unawa. The annual report was apprcNed the Executfve Comrnlttee of the charlty on 6 February 2025 and ignpd on its behalf by.. Treasurer Page 5
Kinross Centre Statement of Executive Committee's Responsibilities The ExecutNe Committee are resFonsible for preparing the ExLrutive Conmittee's Rep)rt and the finanaal ststements in accordan with the United Kingthxn Accounting Stsndards (Unibj Kingdom Generally Accept Accounting Practi) and applicable law and regLtlatKsrs. The law applicable to charities reyuires the Executive Committee to pre financkll statements for each financial year which give a true and fair VEW of the state of affairs of the charity and of the incoming resour5 and application of resour of the charity for that pericd. In preparing these rinancial statements, the Exeojtive Committee are required to: Selt sultae accounting tK)IKies and then apFty ttn corsistenty; observe the metlS wrKipies in Charlknes SORP; make jUdnts and &imates that are reasonable and prert. state whether applble accounting stsndards have been folkmed, subject to any material departur di105ed and explained in the financial siatements; and prepare the financial ststements on the wng corKem basis unless it is inappropfiate to presume that the charity will continue in business. The ExtiVe Conmitt* are resp)nsible for keepirKJ proper accountiry records that dlscl¢)se with reasonable accuracy at any time the finar71 Fosknl of the charity and enable them to ensure that the financial ststements compty with the Charities Trustee Investment (kouand) Act 2CK)5, the Charities Accounts (kotland) RegULan5 21))6 {as amended) and the provisions of the Constitution. The Executive Committee are also resFonsible for safeguardirvJ the assets of the charity and h for tsknng reasonabk steps for the preVenn and detection of fraud and other irregularits"es. Page 6
Kinross Centre Independent Auditorfs Report to the Members of Kinross Centre Oplnlon We have audited the finandal Statennts of Klnross Centre 'chariiV) for the year ended 31 March 2024, whKh comprise the Statement of Financial Attivities, &3lance Shee¢ and Notes to t Finanaal Statements, indLKling a summary of sKJfirfnt accounting rolKies. The financial rekKJrting framework that has been appl in their pparat is applicable law a1 United Kingdom Accountlng Stsndards, cclnprising Charities SORP (FRS 102) and The Financial Reporting Standard applicable in the UK Republlc of Ireland (FRS 102) (United Kingdom Generalty Accepted AccountirrfJ Practi). In our opinion the finanoal ststents. give a true and fair view of the State of the charity's affairs as at 31 March 2024 and of Its results for the year then ended; have been property prepared In acaKdarKe with Untted KInkn7 Gerwally ACpted Accountlng Prattl; and have been ppared In accordarKe wlth the requirements of the Charities arn1 Trustee Investmert (Scotland) Act 2005 aTrJ reguktKin 8 of t Charities Accounts (kodandl Regulations 2006 (as amended). Bas1$ for oplnlon We condurted our audlt in accordan wth Intemal StatKlarts on Auditrng (UK) {ISAs (UK)) and applicable law. Our respjnsibillties under those starKlards are further described in the Auditorfs resFonsibilits for the aLKIrt of the financh31 ststements section of our P)rt. We are Independerst of the charity in accordan wrth the ethical requirements that are rekvant to our audlt of the flnancial statements in the UK, including the FRC'5 Ethical Stsndard, and we have fulfilled our other ethical reSnSIbIlItIeS in accordance with these requirements. We telieve that the alt eviden ¥ have obtsined is suffnt arKI appropriate to provide a basis for our opinK?n. Conclu$lon$ relatlng to goln9 concern We have nothing to repjrt in respert of the folh)wiThJ matters in rdation trj which the ISAS (UK) requlre us to report to you wtkre: the Exlxutive Committee use of the g)ir#J correm ba51s of aca)untiw in tre pparatth of the flnanclal statwnents is not appropriate; or the Executive Committ& have not disdowj in the financial statements any identifi&J material uncertainties that may cast signrfKant chwbt at(Jut the charity's abilty to contlnue to adopt the going conrn basis of accounting for a ¢M1 of at kast te1Ve month5 from the date when the flnancial statements a authorised for is. Other Inforniatlon The EXec1ve Comm6ttee are responsible for the otrer infomiatK)n. The other InfoatiOn comprises the infomiatKJn included in the annual reFQrt. other than the financial statements and our auditorfs FQrt thereon. Our opinvjn on the financial siatements rt cover the other infomation and, expt to the extent otherwise explicrtty statexl in rewrL do not express any fo of assuran coluSn there. Page 7
Kinross Centre Independent Auditor's Report to the Members of Kinross Centre In connection with our audlt of the financial statements, our reskK)nsibility to read the other infomiation and, in doing so, consider whether the other infom)ation is materially incons1Stent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such materral inconsistenaes or apparent material misststements, we are required to deterniine whether there is a materhal misstatement in the financial statements or a material misstatement of the other Information. If, based on the work we have performed, we conclude that there is a materlal mlsstatement of this other information, we are requlr&J to reFort that fact. We have nothing to reF4)rt In thls regard. Matters on whlch we are required to report by exception In the light of our knowledge and understanding of the charity and its environment obtalned In the course of the aud[¢ we have not identified material misststements in the Executive Committee's Report. We have rbothing to reFQrt in respect of the foltowing matters where the Char6ties Accounts {kntland) Regulatlons 2006 las amended) requires U5 to reFQrt to you If, In our opinion: adequate accountlng records have not been kept, or returns adequate for our audot have not been received from branches not vlslted by us, or the financial statements are not in agreement wlth the accountlng records and retums,. or certain dlsclosures of Executive Committee remuneration sFeclfled by law are not made,. or we have not received all the Inf0MtIOn and explanations we requlre for our audit. Responslbllities of Executlve Committee As explained rn0 fully in the Ststement of Executlve Committee's ResrM)nslbllities (set out on page 61, the Executive Committee are reSnsible 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 Executlve Committee detemilne Is necessary to enable the pparatIon of flnanclal statements that are free from materlal mlsstatement, whether due to fraud or error. In preparlng the flnancial ststements, the Executive Committee are responsible for assessing the charity's abllity to continue as a golng COnrn, disclosing, as applicable, matters related to going conrn and uslng the going concem basis of accounting unless the Executive Committee either Intend to Ilquklate the charlty or to ase operations, or have no realistic alternative but to do so. Audltorf5 responsibillties for the audlt of the flnandal statements Our objertlves are to obtain reasonable assurance about whether the financial statements as a whole a free from material misststement, whether due to fraud or error, and to issue an auditor's reFort that includes our opinion. Reasonable assuran is a high level of assuran, but Is not a guarantee that an audit conducted in accordance with ISAS IUKI wlll always detect a material misststement 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 Influen the economic decision5 of users taken on the basis of these financial statements. As part of an audit in accordance with ISAS (UK}, we exercise professlonal Judgement and maintsin profe55ional 5pticISM throughout the audit. Page 8
Kinross Centre Independent Auditor's Report to the Members of Kinross Centre A further descriptlon of our respJn5ibilities for the audit of the financial ststements is locat on the Financial Rewrting Council's webslte at www,frc.org.uklauditorsresponsibilitles. This description forns part of our auditor's rewrt. Use of our report This retKsrt is made solely to the charity's Executlve Committee, a5 a tojy, in accordan wlth 5tion 44 11){cl of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006 las amended). Our work has teen undertaken so that we might state to the Executive Committee those matters we are required to state to the Executive Commlttee in an auditors, repjrt and for no other purpose. To the fullest extent permitted by law, we do not acpt or assume resFonslblllty to anyone other than the charity and its Executlve Commlttee as a by, for our audit work, for this pOrt, or for the opinions we have formed. Morris & Young, Ststutory Auditor Eliglble to act as an auditor in temis of section 1212 of the Companies Act 2006 charte Accountants 6 Atholl Crescent PERTh PHI 5JN 10 February 2025 Page 9
Kinross Centre ststement of Financial Activities for the Year Ended 31 March 2024 Totsl 2024 Total 2023 Income and Endowments from: Donations and legacies other trading activities 171,377 18,768 190,145 108 742 169,408 T¢)tal Income Expendlture on: charitab activities 281693 301051 Totsl ExF*nditure 281693 301051 Net {expenditure)lincome Gross transfers between funds (1,574) (590) (2,164) 2,949 Net movement In funds (270) (1,894) (2,164) 2,949 Recondllatlon of fiinds Total funds broht forward 187 312 Total funds carried forward 15 187 312 Page io
Kinross Centre ststement of Financial Activitles for the Year Ended 31 March 2024 Unrestrlcted Restricted funds funds Total 2023 Note Income and Endowments from: Donations and legacies Other tradlng attivities 148,670 20,738 169,408 Total irorne 252 610 273 348 Expendlture on: Charitsble activities 259 237 270 399 Total expendlture 259 237 270 399 Net lexFenditure)lincome Gross transfers between funds (6,627) 9,576 2,949 Net movement in furKIs (4,777) 7,726 2,949 Reconclllatlon of funds Total funds brought forward Total funds carrled forward 182 513 15 177 736 187 312 All of the charlty's actlvlties derlve from contlnuing operations during the atsjve perlcds. The funds breakdown for 2023 Is shown In note 15. Page 11
lanross Centre (Registration number: SC004968) Balance Sheet as at 31 March 2024 2024 2023 Fixed assets Tangibk assets io 24,757 35,929 Current assets Debtors Cash at bank and In har# li 12 9,545 9,195 186 277 192,101 195,472 Creditors: Amounts falllng due withln one year 13 171921 Trtal assets current liabilltl•s 195,418 207,850 Creditor&' Arnunts falling due aftw mrye than one year 14 Net assets 185 148 187 312 Funds of the charity: Réstricted 7,682 9,576 Unrestred Total funds 185 148 187 312 The financsal statements on pages 10 to 23 were appro by the Execut1* Committee, and authorT=ed for issuc on 5 February 2025 and signed on thg'r behalf by:
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 l Accountin9 pollcles Statsment of complian The financw?I statements have tRen prepared in accordan with Accounting and Rewting by Charities: Ststement of Rec)Mended Practice applicable to charities preparing their accounts in accordan with the Financial Rewrting Stsndard applicab in the UK aThJ Republic of Ireland (FRS 102) (effective l January 2015) (Charrties SORP {FRS 102)), Financkil Rep)rting Standard applicable in the UK arK1 Republic of Ireland {FRS 102), the Charits and Trustee Investrment (ScotlarKI) Act 2005 and the Charities Accounts (Scotiand) Regulations 2CQ6 (as atrended). Basis of preparatk•n Kinross Centre meets the definit)n of a public benefft entity FRS 102. Assets and liabilities are initially reco)gnised at historical cost or transaction value othernise stat&J in the rekvant accounting kx)licy notes. The financial statements are presentoj in SterliThJ (E) aThJ rouThJed to the [areSt £1. The executive comittee consider that there are material urKertainties atout the charity's ability to continue as a wing Caem. Income and endowments Voluntsry income including donatK)ns. grfts. and gTrnts that provide core fundirvj or are of a general nature is recconised Wtrn charity has entitlernent to income, it is probab that the income will be received and the amount can be measured wtth sufficient liabIlity. Voluntary income including (b)natp and grdnts that provhk core fiJThJirNJ or are of a general nature is recojnised where there is entitlement, rtsInty of weipt and the amount can be measured with SUfflent reliabilty. Grants recwvable Grants are reccNJnised when the charity has an entitlemert to the funds and any coThJitions linked to the grants have i*en met. Where FerfOar conditions are attached to the grant and are yet to be met, the income ts recognis&l as a liabilty and induded on the balarKe sheet as deferr&l income to be released. Paje 13
Kinn)ss Centre Notss to the Financial Statements for the Year Ended 31 March 2024 l Accounting poliaes (continued) Deferred IrKome represents annts reCed for future aThl is leaSed to irKoming re9Jurces In FerkJ fc whlch, It has bn recer¥ed. Suth irKome Is onty deferred when: . The donor Splfie5 that the grant or (ts)nat must only be in futu accounting riChs. or - The donor has imp)sed condithms which must be met before the charity has unconditional entitlement. The Executive Committee have taken the deosion to depart from the Charitie5 SORP (FRS 102> in reSt of a donation received in the prewKJus year for a minibus. The IrQme has teen deferrgj to te matched to the depreriatwjn charge and )rK)MiC tenefit of the minibus. The Executlve Comffl¢ttee feel that this treatlnent does not detratt fr(Nn tt aThd falr v6ew of the finandal ststements. other tradlng athvld Shop Income Is rttognised as eamed (that is, as the related or services are wovided). Investrnent Incoff is recognised on a re(eNable basis. Expendlture Liabilities are recojnised as soon as there L8 a kgal or constnthe 0K)n o)mmtting the charity to the exFenditure. Ail exFenditrJre is accounted fw on an xcruals basis and has bn dassified under h&idings that aggregate all costs related to the catewy. Charitable expenditure ccrfnprises costs incurred by the charity in the delrvery of its attivities and servKes for its teneficiaries. It indudes toth costs that can be alhxat&J directly to such activities and those costs of an IndIt natu nessary to SUPFQrt them. Support costs SupFort costs include central functions and have been alknted to actrvity cost categories on a basis consistent with the use of rur. for example, allcKating prOrtY costs by flojr areas, or per capits, stsff costs by the tlme SFnt and other costs by their usage. Governance costs Governance costs include costs of the peparatK examinat#)n of the statutrjry accounts, the costs of the Execubve Committee meetings a1 the cost of any legal a1 to the Executive Committee on governan or constitutional matters. Taxatlon Kinross Centre Is a charrty is exempt from tax on its tharitsbbe activi. Pa9e 14
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 l Accounting lIcIeS (continued) Tangible fixed assets Individual fixed assets cosbng £150. or more are Initial recorded at cosL Depreciation and amortisation Depreciath)n is provhded on tangible fixed assets 9) as to wiite off the cost or valuatky), Itss any lual value, over their extEcted usefvl life as folbws: Asset dass Motor vehicles Fixtures, fittings & equipment Depreciation method and rate 25% straight line basis 20% straight line bas Debtors Other debtors are recognised at the settlewt anTh)unt due. Prepayments are valued at an amount prepaid net of any discounts due. Cash and cash equlvalents Cash and Gish equivalents comprise cash on haThl aThl on dewsfs. Creditors Crojitors are rec(>Jnised where there is a present obligath)n resulbng from a past event that wlll probably re5Lb in the transfer of fvnds to a third party and the amount due to setde the obligation can te measured or estimated reliabty. Cr&litors a nomwlty fnIsed at their setdement amount. Fund structure Unrestricted income funds are gerEral fuThJs that are avaiiatAe for use at the ExeLIrtNe Committee's discretion in furtheran of the objecbves of the chartty. Restricted funds are those funds (h)nated for use for a SFeofic projec¢ the use of whth is restric to that purFQSe. Pensions and other post retirement obligations The charty operates a defined contribution nSIOn scheme whth is a penSn plan under which fixed contributions are paid into a pensk)n fund and the charity has no legal or construttive obligation to pay further contributiors even if the fund ¢kns not hold sUffent assets to pay all empbyees the nefits relatirKJ to employee serVe in the Current arKI prior peric*ls. Contributions to defined contribution plans are reccgnised in the Statement of Financial Activities when they are due. Ef contribution payments exceed the contribution due for seN1, the excess is reccyJn1s as a ppayMent. Pa9e 15
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 l Accountlng pollcles (continued) Flnanclal InstNments The charity only has financial assets and IM?bilit*s of a kind that would qualify as baslc financial Instruments which are reccrfJnised at their transactK)n value and subseqLEntly measured at their settlement value. 2 Income from donations and legacies Unrestrlcted funds Total 2024 Total 2023 fund5 Donatlons and legacie5; Donations from lThYlvhJuals Grants, including capltsl grants; Government grants 48,959 18,768 67,727 46,243 122 418 122 418 123 165 £122,418 of the alw income was recelved by the way of kKal aLrthodty grants (2023: E123,165). Of the total IrKome frLKn donation5 and legac5 for the year ended 31 March 2023, £148,670 was unrestricted and £20,738 was restrlLted. 3 Income from other trndlng actlvltles Unrestrlcted funds General Total 2024 Total 2023 Trading income,. Sales of gcK4J5 a1 serve$ The totsl Income other trading xtivities for the year ended 31 March 2023 was treated as unrestricted. Page 16
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 4 Expendltyre on charltable activities Activity undertaken direcuy Artivity support Total 2024 Total 2023 Operation of a day ntre 301051 £290,011 (2023: £259,231) of the at*)ve expenditure was attributable to unrestricted funds and £11,162 (2023.. £11,162) to restricted funds. 5 Analysis of governance and support costs Support costs allocated to charitable activities Other Administratlon support Costs costs Governance Total 2024 Total 2023 Basis of allocation Time spent & usage Staff costs Operatlon of a day ntre Page 17
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 5 Analysls of governance and support costs (continued) Governance costs funds General Total 2024 Total 2023 Audit fees Audit of the financial statements 6 Net incomlngloutgoing resources Net (outgoing)lincoming resour$ for the year include: 2024 2023 Audit fees Depreciation of fixed assets 4,5 3,300 7 Executlve Committee remuneration and expenses No Executive Committee, nor any persons connected with them, have retrived any MUneratIon from the charity during the year. No Executive Committee members have wived any reimbursed exFenses from the charity during the year. Page 18
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 The aggregate payroll costs were as follows: 2024 2023 staff costs durlng the year were: Wages and salaries Social security costs Pension costs 171,487 7,309 156,784 6,327 181996 165 951 The monthly average numter of persons (induding senior management team) employed by the charity during the year expressed as fvll time equivalents was as foll¢)ws.' 2024 No 2023 No Charitable activities li io 11 {2023 - 10) of the atrx)ve employ participated in the Defined Contribution Pension Schemes. Contributions to the employ* Fension schemes for the year totall £3,200 (2023 - £2,840). The basis of all(xating the pension expense is included at note 5 under stsff costs and have been allc(ated against Untricted funds this year and last. The was no outstsnding liability at the year end. No employee re1Ved emoluments of more than £60,(J)O during the year The total employee benefits of the key management personnel of the charity We £46,287 (2023 - £42,743). Page 19
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 9 Taxation The entity is a registered charity where the trustees consider all Income is recelved from primary purpose tradlng and therefo is exempt from taxation. IOTanglble flxed assets Furnlture and equlpment Motor vehlcles Total Cost At l April 2023 Additions 54,437 849 152,504 206,941 At 31 March 2024 207 790 Depreclatlon At l April 2023 Charge for the year 49,314 121,698 171,012 At 31 March 2024 183 033 Net book value At 31 March 2024 At 31 March 2023 11 Debtors 2024 2023 Other debtor5 12Ca$h and cash equivalents 2024 2023 Cash on hand Cash at bank io 186 267 182 556 182 556 186 277 Page 20
Kinross Centre Notes to the Financial Ststements for the Year Ended 31 March 2024 13 Creditors: amounts falling due within one year 2024 2023 Other tsxation and swal security Accruals Deferred income 2,972 8,2C 2,438 10,845 14Credltors: amounts falling due after one year 2024 2023 Deferred InCc 2024 2023 Resour deferred in the pericrfl Amounts released from previous 30.806 41,074 t)eferred inc(* at year end Page 21
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 15Fund$ Balance at l April 2023 Balance at 31 March 2024 Incoming Resources resources expended Transfers Unrestrlcted funds Unrestricted funds 177,736 280,119 (281,693) 1,304 177,466 Restricted funds Equipment Mini Bus Repairs 3,576 (894) (10,268) 8,196 2,682 10,268 5,000 Totsl restricted funds Total funds 187 312 298 887 301051 185 148 Balance at l April 2022 Balance at 31 March 2023 Incomin9 Resources resources expended Transfers Unrestricted funds General Unrestricted funds 182,513 252,610 (259,237) 1,850 177,736 Restrirted funds Equipment Mini Bus Repairs 1,850 4,470 10,268 1894) {10,268) (1,850) 3,576 Totsl restricted funds Total funds 184 363 273 348 270 399 187 312 Page 22
Kinross Centre Notes to the Financial Statements for the Year Ended 31 March 2024 15 Funds (continued) The specific purp)ses for which the furKIs are to be applied are as follow5: The restricted fund represents donati(y)s $klal l¥ti for re?1[$. the purd)ase of equiFKnent, and a mini bus for use in the Day Centre. The transfer of furKls in the current year repre5ert the release of fvnts from restricted funds to unrestrKted funds as the purFM)se of the restnicted fund has now teen met. This transfer has been agreed by the donor. 16Analysls of net assets between fun¢ts Unrestrlcted funds General Restricted Total funds furKIs 2024 Tangle fixed assets Current assets Currert liabilities Creditor5 over l year 1.537 187,101 (11.172) 23,220 24,757 192,101 (21,440) (10,268) Total net assets fur5 General Restricted Total funds funds 2023 Tangible fixed assets Current assets Cuffent liabilities Creditors over l year 1,547 189.472 (13,283) 34,382 6,0(Xl (10.268) 35,929 195,472 (23,551) Totsl net assets 187 312 17 Related party transactlons There were no latl party tranSaCti(S in the year. Page 23