Charfty rogl8tratlon numb8r SC010828 (Scotlandl THE COSMOS COMMUNITY CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE COSMOS COMMUNITY CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustsos Ch•rlty nurnber IScotl•nd} SC010828 prI1PaI addr•*• Abbey Walk St Andrews File KY16 9LB Indepondent oximlntr Findlays, Chartered Accounlanls 11 Dudhope Terrace Dundee DD3 6TS
THE COSMOS COMMUNITY CENTRE CONTENTS Pag• Tru$tees' report Independent examlnerfs report Statement of financial acts'v.¥s BalanGe sheet Not9¥ lo Ihe flnanclal statèménts 6-17
THE COSMOS COMMUNITY CENTRE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial slalemgnls for Ihtr year ended 31 March 2024. The financial statements have been prepared in a¢cor<lance with the occounb'ng policies jet out in note 1 to the financial statements and comply with the C8ntre's goveming document, the Charllies and Truglee Investment {Scollandl Act 2005, the Charities At¢ounls (Scollandl Regulations 2006 las amended) and "Ac¢ounbng and Reporting by Charilies.. Statement of Recommended Practice applicable to charities prepanng their accounts in accordance with the Financial Reporting Standard appliGable in Ihe UK and Republlc of Ireland IFRS 102) {effedive 1 January 20191" ObJ•ctlv•8 and actlvltl•g The objects of the Centre are lo promote the benefit of the inhabitants of Sl Andrews and as much of the surrounding area as possible by.. giving guidance lo or9anisalions and Community groups associating the community, voluntary organi5alions and local authorities in a common effort lo advance community education and lo prgvide facilities In the Interest ol soclal welfare for recreation and leisure tirne occupation of the community and to act as an advisory body in the piovi5ion ol such fa¢ililies. making and encouraging provision lo help an¢J educate people through Iheii leisure lime activities lo develop their spiritual, mental and physical capabilitie8 to enable them lo grow to full maluiity ag reSpOnbIe individual8 and members of Soclèly and that their conditions of life may be improved. 1051ering a community splril lor the achievement ol these and such other purpo$e8 as may by kiw be de•med lo be charilable to establish or to secure the establishment of a Community Centre dn(g lo mainlaln and manage, or lo co- operate with any local statutory authority or aulhorities In the maintenance and management ol such a Centre lor activities promoted by the Organi5alion and ils conslituenl bodies in the furth¢rance ol Ihe above obje¢ls or any of them The Drganisalion shall be non dlscdminalory in politics and lIgIOn. The organisalion and ils ¢onsliluent bodies Shall have power to affi'liate lo National Associations and other organisalion whole obje¢l$ shall be consistent with Ihoge sel out above. Achievernents thnd p•rforrnanc? All ag&$ within the local area benefit, as the Centre provldes an outlet where they engage and Interact with the wider community, Ihiough various ¥o¢ial and physical activity group programmes. The Centre provides disabled access facilitses attracting vulnerable groups, support and training organisations, in addibon 10 tre hire ol the sports hall, Meeting and function rooms, as well as th• community rnini bus. A major Centre prtsjecl i% the after $chool and holiday club which runs lor 50 weeks of the year to enable parents lo continue in employment, further edu¢ation or tralnin9. Fln•nclal revlgw The results for the period are s81 out In the 3tt4chod acwunls. During the year the charity conl'nued to provid• servlces lo the community. The trustees aim to maintain reserves at a level thal equates lo approximately 12 rnonlhs of Co$mos Centre expenditure. The Iruslees consider that this level will provide sufficienl fvnd5 to maintain Centre a¢livtties and ensure that 5UPPOrt and governan¢e costs awe covered. The Iruslees consider that a level of 12 months is sufficient given the y11 established funding pattern for the Gharity. This policy will be reviewed ay required lo ensure adequate fvnding Toquirement$ for Cosmos Centre are met. Al the year end the charity holds £179,86712023 - £218,958) in reserves. of which £141,561 is unrestricted and of this free reserves not invested in fixed asset5 or de$ign8ted amount lo £134,42312023 - £167,246). Amounts degignated totalled £O12023- £6.0001. The charity's principal funding sourees are Fife Council and The Provost Tulloch FurKI on an ongoirvJ basis, however aoditional funding is secured from other sources on an ongoing basis.
THE COSMOS COMMUNITY CENTRE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees has assessed the major rlsks to whlch the Centre is exposed, and are satisfied that systems are in place lo miligale exposu lo the major ri8k8. Structur•. gov•rnanc• •nd man4g•m•nt The Cosmos Centre is governed by ils COnstr(ut. The Centrè has recently reglstered as on incorporalgd charity in SGoUand and the Management Commrttee are 8hown on page 1. Thg IriJ%lee8 who sprvpd dijrin ear and u to the date of signature of Ihe financi81 slalement$ were.. IResKJned 20 August 2024) (Resigned 24 July 20241 (Appointed 19 June 2023 and resigned 19 FebNary 20241 (Deceased 1 Novomber 2023) (Appointed 16 September 2024) (Appointed 18 September 2024) The Tru8tees are elected al the AGM, and are recruited on an 4dho¢ bas18 whèn requlred or vknen potenllal Truslees are Identified. An induction folder Is In place to as51sI new Trustees In Ihelr role. The Tnjslees ar• responsibk for approving poll¢les and the direction of the charity. The Chair new Chair wi retired 20 Augu812024. The IAce Ch41r. be appointed. s acting Chair until the AGM vth•n Commlttee Memberj Serve for 1 year bwth r•-•le¢tlon r•qulred thereafter, Th• Management Commlttee may fill ca8ual vac4ncle8 ari8ing with th• r•qulr¢mont for raiifi¢olton at the next en8ulng Annual Ganeral Meeting. The M)nageml Commltt•e, who meet not less than 10 times per annum, admi running of th• Centre w05 undcrtakcn b. Centre Manager), Administrator) an jJ2rt-Iime Admin Assistanll. Th• C•nlre P a ,eam of chlld¢are staff who run chool and Hollday Club and H Small team of caretskin9lcleaning Staff. ay lo day en er Golng con¢•rn The Centfe usage remains lower than yfrcovid ve1$, but 1$ beglnning to $08 a Btgady incr•as• in fooffall over thbs last year wilh sorne groups returning and new ones starting up. The Trustees art pr&active in prcrfnotsng the Centre'5 facilitses lo the local and surroundlng areas. whble contbnuing lo support essentlal groups which 8re eJtsbfi3hed for the benefit of the wellbeing and heallh of the community. The Tru$l&es hav& con8oquenlly been unable lo pres•rv8 the previou8 level8 of reserves. bul note thal their policy has ensured there are sufficient re$erve$ and $o¢ured funding th•1 the Centre can continue as a going ¢on¢ern for the foreseeable lulure. ol Trustees. Dated.. 18 November 2024
THE COSMOS COMMUNITY CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE COSMOS COMMUNITY CENTRE I report on the financial statements ol the Centre for the year endod 31 March 2024. which are set OLrt on page$ 4 to 17. This report 1$ made solely to the charity's Trustees. a5 a body. in accordan with RegLtrlation 11 of the charitS Accounts (Scotland) Regulalions 2006. My wotk has been undertaken so that I mi9hl $tsle lo the charity's Trustees those matteT5 1 am requirtsd lo state lo them in an Indepgndenl Examiner's Report and for no other purpose. To the fulle$l extent permitted by law. I do not 4¢c8pl or assume responsibility lo anyone other than the Gharity and the ch8rty'$ Tfuslees as a body, lor my work or for this report. Re8poctlv• rn$pon$lbllltl•8 Of trugtt•$ and examlngr The Cenlre's Iruslees are responsible for the preparation of Ihe financial slalements in accordanc8 with the terms ol the Charities and Trustee Inveslmgnt5 Iscollandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2006 The char¢ty'6 Iruslegs consider that the audit fequiremenl ol Regulation 1011llal lo Icl ol the 2006 Accounts Regulations does not apply It Is my responsibility lo ex8mine the financial statements a$ required under section 4411 Ilcl ol the Act and lo slate whether particular mallers have come to my attention. BasS$ of Indèp•nd•nt 8x•mSn•t8 •tst•m•nt My txominalion 18 carried out in accordance wlh Regulallon 11 of the 2008 Accounts Regulations. An examination includes a review of the aoUntIng record5 kept by Ihe ¢harily and a comparison of the financial slalemenls presented wilh Ih05e records. 11 a150 In¢ludes consideralitsn ol any unusual items or disdosures in ttte financial stalernenls, and seek5 explanations from the trustees concerning any such matters Th• protsdures un(Jerldkei) iiol provide all Ihc evidence thai would be required In an alidil and conseqLJenlly I do not express an audit opinion on the view given by the financial statements. Indepèndent •xarnln•r'5 St•tsm•nt In connection with my exam1nation, no matter has come lo my attenlDn', (al which gives me reasonable Cause to believe that in any material respect the requiremenls.. to keep accounling records In a¢cordan¢e wilh section 44111 lal of the 2005 Act and Regulation 4 cé Ihe 2006 Accounts Regulalions., and (111 lo prepare financial slaltsmenlg which accord with thè a¢counlin9 records comply wrth Regulation 8 01 the 2006 Ac¢ounl$ R¢gulations'. have not been mel or Ibl lo which, in my opinion, attention ghould be drawn in ord•r lo enable a proper understanding of 11 nAn¢ial statements to be reached. ays, Chartèred AGcounianls 11 Oudhop? Terrace Dundee DD3 6TS Dated.. 18 November 2024
THE COSMOS COMMUNITY CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unr•strlct•d Rvtrl¢tsd lund8 funds 2024 2024 Tolal Unr••trlct•d R•strf¢t•d fund8 fund8 2023 2023 T¢tal 2024 2023 Nots¥ Income from: Donations and legacies Charitable activities Other tradlng actlvllleg Investrnents 33,963 123,377 39,029 3,851 43,869 77,832 123,377 39,029 3,851 32.747 88,530 40,541 1,980 44,061 76,808 88,530 40,541 1,980 Totsl Incom• 200,220 43,869 244,089 161,798 44,061 205,859 Exp•nditur• on: Charitable activitiès 236,062 47.118 283, 180 180,fj93 63,635 244,328 Tol•l •xp•ndltur• 236,082 47,118 283,180 180,693 63,635 244,328 N•1 •xp•ndltur• 135,8421 13,2491 139,091) 118,8951 119,5741 138,4691 Transfers bethen fundi 1,758 11,7S8} N•t mov•m•nt In lund• (34,0841 IS.007> 139,091) 118,895) 119,5741 {38,469) R•conclllatlon of fundj: Fund balances at 1 Aprfl 2023 175,645 43,313 218,958 194,540 02,887 257,427 Fund balanc•s at 31 March 2024 141,581 38.306 179,867 175,e45 43,313 218.956 The statement of financial activities includes all galns and losses recognised in the yoar. All InM9 and 8xpendittJre derive from continuing activities, The notes on pages 6 10 17 lom part ol thes8 financial itatèments.
THE COSMOS COMMUNITY CENTRE BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Not•s Flx•d #880ts Tangiblg ¥ssel8 13 31,501 37.062 Current assetg Debtors Cash al bank and In hand 14 19,840 149,345 13.153 190.178 168,985 203,331 Credltoys: amounts falllng du• wlthln yoar 16 120.6191 121,4351 Net current assets 148.366 181,896 Total assets 1988 curront Ilabi15tiè$ 179.867 218,958 N•t a*s•ts oxcludlng pgnslon Ilablllty 179,867 218,958 The funds of the Centr& Reslricled Income funds Unreslricled funds 17 38.306 141.561 43.313 175,645 179,867 218,958 Thè notes on pages 6 10 17 form part of these financial $tatement$_ Th• financial 81al&menl$ wero approved èy the tru¥l¢e8 On 18 November 2024
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles 1.1 Accountlng conv•ntlon The financial statements have been prepared in accordance with the Cenlre's goveming document, tre CharS1ies and Trustee Investment Iscollandl Act 2005, the Chafith'es Accounts IScotlan¢J} Regulatsons 2006 {as amended} and "Ac¢o(tnling and Reporting by Chafili8s. Slatemenl ol R0Mmended Pra¢li¢e applicab lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019)" The Centre 1$ a Public Benefit Enlily as dgfinoil by FRS 102. The Centr¢ has taken advantage of the provl8)n$ in the SORP for charttle$ apptylng FRS 102 Update Bulletin I not lo prepare a Slalernent of Cash Flo. The ffinandal 51alemen15 arg prepargd in sterling, which is the functlonal currency of the Centre. Mortelary amounts in these finanGial stslemenls are founded lo the nearest £. 1.2 Golng concom Al the tlme of apprOTh9 the finan¢lal stolements, the Iruslees have a re8Jon8ble expecl•lion th81 the Centre has adequate resources lo continue in operational existence for the foreseeable future. Thus th¢ trusl•es ¢ontinug lo adtspl th• golng Concèrn b#iJ of 0¢¢ountsng prep•flng Ihe fingn¢i•l Jt•lement8. 1.3 Charlthbh fund• Unroslrlcled fund8 are available lor u88 al the dlscrntlon of th& trust•e$ in furtherance of thelr charllable obleGtives. Designated funds Gompri¥e funds whith have been set aside al the dlscfellon of the Iruslees for 8cifiC purposes. The purposes and u$e¥ of the designated fundj •r8 sel out in Ihe notes to the ffinancial 8talemenl8. Restrfcted fund5 are subJeEI lo speclffic condllion5 by donors or grantors as to how they may be used, The purposes and u8es of the re8Cted funds are sel out in the notes lo the financial stalementS. Endowm•nl funds are sublecl to SFecMc condSllons by donor8 th81 the capital mu$1 be maintained by the Centre. 1A Incom• Income18 recognlsed when the Centre Is legally enlllled toll after any perIorMan cond'0n$ have been met. the amounts Gan be measur?d rellably, and tt Is probable that Incorne will be reIed. Cash donations are recognlsed on receipt. Other donatlons are recognised once the Contre has bgen notified of the donatson. unless perfofman¢e conditions qUIre deferral of the amount. Income tax recoverable In relalion lo donations received under Gift Aid or deeds tsf covenanl 15 recogni3ed at the lime of the donatn. Lega¢ies are reco9nised on receipt or othewse if the Centre has been notified of an impending distributn, the amount 1$ known, and receipt is expected. If the amount is not known. the legaGy is treated as a continggnt a$sel.
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollelo4 (Continuod) 1.5 Expendltur• Eypendilure is recognise¢Y once there is a legal or eonslfu¢liv$ obligation to transfer economic benefil lo a third porty. it Is probable that a Iran8feT of economic benefits will be fequired In sèttlement, and the amount of the obligation Can be measured reliably. Expenditure classified by aetwlty. The costs of each activity are Made up ol the total of direct costs and sharad costs, including support costs invol¥ed in undertaking each activity. Direct costs attrIbutae to a singlè adivity are allocated diie¢lly to that activity. Shared costs whi¢h contribute lo more than one aCtltY and support cos15 which are not attributable lo è single aclivily are apportioned beN¥een those aclivilie5 Qn a basis consislenl with the use ol resoufces. Central staff costs are allocated on Ihe basis ol lime spent, and depreciation charges are allocated on the portion ol the a55el's use. Expenditure is recognised once th8r8 Is a legal or conslruclive obligatign lo Iransler ecr)nomic benefit to third party, il is Pfobable that a transfer ol econombc benefits will be required in $eltlern8nt and the amounl ol the obligation can be measured rellably. Expendilufe is classified by aclivty. The costs of each aLtivrty afe made up ol Ihe loial of direct cosls and shared costs, including support costs inv¢lved in undertaking each activity. Direct costs attributable lo a gingle activity are allxaled directly to that activity Shared costs which contribute to more than one aetivity and support costs which are not attributablè lo a single activity are apportioned between those acliwilies on a basis eonsistenl with the use ol resource5. Central staff costs ore allocated on the basis ol time spent. and depTeclallon charges allocated on the portion ol the ass8t'S Use. Governance costs are those incurred in connection with 8drninislralion of the charity and Compliance with conslitulional and slalulory requirements. Charitable activities and Governance costs are costs incuTred on the charty's educational operatn3, including support C051s and c051s relating lo Ihe goveman¢e of the ¢horily apPortned to charitable activities. 1.6 Tanglbl• flx•d 4s8•ts Tangible fixed assets are initially measured at cost and subsequently m?a3ured at or valuation, nel ol ¢Jepre¢iation and any Impairmeni105ses. Depre¢ialion is recognised so a$ to write off Ihe cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings Computers Molor vehicles 15% Re(Juclng balance 3 years $traighl line 15% Reducing balance The gain or loss arising on the disposal of an asset Is determined as the dbfference bets¥een the sale proceeds and the carrying value of the asset. and is recognised in the slalemenl of financial aclivities. 1.7 Impaimiant ol fixed assets At each reporting periijd end dale, the Centre reviews Ihg carying amounts of ils iangible assets to determine whether there is any indication that those a68gts have suffered an impairment loss. If any such indrallon gxisl$. the recoverable amount of the asset is estimated older to cletermine the extent of the impairment loss (if any) 1.8 Cash and ¢sh •qulvalonts Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments wth original malurilies of three rnonlhs or less. and bank oveidrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng polkles ICt)ntlnued 1.9 Financial In•trum•nts The charity only has financial 8ssel8 and financial liabilit188 of a kind that qualify as basic financial instruments. Basic financial inslnJment$ are inrtially recognised al transaction value and subseqUenY measured al their settlement value wlh the excepkn.on of bank loans which are subsequently measured at am(KtI8ed cost uslng the effeckn.ve interest method. 1.10 Employ0• boneffts Thè cost of any unused holiday 8ntlllement Is recogniséd In the ponod In which Ihg employee's 5ervlc8s ar received. Temiinotson benefits gre reGognised immediolely 99 on expense en the Centre i¥ demon$trably commthed lo Iwminate the employment of an émpbytse or to providè termination beneffls. 1.11 Rotlr•m•nt bon•llt• Payments lo defined contribution retirement benafil 8chem88 •re char9od as an expen•¢ as they fall due. CrltlG•l a¢¢ounUng ••llmat•• •nd ludg•mgnt• In Ihe application of the Cenlre's accounting polic8, the Iruslees are requSred to make ludgemenl8, eslimales and ajsumplions about Ihe ¢Jrrying amount of assets and liabilities that ar• not readily apparent from other •ourc¢s. The g$limale$ Idgpr¢¢iallon. deforred income 8nd accruals) ¥nd agsociated assurnplions are based on historical experionc8 and other factors Ihat are considerod to bo rolovanl. Actual ro$ulls may differ from these èstimatès. Th¢ estimates and undedying aJJumptionJ gre reviewed on an ongoing bas18. Revl8v)ns lo accounting eJtimale¥ are recognised in the period in which the estimate is ViSed where the revision affects cffjly that period. or in the period of thè reviiion and fuknr¢ p•ri¢xl8 whero Ihg rovision affect8 both current and futur• perlods. K•y •ourc•• of •¥tlm•tlon uncertalnty Doprn¢lthtlon T•ngible fixed assets are flepre¢ioled *)v•r a period to reflect their estimated usefiJl lives. The applicabllity of the assumed live$ is r¢vi¢wod annualty, taking into ac¢ounl laclois 8uch as physical condition, wnainlenance and ob501escence. Glfts In Klnd The charity roctlVè6 rent free of charge from the Univgrsty of StAndrew8 and therefore a gift in kind has been ogni8ed 4t an egtlmats based on mark81 ral9$. Frfe Council second a member of thglr staff lo ¥upport Cosmos Comrnunbty Centre and the value of Ihls ilme Is esllmated.
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Oonatlon$ and l•gacle8 Unr•strlct•d R•strlct•d fund• fund8 Total Unre$lrict8d funds Restri¢l&d fvnds Total 2024 2024 2024 2023 2023 2023 Donations and gifts Grants 2,189 31,774 37,369 6,500 39,558 38.274 2,486 3Q,261 38,161 5,900 40,647 36,161 33,963 43.869 77,832 32,747 44,061 78,808 Donatlonfj ond 91ftg Sl Androws University & Fife Council Igift In kindl The St Andrews Ball Committee Provost Tulloch Small donations Kale Kennedy Clu 24,369 24,369 24,161 24,161 1,250 1,250 13,000 1,236 1,000 13,000 13.000 2,189 13,000 2.189 1,236 1,000 2.189 37.369 39,558 2,486 38.161 40,647 Grants roGglvabl• Fife Council University of Sl Andrews Eat & Heal Transport Grant Rufal Poverty Aclion 31,774 31,774 30.261 30.261 1.900 4,000 1,900 4,000 4,000 2.500 4.000 2.500 31,774 6,500 38,2T4 30,261 5,900 36,161 In¢om• from ch•rlt•ble a¢llvltl•¥ Unre$trl¢l•d Unr••trlctsd funds funds 2024 2023 Charitabl• actlvltles After school care and holSday club 123,377 86.530
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 otr tradlng actlvitlej Unr••trlctod Unrestricted fvnd¥ Jnds 2024 2023 Coffee Bar Sales Sub¥cription Minlbus Hbre of centre Mèmber fèes Photocopier and pay phon8 Fife Council seiCe charges 827 158 3.727 23.630 39 122 10,526 824 179 3,935 25,922 122 120 9,639 Other tradlng aclb4ltS•1 39,029 40,541 Incom• from Inv••tsn•nt• Unr••trlGt•d Unr••trl¢t•d fund¥ funds 2024 2023 Inlèr8s1 rec8lvable 3,851 1,980
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expondlturo on charltabh actlvltiès Charltablo actlvltl•¥ 2024 Charltabl• acvItI*• 2023 Direct co¥ts Staff Costs Coffee bar expenses Rent and rates Heat and light Repairs and maintenance In$uran¢e Stationery, postage and advertising MSnS bus expenses Dr)nalions Cleaning materials Office telephone TV and other lic8rTrces Aftef School clltb and holiday club Other costs 186,747 405 21,308 18,612 3,388 3,423 1,301 4.008 160.351 372 21,631 14,584 2,459 4,999 1,405 3,726 soo 1,853 1,089 1,581 15,992 2,294 2,506 771 1,275 26,778 2,216 272.736 232,836 Sharo ofsupport and gov•rnance costs (see note 81 Govemance 10,444 11,492 283,180 244,328 Analy•l¥ by fund Unreslriclèd lundg Reslricled fLtnds 236.062 47,118 180,693 63,835 283,180 244,328 SupportcoNts Support Governance Costs costs 2024Support costs Governance osls 2023 Depreciation Independent examiners fee 5,561 5.561 6.401 6,401 3.497 3.497 3,450 3,450 Legal and profes$ion81 1,386 1,386 1,641 1,641 10,444 10,444 11.492 11,492 Govemance ¢ost$ indudes paymenlg lo the independent examiner of £3,49712023- £3.4501 for independent examin•b"on fees.
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 N•t movement In fund8 2024 2023 The net rTKJvemenl in fvnds Is staled after charglngl{cdin9)'. Depreciation of owned tangible fixed a5$ets 5,561 6,401 10 Tru•t••s Nonè of the Iruslees (or any person8 connKt•d wSlh Ih•m} rec•lv•d any remun•ratlon or benefits from the Centre during the year. Employ• The average monlhly number of ernoyees during the y•ar was.. 2024 Numb•r 2023 Number Charllable actlvltl•8 Administraty'on 14 14 Total 17 16 Employm•nt co•ts 2024 2023 Wages and salaries Social security c0515 Other penslon costs 182,744 2,276 1,727 158,100 88 1,363 186.747 160.351 Th•r• w•r• no •mployè•s whts8e annu$l r•mun•ralion ¥Ya8 mor• than £60,000. 12 Taxation The charity is èxempl from taxation on 118 activities because all ils in¢ome is applbèd for tharitable purposes.
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangibl* fixod ass•ts Fixtur¢$ and Ilttlngs omputern Motor v•hlcle8 Total Cogt Al 1 April 2023 10.000 10,909 43,349 64,258 Al 31 March 2024 10,000 10,909 43,349 64.258 D•preclatlon and Impairment At 1 April 2023 Depreciation charged In the year 8.230 266 4,749 925 14,217 4,370 27,196 5,561 Al 31 March 2024 8,496 S,674 18.587 32.757 Canying amount Al 31 March 2024 1,504 5.235 24,762 31,501 Al 31 March 2023 1,770 6,180 29,132 37,062 14 Dgbtors 2024 2023 Amounts falling due vilthln one y••r: Trade debtors 19.640 13,153 15 Cr•dltor#: •mounts falllng du8 wlthln one year 2024 2023 Other taxab'on and sccial $8curily Trade creditors Other creditors Accruals an(J deferred income 1,141 401 9,662 9.415 325 12,508 8,602 20,619 21.435 Included within other creditors is amounts due to third parties for fvnd5 hekl on their behaw. 16 R•tlr•mgnt b#n•fit gch•m•$ 2024 2023 Defin•d contrlbution $ch•mo1 Charge to profil or loss in respect of deffined contribution schemes 1,727 1.363 The Centre operates a defined contribution pension scheme for all qualifying ¢mployees. The asgets of the scheme are held separately from those of the Centr¢ in an independently administered lund
0 ¢7) (Vi o 0> ¢Vi c iJ LL E rlj 112'flla I <-E.2V gszuie
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysls of not assets b8lw8•n funds Unr•¥trict•d funds 2024 Ro•tri¢t•d nds 2024 Total 2024 At 31 Mrch 2024: Tangible assets Current asselsllllabililiesl 7,136 134.423 24.363 13.943 31.501 148.366 141,561 38,306 179.867 Unr••trl¢t•d nd• 2023 R••trfct•d funds 2023 Total 2023 At31 Mrch 2023: Tanglble assets Current a8setslllbbllllie$l 8,399 167,246 26,663 14,650 37.062 161,898 175,645 43,313 218,958 19 D•8lgnat•d fund8 Thè unre8trfclod thjndi of tho charlty eomprile thè un•xp•nd•d balanu• ol don4b.ong and grants which are not subjèct lo specific conditions by donors and grantors as to how they may be used. Th8se include d8slgnalgd funds whl¢h havt In Jet aslde out ol unreslrlcted fuThJs by the Iru5t•e$ for spgclflc purposes. 8%nc• at B&lan¢• at 1 Awll 2023 31 M•rch 2024 1 Aprll 2022 Transport reserve 6,000 {6,0001 6,000 {6,0001 Purpos• of DIgnated Funds Tran5PQrt reserve - funds Set a¥lde to fvnd fuluTe mlnlbu5 expenses. 20 Evants aft•r th• reportlng dalg The chanty transferred lo a SCIO on 20th July 2024.
THE COSMOS COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Rlatsd party tran$a¢tlons Tran5aCtion$ with rel•tsd p•rti•o Durin9 the year Ihe Centre entered into the following transaction8 With related pa'es.. Fife Council has been identified ag a related party as an appointed counclllor. £30,261 12023 £30,2611 was rpceive uranl income. Frfe Council seconded a member ol their slff to support Gogmos Community Centre durfng Ihe year therefore £4,369 {2023 - £4,161) ha$ en recognised as a gift in kind. ho 1$ a InJ8tee of the certre, i¥ e C(>uncil in the fomi of recurring rom