## **LOCHGOIN AND FENWICK COVENANTERS TRUST** ## **ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024** ## **R.A. Clement & Co.** **(Incorporating Clement & Son) Chartered Certified Accountants** **1 Seaford Street** **KILMARNOCK** **KA1 2BZ** **Tel: (01563) 522783 Fax: (01563) 571073** **LOCHGOIN AND FENWICK COVENANTERS TRUST** ## **TRUST INFORMATION** ## **TRUSTEES** ## **PRINCIPAL ADDRESS:** 1 Bentinck Crescent ## **TROON** KA10 6JN ## **SCOTTISH CHARITY NUMBER:** SCO13533 **1** ## **LOCHGOIN AND FENWICK COVENANTERS TRUST** ## **REPORT OF THE TRUSTEES:** The Trustees present their Report and Accounts for the year ended 31st March 2024. ## **OBJECTIVES:** By Deed of Trust, dated 19th June, 1964, the Trust was instituted as a charitable organisation. The objectives set out in the Deed were to purchase, display and promote interest in property and articles known to have belonged to or be associated with the Fenwick Covenanters of the Seventeenth Century. Following a successful application to the Scottish Charity Regulator (OSCR) the Trust was registered as a Scottish Charitable Incorporated Organisation (SCIO) on 8th November, 2011. The total funds held by the Trust were transferred to the SCIO on 22nd November, 2011. The SCIO's expanded objectives applicable are for the following charitable purposes (for the purposes of the Charities and Trustee Investment (Scotland) Act 2005 and also for the purposes of the Taxes Acts. a the advancement of heritage b the advancement of education and c the advancement of citizenship or community development (including the promotion of the voluntary sector or the effectiveness of charities). The foregoing charitable purposes being principally furthered through (1) the acquisition of property and articles known to have belonged to or be associated with the Fenwick Covenanters of the seventeenth century (2) the development of a suitable manner in which to house and display for public benefit the acquired property and articles (3) the acquisition of property and articles that complement the collection of property and articles known to have belonged to or be associated with the Fenwick Covenanters of the seventeenth century and (4) the provision of assistance (whether financial or otherwise) to other charities and organisations that have similar purposes and objectives to the Trust. The Trustees declare that in exercising these purposes they shall have proper regard to the spirit of the original constitution of the trust and intend the exercise of (3) and (4) above to empower the Trustees to further the purposes in a circumstance where the purposes of the Trust will be furthered, but the particular circumstance does not relate specifically to Fenwick. ## **MANAGEMENT:** The Trust is managed by the Trustees listed above. ## **RESULTS AND RISKS:** The attached Receipts and Payments Account for the year show a surplus of £38,423. The Trustees are of the opinion that the reserves and activities of the Trust do not expose it to any material risk requiring the establishment of systems to mitigate such risks. **----- Start of picture text -----**
By Order of the Trustees
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**2** **LOCHGOIN AND FENWICK COVENANTERS TRUST REPORT OF INDEPENDENT EXAMINER ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024** I report on the Accounts of Lochgoin and Fenwick Covenanters Trust for the year ended 31st March 2024, which are set out on pages 4 and 5. ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER:** The Charity's Trustees are responsible for the preparation of the Accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006. The Trustees consider that the audit requirement of Regulation 10(1)(d) of the Accounts Regulations does not apply. It is my responsibility to examine the Accounts, as required under Section 44(1)(c) of the Act, and to state whether particular matters have come to my attention. ## **BASIS OF INDEPENDENT EXAMINER’S STATEMENT:** My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts and seeks explanations from the Directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the Accounts. ## **INDEPENDENT EXAMINER’S STATEMENT:** In the course of my examinations, no matter has come to my attention. - 1 Which gives me reasonable cause to believe that in any material respect the requirements: - a) to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and - b) to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations, have not been met, or - 2 To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. …………………………………………….. R.A. Clement & Co. Chartered Certified Accountants 1 Seaford Street **KILMARNOCK** KA1 2BZ Dated:……………………………………… **3** **LOCHGOIN AND FENWICK COVENANTERS TRUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2024** |**Year to**
**31.3.23**
**RECEIPTS:**
5,500
Rent of Lochgoin Farm
675
Miscellaneous
-
Power Systems - Wayleave - Electricity Cable
69,930
Whitelee Wind Farm
76,105
_TOTAL RECEIPTS:_
**PAYMENTS:**
20,989
James Barr - Share of Whitelee Wind Farm Receipts
3,186
Museum Alterations and Improvements
2,533
Insurance of Farm Buildings & Relics
11,712
Legal & Professional Fees
1,416
Accountancy Fees
520
Repairs & Maintenance
11,955
Trustee's Meeting Expenses
600
Website & Advertising
10
Miscellaneous
52,921
_TOTAL PAYMENTS:_
23,184
**REVENUE SURPLUS FOR THE PERIOD:**
=======|19,905
2,072
2,564
-
-
4,721
13,893
11,533
-|**Year to**
**31.3.24**
6,000
390
323
86,398| |---|---|---| |||93,111| |||54,688| |||38,423
=======| **4** LOCHGOtN AND FE)IVICK COVE)MTERS TRLST STATE.MEIT OF BALAI%CES AS AT 31ST MARCH 2024 Yeai. to 31J.23 Yeai. lo 31J.24 STATEMENT OF BALANCES 51.425 Revenue Suq)lus broughi forward 74.609 23,184 0)eficiiySu￿lllS of fimds foi the year ended 31si MarclL 2024 74.609 38.423 113.032 HELD AS FOLLOWS".- 69.609 Clyiksdale Bank Troon 108.032 S 000 Lochgoin Fan]L as donaied (Nole l) 74.609 113,032 NOTE I LOCHGOINFARM. ASDONA TED.. Thi's Properry was dollaied 10 the unincoryoraied Trwsl by the 2nd Lord Rowallan in 1964. The figure of £.S.000 represents the value al tllai iiiiie of ihe Property will) sitlii18 lenaiils. Oi) ii)corporalioii of the T￿$t as an SCIO. the propery was traDsfured to ihe SCIO. ai original cosi. on 23rd Noveiiiber. 2011. The T￿SteeS es11ll￿te Ibe value of Illls Ptoperty ai 3151 M￿Cts. 2018 10 be approxill￿lelY £760.000 {Lalld]ord's Interest). based on a val1￿110n by s￿Iths Gore. daled 3151 July. 2014. Submitted and Approved OD behalf of the Tn￿ree5