REGISTERED CHARITY NUMBER: SC051006 Re ort of the Trustees and Financial Statements for the Year Ended 31 March 2025 for Mount Vernon Communi Hall SCIO Rennie Smith & Co Chartered Accountants 1160 Tollcross Road Glasgow G32 8HE
Mount Vernon Communlt Hall SCIO Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Indépendent Examlnarfs Report Statement of Financial Actlvltles Balance Sheet Notes to the Flnanclal Statements 6 to 11 Detailed Statem8nt of Flnanclal Actlvltle8 12 to 13
Mount Vernon Communi Hall SCIO Re ort of the Trustees for the Year Ended 31 March 2025 The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. 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} (effective 1 January 2019), FINANCIAL REVIEW Financial review The movement of the financial activity is disclosed in the SOFA at page 4 of the accounts.The movement in cash and cash equivalents is disclosed in the statement of cash flow ai page 11 to the accounts. As clisclosed in that slatement, the balance of cash and cash equivalents as al the balance sheet cfate was £67,277. This represents an increase in cash and cash equivalents of £3.346 largely due to a reduction in repair expenditure. Prlnclpal funding sources In addition to letting income for use of the hall, the charities principal funding source is in the form of grants received from Glasgow City Council and other providers. The revenue grant received from Glasgow City Council during the year was £21,000. Reserves policy The general fund represents the unrestricted fund arising from operating actlvities. It also represents the free reserves of the committee. The committee have examined the requirements to maintain free reserves and have concluded that around 6 months of normal operating expenditure is adequate for ordinary operating requirements. The general fund is currently in excess of that level. Risk management The management committee have assessed the major rlsks to which the charity is exposed. In particular, those relating to the operations and finances of the charity, and is satisfied that systems are in place to mitigate the exposure to the major risks. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Governance The committee consists of representatives of the user organisations and interested local residents elected annually at the Annual General Meeting. There shall be office bearers, being the chair person, secrelary,treasurer, letting secrelary together with 2 representatives from each of the two user organisations. The members of the committee shall determine the method of selection of office bearers and each member of the committee has one vote. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC051006 Prlnclpal address Mount Vernon Hall Kenmuir Avenue Mount Vernon Glasgow G32 8HE Page 1
Mount Vernon Communi ci Re ortof h T ste68 for the Year Ended 31 Ma h20 Trustees Ind•pondont Examlner Rennie Smith & Co Chartered AcGountants 1160 Tollcross Road Glasgow G32 8HE STATEMENT OF TRUSTEES RESPONSIBILITIES The members are responsible for preparing the management committee's Annual Report and the financial statements in accordance w¢th applicable law and the Financial Reporting Stsndards applicable in th United Kingdom {FRS 102). Approved by order of the board of truste88 on . a....9.....,&fj..... and signed on Its behalf by.. Page 2
Mount Vernon Communlt Hall SCIO Statement of Flnancial Actlvities for the Year Ended 31 March 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 30,104 21,001 51,105 63,022 Charitable activities Ch8ritable activity 46,738 46,738 45,143 Total 76,842 21,001 97,843 108,165 EXPENDITURE ON fund raising 15,280 21,522 36,802 16,878 Charltable activitles Charitable activity 33,431 33,431 35,576 Hall management expenses 41,058 41,058 98,431 Total 89,769 21,522 111.291 150,885 NET INCOMEI(EXPENDITURE) (12,927) (521) (13,448) (42,720) RECONCILIATION OF FUNDS Total funds brought forward 159,385 7,245 166.630 209,350 TOTAL FUNDS CARRIED FORWARD 146,458 6,724 153,182 166,630 The notes form part of these financial statements Page 4
Mount Vernon Communit Hall SCIO Balance Sheet 31 March 2025 2025 Tolal funds 2024 Total funds Unrestricied fund Restricted fund Notes FIXED ASSETS Tangible assets 73,362 73,362 89,947 CURRENT ASSETS Debtors Cash at bank and in hand 15,360 60,554 15,360 67,278 17.170 63.932 6,724 75,914 6,724 82,638 81,102 CREDITORS Amounts falling due within one year (2,818) (2,818) (4.419) NET CURRENT ASSETS 73,096 6,724 79,820 76.683 TOTAL ASSETS LESS CURRENT LIABILITIES 146,458 6,724 153,182 166.630 NET ASSETS 146,458 6,724 153,182 166.630 FUNDS Unrestrlcted funds Reslrlcted funds 146,458 6,724 159.385 7,245 TOTAL FUNDS 153,182 166,630 fin l?Ip.mpnls were approved by tho Board of Trustees and authorised for Issue on and were Signed on its behalf by.. The notes ft)mi part of these financial statements Page 5
Mount Vernon Communit Hall SCIO Not85 to the Flnancial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basls of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling and Reporting by Charities.. 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) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention. Critical accountlng Judgements and key sources of estlmatlon uncertalnty In preparing the financial statements the trustees have made the following judgements Tangible fixed assets Tangible fixed assets ar8 depr8ciated over their useful lives takSng into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors.ln re-assessing asset lives, factors such as technology Innovation and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, remaining life of the asset and projected disposal values. Income All income is recognised in the Statement of Financial Aclivities once the Charity has entitlement to the funds, it 15 probable that the income wlll be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to Ihat expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings Ihey have been allocated to activities on a basis consistent with the use of resources. Flnanclal Instruments The charity only enters into basic financial instrument transactlons that result in the recognition of financial assels and liabililies like trade and other debtors, creditors and cash at bank.cash at bank i represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Fund structure Unrestricted funds comprise accumulated surpluses or deficits on general funds and they are available for use at the discretion of the trustees in the furtherance of the objectives. Reslricled funds are created when funds are received for a particular purpose, the use of which is restricted to the area or purpose. Where restricted funds are received in respect of capitsl expenditure the funds are transferred to the unrestricted fund as that expenditure is incurred. Tangible fixed assets DepreGiation is provided at the followin9 annual rates in order to write off each asset OV8r its estimated useful life. Plant and machinery 25 % on reducing balance and 10 % on cosl Taxation The charity is exempt from tax on its charitsble activities. Page 6 continued...
Mount Vernon Cornmunit Hall SCIO Notes to the Financial Statements - contlnued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued Pension costs and other post-retlrement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charitls pension scheme are charged to the Statement of Financial Activities in the period to which they relate. FUND RAISING Investment management costs 2025 2024 Staff costs 22,245 3,027 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other banefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 21.089 41,933 63,022 Charltable actlvitles Charitable activily 45,143 45,143 Total 66,232 41,933 108,165 EXPENDITURE ON fund raising 12,181 4,697 16,878 Charitable activities Charitable activity 35,576 35,576 Hall management expenses 56,497 41,934 98,431 Total 104,254 46,631 150,885 NET INCOMEI{EXPENDITURE (38,022) {4,698) (42,720) RECONCILIATION OF FUNDS Total funds brought forward 197.407 11.943 209,350 Page 7 continued...
Mount Vernon Communit Hall SCIO Notes to the Financial Statemènts - continued for the Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES . contlnued Unrestricted Restricted fund fund Total funds TOTAL FUNDS CARRIED FORWARD 159.385 7,245 166,630 TANGIBLE FIXED ASSETS Improvements to property Fixtures and fittings Plant and machinery Computer equipment Totals COST At 1 April 2024 Additions 138,949 12,194 114.090 8,072 3,274 39 264,385 12,233 At 31 March 2025 151,143 114,090 8,072 3,313 276,618 DEPRECIATION At 1 April 2024 Charge for year 103,771 15,115 62,592 12,875 5,727 587 2,348 241 174,438 28,818 At 31 March 2025 118,886 75,467 6,314 2,589 203,256 NET BOOK VALUE At 31 March 2025 32,257 38.623 1,758 724 73,362 At 31 March 2024 35,178 51,498 2,345 926 89.947 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Other debtors Prepayments 13,032 1,505 823 12,875 4,295 15,360 17,170 Page 8 continued...
Mount Vernon Communit Hall SCIO Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2025 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Taxation and social security 1.937 881 4,363 56 2,818 4,419 MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestrlcted funds General fund 159,385 (12.927) 146,458 Restrlcted funds Restricted fund 7,245 (521) 6,724 TOTAL FUNDS 166,630 {13,448} 153,182 Nel movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 76.842 (89,769) (12,927) Restricted funds Restricted fund 21,001 (21,522) {521) TOTAL FUNDS 97,843 (111,291> (13,448) Comparatlves for movement In funds Net movement in funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund 197,407 (38,022) 159,385 Restricted funds Restricted fund 11,943 (4,698) 7.245 TOTAL FUNDS 209,350 (42,720) 166,630 Page 9 continued...
Mount Vernon Communi Hall SCIO Notes to the Financial Statements - continued for the Year Ended 31 March 2025 MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 66,232 (104,254) (38,022) Restrlcted funds Restricted fund 41,933 146,631) (4,698) TOTAL FUNDS 108,165 {150.885) (42,720) A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 197,407 (50,949) 146,458 RestrlGtgd funds Restricted fund 11,943 (5,219) 6,724 TOTAL FUNDS 209,350 {56,168) 153.182 A current year 12 months and prior year 12 months combined net movement in funds, included In the above are as follows: Incomlng resources Resources expended Movement in funds Unrestricted funds General fund 143,074 (194,023) (50,949) Restricted funds Restricted fund 62,934 (68,153) (5,219) TOTAL FUNDS 206,008 {262,176) (56,168) Page 10 continued...
Mount Vernon Communi Hall SCIO Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2025 RELATED PARTY DISCLOSURES There were no related party transactSons for the year ended 31 March 2025. 10. STATEMENT OF CASH FLOW 2025 Restricted 2025 Unrestricted 2025 Total 2024 Total Net movement in funds per SOFA (521 ) {12,927) (13,448) {42,719) Depreciation charges (Increase}Idecrease in WIP I Increase}Idecrease in debtors Increasel(decrease in creditors Proceeds from sale of tangible fixed asset Expenditure on tangible fixed assets 28,818 28,818 32,151 1,810 (1601) 1,810 (1601) (1,448 ) 2,730 {12,233) (12,233) {5,862 ) Net cash (used)Iprovided by operating activities (521 ) 3,867 3,346 (15,148 ) Cash and cash equSvalents at beginning of year 7.245 56,686 63,931 79,079 Cash and cash equivalents at end of year 6,724 60,553 67.277 63,931 Page11
Mount Vernon Communi Hall SCIO Detalled Statement of Financlal ActlvStles for the Year Ended 31 March 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Revenue grant - Glasgow City Other grants Landtrust grant 21.000 30,105 27.934 88 35,000 51,105 63.022 Charltable activities Hall income Other generated income 34,021 12,717 39,516 5.627 46.738 45,143 Total Incomlng resources 97.843 108,165 EXPENDITURE Other tradlng actlvltles Events and promotions Youth club Cycle training Art class Tuck shop 2,187 8,833 947 1,068 1,411 1.958 9,801 297 852 943 14,446 13,851 Investment management costs Wages Social security Pensions 21,832 2,901 86 40 413 22,245 3,027 Charitable actlvltles Community garden Woodland path Station adoption Advertising Improvements to property Plant and machinery Fixtures and fittings Computer equipment 740 1,210 196 303 133 100 13,895 17,166 781 309 15,114 12,875 586 241 30,962 32.687 This page does not form part of the statutory financial statements Page 12
Mount Vernon Communi Hall SCIO Detailed Statement of Flnanclal Activities for the Year Ended 31 March 2025 2025 2024 Charitable activitles Hall management expenses Rates and water Insurance Repairs and cleaning Gas and electric Telephone 3,703 532 16,703 19,776 344 2.067 439 82,586 12,952 387 41,058 98.431 Support costs Other Subscriptions Sundry expenses Accountancy Postage and ststionery Travel costs 1,015 597 642 326 1,180 770 558 367 14 2,580 2,889 Total resources expended 111,291 150,885 Net expendlture (13,4481 (42,720> This page does not form part of the statutory financial statements Page13
Inde endent Examiner's Re ort to the Trustees of Mount Vernon Communit Hall SCIO I report on the accounts for the year ended 31 March 2025 set out on pages four to eleven. Re8pectlve responslbllltle8 of trustees and examlner The charity's trustees are responsible for the preparation of the accounts In accord8nce with the terms of the Charilies and Trustee Investment (Scotland) Act 2005 and the Charities Accounts {Scotland) Regulations 2006 (as amended). The charivs trustees consider that the audil reqU1ment of Regulation 10(1 }(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 4411){c) of the Act and to stsle whether particular matters have come to my attention. Ba51s of the independent examSner's report My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination indudes 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 seeking explanations from you as truslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do nol express an audit opinion on the view given by the accounts. Independ8nt examinerfs statement In connection with my examination, no matter has come to my attention . (1) which gives me reasonable cause to believe that, in any material respecl, the requirements to keep accounting records in accordance with Section 44(1 }{a> of the 2005 AGI and Regul8tion 4 of the 2006 Accounts Regulations; and to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or (2) to which. in my opinion, attenlion should be drawn In order to enable a proper understanding of the accounts to be reached. Rennie Smith & Co Chartered AGcount8nts 1160 Tollcross Road Glasgow G32 8HE Date.. Page 3