## **REGISTERED COMPANY NUMBER: SC368706 (Scotland) REGISTERED CHARITY NUMBER: 032641** **Report of the Trustees and** **Unaudited Financial Statements** **for the Year Ended 28 February 2025** **for** **Biggar Corn Exchange Ltd** Gordon Ferguson & Co Ltd 76 Hamilton Road Motherwell Lanarkshire ML1 3BY **Biggar Corn Exchange Ltd** ## **Contents of the Financial Statements for the Year Ended 28 February 2025** ||**Page**|| |---|---|---| |**Report of the Trustees**|1|| |Chair’s Report|2|| |**Independent Examiner's Report**|3|| |**Statement of Financial Activities**|4|| |**Balance Sheet**|5|| |**Notes to the Financial Statements**|6 to|11| |**Detailed Statement of Financial Activities**|12 to|13| **Biggar Corn Exchange Ltd** ## **Report of the Trustees for the Year Ended 28 February 2025** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 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). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** SC368706 (Scotland) ## **Registered Charity number** 032641 ## **Registered office** Biggar Corn Exchange High Street Biggar Lanarkshire ML12 6DL ## **Trustees** W A M Muir Trustee C T Crosse Retired P Lynch Actor Mr J R Glashan Retired L M K Morris AV/IT Service Technician Ms K L Milton (appointed 16.1.25) ## **Company Secretary** W A M Muir ## **Independent Examiner** Lynne McTaggart Gordon Ferguson & Co Ltd 76 Hamilton Road Motherwell Lanarkshire ML1 3BY Approved by order of the board of trustees on 10 July 2025 and signed on its behalf by: W A M Muir - Trustee Page 1 **Biggar Corn Exchange Ltd** ## **Activities and Achievements** A key objective of the Board has been to bring the Corn Exchange building and its technical equipment up to a standard where they can be managed safely and effectively within our, somewhat limited, annual revenue. With the building now watertight, this year we have been able to focus on upgrading our light and sound systems. Our old halogen-based lighting system served us well for many years but was increasingly expensive to run. It also required ladder and scaffold tower access to re point lanterns and change colour filters. This was an increasing burden on our volunteers as our events programme expanded, as well as being a safety issue. We now have a fully up to date, digitally controlled system, with colour and direction controlled from the gallery, making it much quicker and easier to set up between different types of events. The new LCD units are about 75% more efficient, reducing both our running costs and carbon emissions. Our sound system has also been upgraded to a digital system, with fixed speakers and much improved connectivity between gallery and stage. The whole refit cost £94,500 and we are very grateful for the funding support from local windfarm operators SSE and Nadara. Our in-house arts participation groups, Young Performers and Biggar Theatre Workshop, continue to thrive. BTW started the year with an excellent performance of Noel Coward’s Blithe Spirit and their pantomime was Treasure Island. They ran a very entertaining Bard-based review, “Shakespeare Shorts” in October and finished the year in February with one of their ever-popular murder mystery evenings. Big thanks to Anna Ludvig who stepped down as BTW Chair at the end of the year and welcome to Shirley Craig who is taking over. Our year-round events programme continues to develop and offers music, theatre, film and comedy to suit all sectors of the community. Special thanks to our regular delivery partner Biggar Little Cinema and Biggar Little Festival and to Braw Clan, whose Scots language performances and outreach programme have had an area wide impact. Our “Spring Up” mini-festival in February brought new, Scotland based playwrights to the Corn Exchange to see their work read and performed by professional actors and this is something that we would really like to develop further. Ater seven years as Chair of BCE Ltd. I am stepping down (although I will remain on the Board to help manage the changeover). It has been a pleasure and really gratifying to see the Corn Exchange continue to develop into a vibrant and sustainable community arts facility. This has taken an incredible amount of work from all of our Board members, BTW and YP organisers and all our other volunteers. We have a facility of which the whole community can be proud and which now has a viable future. I wish my successor Lucas and the whole Board all the best. Malcolm Muir Chair of Trustees Page 2 ## **Independent Examiner's Report to the Trustees of Biggar Corn Exchange Ltd** I report on the accounts for the year ended 28 February 2025 set out on pages three to ten. ## **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 (as amended). The charity's trustees consider that the audit requirement 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 44(1)(c) of the Act and to state whether particular matters have come to my attention. ## **Basis of the independent examiner's report** My examination was 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 seeking explanations from you as trustees 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 connection with my examination, no matter has come to my attention : - (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 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, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Lynne McTaggart The Institute of Chartered Accountants of Scotland Gordon Ferguson & Co Ltd 76 Hamilton Road Motherwell Lanarkshire ML1 3BY 10 July 2025 Page 3 ## **Biggar Corn Exchange Ltd** ## **Statement of Financial Activities** ## **for the Year Ended 28 February 2025** |**INCOME AND ENDOWMENTS FROM**
Notes
Unrestricted
funds
£
Donations and legacies
1,829
**Charitable activities**
Charitable Activities
80,945
Other trading activities
2
60,352
Investment income
3
1,388
Other income
383
**Total**
144,897
**EXPENDITURE ON**
Raising funds
4
95,406
**Charitable activities**
Governance Costs
(7,104)
Charitable Activities
61,367
Other
3,780
**Total**
153,449
**NET INCOME/(EXPENDITURE)**
(8,552)
**Transfers between funds**
13
3,953
**Net movement in funds**
(4,599)
**RECONCILIATION OF FUNDS**
Total funds brought forward
74,854
**TOTAL FUNDS CARRIED FORWARD**
70,255|Restricted
funds
£
4,244
-
-
-
10,735
14,979
-
-
5,555
7,943
13,498
1,481
(3,953)
(2,472)
4,723
2,251|28.2.25
Total
funds
£
6,073
80,945
60,352
1,388
11,118
159,876
95,406
(7,104)
66,922
11,723
166,947
(7,071)
-
(7,071)
79,577
72,506|29.2.24
Total
funds
£
3,956
31,605
47,449
1,517
20,546| |---|---|---|---| ||||
105,073| ||||
252
-
74,833
17,355| ||||
92,440| ||||
12,633
-| ||||12,633
66,944| ||||79,577| The notes form part of these financial statements Page 4 ## **Biggar Corn Exchange Ltd** ## **Balance Sheet** ## **28 February 2025** |Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
8
100,456
**CURRENT ASSETS**
Stocks
9
720
Debtors
10
983
Cash at bank and in hand
77,583
79,286
**CREDITORS**
Amounts falling due within one year
11
(109,487)
**NET CURRENT ASSETS**
(30,201)
**TOTAL ASSETS LESS CURRENT LIABILITIES**
70,255
**NET ASSETS**
70,255
**FUNDS**
Unrestricted funds
13
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
248
-
181
2,827
3,008
(1,005)
2,003
2,251
2,251|28.2.25
Total
funds
£
100,704
720
1,164
80,410
82,294
(110,492)
(28,198)
72,506
72,506
70,255
2,251
72,506|29.2.24
Total
funds
£
11,867
720
365
189,466
190,551
(122,841)
67,710
79,577
79,577
74,854
4,723
79,577| |---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 10 July 2025 and were signed on its behalf by: W A M Muir - Trustee The notes form part of these financial statements Page 5 **Biggar Corn Exchange Ltd** ## **Notes to the Financial Statements for the Year Ended 28 February 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that 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 that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - 10% on cost ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. OTHER TRADING ACTIVITIES** |**OTHER TRADING ACTIVITIES**||| |---|---|---| ||28.2.25|29.2.24| ||£|£| |Fundraising events|3,000|3,356| |Bar & Coffee Takings|19,273|24,185| |Juniors & Youth|1,028|2,638| |Senior Productions|30,533|12,488| |Hall & Facility Lets|4,889|3,114| |Century Account|1,629|1,668| ||60,352|47,449| continued... Page 6 **Biggar Corn Exchange Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025** ## **3. INVESTMENT INCOME** |**3.**|**INVESTMENT INCOME**||| |---|---|---|---| |||28.2.25|29.2.24| |||£|£| ||Interest receivable - trading|1,388|1,517| |**4.**|**RAISING FUNDS**||| ||**Investment management costs**||| |||28.2.25|29.2.24| |||£|£| ||Property repairs|95,406|252| |**5.**|**NET INCOME/(EXPENDITURE)**||| ||Net income/(expenditure) is stated after charging/(crediting):||| |||28.2.25|29.2.24| |||£|£| ||Depreciation - owned assets|7,316|1,381| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 28 February 2025 nor for the year ended 29 February 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 28 February 2025 nor for the year ended 29 February 2024. ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,435
**Charitable activities**
Charitable Activities
-
Other trading activities
42,323
Investment income
1,517
Other income
11,087
**Total**
56,362
**EXPENDITURE ON**
Raising funds
252
**Charitable activities**
Charitable Activities
37,323
Other
6,210
**Total**
43,785
**NET INCOME**
12,577
**RECONCILIATION OF FUNDS**
Total funds brought forward
62,277|Restricted
funds
£
2,521
31,605
5,126
-
9,459
48,711
-
37,510
11,145
48,655
56
4,667|Total
funds
£
3,956
31,605
47,449
1,517
20,546
105,073
252
74,833
17,355
92,440
12,633
66,944| |---|---|---| continued... Page 7 **Biggar Corn Exchange Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025** |**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
fund
Restricted
funds
£
£
**TOTAL FUNDS CARRIED FORWARD**
74,854
4,723
**8.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 March 2024
Additions
At 28 February 2025
**DEPRECIATION**
At 1 March 2024
Charge for year
At 28 February 2025
**NET BOOK VALUE**
At 28 February 2025
At 29 February 2024
**9.**
**STOCKS**
28.2.25
Stocks
£
720
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
28.2.25
Trade debtors
£
1,164
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
28.2.25
£
Trade creditors
4,395
Accruals and deferred income
105,467
Accrued expenses
630
110,492|Total
funds
£
79,577
Computer
equipment
£
126,679
96,153
222,832
114,812
7,316
122,128
100,704
11,867
29.2.24
£
720
29.2.24
£
365
29.2.24
£
3,917
118,294
630
122,841|Total
funds
£| |---|---|---| continued... Page 8 **Biggar Corn Exchange Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025** ## **12. MOVEMENT IN FUNDS** |**Unrestricted funds**
At 1.3.24
£
General fund
74,854
**Restricted funds**
Biggar Community Toilets Fund
770
Clyde Windfarm
2,682
SSE Renewables - Grease
1,271
4,723
**TOTAL FUNDS**
79,577
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Biggar Community Toilets Fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Biggar Community Toilets Fund
Clyde Windfarm
SSE Renewables - Grease
**TOTAL FUNDS**|Net
movement
in funds
£
(8,552)
1,481
-
-
1,481
(7,071)
Incoming
resources
£
144,897
14,979
159,876
At 1.3.23
£
62,277
4,667
-
-
4,667
66,944|Transfers
between
At
funds
£
28.2.25
£
3,953
70,255
-
2,251
(2,682)
-
(1,271)
-
(3,953)
2,251
-
72,506
Resources
expended
£
Movement
in funds
£
(153,449)
(8,552)
(13,498)
1,481
(166,947)
(7,071)
Net
movement
At
in funds
£
29.2.24
£
12,577
74,854
(3,897)
770
2,682
2,682
1,271
1,271
56
4,723
12,633
79,577| |---|---|---| continued... Page 9 **Biggar Corn Exchange Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025** ## **12. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Biggar Community Toilets Fund
Clyde Windfarm
SSE Renewables - Grease
Loaningdale High School
**TOTAL FUNDS**|Incoming
resources
£
56,362
11,980
24,447
11,168
1,116
48,711
105,073|Resources
expended
Movement
in funds
£
£
(43,785)
12,577
(15,877)
(3,897)
(21,765)
2,682
(9,897)
1,271
(1,116)
-
(48,655)
56
(92,440)
12,633| |---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1.3.23|in funds|funds|28.2.25| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|62,277|4,025|3,953|70,255| |**Restricted funds**||||| |Biggar Community Toilets Fund|4,667|(2,416)|-|2,251| |Clyde Windfarm|-|2,682|(2,682)|-| |SSE Renewables - Grease|-|1,271|(1,271)|-| ||4,667|1,537|(3,953)|2,251| |**TOTAL FUNDS**|66,944|5,562|-|72,506| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Biggar Community Toilets Fund
Clyde Windfarm
SSE Renewables - Grease
Loaningdale High School
**TOTAL FUNDS**|Incoming
resources
£
201,259
26,959
24,447
11,168
1,116
63,690
264,949|Resources
expended
Movement
in funds
£
£
(197,234)
4,025
(29,375)
(2,416)
(21,765)
2,682
(9,897)
1,271
(1,116)
-
(62,153)
1,537
(259,387)
5,562| |---|---|---| continued... Page 10 **Biggar Corn Exchange Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025** ## **13. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 28 February 2025. Page 11 **Biggar Corn Exchange Ltd** ## **Detailed Statement of Financial Activities for the Year Ended 28 February 2025** ||28.2.25|29.2.24| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|4,848|2,616| |Subscriptions|785|1,060| |Other events|440|280| ||6,073|3,956| |**Other trading activities**||| |Fundraising events|3,000|3,356| |Bar & Coffee Takings|19,273|24,185| |Juniors & Youth|1,028|2,638| |Senior Productions|30,533|12,488| |Hall & Facility Lets|4,889|3,114| |Century Account|1,629|1,668| ||60,352|47,449| |**Investment income**||| |Interest receivable - trading|1,388|1,517| |**Charitable activities**||| |Grants|80,945|31,605| |**Other income**||| |Revenue|11,118|20,546| |**Total incoming resources**|159,876|105,073| |**EXPENDITURE**||| |**Investment management costs**||| |Property repairs|95,406|252| |**Charitable activities**||| |Rates and water|1,545|983| |Light and heat|9,788|8,492| |Telephone|656|690| |Postage and stationery|29|84| |Advertising|590|858| |Subscriptions|955|401| |Consumables|9,899|14,125| |Juniors & Youths (CXYP)|3,873|22,881| |Senior Productions|8,950|7,604| |Technician|435|1,995| |Century Club prizes|-|1,170| |Computer equipment|7,317|1,380| ||44,037|60,663| |**Other**||| |Admin support & cleaning|11,723|17,355| |**Support costs**||| |**Finance**||| |Licenses, insurance & performing rights|4,646|8,038| |Carried forward|4,646|8,038| This page does not form part of the statutory financial statements Page 12 **Biggar Corn Exchange Ltd** ## **Detailed Statement of Financial Activities** ## **for the Year Ended 28 February 2025** |**Detailed Statement of**
**for the Year Ended**|**Financial Activities**
**28 February 2025**|| |---|---|---| ||28.2.25|29.2.24| ||£|£| |**Finance**||| |Brought forward|4,646|8,038| |Bank charges|1,889|895| ||6,535|8,933| |**Information technology**||| |Repairs and renewals|7,316|3,927| |**Governance costs**||| |Accountancy and legal fees|1,930|1,310| |Total resources expended|166,947|92,440| |**Net (expenditure)/income**|(7,071)|12,633| This page does not form part of the statutory financial statements Page 13