## **GARGUNNOCK COMMUNITY TRUST** # **(A SCOTTISH CHARITABLE INCORPORATED ORGANISATION) Annual Report & Financial Statements** **For the year ended** **30 June 2024** FOR THE YEAR ENDED 30 JUNE 2024 ## **ANNUAL REPORT & FINANCIAL STATEMENTS** ## **CONTENTS** |Trustees’ Annual Report .................................................................................................................|3 - 8| |---|---| |Independent Examiner’s Report .....................................................................................................|9| |Statement of Financial Activities .....................................................................................................|10| |Balance Sheet ................................................................................................................................|11| |Notes to the Financial Statements ..................................................................................................|12 - 21| - 2 - TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDEO 30 JUNE 2024 The trustees are pleased to present their report and financial statements together with the independent examiner's report ts the year ended 30 June 2024. OBJECTS & ACTIVITIES The objects of GARGUNNOCK COMMUNITY TRUST a￿. the provision of recreational fa¢ililies, or the organisation of recreational activities, with the object of improving the condf(ions of lrfe for the persons living within the village of Gargunnock orthe surrounding areas., the advan￿ment of environmentsl protection or improvement within the village of Gargunnock, for the benefft of the local community and visitors., the advancement of citizenship through the provision of facilities and activities that reduce social isolation and provide volunteering opportunities for local people and organisations within Gargunnock. The main activity to ach￿Ve the above aims is through the provision of leisure, social and educational activities within Gargunnock Community Hall. ACHIEVEMENTS & PERFORMANCE Windfami, Community Benefit The Communty Trust receives an annual payment from Nadara (formerly the Renantis Kingsbuml Communty Fund Iwindfarm Fund) to provide grants for the benefft of the village. Wrth the help of Foundation Scotland. the Trust established an independent Windfam Fund Panel to assess and make recommendations regarding grant applications. This has been in operation throughout the year and has provided grants lo a wide range of community projects and organisations. Some of the organisations awarded funds were,. Organisation Funded Amount of Funding ￿ Brief Summary of Project or Activity Awarded £6,500.00 £845 £500 £922.40 £2,872.67 Communty Trust lfjrk Welcome Team Play Park Group Gala Committee Communty Council Upgrade to Beeehes Path New Notiee Board at the Kirk Replaeing play equipment in park Supporting 2023 Village Gala Installing sockets and power supplies around village square for Christmas lights Zero Carbon project at Community Centre Additional toy for sand pit in park Purchase Maker Trolley Create a Wildfiower Meadow Bus costs for Dalguise Trip Bus costs lo Burrell Collection Support a young person in village on an overseas trip representing Stirling Ten Pin Bowling Club Purchase new staging for annual flower show Communty Trust Play Park Group Primary School Pond Group Primary School Scottish Women's Institute Individual in Village £6,360.19 £500 £500 £804.40 £500 £333 £250 Flower Show Committee £2,309.50 Gala Committee Kirk Welcome Team Play Parf( Group £1,179.38 £216 £500 Supporting 2024 Village Gala Welcome sign for noticeboard Sandpit equipment The Trust would like to record its thanks to￿ for chairing the Panel over the past four years and for providing administration services lo the Panel. Both have both helped to improve all the ## **TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 30 JUNE 2024 documentation and processes associated with the Windfarm Panel, improving the efficiency and effectiveness of its operation. The Trust welcomes as the new Panel chair ## **Community Centre** ## **Activities within the Community Centre** The activities within the Community Centre have continued to gradually improve, returning to pre-pandemic levels although some groups have been unable to restart due to the fall in membership over the intervening two years. We now have four offices let in the schoolhouse building and the Drop-in Centre continues to be let for the temporary use by a local business. We have completed the Centre’s move to carbon neutral status which has included a range of works which are now all complete. Some follow up work has been necessary working with the original contractor. The work involved has included upgrading the heating controller, pressurising the heating system, improving the hot water system, topping-up the insulation in the main roof, introducing LED lighting, installing PV solar panels and battery and an associated monitor. Over the next few years the Trust will begin a series of projects to address some of the issues affecting the fabric of the building which were identified in a comprehensive survey undertaken in 2020. ## **The Bugle** The Bugle was set up by Gargunnock Community Trust Ltd to ensure there was a mechanism for everyone in Gargunnock to communicate with each other about issues, events and those things that make the people of Gargunnock smile. Each issue is distributed free of charge to over 400 homes in and around Gargunnock and emailed to many more who have since moved on from the village but keen to keep in touch with village life. Each issue eventually finds its way to friends and family as far afield as New Zealand, Australia, Canada and America and is available on the Community website which is funded by the Trust but shared with other local organisations such as the Community Council, providing a one-stop source of information to local people. We choose to call our village newsletter The Bugle as the Bugle and the Drum are steeped in the historic symbols of the village. They were purchased back in 1775 from the profits of an annual horse race after a public meeting decided to appoint a drummer to announce the hours of 5am and 9pm, as there was a lack of clocks in the village. The drum was used for dry days and the bugle for when it was wet. The success of the Bugle is down to the people of Gargunnock feeling ownership for their village newsletter, they are always very keen to pass on: - updates on the many clubs in the village; - articles supporting fundraising; and - stories on local village history. Each issue also has an update from: - the pupils at Gargunnock Primary School - Community Council news - Community Centre news - Community Trust news - Local police report - Church news. This year there were four editions collated and edited by our young volunteer editor , ably assisted by her mother Shona. While the Trust funds the Bugle it is hoped that through attracting additional advertising the burden on the Trust will lessen over time especially as it continues to be an important vehicle for sharing information about what is - 4 - ## **TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 30 JUNE 2024 happening within the community. The Trust will also continue to fund the community website which it shares with other organisations. This is currently undergoing a revamp to improve its legibility and accessibility in partnership with the Community Council. ## **Bite & Blether** The Bite & Blether continues to be enthusiastically received by the village community. It is held in the Community Centre on the first Wednesday each month providing excellent tea, coffee, soup and home baking and the opportunity for neighbours and friends to meet and catch up. It also provides a valuable source of income for the Community Centre. ## **The Beeches Path Improvement Project** Having secured funding from Paths for All (Ian Findlay Fund), the Clackmannanshire and Stirling Environment Trust and the Gargunnock Windfarm Fund the Beeches Path has now been fully upgraded with a new surface, safety barriers, new seating and picnic table. The improvements have been universally welcomed by the local community, evidenced by the number of positive comments posted on the community Facebook page. ## **Cycle Share Scheme** The Trust was successful in securing a significant grant from the Cycle Share Scheme which has allowed the purchase of a range of different bikes which are now available for borrowing by local residents. Plans are underway to build accommodation for the bikes at the Community Centre. The bikes will provide a very helpful addition to the assets available in the village and will, in time help encourage more active travel. ## **Gargunnock Village Shop** Major progress has been made in returning the shop to the village. The Trust and the Community Council have worked together to establish a new organisation, a Community Benefit Society (CBS), Gargunnock Community Shop Ltd. With its own separate board of directors, it now owns the shop. The CBS is a cooperative entity where the shareholders are members of the community with the intention of issuing shares for the community to purchase during August and September 2024. The work to bring the shop up to a modern standard is extensive and has required major investment. The building will be as sustainable as possible. Funding has been secured from various sources which has allowed the redevelopment work to progress with the aim of having the shop open for Christmas 2024. The shop will be run by a commercial operator following an open tendering process, with the Community Company issuing a lease of the premises. This report can provide only a summary of the activities that have taken place this year and the Trustees are immensely grateful to all the volunteers who have contributed to the work that was carried out in relation to all of the projects mentioned above. ## **FINANCIAL REVIEW** Our principal source of income continues to be grants from various organisations so that they charity is able to carry out individual projects for the benefit of the community. This year the Trustees were successful in receiving funding form Stirling Council. Foundation Scotland, Sustrans, Paths for All, Clacks and Stirling Environmental Trust, Cycling UK and the Energy Saving Trust. Expenditure is focused on the delivery of the projects and in the running costs of the Community Centre. The following table provides a summary of income and expenditure for the ear. - 5 - ## **TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 30 JUNE 2024 ||**2024**
**£**|2023
£| |---|---|---| |Income|**157,746**|88,036| |Expenditure|**122,524**|82,569| |Surplus for the year|**35,222**|5,467| |Total funds as at 1st July 2023|**668,466**|662,999| |Total funds as at 30th June 2024|**703,688**|668,466| ## **Investment policy** The Trustees are aware of their responsibilities for safeguarding the charity's assets. They regularly consider the political, economic, legal and environmental factors that can affect funds and savings. The Trustees have a duty to seek out suitable sources of income generation. The Trustees also consider that it is prudent to accumulate funds for reserves to meet their legal requirements for creditors. They also realise that this has to be balanced by ensuring that there are enough funds readily available to carry out its charitable aims. The trustees have the power to invest funds in the best interests of the charity. To meet these ends the trustees have invested in a property, namely Gargunnock Community Centre which produces a base for the community to come together and also provides a regular income to increase the Charity’s current reserves. The trustees believe that the current investment has a suitable risk and reward profile that meets the investment criteria and risk appetite of the charity. ## **Principal risks** The charity has a risk register that is reviewed regularly by the Trustees. Health and Safety is regularly reviewed by the trustees; this includes maintaining the structural integrity of the Community Centre and monitoring the possible risks to which the charity is exposed and putting actions in place to mitigate these risks. ## **Reserves policy** The core funding source of the charity are the monies received through venue and room hire of the community centre. The level of this income has some uncertainty and therefore the trustees consider that around twelve to eighteen months of expenditure (excluding depreciation) is an appropriate level of reserves to have in place. **Free reserves at the year-end were** : |Total funds as at 30th June 2024
Less Fixed assets
Less Designated funds
Less Restricted funds
**Free reserves as at 30th June 2024**|**2024**
2023| |---|---| ||**£**
£
**703,688**
668,466
**600,711**
(593,288)
**1,594**
(25,000)
**39,209**
(17,430)| ||**62,174**
32,748| Whilst reserves are currently higher than the target range, this is largely due to the receipt of income in relation to the Gargunnock Shop which is now an entity and this income will be going directly to the organisation. The trustees as always are currently considering how the additional funds can be best utilised in furtherance of the charity’s purposes. - 6 - **TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 30 JUNE 2024 ## **FUTURE PLANS** The charity continues to engage with the local community to ensure that the strategic direction of the company is guided by their needs. The community centre will continue to provide local amenities to and for the community. Maintaining the links with the community enable to trustees in their attempts to continue to fulfil the purposes of the organisation. ## **STRUCTURE GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is a Scottish Charitable Incorporated Organisation (SCIO) that was converted from a Company Limited by Guarantee on 14[th] August 2024. It is governed by its constitution. ## **Appointment of trustees** The Board of Trustees are appointed by the members at the Annual General Meeting (AGM) and at the next Board meeting the trustees elect the office bearers namely Chair, Treasurer and Secretary. The charity can have up to 12 Board member and a minimum of three. All the trustees retire at the AGM and are eligible for reelection. ## **Organisational structure** The Trustees who are responsible for the overall management of the charity and meet regularly to oversee the strategic direction of the organisation. The charity has no employees. Volunteers assist the trustees in the overseeing of the community projects and on providing information to the community such as the charity’s social media and ## **Induction and training of trustees** New trustees are welcomed by the Chair and issued with a pack containing the strategic document, the constitution and the latest set of accounts provided with training opportunities in accordance with the charity’s induction policy. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Charity Name** Gargunnock Community Trust **Charity No** SC036793 **Principal Office** Lomond View Gargunnock FK8 3BA **Website Address** gargunnock.org ## **Current Trustees** - 7 - **TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 30 JUNE 2024 ## **Independent Examiner** ## **APPROVAL** This report, which has been prepared in accordance with the Charities and Trustees Investment (Scotland) Act 2005, was approved by the trustees on 25[th] March 2025 and signed on their behalf by: Trustee - 8 - ## **INDEPENDENT EXAMINER’S REPORT** FOR THE YEAR ENDED 30 JUNE 2024 ## **Independent examiner's report to the trustees of Gargunnock Community Trust** I report on the accounts of the charity for the year ended 30 June 2024, which are set out on pages 10 to 21. ## **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 ("the 2005 Act") and the Charities Accounts (Scotland) Regulations 2006 (as amended) ("the 2006 Regulations"). The trustees consider that the audit requirement of Regulation (10)(1)(a)-(c) of the 2006 Regulations does not apply. It is my responsibility to examine the accounts under section (44)(1)(c) of the 2005 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 2006 Regulations. 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 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 came 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 Regulations, and - to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 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. - 9 - ## **STATEMENT OF FINANCIAL ACTIVITIES** FOR THE YEAR ENDED 30 JUNE 2024 |Note
**Income and endowments from:**
Donations and legacies
6
Charitable activities
7
Investments (Bank interest)
**Expenditure on:**
Charitable activities
8
**Net income/(expenditure)**
**Transfers between funds**
**Net movement in funds**
**Reconciliation of funds**
Total funds as at 01 July 2023
16
**Total funds as at 30 June 2024**
15|Unrestricted
Designated
Restricted
**Total**
Total
Funds
Funds
Funds
**2024**
2023
£
£
£
**£**
£
3,810
-
128,061
**131,871**
67,784
24,735
-
-
**24,735**
19,942
472
-
668
**1,140**
310
29,017
-
128,729
**157,746**
88,036
22,905
25,165
74,454
**122,524**
82,569
22,905
25,165
74,454
**122,524**
82,569| |---|---| ||6,112
(25,165)
54,275
**35,222**
5,467
23,314
9,182
(32,496)
**-**
-
29,426
(15,983)
21,779
**35,222**
5,467
32,748
618,288
17,430
**668,466**
662,999| ||62,174
602,305
39,209
**703,688**
668,466| All activities are regarded as continuing. Comparative figures by fund type are shown in Note 19 The Notes on pages 12 to 21 form an integral part of these accounts. - 10 - ## **STATEMENT OF FINANCIAL POSITION (BALANCE SHEET)** AS AT 30 JUNE 2024 |Note
**Fixed assets:**
Tangible assets
**Current assets:**
Debtors
11
Cash at bank and in hand
12
**Liabilities:**
Creditors (due within one year)
13
**Net current assets**
**Net Assets**
**Funds of the charity:**
15
Designated Fixed Assets Fund
Designated Sinking Fund
Restricted Fund
Unrestricted funds|Unrestricted
Designated
Restricted
**Total**
Total
Funds
Funds
Funds
**2024**
2023
£
£
£
**£**
£
-
600,711
-
**600,711**
593,288
-
600,711
-
**600,711**
593,288
214
-
-
**214**
5,448
62,310
1,594
72,347
**136,251**
87,874
62,524
1,594
72,347
**136,465**
93,322
350
-
33,138
**33,488**
18,144
62,174
1,594
39,209
**102,977**
75,178| |---|---| ||62,174
602,305
39,209
**703,688**
668,466| ||-
600,711
-
**600,711**
593,288
-
1,594
-
**1,594**
25,000
-
-
39,209
**39,209**
17,430
62,174
-
-
**62,174**
32,748| ||62,174
602,305
39,209
**703,688**
668,466| Comparative figures are shown in Note 18 The Notes on 12 to 21 form an integral part of these accounts. These accounts, which have been prepared in accordance with the Charities and Trustees Investment (Scotland) Act 2025, were approved by the trustees on 25th March 2025 and signed on their behalf by: Trustee - 11 - **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **1. Basis of preparation** - 1.1. These accounts (financial statements) have been prepared under the historic cost convention, with items recognised at cost or transaction value, unless otherwise stated in the relevant note(s), in accordance with: - (a) The Charities and Trustee Investment (Scotland) Act 2005 - (b) The Charities Accounts (Scotland) Regulations 2006 (as amended) - (c) The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (d) 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) (second edition – October 2019) - 1.2. There have been no changes to the basis of preparation of the accounts. - 1.3. During the preparation of this year’s accounts, it was identified that certain expenditure should have been allocated to the Sinking Fund but was not. The Sinking Fund is a designated, unrestricted fund set aside by the trustees for a specific purpose. This designation is for administrative purposes only and does not limit the trustees’ ability to use the funds. To reflect the correct position, the trustees have now transferred the relevant amount from the Designated Fund to Unrestricted Funds. - 1.4. As Gargunnock Community Trust is a “small charity” within the SORP definition (under £500,000 income) the Trustees have opted to make use of the simplifications permitted by SORP 2015 FRS102 for smaller charities. In particular, the allocation of income and expenditure on the Statement of Financial Activities has been adapted to the Charity’s circumstances, rather than following the functional classification specified in the current SORP. - 1.5. The charity meets the definition of a public benefit entity as defined by FRS 102. - 1.6. The charity is dependent on the continuing support of its volunteers, donors and supporters. However, the trustees have no reason to consider that this will not continue or that there are any material uncertainties about the charity’s ability to continue as a going concern. ## **2. Accounting policies** - 2.1. Fund accounting - (a) Unrestricted funds are those that can be expended at the discretion of the trustees in the furtherance of the objects of the charity. - (b) Designated funds are unrestricted funds that the trustees have set aside for particular purposes. The designation is administrative only and does not restrict the trustees’ ability to apply the funds. - (c) Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, or when funds are raised for specific purposes. - (d) The purposes of the funds are shown in Note 17. - 2.2. Income Income is recognised and included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income; receipt is probable; and the monetary value can be measured with sufficient reliability. The specific bases used are as follows: - (a) Donations are recognised on receipt - (b) Grants -where related to performance and specific deliverables, is accounted for as the charity earns the right to consideration by its performance - (c) Bank interest is recognised when credited to the account. - (d) Where income has related expenditure (e.g. fundraising), the income and related expenditure are reported gross in the SoFA. - 12 - ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 - (e) Income, which is subject to conditions that the charity has yet to fulfil, or which is specifically for use in a future accounting period, is treated as deferred income. - (f) The value of voluntary help is not included in the accounts but is described in the trustees’ annual report. - 2.3. Expenditure and liabilities Liabilities are recognised when it is probable that there is a legal or constructive obligation committing the charity to pay out resources and the monetary value can be measured with sufficient reliability. The specific bases used are as follows: - (a) Expenditure is recognised on the accruals basis. - (b) The charitable company is registered for VAT and any input tax that cannot be recovered is included within the expenditure. - (c) Governance costs include the costs of preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. - 2.4. Tangible assets - (a) Tangible assets are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or, if gifted, at their value on receipt. - (b) Depreciation is calculated to write off the cost of tangible fixed assets over their useful economic lives. The rates used are as follows: - (i) Land and buildings 2% Straight line (ii) Fixtures and fittings 20% Straight line (iii) Leasehold improvement 10% Straight line (iv) Building improvements 2% Straight line (v) Cycles 20% Straight line - 2.5. Debtors - (a) Trade and other debtors are recognised at the settlement amount due after any trade discount if offered. - (b) Prepayments are valued at the amount prepaid. - 2.6. Cash - (a) Cash includes cash in hand and bank balances repayable on demand. - 2.7. Creditors - (a) Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount, usually the invoice amount. - (b) Accrued charges are normally valued at their settlement amount. ## 2.8. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. - 2.9. Taxation The charity is not liable to corporation tax or capital gains tax on its charitable activities. - 13 - **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **3. Trustee remuneration and benefits** None of the trustees were paid any remuneration or received any other benefits during the year or in the previous year. ## **4. Trustee expenses** No expenses were reimbursed to the trustees during the year or in the previous year. ## **5. Transactions with related parties** There were no transactions with related parties during the year or in the previous year. ## **6. Income from donations and legacies** |Stirling Council
Stirling Council Activities Grant
Foundation Scotland
Sustrans
Paths for All (Beeches)
Donations
Clacks and Stirling ET (Beeches)
Turcan Cornell
Cycling UK
Energy Saving Trust|Unrestricted
Restricted
**Total**
Total
Funds
Funds
**2024**
2023| |---|---| ||£
£
**£**
£
750
-
**750**
1,000
-
510
**510**
-
-
31,198
**31,198**
27,484
-
4,075
**4,075**
11,890
-
49,562
**49,562**
-
3,060
-
**3,060**
4,928
-
4,763
**4,763**
960
-
-
**-**
5,000
-
30,407
**30,407**
-
-
7,546
**7,546**
16,522| ||3,810
128,061
**131,871**
67,784| **7. Income from charitable activities** |Bugle Newspaper
Hall Hire
Office rent
Drop in|**Total**
Total
**2024**
2023| |---|---| ||**£**
£
**330**
620
**10,457**
10,506
**8,748**
8,816
**5,200**
-| ||**24,735**
19,942| - 14 - ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **8. Expenditure on charitable activities** ||Unrestricted|Designated|Restricted|**Total**|Total| |---|---|---|---|---|---| ||Funds
£|Funds
£|Funds
£|**2024**
**£**|2023
£| |Bugle costs|2,307|-|-|**2,307**|1,297| |Maintenance and repair|4,671|1,340|-|**6,011**|5,326| |Sessional staff and contractors|3,000|-|-|**3,000**|3,336| |Heat and light|4,834|-|-|**4,834**|6,536| |Insurance|2,783|-|-|**2,783**|1,354| |Telephone and broadband|300|-|-|**300**|360| |Depreciation (See note 9 )|-|23,825|-|**23,825**|19,137| |Governance (See note 10 )|350|-|-|**350**|263| |Grants Awarded|-|-|9,205|**9,205**|21,362| |Bank charges|132|-|-|**132**|134| |Cycle path|-|-|2,041|**2,041**|14,268| |IT & Website|945|-|-|**945**|222| |Stirling Council Activities|-|-|510|**510**|-| |Beaches Project|-|-|58,912|**58,912**|-| |Village shop project|-|-|-|**-**|5,675| |Kirk Sign Project|-|-|845|**845**|-| |Professional fees|-|-|-|**-**|1,046| |Parent network|-|-|-|**-**|2,253| |Chat Craft and Create|-|-|232|**232**|| |Windfarm expenses|720|-|-|**720**|-| |Volunteer expenses|2,369|-|-|**2,369**|-| |Pubs and subs|494|-|-|**494**|-| |Cycle Hire Project Accessories|-|-|2,709|**2,709**|-| ||22,905|25,165|74,454|**122,524**|82,569| - 15 - ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **9. Tangible assets** |**Cost**
As at 01 July 2023
Additions
As at 30 June 2024
**Depreciation**
As at 01 July 2023
Charge for year
As at 30 June 2024
**Net Book Value**
As at 01 July 2023
As at 30 June 2024|Playground
Building
Leasehold
Cycles
**Total**
equipment
Property Improvements
Improvements
**2024**| |---|---| ||£
£
£
£
£
**£**
22,832
263,216
450,950
25,710
-
**762,708**
-
-
8,672
-
22,576
**31,248**| ||22,832
263,216
459,622
25,710
22,576
**793,956**| ||4,566
60,240
91,759
12,855
-
**169,420**
2,283
5,264
9,192
2,571
4,515
**23,825**| ||6,849
65,504
100,951
15,426
4,515
**193,245**| ||18,266
202,976
359,191
12,855
-
**593,288**| ||15,983
197,712
358,671
10,284
18,061
**600,711**| ## **10. Governance costs** |Independent Examination Feees
Filing Fees|**Total**
Total
**2024**
2023| |---|---| ||**£**
£
**350**
250
**-**
13| ||**350**
263| ## **11. Debtors** |Prepayment and accrued income|**Total**
Total
**2024**
2023| |---|---| ||**£**
£
214
5,448| ||**214**
5,448| - 16 - ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **12. Cash at bank and in hand** ||Unrestricted|Designated|Restricted|**Total**|Total| |---|---|---|---|---|---| ||Funds
£|Funds
£|Funds
£|**2024**
**£**|2023
£| |GCT Main Account|23,780|-|-|**23,780**|12,838| |GCT Project account|17,515|-|5,230|**22,745**|19,302| |GCT Community Centre|21,015|1,594|-|**22,609**|13,452| |GFT Windfarm Account|-|-|67,117|**67,117**|42,282| ||62,310|1,594|72,347|**136,251**|87,874| ## **13. Creditors (falling due within one year)** ||Unrestricted|Designated|Restricted|**Total**|Total| |---|---|---|---|---|---| ||Funds
£|Funds
£|Funds
£|**2024**
**£**|2023
£| |Independent examination|350|-|-|**350**|250| |Grants still to be paid|-|-|-|**-**|17,560| |Accruals|-|-|580|**580**|334| |Deferrred income|-|-|32,558|**32,558**|-| ||350|-|33,138|**33,488**|18,144| ## **14. Movements in deferred income** |Windfarm Trust Funds in Advance|As at
Funds
Released
**As at**
30/06/2023
Received
to income**30/06/2024**| |---|---| ||£
£
£
**£**
-
63,756
(31,198)
**32,558**| ||-
63,756
(31,198)
**32,558**| - 17 - **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **15. Movements in funds** ||As at|Incoming|Outgoing||**As at**| |---|---|---|---|---|---| |Unrestricted funds|30/06/2023
£|Resources
£|Resources
£|Transfers
£|**30/06/2024**
**£**| |General fund|32,748|29,017|(22,905)|23,314|**62,174**| |Designated funds|||||| |Fixed asset|593,288|-|(23,825)|31,248|**600,711**| |Sinking fund|25,000|-|(1,340)|(22,066)|**1,594**| ||618,288|-|(25,165)|9,182|**602,305**| |Restricted funds|||||| |Windfarm grants fund|24,698|31,866|(9,205)|(15,185)|**32,174**| |Net Zero project|(5,234)|7,546|-|(2,312)|**-**| |Sustrain project (Cycle Path)|(2,034)|4,075|(2,041)|-|**-**| |Beeches Project|-|54,325|(58,912)|6,500|**1,913**| |Cycles UK - Bike Hire Grant|-|30,407|(2,709)|(22,576)|**5,122**| |Chat Craft and Create|-|-|(232)|232|**-**| |Signage Project|-|-|(845)|845|**-**| |Stirling Council Activity Grant|-|510|(510)|-|**-**| ||17,430|128,729|(74,454)|(32,496)|**39,209**| - 18 - ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **16. Movements in funds (previous year)** ||As at|Incoming|Outgoing||**As at**| |---|---|---|---|---|---| |Unrestricted funds|01/07/2022
£|Resources
£|Resources
£|Transfers
£|**30/06/2023**
**£**| |General fund|22,715|23,736|(18,827)|5,124|**32,748**| |Designated funds|||||| |Fixed assets|585,488|-|(19,137)|26,937|**593,288**| |Sinking fund|24,000|-|-|1,000|**25,000**| ||-
609,488|-
-|-
(19,137)|-
27,937|**-**
**618,288**| |Restricted funds|||||| |Windfarm grants fund|30,796|27,675|(21,193)|(12,580)|**24,698**| |Pond project|-|960|(960)|-|**-**| |Hillpath project|-|-|(600)|600|**-**| |Community shop project|-|5,000|(5,675)|675|**-**| |Net Zero project|-|16,522|-|(21,756)|**(5,234)**| |CAF - parent network|-|2,253|(2,253)|-|**-**| |Sustrain project (cycle path)|-|11,890|(13,924)|-|**(2,034)**| ||-
30,796|-
64,300|-
(44,605)|-
(33,061)|**-**
**17,430**| |Total funds|662,999|88,036|(82,569)|-|**668,466**| ## **17. Purpose of funds** General fund Unrestricted funds that can be expended at the discretion of the trustees in furtherance of the objects of the charity. Designated fixed asset Administrative fund for the allocation of depreciation of the fixed assets Designated sinking fund Administrative fund for the allocation of monies to be set aside for the future maintenance and upkeep of the Gargunnock Community Centre Windfarm Grants Cycle Path Fund Net Zero Project Cycle Hire Project Funds received through Foundation Scotland for the community of Gargunnock and o be allocated and administered by the Trust Funds received through Sustran towards the cost of a safe cycle path around and adjacent to the centre. Funding received through the Energy Savings Trust towards the upgrade of the community centre to assist in the building being Net Zero Funding received Cycles UK to purchase Bicycles and accessories that can be hired within the community. - 19 - **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **18. Comparative Statement of Financial Position (Balance Sheet)** |**Fixed assets:**
Tangible assets
**Current assets:**
Stock
Debtors
Cash at bank and in hand
**Liabilities:**
Creditors (due within one year)
**Net current assets**
**Net Assets**
**Funds of the charity:**
Designated Fixed Assets Fund
Designated Sinking Fund
Restricted Fund
Unrestricted funds|Unrestricted
Designated
Restricted
**Total**
Total
Funds
Funds
Funds
**2,023**
2,022
£
£
£
**£**
£
-
593,288
-
**593,288**
585,488
-
-
-
**-**
-
214
-
5,234
**5,448**
5,485
32,784
25,000
30,090
**87,874**
72,486
32,998
25,000
35,324
**93,322**
77,971
250
-
17,894
**18,144**
460| |---|---| ||32,748
25,000
17,430
**75,178**
77,511| ||32,748
618,288
17,430
**668,466**
662,999
-
593,288
-
**593,288**
585,488
-
25,000
-
**25,000**
24,000
-
-
17,430
**17,430**
30,796
32,748
-
-
**32,748**
22,715| ||32,748
618,288
17,430
**668,466**
662,999| - 20 - ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 JUNE 2024 ## **19. Comparative income and expenditure by fund type** |**Income from:**
Donations
Charitable activities
Investments
**Expenditure on:**
Charitable activities
**Net income/ (expenditure)**
Transfers
**Net movement**
**Reconciliation of funds**
Total Funds B/Fwd
**Total Funds C/Fwd**||Unrestricted Funds
**2024**
2023|**2024**
2023
**2024**
2023
Designated Funds
Restricted Funds| |---|---|---|---| |||**£**
£
**3,810**
3,675
**24,735**
19,942
**472**
119|**£**
£
**£**
£
**-**
-
**128,061**
64,109
**-**
-
**-**
-
**-**
-
**668**
191| |||**29,017**
23,736|**-**
-
**128,729**
64,300| |||**22,905**
18,827|**25,165**
19,137
**74,454**
44,605| |||**22,905**
18,827|**25,165**
19,137
**74,454**
44,605| |||**6,112**
**4,909**
**23,314**
5,124|**(25,165)**
**(19,137)**
**54,275**
**19,695**
**9,182**
27,937
**(32,496)**
(33,061)| |||29,426
10,033
**32,748**
22,715|**(15,983)**
8,800
**21,779**
(13,366)
**618,288**
609,488
**17,430**
30,796| |||**62,174**
32,748|**602,305**
618,288
**39,209**
17,430| - 21 -