awity Tegistration number: SC037670 Clydebank Independent Resource Centre Annual Report 8¥bd Financial Ststements for the Year Ended 31 March 2021 Clydebank Independent Resource Centre Referenee and Administr21ive Details Trnstees Seeretsry Princip*l Offiee 627 Dumb8rton Road Dalmuir Clvdebank G814ET Charity Re8iStrgtion Number SC037670 BAnk•ts The Royal Bonk of S¢otFand PLC Clydebank Branch 30 Sylvania Way Clydebatbk G81 ITS IndependeTrt Examiner KRP Chartered Certified Accoufttsnts 12 Glen Artney Road Dumbarton Dunbattoftthire G82 2BS Page I Chair Persons Comments Co-ordinators Remarks We now eIght￿ll months into the Coronavin￿ pandemic. but with hope and optin]ism b¢gir￿Ing to ett)erge due to tbe vaccination programme,coupl￿l ￿1th ihe emergency health ￿￿&s￿re of ID¢kdowns and isolation not lo rnenlion the heroic effDrts of the NHS, Social Services and other PUDlic service5.There are too many to list. M'ho deserve our collective thanks. Last vear, in line with good practi￿. set down by the Sc(rttish Charities Regulators (0sCR), reserve5 held for jusl such an emergency weff ulilised to t]am>w Ihe budget gap. Despite this. it was still necessary to appll>ach West Dunbartonshire Council foi addilional support. ThAS was responded to pos'.tively in recognition of the invaluable role played by the Centre as a partner ag¢ncy. I am immensely p￿ud of the statTand volunteers of the IndeFEndent Resource Centre: who despite operational difficullies in ¢oniinuing to provide rneaningful support to those in need , nDnetheless did an outstanding job in doing so. The thanks of myself . Clients anc Management Con]mittee go to £￿h and every one of you, for the way that vou siood up to the clmllcnge of being aiwlable tI￿llS￿ollt the cDvid Crisis, even when the Centre had to tenporarily clos¢ its doors. Fund ng for the year 2021.2022 to rneel a projecled budgel deficil has now also been guaTanteed bul time to explore funding possibilities lo fflable lon£ term stabilisation, has beei hampe,"al by the coronavirus pandem'.c placing the IRC in a continuing p￿carlouS financial position. The Independtnt Resource Centre should by now. have been well down the road of discussion to establish sust&inable funding essenlial to thc contirnuation of the services on off¢r.Covid has impacted Dn that and reduced the titne available lo explore options. That.and anticipated higher than ever dernand from pjtenlial cl;erAts are challenges we face , which must be woTh for th¢ survii'al of the Resource Centre to avoid it falling victin] to the economio imp￿( of ¢ovid. There is unfortunately Long Covid sufferers seeking assistance on beD.efit entitlement. numbers ¢xpccted to i￿reaSe as we move further out of iestictions. As we ( hopefully) retum to some kind of nornlality in the delivery of serviees the need wi.} PTove greater than &t any tillJ¢ since ttr.e Centre was f2rsl ethlished. T.rye elderly . infimi . ￿Ulnerable, poorest, rnosl discrirnin¢ited against and disadvanthged, are always at mosl risk in times of crisis. There is lillle doubt the pandemic will bave taken a toll. yet to surface, on a day to day basis.Mental health has sutTered. long covid illnesses will need Lo be addressed, uneii Lploymellt and debt will need lo be tackled. Relationships will have been affected in nwiy differenl ways with different impacts on families and individuals. As ￿Way4 ihe IRC is nothing witboui those that have been delivellng face to f￿e advice and forni filling sinee the 151h June 2020. 1 would like to take the o)poilunily to individjally menlion, Staff member<. Janice, Kitsty, John: Morng, Maureen, Jennifer, Margaret, and Andrea for their comnitrnent and personal sUPPOrt and Pam. and Pauline for their hard work and dedication in a voluntary capacity. Finally. thank you to all Management CDmmittee members for their Eupport duriDg Ihe last eighken Months. anagement Committee Chair, Centre Co-ordinator 31Pa&e INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CLYDEDANK INDEPENDENT RESOURCE CENTRE I repon on the accounts of the charity foi the year ended 31 March 2021 which set out on pages 5 to 18. Res ecÉive re5 onsibilities of th¢ rrustees and examiner Th¢ charity'5 tTUSt¢¢s are T¢SPQT15ibl¢ for th¢ preparation of th¢ accounts in accordanee with the terrng of the Charities and Trustee Invegtment (Scotland) Act ?005 and the Chanties Accounts (Scotland) Regulations 2000. The charity trustees consider that the audit requirement of Regulation l O(1 ) (a) io (c) of th¢ 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) Ic) of the Act and to sote whether particular mart¢rs have come to my attention. Basis of iDde endent examiller's statement My examination is carried out in a¢cordance Wlth Regulation I l of the Charities Accounts (Scodand) R¢gulations 2006. An ¢xamination includes a review of th¢ accountin8 rc¢ords k¢pt by th¢ charity and a ¢oniparison of the Accounts pie5¢nt¢d 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. Thc proccdures undertaken do not provide all the evidence that would be required in an audiL and eonsequently I do not express an audit opinion on the view given by the accounts. Inde endènt ÈXAminèr8 $ 8tat¢m¢nt In th¢ couts¢ of exatuination, no matter has come to n]y att¢iitÉon which givcs mc reasonable cause to L￿lieVe thal in any material respect the truste¢s hav¢ not met the r¢quiTem¢nts to ensur¢ that". Accounting records are kept ￿ accordance with Section 44(1) (a) of the 2UU5 Act and regulatio13 4 of the 2006 Accounts Regulatioiis The financial statements have been properly prepared in aecnrdance with l Jnited Kil￿aUlI1 O¥n¥idlly ALivunlin¥ Prd¥lÉic t￿d Have been prepAred in 2ecord8nce V4ith the requirements nf the C.hAritieg And Tni4tpe. IIiv¥bLtTh¢nl (SLuiland) ALI 2005, and rrgulatloll 8 of Thc Charities Accounis (Scotland) Regulation8 2006. 2. to which, in my opinion. attention should be drawn to enable a proper understanding of the accounts lo bc r¢aLh¢d. F¢llow of The ASS￿latiOn of Chartered Certified Accountant5 (ACCA) KRP Accountants Ltd 12 Gl¢n Artn¢y Road Dumbarton t)unh2rtnnqhire G82 2BS 27 ()elnher 20?_1 KIIpAGcountdnts IL Jo. Clydebank Independent Resouree Centre Statement of Finalleial Activiriej for the Year End¢d 31 March 2021 Unrestricted Total 2021 Iyote Income gnd Endowmtnts from: Donaiions and I¢wiES Inv8s¢m8nt inwrne 141,725 3?. 141,7?5 .32 To￿7 ift¢ome 141,757 141,757 Exp¢nditure on: Raisins funds CharitAble activiiies 1170J881 (30.775 (170,388) 30.7751 Total ¢xpenditur¢ (201.16i) 201.163) Net expendiwrc (59.400 (39,406 Net movement in fvnds (59.406) {59.406) R¢contilia¢ion ot fvDd$ Totsl filnds brought foTh¥ard 118.555 118.55S Total liinds carried foNard 15 59.149 59.149 Total 20ZO Unre$lrietgd (ujds Note Incorne and EthdowmeDts from: L)onalions and le%acies Investment incom¢ 164.J46 75 Ib4.346 75 Tot81 income 164,421 104,421 Expenditllre Raisi￿￿ funds Charitablv ?rtLVItLe& (196,363) dOJ76) {196.363) (40.77A) Toral expcndlnw¢ Net expenditure (236.739) (236,739) {72.3181 (72,)18) moY¢rnGnl in fvnds (72,318) (72,318) Reconc1114tion of funds lotsl funds brou%hl fomrd 190,873 518.555 190,87J Total fiLnd$ earrted fonvard 15 118.545 All of th¢ ¢harity's ￿tIvitIeS derive from ciffltinuing op¢ralions durin8 th¢ above two periods. Th¢ fvnd- br¢okdown for 20*0 is shown in note 15. ThE notss on pages 7 to 15 forn) an iftiegral part of these fJTrancial $tatrmenis. Yage 5 Clydebank Independent Resouree CeDtre (Registration number.. SC037670) Bglance Sheet As at 31 March 2021 2021 2020 Note CurreDt $sgÈts Ueblors Cash ai bank and in hand 12 13 12,625 46.524 5,767 118.2110 59.149 124,053 Creditors: Amounts fallin£ due within onc ytar 14 {S.498) Net a$sets 59,149 118.555 Fund5 of the churlly- Unrestricted Sntome funds Unresrricted fund5 59.149 118.55S Tntgl funds 15 59.149 118.S55 The fin2nciAI statements on pages 5 to l S were approved by the trustees. and authorised for issue ot) 27 October ?021 and si n¢d Iheir b¢half b The notes on pages 7 10 15 ftlrn) an integral part of these firtanciol 5tatem¢nts. Pase 6 Clydebv4nk Independent Resource Centre Notes to tbe Financial Statements for the Year Ended 31 March 2021 l Aeeounting polici¢5 StateThent of compliance The financtal statements h4v¢ beett prepared in aeeordgnce with Aceoiinting R?.pnrting hy C.hgrities_' Stat¢rn¢nt of Recotnmrnded Praciic¢ appli¢able to choriti¢5 preparing their accounts in a¢¢ordance with thc Financial Reporting StandaTd applicable in the UK aT)d Repllblic ol. Ireland IFRS 102) (effKtive l January 201 S) - (Charitie5 SORP (FRS 102)>, the FiTtan¢ial Reportin8 Stsndard app12¢abl¢ in the UK and Republic of Ireland (Tr"Kb 102) and the Lharities Aci 2011. Ba$is of preparation C_lydehAnk Inrtependent Reqnurce Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilitiGs arc initially rCco￿lscd at kiytoricai cost or tr4nsttetion value unless oth¢rwise stthd in the relevant accounting policy note5. ExeiuptloR froni prepaJARg a £abh flow $t*tement The charity opted to early adopt Bulleiin I published on 2 February 2016 and have Iherctore not included a cash flow 5tat¢ment in th¢s¢ financial statement& Coing eoDeerft Th¢ tru5t¢¢5 wn5ithr that there ar¢ no m&¢rial L￿￿taIn)eS abtsui the charity's ability to continue &8 a going concem. Intome and endowmen Volunt8ry income including donatlons. gifts, le8acLes and grants that provide core funding or are of a 8eners1 nature 15 r¢cogni5¢d Wh￿ th¢ Charity hM¥ vniKllemeni io ihe incoffte. it is prob4bl¢ that the income will b¢ received ihe ￿M￿)unt tan he metqllred with sufficient reliability. Grnni$ rectiv&èle (irants are rewised when the charity has an eniitlem¢ni to the funds and any condliions link¢d TO the granTs h8ve been met. Where performance conditions are att*hed to the st￿t gnd are yet to bè m@t thp. ine.time i ognised 45 3 li3bility in¢luded on th¢ b￿an¢¢ shed as d¢feTt¢d in¢om¢ to b¢ r¢l¢as¢d. Dividend5 ar4 r￿￿8￿15*d on¢0 th• diVid￿d has been d￿lAred and notific*tion hAS been reeeived of the dividend due. Exptnditurt All expendiiure is recognised once there is a legal or construciive obligation lo thai expenditu￿, it Is probable settlement is required and the amount can be Me￿ured reliably. All costs are 411ocated to the applicable expenditure heading that aggregate sirnilar cost5 10 that C￿egory. Where c05ts cannoi k dir¢LIIy ¢i¢lribuL¢d to rtir.IilAr heAAingo ihry hAve heg.n AlInc￿ted aTt a hA*i< C()n%istent with the use of resources. with central siatT lQ5ts allocattd tht basis of time spcn¥ and dep￿rIatiOn charsG$ allo¢￿￿ on the portion of thc a33Ct'3 US¢. Ulher support costs are allocattd b&%d on the spread of Stsff costs. Pa8e 7 Clydeb4nk Independent Resource Centre Notes to the Trinaneial Statements lor the Year Lnded 31 March 2021 Rlllsinglund5 These are cosrs incurred in attracting voluntary income. the management ot" investments and those Incurred in trading activÉties that raise funds. Govern9Trce costs These in¢lud¢ lh¢ Costs attributable to the ¢harity'$ ¢omplianG¢ with ron5titutional and statutory rEquirernent4 including audiL stra￿8]C management and trnstees's meetings and re]mbu￿ed expenses. TJxatlon The ch2rity is considered to pass the tests qet out in Paragraph I Schedule 6 of the Fingnce Act 201 O &nd thtrcfore it rne¢ts the definition of a charitsble Gornpany for UK ¢orpordtion tax purposes. Accordi￿8]y, th¢ charity is polentiallv cxempl from tsxation in respect of income or capital gains received within cat¢Rorie5 covered by Chapter 3 Part I l of the Corporation T&x Act 2010 or Section 256 of the Taxation of Chargea61e Gaill5 Alt 1992, tv th¢ ￿¢¢nI th4t 5uGh inGomr or gain5 appli¢d ¢xrlusivcly to oharitsbl¢ purpos¢5. Tradc dtbtors '[ Taile debtors are amounts due from customers tor me￿handise sold or services perfomied in the ordinary ¢ourse of busines$. Tr8de debtnrÈ are Tecogni_%ed initlAlly at the trAn¢2cli()n prite They Are.41ih48.4iie.ntly rnex411red Al Amnrti4ed cngt sins th¢ effective iTht¢rest method, less prtsvision for impakTtn¢rtt. A pmvisioll for the impairtn¢nt of trade debtor3 is esthblished when there is objective evidence that the charity will not be able to collect all amounls due according to the Original terms of the rec¢ivabl¢s. Casb and elsh equlvxlents Cash and cash equivalents ¢omprise cash on hand 8nd call d¢posits. and oiher shon-ienn highly liquid investment5 that are readily convertible to a known atnount of wh and are 5ubjeci lo an insi¥ntficant risk of Ghan8e in valiiè. TrAA•. erèditn ubli￿lIvI1) Iv y#y fvr ￿V￿lji ur ￿[vI￿r¥ Iliu( Iiav¥ brvn 0¥4uirrd in Ihr vrdinary GT)ur5¢ vf busin¢55 frum supplieTS. Accounts payable are £las5ifi¢d a5 Current liabilities if ihe does noi have an uncondiiional riEhi. at the end of the reporting period. to d¢fer s¢ttl¢m¢nt of the fftditor for at Itast twelve months after the rcportÈn8 datc. If there is an unconditional right to defer settlement for ai lea51 iw¢lY¢ months after the reportin£ dale, they are prpge.nte.rt a¢ non-c.iirrent li9bilittes. re recognised initially at the transactton price and subsequently measured at amortised cost using the effective interest method. Page 8 Clydeb2nk Independent Resouree Centre Notu TO the Finauii¥l for ¢b¢ Ycar Ended 31 Mar¢b 2021 Borrowlngs Intettst-bearing borrtswings Are initially rettsrded at fair vglue. nei of transaction Costs. Interesr-bearing borrowtngs sub5equ¢#tly ¢arri¢d aE amort5sed co5L with the differcnec between the proceeds. nei of transaction costs. and the amount due on redemption being recO￿lS¢d as a charge to the S(at¢ment of Financial Activities over the poriod of the relevant borrowLng. Interesr expense ig recognised on the b&8rg of the effective inteTes1 method and is included in interest payable and similar char8eS. Bortowin8È are ¢lassified as Current li•bilitie$ unlegs the charity ha# art uneondltion#l right to dth.r op.rrlp.rn•.nt tjf the liability for at least tw¢lv¢ 8ft¢r the reporting dat¢. Purtd Strnet￿re Unrestri¢led in¢ome tunits ar¢ genernl funds that are available for at the truste¢s's discretion in funheranre of the objectives of the charity. Financial instrllrnents Closslfieullon Financial assets and financi￿ liabilities are recognised when the charity bee0rn￿ a paty to the cnnti?ctual prvvi>ivii¥ vfili¢ iiiilrwziriil. Financial liabilities and equity instruments are cl&8sified according to the substance ol. the contractual arrangements entered into. An equity instrum¢nt ts any contract that evidences a residual interest in the assets of the Charity after deducting all of its lidbilitie5. All financial a5S¢ts and liabililies 8r¢ initially m¢a5urcd at transaction price (includins traiisuGtion costs). except for those financial assets classified as at fair value through profil or loss. which are initially measured at fair valuts (w&i¢h 16 norrrwdlly tho transact*on price excluding transaction ¢o5ts). unle$$ the atrAngement constitutes a financing transaction. If an aTrangcTn￿1 CQnStitutfS 4 finanLing IrdllSaciion. the finan¢ial asset or fin8ncit] Itability is measured at the present Yalue of the fijture payments discounted at a market rate of interest for a Stmilar d¢bt instnAmGnt. Financial usets Bnd li8biliti¢s are only offset in the statement of firtancial position when. attd only when there ¢X1515 a l¢gally ¢nfo￿VabI¢ right 19 5e( Ihr rewvgnised atntsunts and the charity intends eith¢r to settle on 4 ner basi& or to realise the asse( and settle the liability simultsneously. 'intthcial wets are derecognised when and only when a) the conlraclual rights to the cash flow5 from the fiT)8t)cial asset expire or are settled b) th¢ chartty transfe￿ to another party substantially all of the risks and reward5 of own¢T5hip of the finaTtcial a55¢4 or L) thE Gharity, d¢spite hUYin￿ r¢ldin¢Q buTne. bu( nvl all. Aignificant risk% and rewArdg nf ownership. h&q transferred control of the asset to another pw. Financial liabilities are dererO￿t5￿ only when the obligation spe¢ified in the contrn¢i is discharged. unc¢lled or expires. Pag¢ 9 Clydebank Independent Resource Centre Notes to the Financial Statements for the Yegr Ended 31 March 2021 Debf inslnirneRts Debt instruments whi¢h meet the followmg conditiang are subsequently me&qured at arnortised cost using the ecLtve interesi Inethod.. (a) Thc controctuol r¢bJrn to th¢ holdgr ts (i) a fixed arnount. (li) a positive fixed rate or a po8itiv¢ v•riable rate. or lili) a combination of a positiv¢ or a n¢gaTive fixed r￿¢ and a p05klve varlable rd*. (b) The GOlltt&ct m&?" provid¢ for r¢payments of the principal or th¢ r¢turn to the holdcr (but not both) to be linked io a single relevant observable index ot- £eneral price inflation of the curTcncy in which the dcbr tnÈtnJment is denominat¢d. providèd sueh links are not leveT8ged. (c} The contrAet TnAy provide for a detenninable variation of the rewrn to the holder during the life of the insirum¢nt, provided that (i} the new rate saiisfic5 condition (a) and the variation is not ¢onting¢nt on future events oiher than I I l a change ol a ¢ontrdCtual vanable rate. 121 lo protect the holder against credir deieriordiion of the issuer. (3) changes in levies applied by a c¢ntrdl bank or arising from ehanges in relevant iaxation orlgw; or (ii) the new rate is a market rdt¢ of Int￿St and 5atisfi#s ioiidilLOlJ {a). (d) Th¢rE 15 no GontrA¢tual prtsvision that could, by its t¢m13. ￿$￿1¢ in th¢ holder losins the prinotpal am(Funt or any Interest attributsble io the cur￿nt p¢riod or prior pcrioas. (¢) Cgntractu&l provi5i0ns that pemit th¢ issu¢r io pr¢pay a d¢bt instrument or pemit ih¢ hold¢r to put it bEck to the issuer before maturity are not conlingenf on futhre event5. other ihan to piotecl the holder aRainsl the credit det¢riorotio* of the i￿u¢r or o ¢haTrs• in wntrol of thtr iE$u¢r, or to protect the holder or i$suer against ehan8e$ in levies applied by a Gennl bank or 8ri$ing from changes in relevant taxation or law. lfj Contractual provisions may p¢rnJit the ext¢n5ion of the trrm of the debt instrumenk providcd th4¢ th£ return lo the holder aDd 8ny other ¢ontraciual provisions applicable durinR the cxtended term Satisfy the condition5 of patagraphs (a) to (c). Debt instruments thai are elAssified as payable or receivable within one year on initial recognition and which i¥ri ilir abvv¢ ￿￿￿1￿lL1VI1> IiLOSUitd ai ui)di&knouiited ￿lioU￿1 of th¢ knash or oth¢r GonJid¢raiion expectcd to be paid or received. net of impairment. Wilh th¢ ex¢epilon of 50m¢ h¢dglng InSMm]en￿, other debi tt]swum¢nrs noi mwlng these Eondi(Ivn& ar¥ mpaqiirpA ai fair VAliip ihroii8h prnfit nr It￿￿. Commitments to make and Tettiv¢ loan5 which meet the conditions mentioned above are rneasur￿ al cos1 (wh¥¢h may be nil) less impairmtnt. InVes1n￿rtts Investments in non-eonvertible preference shares and non-puttable ordinary or preference shares (where shares publicly tradGd or thGir fair valuc 15 rcliably m¢L3urablc) arc mtasurcd at fair value through profil or1053. Where fair value cannot be measured reliably. investments are measured al c05t les5 impaimcnl. Investments in subsidiaries aTrd associates aTe T￿￿ured ￿ cgst IESS imp8imient. For inv¢sttnents in subsidta¥i¢s acquired for consideration including the issue of shares qualifying for merRer relief. Lost is measured by referen¢e to the nominal value of the shores issued plus fair value of other 00n￿ideratio￿. Any premium i- ignored. Pag410 Ctydebank Independenl Resource Centr¢ Notes to the Finan¢iAI Stxtements for the VÈAr F,nded 31 March 2021 Den￿lhIeflMURC1ullnsky￿￿ERts The charity useg derivative fin&neig1 instmiment.4 t(J reduce exposure to foTeign ex¢h4n%e risk and inter￿[ ra movemenTS. The ch4ri(y IIVL ljuld or i55u¢ dcrivatiY¢ fLnoh¢iAI instturnents for speculative purposes. tkrivatiyes ar¢ initilllly r¢¢o8nised at fair value at the date a derivative contract is entered into and are subsequently reMe￿Ured lo their fair value ￿ ¢ach ￿POrtIng date. The resultins gain or 105s is recognised in ststement of fihancLAI artivities irnmpAixtp.ly unless the derivative is designated and eff¢Gtive as a hedglng instrumeni, in whicli ¢vent the liming of the recogniiion in statement of financia5 activities depends on the 2ture of the hedge relationship. Foir Value m¢wuremEni Th¢ besi eviden¢¢ of fair Yalu¢ 15 a quoted price for an identical ￿SCt in an active market. When quoted priees are utfdvailable. the price of a recent transaclion for an identical asset provides evidence of fair valu¢ a5 as Ihtre noi been a si8nifLcant ¢han8e in economic ¢ir¢um$tance5 or a signifitant lapse of time since the transaciion look place. If the markd is acilve and LrdSi&Ukntiviis of an id¢ntiGal a3>ct ort th¢ir own are not 8 good estimste of fair value. the fair value is estimated by usu)g a valuaiion technique. 7 Incomc from don#tion$ ond leg4Ci4S Unrestricted funds General TotAI ruiids Grants. including Capital granlS- ranTS from othn from the charity diirin8 the yw. 9 Staff costs The aggrt¥ate payroll costs were follows: 2021 1021J Stsff costs durlng the yeor were: Wag¢s and salari SOCI￿ security costs nthe.r *tAff enstg 155,3?0 10.695 178.100 17.225 2.725 166.015 193.050 No eL)Iploy¢e r¢£i¥ vfiirt bttwt¢Ji fuNdJ UDre5trirt¢d rund$ CÈ#ÈrAI Totsl funds It 31 March 2021 Current assets 59.149 59.149 u￿r￿triC¢¢0 funds GeuerAI Total fund5 41 31 March 2020 Curreni Lssets Current liabililies 124,053 (5.498) 124.053 5.498) Tothl net assets If 118,555 118.555 17 Analysis of Det funds At l Aprll 2020 At JI March 2021 Cash at bank and in hand 118.286 118.286 Nel debt 118.286 At 1 .4pril 1019 118.286 A131 Mar¢h 1030 Cash ai bank and in hand 187,651 187,651 Net debt 187.651 137,651 Page 15