**Company Registration No. SC299708 Charity Registration No. SC037685** ## **BALLOCH VILLAGE TRUST COMMUNITY COMPANY** ## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2024** ## **BALLOCH VILLAGE TRUST COMMUNITY COMPANY (COMPANY LIMITED BY GUARANTEE)** |**CONTENTS**|**PAGE**| |---|---| |Trustees' Annual Report|**1-3**| |Independent Examiner's Report|**4**| |Statement of Financial Activities (incorporating the income and expenditure account)|**5**| |Balance Sheet|**6**| |Notes to the Financial Statements|**7-9**| ## **BALLOCH VILLAGE TRUST COMMUNITY COMPANY (COMPANY LIMITED BY GUARANTEE)** ## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024** The trustees, who are also directors for the purpose of company law, present their annual report and the unaudited financial statements of the charity for the period ended 31 March 2023. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered charity name** Balloch Village Trust Community Company **Charity registration number** SC037685 **Company registration number** SC299708 **Registered office 49, Braeside Park, Balloch, Inverness, Highland, Scotland, IV2 7HN** ## **The Trustees** The trustees under charity law, who are also the directors under company law, who served the charity during the period are as follows: _(E = Elected, C = Co-opted, A = Appointed by Balloch Community Council)_ ## **Company Secretary** ## **Bankers** Bank of Scotland 2-6 Eastgate Inverness IV2 3NA ## **Independent Examiner** Page 1 of 9 ## **BALLOCH VILLAGE TRUST COMMUNITY COMPANY** ## **(COMPANY LIMITED BY GUARANTEE)** **TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024** ## **Structure, Governance and Management** Balloch Village Trust Community Company ("Balloch Village Trust") is a company limited by guarantee, incorporated on 28th March 2006 with no share capital, and is recognised by Her Majesty's Revenue and Customs (HMRC) as a Scottish Charity. Balloch Villag Trust became a SCIO in 2023. The Trustees, who are also directors, are responsible to the members for the running of the company. Elected Trustees can hold office for five years, after which time they must be out of office for at least a year before being eligible for re-election. Balloch Community Council may appoint up to three Trustees. Additionally, the Trustees may appoint up to three Co-opted Directors. The administration and function of the company is governed by its articles of association. ## **Objects and Activities** The objects of Balloch Village Trust are to manage community land and associated assets for the benefit of the Balloch Community (as defined in the articles of association) and the public in general, and also to promote the benefit of the inhabitants of the Community by associating with local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide recreational facilities, following principles of sustainable development and in the interests of social welfare. The company's main activities during the financial period included: Managing the play park. Manage BVT Facebook page and ensure friends of BVT and local community are kept up to date. Consult with community regarding development plans for the area. Liaising with local authority regarding potential community asset transfers. Recruiting and appointing new directors. Organizing a Christmas Carol concert for the village. ## **Financial Review and Reserves Policy** Unrestricted and restricted income during this period was nil. The company incurred costs of £35.00 on unrestricted costs. This was for the Information Commissioners Office fee. Costs for restricted funds were £573, which was the payment for the play park insurance and replacing damaged swing basket component. Insurance will not be required next year for the park as Highland council are covering it. The General Fund represents the unrestricted funds arising from past operating results. It also represents the free reserves of the charity which are available to be used for future operations. As the charity has neither employees nor premises, its fixed costs are very modest, and the trustees **therefore feel that a reserves policy is not required.** Page 2 of 9 ## **BALLOCH VILLAGE TRUST COMMUNITY COMPANY (COMPANY LIMITED BY GUARANTEE)** ## **TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024** ## **Future Plans and Activities** The company's Development Strategy 2012-2027 lists 13 points which the organisation hopes to pursue throughout future years, for example increasing membership to at least 10% of the Community, and linking the Culloden Moor and Forest circular path with the Balloch Community Woodland paths and also the paths in the adjoining Moray Estates woodlands. Balloch Village Trust is continuing to engage with the local council regarding the possibility of community asset transfer. As a group we are interested in what could be available and how this could be utilised by Balloch Village Trust for the benefit of the Balloch community. During 2023-24, the park has been maintained. This will be taken over by Highland Council. The Balloch Village Trust has found it challenging to recruit more directors and continue to drive projects forward. This is something we are prioritising as the current directors are struggling to find time due to work and family commitments. That being said we held a highly successful carol concert this year with positive feedback from the community. 29/12/2024 Page 3 of 9 BALLOCH VILLAGE TRUST COMMUNITY COMPANY (COMPANY LIMITED BY GUARANTEE) ## INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examiner's report to the trustees on the unaudited financial statements of Balloch Village Trust Community Company I report on the accounts for the period ended 31 March 2024 set out on pages 5 to 9. ## **Respective responsibilities of trustees and independent examiner** The charity's trustees (who are also directors of the company for purposes of company law) are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (the Act) and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to state, on the basis of my examination as required under section 44(1) (c) of the Act, whether particular matters have come to my attention. ## **Basis of Independent examiner's statement** My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the 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 whether the accounts present a 'true and fair view'. Independent examiner's statement In the course of my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements: - [proper accounting records are kept 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 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. 29/12/2024 Page 4 of 9 ## **BALLOCH VILLAGE TRUST COMMUNITY COMPANY** ## **(COMPANY LIMITED BY GUARANTEE)** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023** |**Notes**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**2**
Other trading activities
**3**
Investments
Charitable activities
**Total Incoming Resources**
**EXPENDITURE ON**
Raising funds
**4**
Charitable activities (inc. Governance costs)
**5**
**Total resources expended**
**RECONCILIATION OF FUNDS**
**6**
Total funds brought forward
Purchase of Fixed Assets
Net Income / (Expenditure) for year prior to depreciation
**Total funds at 31 March 2023**|**£**
**£**
**£**
£
-
-
**-**
474
-
**-**
-
-
-
**-**
-
-
-
**-**
-
**Unrestricted**
**Restricted**
**Total**
Total
**Funds**
**Funds**
**Funds**
Funds
**2024**
**2024**
**2024**
2023| |---|---| ||**-**
**-**
**-**
474| ||-
-
**-**
-
35
573
**608**
854| ||110
2,381
**2.491**
-
-
(35)
(573)
(608)
(257)
**35**
**573**
**608**
854| ||**75**
**1,808**
**1,883**
**2,491**| Page 5 of 9 ## **BALLOCH VILLAGE TRUST COMMUNITY COMPANY** ## **(COMPANY LIMITED BY GUARANTEE)** ## **BALANCE SHEET** ## **AS AT 31 MARCH 2024** |**Notes**
**FIXED ASSETS**
Tangible assets
**8**
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
**6**
**TOTAL FUNDS**
General fund
Restricted funds:
Fixed Asset Fund
Playpark Fund
**CURRENT ASSETS**
Debtors
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
**9**|-
-
**-**
**8,699**
75
1,808
**1,883**
**11,190**
**Unrestricted**
**Restricted**
**Total**
Total
**Funds**
**Funds**
**Funds**
Funds
**2024**
**2024**
**2024**
2023
**£**
**£**
**£**
£
75
1,808
**1,883**
**2,491**
75
1,808
**1,883**
**11,190**
110
1,808
**1,883**
**11,190**
**75**
110
**-**
-
**1808**
**2381**
**1,883**
**2,491**
-
-
**-**
-
75
1,808
**1,884**
**2,491**
-
**-**|-
-
**-**
**8,699**
75
1,808
**1,883**
**11,190**
**Unrestricted**
**Restricted**
**Total**
Total
**Funds**
**Funds**
**Funds**
Funds
**2024**
**2024**
**2024**
2023
**£**
**£**
**£**
£
75
1,808
**1,883**
**2,491**
75
1,808
**1,883**
**11,190**
110
1,808
**1,883**
**11,190**
**75**
110
**-**
-
**1808**
**2381**
**1,883**
**2,491**
-
-
**-**
-
75
1,808
**1,884**
**2,491**
-
**-**| |---|---|---| |||**1,883**
**11,190**

**-**| |||**1,883**
**2,491**| |||**1,883**
**11,190**
**1,883**
**11,190**
**75**
110
**-**
-
**1808**
**2381**| ||110
1,808|| |||| |||**1,883**
**2,491**| The trustees are satisfied that the charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for v the period by virtue of section 477, and that no member has requested The trustees acknowledge their responsibilities for: i. ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act; and ii. preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year in accordance with the requirements of section 393 and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity. These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. These financial statements were approved by the trustees on 29/12/2024 and are signed on their behalf by: Date 29/12/2024 Page 6 of 9 **BALLOCH VILLAGE TRUST COMMUNITY COMPANY (COMPANY LIMITED BY GUARANTEE)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The financial statements have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP (FRS 102), effective 1 January 2015) and the Companies Act 2006. ## **Incoming resources** Incoming resources are recognised in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Grants receivable are only recognised when the conditions for receipt have been met in full and there is a reasonable assurance of receipt. As a result, some grant income may have been treated as deferred income. ## **Resources expended** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. ## **Tangible fixed assets** Items of a capital nature are capitalised and depreciated in equal instalments over their expected useful life. Depreciation is charged at 20% using the straight line method. ## **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 purposes. ## **Value Added Tax** The company is not registered for VAT. ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |Membership subscriptions|-|-| |Donations|-|474| |Sundry income|-|| ||-|474| Grants received, included in the above, are as follows: |Paths for All
Highland Council Ward funding
ScotMid
Balloch Community Council
Misc Donations under £1000
**3.**
**OTHER TRADING ACTIVITIES**|**2024**
**2023**
£
£
-
-
-
-
-
-
-
474
-
-| |---|---| ||-
474| ||**2024**
**2023**
**£**
**£**
Nil
Nil| Page 7 of 9 BALLOCHVIiiA6ETRUSTCOMMUNITYCOMPANY (COMPANY LIMITEDBYGUARANTEEI IIOTESTOIHE FINANCIALSTATEMENT5 {¢th￿￿￿ed) EXPENDITiItE ON RAJ51￿ FVNDS 2023 2024 Promoiionand publklty Printingand5tstionEry Repairsand rnaInt￿￿n¢e EXPEIJDITiK¢E ON CMM¢ITAOLE ArnWTIES Unre5trirted Restricted 24 23 Hall booking fees for events 112 Wicksteed Leisure 65 65 Signage Insurance 234 508 508 474 ICO fee 35 35 35 Total 35 573 608 854 MENTIN FIINDS Atoil0412023 Inf￿ndS Translets At 3V0311024 vnrestrkted lund$ Generalfund iio 75 Restrirted fu FixEd A55EtFund 2.381 L8DB TrtaI￿nds 2,491 L883 AP&AL￿51￿ NE[A%￿S￿[[wEEN FUNDS Ge￿ra1 Fund FlxedA55et F￿nd Fu￿d baa￿£￿5 at31 Marth204aieRwurtedbv'. (UVrentA5￿15 Debtorsand Prepayn*nts 8ankand Cash 75 Cuvrent￿ab1ft￿s creditorsand pttruals Page8ofg BALLOCH VILLAGE TRUST COMMUNrtY COMPANY (COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS fcontlnuedj FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED A55ET5 Epulpment Balloch Play Park Equiptment. Located at Balloch playing field, Inverness Cosr i"April 2019 Depre¢iation At l April 2019 Charge for year- 2(pkn siraight Line. 8,697. ElimiDaied on disposal 43,487 2020 34,790 26,093 2021 2022 17,396 2023 2024 Nil salva e value onl Total Depreciation at 31 March 2024 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 20Z3 Deferred Income: Total deferred funds io. TRUSTEES, REMUNERATION AND BENEFITS There we¥e no Irustees, remune¥ation or othei benefiis for the yeai ended 31 March 202312022 Nil). Tn￿tee5. Expenses NIA ii. STAFF COSTS Balloch Village TIu5t doe5 not employ any staff. ULTIMATE CONTROLLING PARTY Balloch Village Trusi is a charitable company limited by 8uarantee and not having a share capital. The liability of each member is limited to £1 in the event of the company being wound up. The charity is controlled by the Board of Trustees. No one person exercises control ovei the charity. Page9of9