Charity registrat￿n number.. SC041189 Bonnyrigg Rose Charitable Society Annual Report and FIn￿e￿81 Ststements for the Year Ended 31 December 2023 Bonnyrigg Rose Charitable Society Contents (continued) Trustees, Report 1to3 Statement of Trustees, Resp)nsibilities Independent Examinerfs Report Statement of FinancLal Act[¥￿eS Balance Sheet Notes lo the Financial Statements 8t018 Bonnyrigg Rose Charitable Society Report of the Committee The CoMm￿ee presents the annual rw)rt together wrth the financial ststements of the charity for the year ended 31 December 2023. The financol ststemenls have been prepared in accordance with the accounting pol￿￿5 Set out in note 1 to Ihe accounts and ¢ompty wth the chartys trust deed, the Charrties and Trtsslee Investment Iscollandl Act 2005. the Charth"es Accounts (Scollandl Regulations 20C6 las amended) and Accounting and Reporting by Charrties". Statement of Recommeftded Practice applicable lo charrties preparing their accounts in accordance wrth the Financial Repoth'ng Standard applicable in the UK and Republic or Ireland published on 16 July 2014. Objectives and a¢tivitl•s Objectives. strategies and activities The objectives ol the s￿Iety are to pmide facilrties for such fomis of education. recreation and other leiSur￿lime occupalKJn as are conducwe lo the inprovement of the heahh. educalion. wel￿being and conditions of liwng for the Inhabrtants of Bonnyri9g and the surrounding areas provided that nothing herein contsined shall authorise the application of the Prcperty to puwes vthich are not Charrtable purposes. Our aim Is lo fa¢ilitate strong social connection5 and a sense of c(*mmunty for those local to Bonnyngg by providing a Safe place for people to gather where food and drinks are also available_ The s￿Iety shall not be ident[[￿d with any paty or sect. Financial review Policy on rese It is the policy of Bonnyngg Rose Charrtable Seciety lo remew the reserves cffi a regular basis. The present level of funding is adequate lo support the anti¢ipated level ¢)f èxpendsture during the year and for the foreseeable fvture. Invostmentpolfflcy and objectives The Conslitution aulhorises the Committee to make and hold investrnents using the general funds of the charty. bul no such investments are pre5entty held. Structure. governance and management Organisatlonal structure The trust Is an unincorpoialed registered charrty. nUm￿r SC041189 and i8 consbtuted under a twst d￿d which was last reviewed at the Annual General Meeting on 215t September 2021. PwJe 1 Bonnyrigg Rose Charitable Society Report of the Committee (continued) Major iisks andManag￿lent of those risks The committee actively review the mqor risks which the charty faces on a basis and believe that maintaining eserves * ¢urrenl ￿v￿S. ccqnbined %Mth an annual review of the controls over key financial systems. will provKle sufficient resources in the event of ajverse conditions. The committee have also examined other operations and business risks faced by the charity arKI confiffn thal they have established systerns lo mrtl9ale signrficant nsks. Financial Instruments ObJKtives andpolicies The charitys actNities expose rt to a number of financk81 risks includir¥J credit risk. cash flow risk and liquidity risk. The use of financial derivatives is govemed by the charty's polic￿$ approved by the bjard ol trustees. which pfovhle wrrtten princip￿$ on the use of financial derivatives lo manage these risks. The charity does not use derNatNe financial instruments for speculabve purp058s. Credit risk The chanvs prin¢ipal financHI assets are bank balances and cash, trade and other reeeivables. and inveslmenls. The charity's credit risk is primarity attributable to its trade ￿e1VableS. The amounts presented in the b31an¢e sheet are nel of alk)wances for doubtful receivables. An alk)wance for Impairment is made where there is an idenlrfied loss event which, ba￿ on previous exFerience. ￿ evhlence of a reducth.on in the recoverability ol the cash flows. The credit risk on IV4U￿ funds and derivative fina￿￿?1 instruments is limrted because the counlerpartW6 are banks wrth high credit4atings assigned by international ¢redrt-r8ting agences. The eharty has no signrficanl concentratson of credrt risk. ￿ exposure spread over a large number of nterparties and custorner$. Liquidityrisk In order lo maintain Iwuidty to ensure that sl￿￿lent funds are avaiLgble for ongoing operations and future developments. the charity uses a mixture of lorkg-temi and short4emi debt finance. Further details regarding I￿ul￿￿ risk can be fcNJnd in the Ststemenl of accounting poI￿leS in the financial ststemenls. Committee members and Key Management Personnel The COMMrtt￿ considers the membets as compnsing the key management personnel of the charity in ¢harge of directing and controlling the charity and njnning and operating the charty on a day to day basi5. The commrttee meet no less than once a year wrth an Annual General Meeting held following the year end lo elect members to the coMm￿ee and to receNe nOMinatK￿S. The members and officers seNng during the year and since the year end were as folhm." Page 2 Bonnyrigg Rosp Charitablg Society Report of Ihe Cornmittee (continued) Comrnittee members Ghaiman". Olh9r Officers". Secretary.. The annual re￿rt was approbpd by the tnjstees of thè Charity on 20 Séptembèr 2024 and sunod tsn its behalf by Page 3 Bonnyrigg Ros8 Charitable Society Responsibilities of the Committee The trustees are iesponsible for Prep￿n9 the trus;ee3' report an(1 the financial slalemenls in accordance wrth the United Kingdom Accounting Sta)dards (Unrted Kingdom Ganèralty Acceplod Accwnting Practicgl and appluble law and regulatic￿s. The •plicable to charrties in Sccrtland required the corntnrtiee ￿efflbet5 to prepare finanGial statements for earh y￿r which gr¥e a true and fair of the of stste of affairs of the charty and of the incoming resourrxs and 4)plicalion ol resourtes of the chanty for that w"od. In preparing the financial 8tstemgnts. the trustees arg requir&J to". select surtabie accouniing p￿l¢leS and then appty them ¢￿sistenty". observe the rnelhods and princyles in the chan1￿$ SORP", make jwlgemènts and estimates th* are ￿onable and pnjdent". stale whether applicabk aGcoutrting slandards have been folowej. sutr1.￿t to ary material departure? disclosed end explained in the financ￿1 Stalements. prepare the financk4 Stat￿entS on the gory concem tqsis ￿lesS rt Is InapprOpr￿le io presurne Ihat the tharity will ceniinue In business. The committee M￿berS are responsible for k￿pIng proKer accounting records th* disclose wf(h reason*le accuracy al any time the financ￿1 PDsthon oflhe charty and lo enable ttrern lo ensure that the financial statwnenls comply wrth the CharilEs and Trustee IrNestment Iscolarvjl Act 2005. Ihe Charity A¢c(yJnts Iseotlandl RegukAtign$ 20C6 las amendeal. and the provisKJns of the Trust Deed. They ale also responsible for safeguarding the assels of the charity ar￿ taking reasonatle steps lor the prevention an detectN￿ d fraud and other irregularitEs. The trustees are resp￿5*1¢ for the rnaInten￿ce and Inie9nty of the corporate and financial information irtluded on the charitable cunpanys websrte. Leg151alicn wverning Ihe prepliall￿ and dissemination of financia Statem￿15 may differ from legisLation ui other juri5diGliorts. Approved by the trustees of the charty on 20 September 2024 and signed on its behalf by Page 4 Bonnyrigg Rose charitable Society Independent Examiner's Re￿rt to the trustees of Bonnyrigg Rose Charitable Society I report on my examination of the accounts of 8onnyTW Rose charitab￿ SocEty for the sear ended 31 Decernber 2023. Respective responsibilitie5 of Trustees and Ex•min¥r The chartys trustees afe responsibk for the preparalKJn of the xcounls in accordarte wrth the terms of the Charrties and Tru5tee5 Inve51ment (Scotl￿dI Ad 2005 atKI Ihe Chaiilies Accounts {Scotland} Re9ulations 2006. The charty tru51ees Gon5ider Ihat that audit requtrement of Regulation 1011) lal lo Icl of the 20C6 Accounts Regulations does rbot apply. It is my respons¢oilty lo examine the aGcoLtnls as raquirod undor seeti£¥) 4411) {cl of thè Act and .10 slate whether parbcubr m*t?r$ havè ¢X)ma to my atténtion. Basis of Independent Examine¢s statement My examination 15 wried out in aCcOrdar￿ wlh Regulation 11 of the 2006 ACCO￿1$ Regul*KJns. An examination Inclu¢es a remew ol the accounting records kepl by the charrty aThJ a comparison of the accounts presented with those records. 11 also includes c(￿$￿eratIOn of any unusual rtems ￿ disck)sures in the ￿Th￿InIS and seeks expknatiws fi(yn the wmtnrtt* concernin9 any suth rnaVer3. The procedures undertaken thj not provide all the evidence Iha byould be required in an audrt and corBequently I do not express an audrt optnion on the given by the %count6. Independent Examinefs statemènt In the course ol my eiamination, no matter has ccmè to rry atenticn.. 1. wh￿h. giles me reason*le wse to believe that in any material respect the requirements; . To keep accounting records In accordance vAth Se￿1￿ 44111 lal of the 2005 Acl an Regulati￿ 4 of the 2Q06 Accounts Regulabons.. . To prepafe accounts which a¢￿d with xcounting recoids and ojrwply Nyth RegulatIc￿ 8 of the 2006 Accounts Regulabons Havo Trot been met. 2. To which, in my opmion. attention should be drawn in order to enabk a proper underslanding of the ac￿uNtS lo be reached. 20 September 2024 Page S Bonnyrigg Rose Charitable Society Statement of Financial Activities for the Year Ended 31 December 2023 Unrestricted fvnds Total 2023 Total 2022 Income and Endowments from: Donation5 and legacies Other trading aclmtses Total in¢(xne 4.500 183,964 146.625 146.625 146.625 146,625 188,464 Expenditure on: Raising funds Other trading aclmts.es 165.237} 122.984 {65 2371 1122,984 163,9941 130,579 Total expenditure 1188.2211 1188,221 1194,5731 Net expendi(u Nel movement in funds 41,596 41.596 6.109 141.596 {41.S%l 16,1091 Reconciliation of funds Total funds brought fO￿ard Total funds carr￿d forward 99.979 99.979 106.088 16 58.383 58.383 99.979 All of the charity's actNths derive fr￿ Continuing operab'ons during the above per￿s. The funds break¢SJvm fof 2022 Is shown in note 16. The notes on pages 8 to 18 form an integral part of these financ￿ ststement5. Page 6 Bonnyrlgg Rose Charltable Soclety (Registration number: SC0411891 8alance Sheet as at 31 December 2023 2023 2022 Note Fixed assets TaNJifJe assets 12 125,373 127.034 Cutrent assèts stocks Debto Cash at bank and n hand 13 5,831 300 1.710 7.538 3.13S 18.732 14 7,641 29.4C6 Creditors: Amounts falling due within one ye 15 174.631 56.4611 Net current liabilities 66,9901 127.0551 99.979 Net assets 58.383 Funds ofthe charity.. Unrestricted income fvnd$ Unrestricted funds 58,383 99,979 Total lunds 16 58,383 99,979 The finanGial Statements on pajes 6 to 18 approved by the trustees. and aulhoiised Ic*r is5￿ on 20 September 2024 and signed on behaw by.. The notes on pages 8 to 18 fom an integral part of tIEse stst￿ents. Page 7 Bonnyrigg Rose Charitable Society Notes to the Financial Statements for the Year Ended 31 December 2023 1 Accountlng policies ststement of complianc• The accounts If1nanckal statements) have been prepared under the historical cosl convent*on with rtems reeognised al cost or transaction value. The financial statements have been prepared In accordance with the stslement of Recommended Pract￿e. A¢￿UntIng and Reporting by Charrties preparing their accounts in accordance with the Financial Reporting Stsndard appllcable to the UK and Republ￿ of Ireland IFRS 1021 Issued on 16 Juty 2014 and the Financial Reporting Standard appluble in the Unrted Kingdom and Republic of Ireland IFRS 1021, the Charthes and Trustee Investsnent (Scotlandl Act 2005 and the Charities Accounts {Sco￿and) Regulations 2006 las amended). The trust constitutes a benefft entty as defined by FRS 102. The trustees consvjer that the￿ a￿ no material uncertainties about the Trust's abilty lo continue as a going concem. There are no areas of sunifKant adjustment or key assumptsr>ns lo note. Basls of preparatlon Bonnyrigg Rose Charit*)le meets the definrtK•n of a public beneff( entty under FRS 102. The accounts (financial slatemenlsl have been prepared under the historical cost convention wlh rtems recognised at cost or transaction value Ltnless otherwse st*ed in the relevant notes to these accounts. Exemption from p¥eparing a cash flow statement The ¢harty opted to earty adopt Bulletin 1 published on 2 February 2016 and have therefo￿ not included cash flow ststement in these financial slalements. Going concern Al the balance sheet dale. the charty had nel eurrerrt Irabilrties of £66.990 12022". £27.0551. The cornmrtt* has pledged to financialty support the charty for a period of at least 12 months from the sMJning dale of these financial slatement$ and therefofe feels rt is appropriate to prepare the accounts under the going concern basis. Income and endowments Voluntary income including donats'ons. gifts. lega¢w ￿(1 gfa)ts that Pfovide core funding or a￿ of a general nature Is recognised when the charty hès enlillement to the income. il is probable that the Income wll be receNed and the amount can be measured wrth sufficEnt relwbilty. Page 8 Bonnyrigg Rose Charitable Society Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Expenditure All expenditure is recc•Jnised On￿ there i% a IvJal or ￿StruCtiVe obligat*)n lo that expend((ure. il is probable settlement is required and the amount can be measured reliabty. All costs are allocated to the applicable expendrture heading that aggregate simikr costs lo th* cate90ry. Where costs cannot be directty attributed to particular headings they have been albcated on a basis consistent with the use of resources. with central staff costs alkJcaled on the basis of lime spent. and depreciation charges allocated on the portion ol the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable •¢livities Charitable expendi¢ure comprises those costs incuired by the charty in the delNery of rts aclivi(ies and serv￿eS for rts beneficiaries. It includes both costs that Can ￿ alkxated direclly to such aclivilie5 and those costs of an indirect nature necessary lo support them. Support costs Support cos15 include central functws arKI have been alk￿￿ed to actwty cost calegories on a basis consistent wrth the use of resources. for example. albocatsng propety costs by flcrf)r areas, or per caprta, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributsble to the chartys eomplkqnce conslrtuti¢)nal and statutory requ1￿mentS, including audrt. 5tsategi¢ management and trustees meetings and reimbursed expenses. Govemmènt grants Government grants are recognised based on the accrua mc*Jd and are measured al the fair value of the a55el received or receivable. Grants are ckssrfied as relating erther to revenue or lo assets. Grants Teialing to revenue are recognised In income over the period in wh￿h the relaled costs are recognised. Grants relatin9 to assets are recognised over the expected useful life of the asset. Where part of a grant relats'ThJ lo an asset is deferred. it is recognised as defer￿ I￿Orne. Taxation The charity is consKlered to pass the les15 set ¢xrt in Paragraph 1 Schedule 6 of the Fnance kt 2010 and therefore rt meets the definition of a charrtable company for UK corporation tsx purposes. Accordingly. the charty is potentialty exempt frcmn taxation in of inccme or capital gains re￿iVed wrthin categories covered by Chapter 3 Part 11 of the Corporation Tax A¢1 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such incorne or gains are applied exclusivèly to charitable purposes. Page 9 Bonnyrigg Rose Charitable Society Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Depreciation and amortisation Depreckqtion 15 pfovKted on langitAe f￿￿ed a5set5 so as to write off the cost or valuatK)n. lèss any estimated resKlual value. their expected useful econom￿ lrfe as folluws.. Asset class Buildings Fumilure and frttings Glasses Motor vehKle5 Plant and machinery DeprKi•tion method and rate 1% Straight line 5% Reducing balance 10% Straight line 250A Reducing balancg 25% Straight line Stock Stock is valued * the kA¥er of ¢ost and estsmated selling price less costs to Cfxnplete and sell. after due regard for obsc4ele and sknv moving st￿ks. C051 is determin&J using the first4n. first-out IFIFOI. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and dep05rts. Trade creditors TTade credrtors aare obligth.ons lo pay for goc#J5 or seMce5 that have been acquired in the ordinary course of business from suppliers. Accounts payable are dassrfied as current Iiabilrties rf the does not have an unconditional right. at the end of the reporting period. to deler settlement of the creditor for at least ￿ve1Ve months after the ￿pOrting date. If there Is an uncondrtional right to defer Sett￿ment for at least twelve rnonths after the reporting date. they are presented as nonJs sold 65.237 65.237 63,994 65.237 65.237 63,994 5 Expgndlture on othertradlng aclfvltles Unrestricted funds General Totsl 2023 Total 2022 Note Bar expenses Cabaret Licences All￿al¢l $￿pport costs All¢x*ed goveman¢e costs 65.237 350 391 86.511 35.732 65,237 350 391 86,511 35.732 63,994 3.445 389 90,724 36,021 188.221 188,221 194.573 Page 12 Bonnyrigg Rose Charitable Society Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 6 Analysis of govemance and support costs Support costs allocated to charitable activities Other support costs Goyemance costs Total 2023 Salaries, Eers Nl 8 pensIc￿$ Protective clolhinglunrfomis Insurance Telephone & broadband Electricrty Water rates Printing & stationary Cleaning 13,976 76 41.929 227 2.351 2.681 3.586 1.289 308 82 S5,￿5 303 3,135 3,S75 4,781 1.719 411 109 894 1.195 430 103 27 E lil Travelling Satellite rental & TV seNce5 Repairs & renewa15 Sundry expenses Donations Bank charges Other interest payatrAe Depreciation Motor Vehicle expenses Legal and professional 145 1.555 6.826 13 245 435 4.665 20,477 38 735 1,104 709 1.702 580 6.220 27,303 51 980 1,472 945 2.269 2.725 2,865 115,348 236 567 716 2.149 28.837 86.511 Page 13 Bonnyrigg Rose Charitable Society Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Oiher support costs Go¥eman costs Total 2022 Salaries. Eers Nl & pensions Protective clothinglunrforms Insurance Telephone & broadband Electricty Water Tates Printing & stationary Cleaning Travelling Satellite rental & TV serV￿S Repairs & renewals Sundry exFenses Don*ions Bank charges Other interest payable Depwialion 15,336 73 764 767 3.835 407 154 46,009 219 2.292 2,301 11.$05 1.220 462 33 1.327 6.019 12,299 2.016 893 1.138 1,231 1.760 61.345 292 3.056 3.068 15.340 1,627 616 442 1.769 8.025 16.399 2.689 1.191 1.517 1.641 2.346 4.100 673 379 410 30,241 90.724 120,965 In allocating other support costs. an aHCcat1￿ has been awared lo governance eosts on the pèrcentage of time allocated lo governance lime spent 125%). the remaining overhead has been alk)cated lo other SLtpport costs. There are then specrfic govemance costs which have been listed behx together Ynth rts overhead allocatson that has been noted above. Page 14 Bonnyrigg Rose Charttable Society Notes to the Financial Statements for the Year Ended 31 December 2023 {continued) Govemance costs Unrestric¢ed fvnds Ggn•ral Total 2023 Total 2022 Indewdenl examiner f*s Examination of the fin￿cial ststèments Other fees paid to eKaminèr$ All¢xated support GO8ts 2,150 4.745 28.837 2,150 4.745 28.837 650 5,13CI 30.241 35.732 35.732 36,021 7 Net Ineomlngloutgoing res0￿rC Net oulgung resources for the year include.. 2023 2022 Depreciation of fixed assets 2,269 8 Tru3tee3 remunevation and expenses Durng the year the charty made tre lolkm.ng transaCt￿)￿S wlh commrttee mernbws.. ived rernuneraion of £16.50412022." £14.2231 the year. ed rununeraton of £Nil {2022.. £3601 durng the ￿r. ived rernuneration 01 £6012022." £600) dLring wir. ceived r￿uneratIOn of £Nil12022'. £120) during yEar. d remuneration of £3)012022 £PJJOI during the year. Page 15 Bonnyrigg Rose Charitable Society Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 9 Stsff costs The aggreg*e payrdl costs were a$ I￿￿￿.. 2023 2022 Staff costs during the year wère: Wages 8nd salaries Pension costs 55.181 724 61.346 55.905 61,346 The monthly average number of persons lincluding senior management I leadership team) emptyd by the charty during the year expressed as full lime eqU￿a￿nIS was as foll¢y•VS". 2023 No 2022 The average number of employees during the year *as 13 Contributions lo the employee pensK)n schemes the year were £72412022 - £01 No employee receNed emoluments of more than £60.000 during the year. 10 Independent examinerfs remungration 2023 2022 Examinatson of the finartcol ststements 2.150 650 Other fees to examlners All other seivices 4,745 5.130 Other fees paid to examirers includes È1,75012022.. £3.4601 for bookkeeping seNce5 and £2,995 {2022'. £1.6701 for payroll services. Page 16 Bonnyrigg Rose Charitable Society Notes to the Financial Statements for the Year Ended 31 December 2023 {continued) 11 Taxation The charity is exempt from tsx on income an¢J gains lalling v￿h1n section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo rts charitable objects. 12 Tangible fixed assets Other tsngible fixèd Land and buildings Furniture and gquipment Motor vghiclos Total Cost At 1 January 2023 Addi(ions 117.975 82.885 2,250 24.472 227,582 608 At 31 Decemt*r 2023 117,975 83.493 2.2SO 24.472 228.190 Depreclatlon Al 1 January 2023 Charge for the year 5.899 1.180 69.618 667 559 422 24.472 100.548 2,269 At 31 December 2023 7.079 70.285 981 24,472 102,817 Net book valu At 31 December 2023 110.896 13.208 1,269 125.373 Al 31 December 2022 112.076 13.267 1,691 127.034 13 Stock 2023 2022 Stoeks 5.631 7.538 Page 17 Bonnyrigg Rose Charitable Society Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 14 Cash and cash equlvalents 2023 2022 Cash on hand Cash al bank 1.710 893 17.839 1.710 18.732 15 Credltors: amounts falllng due within one year 2023 2022 Bank overdrafts Trade creditors Other taxal￿n and security Other cre(litors Accfuals 4.421 717 66.621 1.213 1.659 2.325 51.475 1.161 1.500 74.631 56.461 16 Funds Balan￿ at 31 December 2023 8alance at I January 2023 Incoming resources Resources expended Unrestricted funds General 99.979 146.625 188.221 58.383 Page 18