Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
**REGISTERED COMPANY NUMBER: SP002730 (Scotland) REGISTERED CHARITY NUMBER: SC042792**
Report of the Trustees and Unaudited Financial Statements for the Year Ended 1 April 2024
for
Heart of Scotstoun Limited
Bell Barr & Company Chartered Accountants
2 Stewart Street Milngavie Glasgow G62 6BW
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
Contents of the Financial Statements for the Year Ended 1 April 2024
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|4|
|Independent Examiner's Report||5||
|Statement of Financial Activities||6||
|Balance Sheet|7|to|8|
|Notes to the Financial Statements|9|to|14|
|Detailed Statement of Financial Activities|15|to|16|
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
## Report of the Trustees for the Year Ended 1 April 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 1 April 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Purposes and Objectives**
Our charitable purposes are:-
- Advance community development and regeneration by the establishment and management of a community centre
- Provide recreational facilities and support the provision of recreational services for the benefit of the community and the public in general
- Facilitate and encourage volunteering and work experience opportunities in the community. - Include Scotstoun residents in the ownership, development running and enjoyment of a thriving and sustainable community centre and garden
- Provide basic food needs to those in the local community who lack such
- Providing social, cultural, recreational and educational facilities that will improve the conditions of life for people in the community, particularly through the operation of the Heart of Scotstoun Community Centre
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Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
## Report of the Trustees
## for the Year Ended 1 April 2024
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities and achievements**
In the year 2023/2024-year gaps were identified within the existing room hire timetable and the historic discount structure was revised. This was achieved by collaborating with Just Enterprise and GCVS to evaluate current operations and identify improvement projects. This has resulted in a higher utilisation rate of the centre, and improved cashflow from increased bookings and accurate invoicing. This was in response to a more challenging environment for securing grants ensuring a secure future for the centre without compromising on charitable purposes as outlined in our constitution. A review of legacy processes, policies and systems established a plan to improve these. We assessed and prioritised operation risks within the centre and we are now subscribed and affiliated to an external H&S/HR provider, new invoicing software which is enhanced by a new POS system which saves on resources. This is critical in delivering our objectives whilst improving traceability, compliance and due diligence.
In January 2024 the community centre extended operational hours and days in response to needs of centre users. The centre is now opened 7 days per week, this has improved profitability, social impact, access and inclusion. In further response to community needs the centre is open on public holidays to minimise disruption of social isolation and recovery groups.
Volunteers remain a vital provision of services in every aspect of delivering our constitution and assisting around the centre. Several volunteers have progressed to employment within the community centre with the objective of progressing into permanent employment.
The Community Café operated significantly reduced hours in the initial months of 2023/2024. We have seen a pivot on this, and the café footfall and income increased substantially as a result of footfall from new groups and training events. Serving in an area where food insecurity is high, child poverty is prevalent and warm meals can be scarce the café responds to this by providing freshly cooked and nutritional meals at a reasonable cost. This is achieved by utilising produce from our partner Fair Share which significantly reduces operating costs which we pass on in our café pricing structure to centre users.
The Community shop continues to provide food Security which delivers extended benefits for users economically, health wise and with increased empowerment, environmental impact and improved financial stability. Evidence based findings prove this enhances social justice following Covid and in response to Cost-of-Living Crisis. Many local businesses continue to support this project with financial and tangible donations. Fair Share are a vital element of this provision and have provided additional support where possible, particularly when a decision was taken to reduce operating costs such as eliminating the centre vehicle, improving our carbon footprint and allowing funds to be redirected to improving our social impact. To meet demands for sanitary products we operate a permanent drive for such products and direct our centre users to sustainable options.
The Community Garden and its volunteers flourished, ensuring that continued maintenance and round the clock accessibility was preserved. In partnership with WSHA support was provided to enhance the volunteer base and increase Eco awareness whilst maintaining essential connections within the community and delivering projects within local schools. In an area where allotment space has an over ten-year waiting list the garden offers small plots on a low cost no cost basis. This is a vital resource for food security, social security, mental wellness and inclusion.
Community Groups which are home grown, and community led continue to thrive and access the many resources and facilities available, utilising our accessible, inclusive and safe space which eliminates barriers, food security and increases social inclusion. Additionally, several of these are overseen and managed by residents who have insight and personal experience of the challenges faced by our local community.
Our Scotstoun community centre welcomes more than 1200 visitors per week. This typifies our unconditional approach; we respond to need and demand from the community and keep our doors open to anyone.
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees policy is to retain 3 months' worth of normal running costs to meet commitments and to cover any unexpected expenditure. Three months expenditure stands at £50k and at the balance sheet date unrestricted reserves stood at £55k. Therefore, the trustees are satisfied that they hold sufficient reserves and additional funds will be reinvested in the development of the charity.
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Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
## Report of the Trustees
for the Year Ended 1 April 2024
## **FUTURE DEVELOPMENTS**
The coming year we will focus on stability and pilot several projects over a period of time, this will be backed by social impact evaluations and feedback to measure the success and identify improvements or changes to progress these or reevaluate within the community.
Community Space will continue to evolve with the many new partnerships and users. We will potentially assign a dedicated space for digital inclusion and drop ins.
The community Garden now has a five-year plan in place with a succession plan and a clear roadmap to connect the community.
The community Shop is under review and is being benchmarked against existing successful models. We plan to implement tried and tested systems which will improve the service. This will evolve constantly as policy drives change to eliminate the necessity for such services by eliminating food poverty.
The community Café will explore opportunities to cater for the third sector, provide Barista training to upskill the community which will enhance employment opportunities. Volunteers will remain an integral element in combatting isolation, increasing inclusion and providing experience to advance to employment opportunities.
We are collaborating with several services to asses our carbon footprint and raise awareness internally and externally. We now have a baseline score and a road map to vastly improve our current impact. Changes we have made include the café now collecting used products for recycling and we no longer have a vehicle. Future projects include investigating the viability of installing solar panels.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The organisation is registered under the Co-operative and Community Benefit Societies Act 2014. The company is also recognised as a charity by the Office of the Scottish Charity Regulator. The company is governed by its registered Rules.
## **Organisational Structure of the Charity**
Heart of Scotstoun Limited is managed by an elected Board of trustees which takes all strategic decisions and directs employed staff, including a centre manager, on the policies and practices which are to be used in the day-to-day running of the Heart of Scotstoun Community Centre.
## **Relationships**
Our key relationship is with the Glasgow Eco Trust who is the current legal owner of the centre.
## **Recruitment and Appointment of Committee Members**
The Board members are also charity trustees for the purposes of Charity law. The maximum number of Board members is 12. All Board members stand down at each AGM and an election takes place. Current Board members are already familiar with the practical work of the charity. New Board members receive appropriate training to familiarise themselves with the work of the organisation, its policies and practices and the responsibilities involved with being a charity trustee.
We were grateful for the refresher training on good governance Board members received this year via zoom from the Scottish Council for Voluntary Organisations (SCVO).
## **Equal Opportunities and Employees**
The centre operates an Equal Opportunities Policy.
## **Risk management**
Board members consider major business and operational risks which the centre faces, and monitors the measures which have been implemented to mitigate those risks through established reporting systems.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
SP002730 (Scotland)
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Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
Report of the Trustees for the Year Ended 1 April 2024
**Registered Charity number** SC042792
## **Registered office**
64 Balmoral Street Glasgow G14 0BL
## **Trustees**
## **Independent Examiner**
Bell Barr & Company Chartered Accountants 2 Stewart Street Milngavie Glasgow G62 6BW
## **Bankers**
Unity Trust Bank plc Nine Brindleyplace Birmingham B1 2HB
Approved by order of the board of trustees on 15 October 2024 and signed on its behalf by:
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Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
## Independent Examiner's Report to the Trustees of Heart of Scotstoun Limited
I report on the accounts for the year ended 1 April 2024 set out on pages six to fourteen.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply and that the Society can opt out of audit under Section 84 of the Co-Operative and Community Benefit Societies Act 2014. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 and in accordance with Section 85 of Co-Operative and Community Benefit Societies Act 2014. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention :
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
I confirm that the financial statements for the year ending 1 April 2024 are in agreement with the Society’s books and records as maintained under Section 75 of the Co-Operative and Community Benefit Societies Act 2014 and that the Statement of Financial Activities and Balance Sheet at 1 April 2024 comply with the requirement of the Act.
## **Statement in Connection with the Preceding Year**
In my opinion the financial criteria for the exercise of power conferred by Section 84 of the Act were met in relation to the preceding year.
Bell Barr & Company Chartered Accountants 2 Stewart Street Milngavie Glasgow G62 6BW
Date: .............................................
Page 5
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
## Heart of Scotstoun Limited
## Statement of Financial Activities
## for the Year Ended 1 April 2024
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
23,292
**Charitable activities**
Community centre
147,590
Other trading activities
2
-
Other income
232
**Total**
171,114
**EXPENDITURE ON**
**Charitable activities**
Community centre
174,054
**NET INCOME/(EXPENDITURE)**
(2,940)
**RECONCILIATION OF FUNDS**
Total funds brought forward
58,270
**TOTAL FUNDS CARRIED FORWARD**
55,330|Restricted
funds
£
2,000
46,000
-
-
48,000
41,473
6,527
13,931
20,458|1.4.24
Total
funds
£
25,292
193,590
-
232
219,114
215,527
3,587
72,201
75,788|1.4.23
Total
funds
£
11,993
191,691
3,125
232
207,041
233,651
(26,610)
98,811
72,201|
|---|---|---|---|
The notes form part of these financial statements
Page 6
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
## Heart of Scotstoun Limited
## Balance Sheet
## 1 April 2024
|Unrestricted
Restricted
funds
funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
6
2,661
2,887
**CURRENT ASSETS**
Stocks
7
1,314
-
Debtors
8
13,617
-
Cash at bank and in hand
43,810
23,808
58,741
23,808
**CREDITORS**
Amounts falling due within one year
9
(6,072)
(6,237)
**NET CURRENT ASSETS**
52,669
17,571
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
55,330
20,458
**NET ASSETS**
55,330
20,458
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|1.4.24
Total
funds
£
5,548
1,314
13,617
67,618
82,549
(12,309)
70,240
75,788
75,788
55,330
20,458
75,788|1.4.23
Total
funds
£
6,058
250
10,868
68,042
79,160
(13,017)
66,143
72,201
72,201
58,270
13,931
72,201|
|---|---|---|
The Society has opted out of audit under Section 84 of the Co-Operative and Community Benefit Societies Act 2014.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Section 75 of the Co-Operative and Community Benefit Societies Act 2014; and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Co-Operative and Community Benefit Societies Act 2014 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
## Balance Sheet - continued
1 April 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 14 October 2024 and were signed on its behalf by:
The notes form part of these financial statements
Page 8
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
Notes to the Financial Statements
for the Year Ended 1 April 2024
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees have reviewed the charity's operating costs for the next twelve months, and the sources of funds available, and are satisfied that the charity is a going concern.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Plant and machinery 15% on reducing balance - Computer equipment 33% on reducing balance
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Cash at bank**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.
## **Financial Instruments**
continued...
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Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
## Notes to the Financial Statements - continued
## for the Year Ended 1 April 2024
## **1. ACCOUNTING POLICIES - continued**
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. OTHER TRADING ACTIVITIES**
|**2.**|**OTHER TRADING ACTIVITIES**|||
|---|---|---|---|
|||1.4.24|1.4.23|
|||£|£|
||Fundraising events|-|3,125|
|**3.**|**NET INCOME/(EXPENDITURE)**|||
||Net income/(expenditure) is stated after charging/(crediting):|||
|||1.4.24|1.4.23|
|||£|£|
||Depreciation - owned assets|1,081|1,223|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 1 April 2024 nor for the year ended 1 April 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 1 April 2024 nor for the year ended 1 April 2023.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Cafe
Administration|1.4.24
4
6
10|1.4.23
8
3
11|
|---|---|---|
No employees received emoluments in excess of £60,000.
continued...
Page 10
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
## Heart of Scotstoun Limited
## Notes to the Financial Statements - continued
for the Year Ended 1 April 2024
## **6. TANGIBLE FIXED ASSETS**
|Freehold
Plant and
Computer
property
machinery
equipment
£
£
£
**COST**
At 2 April 2023
1
12,818
2,300
Additions
-
571
-
At 1 April 2024
1
13,389
2,300
**DEPRECIATION**
At 2 April 2023
-
7,246
1,815
Charge for year
-
921
160
At 1 April 2024
-
8,167
1,975
**NET BOOK VALUE**
At 1 April 2024
1
5,222
325
At 1 April 2023
1
5,572
485
**7.**
**STOCKS**
1.4.24
£
Stocks
1,314
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
1.4.24
£
Trade debtors
9,243
Sundry debtors
3,826
Prepayments and accrued income
548
13,617
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
1.4.24
£
Trade creditors
698
Other creditors
6,237
Accrued expenses
5,374
12,309|Freehold
Plant and
Computer
property
machinery
equipment
£
£
£
**COST**
At 2 April 2023
1
12,818
2,300
Additions
-
571
-
At 1 April 2024
1
13,389
2,300
**DEPRECIATION**
At 2 April 2023
-
7,246
1,815
Charge for year
-
921
160
At 1 April 2024
-
8,167
1,975
**NET BOOK VALUE**
At 1 April 2024
1
5,222
325
At 1 April 2023
1
5,572
485
**7.**
**STOCKS**
1.4.24
£
Stocks
1,314
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
1.4.24
£
Trade debtors
9,243
Sundry debtors
3,826
Prepayments and accrued income
548
13,617
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
1.4.24
£
Trade creditors
698
Other creditors
6,237
Accrued expenses
5,374
12,309|Totals
£
15,119
571
15,690
9,061
1,081
10,142
5,548
6,058
1.4.23
£
250
1.4.23
£
3,340
6,250
1,278
10,868
1.4.23
£
-
7,437
5,580
13,017|
|---|---|---|
||1.4.24
£
1,314
1.4.24
£
9,243
3,826
548
13,617
1.4.24
£
698
6,237
5,374
12,309||
continued...
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Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
## Heart of Scotstoun Limited
Notes to the Financial Statements - continued for the Year Ended 1 April 2024
## **10. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Share capital
**Restricted funds**
Glasgow City Council Area Committee
Glasgow City Council Composting
Green Garden
Family Food Fund (Scottish Power)
The National Lottery (Improving Lives
Medium)
Property Fund
The National Lottery (Core)
People's Postcode
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Glasgow City Council Area Committee
Glasgow City Council Composting
Green Garden
Family Food Fund (Scottish Power)
Kids Summer Camp
The National Lottery (Improving Lives
Medium)
The National Lottery (Core)
People's Postcode
Finance (J Mitchell)
**TOTAL FUNDS**|At 2.4.23
£
57,567
703
58,270
6,389
989
5,507
-
1,045
1
-
-
13,931
72,201
Incoming
resources
£
171,114
-
-
-
5,000
2,000
-
24,000
15,000
2,000
48,000
219,114|Net
movement
At
in funds
1.4.24
£
£
(2,940)
54,627
-
703
(2,940)
55,330
(6,389)
-
(148)
841
(5,090)
417
3,333
3,333
(157)
888
-
1
9,978
9,978
5,000
5,000
6,527
20,458
3,587
75,788
Resources
Movement
expended
in funds
£
£
(174,054)
(2,940)
(6,389)
(6,389)
(148)
(148)
(5,090)
(5,090)
(1,667)
3,333
(2,000)
-
(157)
(157)
(14,022)
9,978
(10,000)
5,000
(2,000)
-
(41,473)
6,527
(215,527)
3,587|
|---|---|---|
continued...
Page 12
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
Notes to the Financial Statements - continued for the Year Ended 1 April 2024
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 2.4.22
£
**Unrestricted funds**
General fund
86,933
Share capital
703
87,636
**Restricted funds**
Glasgow City Council Area Committee
8,112
People's Health Trust
21
Glasgow City Council Composting
1,163
Green Garden
649
The National Lottery (Improving Lives
Medium)
1,229
Property Fund
1
11,175
**TOTAL FUNDS**
98,811
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
148,989
**Restricted funds**
Glasgow City Council Area Committee
52,344
People's Health Trust
-
Glasgow City Council Composting
-
Green Garden
5,708
The National Lottery (Improving Lives
Medium)
-
58,052
**TOTAL FUNDS**
207,041|Net
movement
At
in funds
1.4.23
£
£
(29,366)
57,567
-
703
(29,366)
58,270
(1,723)
6,389
(21)
-
(174)
989
4,858
5,507
(184)
1,045
-
1
2,756
13,931
(26,610)
72,201
Resources
Movement
expended
in funds
£
£
(178,355)
(29,366)
(54,067)
(1,723)
(21)
(21)
(174)
(174)
(850)
4,858
(184)
(184)
(55,296)
2,756
(233,651)
(26,610)|
|---|---|
continued...
Page 13
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited
Notes to the Financial Statements - continued for the Year Ended 1 April 2024
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 1 April 2024.
## **12. FUND PURPOSES**
## **Glasgow City Council Area Fund**
The purpose of this fund is to assist with the costs of day trips and outings for the seniors lunch club.
## **Glasgow City Council Composting Funds**
The purpose of these funds is to provide composting and recycling facilities at the community centre.
## **Green Garden**
Run by local gardening volunteers at Heart of Scotstoun to develop and maintain the outdoors space at the Community Centre for local residents to make use of an outdoor space close to home with opportunities to engage in social contact. It aims to improve health and wellbeing amongst local residents and in particular encourage people suffering from social isolation to enjoy a pleasant recreational community space, participate in the community garden project or activities.
## **Property Fund**
This fund represents the nominal transfer value of the property which was acquired from Glasgow Eco Trust in 2022.
## **The National Lottery Community Fund (Improving Lives Medium)**
This funding is used to deliver community activities to people living in Scotstoun. Activities will include a community café, a men's game club, yoga for mental health, a parent and toddler group, and regular community events. The activities will encourage the local community to share skills,strengthen connections, reduce social isolation, and improve health and wellbeing.
## **The National Lottery Community Fund (Core)**
This funding supports our core activities developed by the community and delivered by our local volunteers. Through peer support they will strengthen our people's; resilience self worth confidence leadership skills; and paths to employment.
## **People's Postcode**
This fund covers services that support people experiencing poverty and living with long term impacts of poverty.
## **Family Food Fund**
This represents a donation from Scottish Power to support the community food store.
## **Finance ( )**
This fund represents a donation from June Mitchell to allow the charity to pay for additional finance support.
Page 14
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited Detailed Statement of Financial Activities for the Year Ended 1 April 2024
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Fundraising events
**Charitable activities**
Café and catering income
Room hire
Grants
**Other income**
Miscellaneous income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Sundries
Direct costs of room hire and catering
Cleaning and waste disposal
Building supplies and services
Travel
Bookkeeping fee
Payroll processing
Management support
Bank charges
Subscriptions & memberships
Computer expenses
Plant and machinery
Computer equipment
**Support costs**
**Governance costs**
Accountancy
Carried forward|1.4.24
£
25,292
-
49,103
67,189
77,298
193,590
232
219,114
117,142
2,250
1,905
5,637
7,249
33,252
1,810
2,784
13,860
4,137
8,190
-
4,831
1,159
1,266
1,016
2,156
2,081
922
160
211,807
2,220
2,220|1.4.23
£
11,993
3,125
46,043
41,172
104,476
191,691
232
207,041
123,900
2,401
2,240
5,630
6,162
29,379
1,771
2,370
20,009
1,587
3,941
70
6,840
2,065
13,280
2,004
6,243
917
983
239
232,031
1,620
1,620|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
## Heart of Scotstoun Limited
|Detailed Statement of Financial Activities
for the Year Ended 1 April 2024
**Governance costs**
Brought forward
Legal fees
Total resources expended
**Net income/(expenditure)**|1.4.24
£
2,220
1,500
3,720
215,527
3,587|1.4.23
£
1,620
-
1,620
233,651
(26,610)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
Docusign Envelope ID: 1A60AFA0-314B-4C00-8E48-B67D6A6C10A9
Heart of Scotstoun Limited 64 Balmoral Street Glasgow G14 0BL
Bell Barr & Company 2 Stewart Street Milngavie Glasgow G62 6BW
15 October 2024
Dear Sirs
We confirm to the best of our knowledge and belief, the following representations given to you in connection with your preparation of the financial statements and independent examination for the year ended 1 April 2024.
- 1 We confirm that the charity was entitled to opt-out of audit under section 84 of the Co-operative and Community Benefit Societies Act 2014.
- 2 We acknowledge our responsibility under the Co-operative and Community Benefit Societies Act 2014 for ensuring preparation of financial statements which give a true and fair view and for making accurate representations to you. All the accounting records have been made available to you and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of trustees and general meetings, have been made available to you.
- 3 We believe that it is appropriate for the charity’s financial statements to have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. We believe that no further disclosures relating to the charity’s ability to continue as a going concern need to be made in the financial statements.
- 4 Other than as already disclosed to you, we are not aware of any irregularities, including fraud, involving management or employees of the charity; nor are we aware of any breaches or possible breaches of statute, regulations, contracts, agreements or the company’s Memorandum and Articles of Association which might prejudice the charity’s going concern status or that might result in the charity suffering significant penalties or other loss.
- 5 The charity has not had nor entered into at any time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit facilities) for directors nor to guarantee or provide security for such matters.
- 6 We are not aware of any transactions with related parties requiring disclosure in the financial statements.
- 7 There have been no events since the balance sheet date which necessitate revision of the figures included in the financial statements or inclusion of a note thereto. Should further material events occur, which may necessitate revision of the figures included in the financial statements or inclusion of a note thereto, we will advise you accordingly.
- 8 All grants, donations and other incoming resources, the receipt of which is subject to specific terms or conditions, have been notified to you. Other than as already disclosed to you, there have been no breaches of terms or conditions in the application of such incoming resources.
We confirm that the above representations are made on the basis of enquiries of trustees and officers with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the above representations to you.
For and on behalf of the trustees and board of directors:
- Trustee