OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-09-30-accounts

REGISTERED COMPANY NUMBER: CS001584 (Scotland) REGISTERED CHARITY NUMBER: SC045120

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

THE CLUTHA TRUST

Bannerman Johnstone Maclay Chartered Accountants and Statutory Auditor 213 St Vincent Street Glasgow G2 5QY

THE CLUTHA TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 20
Detailed Statement of Financial Activities 21 to 22

THE CLUTHA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 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 30 September 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 Objectives and aims

The Clutha Trust was legally constituted by Trust Deed on 22 September 2014.

The Trust's principal objective as defined in the Deed of Trust is to raise and administer funds for the advancement of the arts, heritage or science, and to provide relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage. The aim is to help disadvantaged young people through the arts being the original purpose, as well as helping people experiencing poverty through the Cost-of Living crisis etc.

The Trust's primary source of finance in the year was funds received from the recently transferred bar trade of The Clutha Bar, with music festivals accounting for the remainder of the income.

Donations are made at the sole discretion of the Trustees as they see fit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

We continued to support many charities by providing office space and furniture at our charity hub located at 450 Argyle Street, Glasgow. The hub accommodate around 15 charities and community groups. Some charities contribute to the upkeep of the hub, including utility costs and repairs, but for those who cannot afford these costs, the Clutha Trust bears these costs.

The charities range from Healing for the Heart, which is a Counselling Service that allows people to self-refer, to Sporting Chances, which offers people access to sporting opportunities. Community groups include theatre groups who use the facilities for rehearsals and workshops, an addiction support group, and a community Brass Band, and Ukrainian camouflage makers. This offers valuable space to small charities who otherwise could not afford this type of space. The charities all interact with one another, sharing resources.

Funds allocated to premises expenses, including lighting, heating, repairs, insurance, and other costs, amount to £35,000. This allows other charities and groups to use the facility free of charge.

Clutha Kids

The Clutha Kids have expanded this year due to the collaboration with City Records. We can now offer professional recording and voice coaching.

Over 380 kids have passed through Clutha Kids initiative. Many are gaining successful careers in the music industry. They include some signed by major labels, as well as UK tours, produced singles and albums, and appearances on The Voice Kids and Britain's Got Talent. Most will be appearing at the upcoming street festivals. A number appeared on the Clutha music stage at Glasgow Winterfest.

Page 1

THE CLUTHA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

CAST

This year has been more about developing ideas for future productions. Most CAST members have been working with professional productions, which is the aim of CAST to help young actors find good parts. CAST members use the rehearsal space at Argyle Street. Cost is incorporated in premises expenses.

Clutha Pizza

The supply of Clutha pizza to Groups, charities, schools and individuals is proving to be very popular. This year we have supplied £40,000. Costs are incorporated within the bar expenses.

Art Supply

We continue to supply art materials and lessons to schools. £5,000 of funds have been allocated to this.

Glasgow Winterfest

The Trust, via the bar entertainment, supplied the bands for the Christmas festival. Costs are incorporated within the Clutha Bar entertainment budget. Winterfest cost £18,000. This included paying a performance fee to young bands and wages to crew members, including those for sounds and lighting. The stage gave young people the chance to perform in front of a large audience. The Winterfest raised over £35,000.

Office Furniture Donations

We continue to supply charities and organisations with office furniture. Our stocks are running low and it proves to be very labour intensive. Furniture supplied this year was around £20,000. We will eventually run down this part of the charity. Although we still pass on donations when we are offered them.

Clutha Choir

The Clutha Choir continues to be very successful and rehearses every week at our charity hub at no cost.

Musical Instrument Donation

Most musical instruments are donated to us. However, we do buy some when we are out of donations. These are then repaired and supplied to other charities and schools when requested. Cost of repairs are incorporated within our wages.

Clutha TV

Clutha TV produced two short films during this period, the cost of which was incorporated within our wages.

FINANCIAL REVIEW

Financial position

During the year under review, the charity received income of £1,098,639 (2023: £656,884), incurred costs in generating these funds of £1,078,040 (2023: £717,696) and made donations of £23,524 (2023: £64,720) resulting in a deficit of £2,925 (2023: £125,532). Total funds at the year-end were in a deficit of £7,400 (2023: £4,472).

Reserves policy

The Clutha Trust aims to maintain sufficient funds in our bank account to meet both planned and unplanned expenditures, but to also demonstrate to potential funders that we also have the ability to raise funds through our ongoing fundraising activities and by developing positive and long - term relationships with individuals, user groups and other interested parties.

Page 2

THE CLUTHA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

FINANCIAL REVIEW

Going concern

The charity has made a small deficit in the year and is carrying a small deficit of total funds. However, the trustees remain confident that the trust can continue to operate and is pleased to report an improving position since the end of the financial year.

On the basis of this information, the trustees consider it appropriate to prepare the financial statements on the going concern basis.

FUTURE PLANS

One of the aims of The Clutha Trust in the coming years would be to operate the complete building at The Clutha Bar location. This would increase the income generated by the charity, which in turn would allow The Clutha Trust to expand its charitable activities. A feasibility study has been carried out, partly funded by Scottish Enterprise, but it still remains in the early stages of development. The trustees are currently in discussions with investors that are showing significant interest in assisting the Trust and its future operations.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a SCIO (Scottish Charitable Incorporated Organisation), as defined by the The Scottish Charitable Incorporated Organisations Regulations 2011.

Recruitment and appointment of new trustees

The Trust currently has 3 Trustees. Were there to be a requirement for new trustees, these would be identified and appointed by the remaining trustees.

Related parties

The Clutha Trust is an independent charity, but it is also related to Firthport Limited, which is under the control of one of the trustees. Firthport Limited rents the property that the bar operates from at a cost of £75,000 per year.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

CS001584 (Scotland)

Registered Charity number

SC045120

Registered office

50a Shawmoss Road Glasgow G41 4AD

Trustees

Auditors

Bannerman Johnstone Maclay Chartered Accountants and Statutory Auditor 213 St Vincent Street Glasgow G2 5QY

Page 3

THE CLUTHA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Clutha Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Bannerman Johnstone Maclay, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 26 June 2025 and signed on its behalf by:

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CLUTHA TRUST

Opinion

We have audited the financial statements of The Clutha Trust (the 'charitable company') for the year ended 30 September 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CLUTHA TRUST

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CLUTHA TRUST Us¢ of tyjr report This rwrt is rnade solely to the charitabl¢ ¢oMpan￿5 tnJSte￿ u a body, in accordance with Rr¥uldlion 10 of the Charities Accounts (Scoiland} Regulation$ 2006. Our audit work has bern undertakcn so that wc Tnight state lo th¢ charitsble COTnpany's tru51ees those mqtteTS we are requir￿ to state to thern in an auditors, r¢port and for no oth purwse. To the fullest extent permitted by law, we do noi a¢¢tpt assume resrrf)nsibility to anyo￿ othtr than the hdritable company and the eharitable company's thjskcs as a tKKly, for our audit worl for this r¢wt, or for the opinions we have fonncd. Bannemian Johnstone Maclay Ctarterd A￿OuntantS and Statutory Auditor Eligible to oct ￿ an auditor in of Section 1212 of the Companies A¢t 2W6 213 St Vin¢¢nt Str¢ Glas8OW G2 5QY 26 Jun¢ 2025 Pag6 7

THE CLUTHA TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Supporting disadvantaged young people through
the arts
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
359,521
732,361
1,091,882
1,062,379
8,904
23,524
1,094,807
(2,925)
(4,475)
(7,400)		 Restricted
funds
£
6,757
-
6,757
6,757
-
-
6,757
-
-
-		 2024
Total
funds
£
366,278
732,361
1,098,639
1,069,136
8,904
23,524
1,101,564
(2,925)
(4,475)
(7,400)		 2023
Total
funds
£
240,113
416,771
656,884
708,346
9,350
64,720
782,416
(125,532)
121,057
(4,475)

The notes form part of these financial statements

Page 8

THE CLUTHA TRUST

BALANCE SHEET 30 SEPTEMBER 2024

Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
10
14,756
-
CURRENT ASSETS
Stocks
11
10,171
-
Debtors
12
18,655
-
Cash at bank
17,033
-
45,859
-
CREDITORS
Amounts falling due within one year
13
(68,015)
-
NET CURRENT ASSETS/(LIABILITIES)
(22,156)
-
TOTAL ASSETS LESS CURRENT
LIABILITIES
(7,400)
-
NET ASSETS/(LIABILITIES)
(7,400)
-
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 2024
Total
funds
£
14,756
10,171
18,655
17,033
45,859
(68,015)
(22,156)
(7,400)
(7,400)
(7,400)
(7,400)		 2023
Total
funds
£
3,987
14,200
12,114
9,845
36,159
(44,621)
(8,462)
(4,475)
(4,475)
(4,475)
(4,475)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005.

The notes form part of these financial statements

continued...

Page 9

THE CLUTHA TRUST

BALANCE SHEET - continued 30 SEPTEMBER 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 26 June 2025 and were signed on its behalf by:

The notes form part of these financial statements

Page 10

THE CLUTHA TRUST

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
28,528
(4,140)
24,388
(17,200)
(17,200)
7,188
9,845
17,033		 2023
£
(32,331)
(2,754)
(35,085)
(139)
(139)
(35,224)
45,069
9,845

The notes form part of these financial statements

Page 11

THE CLUTHA TRUST

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM
ACTIVITIES
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Finance costs
Decrease in stocks
Increase in debtors
Increase in creditors
Net cash provided by/(used in) operations
2.
ANALYSIS OF CHANGES IN NET FUNDS		 OPERATING
2024
£
(2,925)
6,431
4,140
4,029
(6,541)
23,394
28,528		 2023
£
(125,532)
9,623
2,754
45,800
(7,548)
42,572
(32,331)
At
Net cash
Cash at bank
Total		 1.10.23
Cash flow
At
£
£
9,845
7,188
9,845
7,188
9,845
7,188		 30.9.24
£
17,033
17,033
17,033

The notes form part of these financial statements

Page 12

THE CLUTHA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 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 charity, as of 30 September 2024, had a deficit of funds totalling £7,400. The Trustees note that this position has arisen mainly in the transitional period following the transfer of the trade of The Clutha Bar.

The Trustees are committed to an ongoing review of income generation and the charitable activities, with several events and festivals being planned for The Clutha Bar that should provide additional funding for the charity. On the basis of this information, the Trustees consider it appropriate to prepare the financial statements on the going concern basis.

The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

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

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost Motor vehicles - 33% on cost

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.

continued...

Page 13

THE CLUTHA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. ACCOUNTING POLICIES - continued

Fund accounting

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.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Trade and other debtors are recognised at the settlement amount.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Trade and other creditors are recognised at their settlement amount.

2. DONATIONS AND LEGACIES

Donations
Grants
Grants received, included in the above, are as follows:
Glasgow Guarantee
Awards for all
Other grants		 2024
£
351,521
14,757
366,278
2024
£
6,757
-
8,000
14,757		 2023
£
207,753
32,360		 2023
£
207,753
32,360
240,113
2023
£
22,360
10,000
-
32,360

continued...

Page 14

THE CLUTHA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
Other income
Bar income		 2024
£
-
732,361
732,361		 2023
£
5,300
411,471
416,771

4. RAISING FUNDS

Raising donations and legacies

Staff costs
Rent, rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Musical consumables and repair
Motor and travel expenses
Professional fees
Repairs and renewals
Premises expenses
IT expenses
Advertising
Sundry expenses
Depreciation
Interest payable and similar charges
Other trading activities
Purchases
Staff costs
Rent, rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Motor and travel expenses
Repairs and renewals
Premises expenses
IT expenses
Advertising
Sundry expenses
Bank charges		 2024
£
62,047
2,003
5,184
12,139
4,512
93
7,008
7,265
33,022
23,032
3,041
3,105
2,065
8,060
6,431
281
179,288
2024
£
471,253
267,178
77,763
1,898
10,477
352
88
-
11,368
22,826
47
1,939
20,800
3,859
889,848		 2023
£
74,567
662
900
82,448
4,327
175
4,123
8,629
23,200
4,497
19,067
1,607
891
4,739
9,623
136
239,591
2023
£
275,472
126,695
36,282
5,276
7,578
188
22
300
7,930
5,780
-
161
453
2,618
468,755

Page 15

continued...

THE CLUTHA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.
RAISING FUNDS - continued
Aggregate amounts
5.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Supporting disadvantaged young people
through the arts
2,554
6.
SUPPORT COSTS
Supporting disadvantaged young people
through the arts
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Other non-audit services
Depreciation - owned assets		 1,069,136
Support
costs (see
note 6)
£
6,350
2024
£
3,500
2,850
6,431		 708,346
Totals
£
8,904
Governance
costs
£
6,350
2023
£
3,500
5,850
9,624

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
311,398
13,133
4,694
329,225		 2023
£
189,755
8,314
3,193
201,262

Page 16

continued...

THE CLUTHA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Charity staff
Bar staff		 2024
3
16
19		 2023
2
5
7

No employees received emoluments in excess of £60,000.

10.
TANGIBLE FIXED ASSETS
COST
At 1 October 2023
Additions
At 30 September 2024
DEPRECIATION
At 1 October 2023
Charge for year
At 30 September 2024
NET BOOK VALUE
At 30 September 2024
At 30 September 2023
11.
STOCKS
Stocks
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Amounts owed by participating interests
Prepayments and accrued income		 Fixtures
and
fittings
£
11,356
17,200
28,556
7,369
6,431
13,800
14,756
3,987		 Motor
vehicles
£
22,470
-
22,470
22,470
-
22,470
-
-
2024
£
10,171
2024
£
12,658
-
5,997
18,655		 Totals
£
33,826
17,200
51,026
29,839
6,431
36,270
14,756
3,987
2023
£
14,200
2023
£
5,114
7,000
-
12,114

continued...

Page 17

THE CLUTHA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses		 2024
£
19,657
29,147
13,201
1,327
4,683
68,015		 2023
£
2,663
17,732
11,711
3,823
8,692
44,621
14.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Glasgow Guarantee
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 At
1.10.23
£
(4,475)
(4,475)
Incoming
resources
£
1,091,882
6,757
1,098,639
At
1.10.22
£
121,057
121,057		 Net
movement
in funds
£
(2,925)
(2,925)
Resources
expended
£
(1,094,807 )
(6,757)
(1,101,564 )
Net
movement
in funds
£
(125,532)
(125,532)		 At
30.9.24
£
(7,400)
(7,400)
Movement
in funds
£
(2,925)
-		 At
30.9.24
£
(7,400)
(7,400)
Movement
in funds
£
(2,925)
-
(2,925)
At
30.9.23
£
(4,475)
(4,475)

continued...

Page 18

THE CLUTHA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Glasgow Guarantee
TOTAL FUNDS		 Incoming
resources
£
634,524
22,360
656,884		 Resources
Movement
expended
in funds
£
£
(760,056)
(125,532)
(22,360)
-
(782,416)
(125,532)

A current year 12 months and prior year 12 months combined position is as follows:

Net
At movement At
1.10.22 in funds 30.9.24
£ £ £
Unrestricted funds
General fund 121,057 (128,457) (7,400)
TOTAL FUNDS 121,057 (128,457) (7,400)

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Glasgow Guarantee
TOTAL FUNDS		 Incoming
resources
£
1,726,406
29,117
1,755,523		 Resources
expended
£
(1,854,863 )
(29,117)
(1,883,980 )		 Movement
in funds
£
(128,457)
-
(128,457)

Glasgow Guarantee: Contribution for employment support in the local community.

continued...

Page 19

THE CLUTHA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

15. RELATED PARTY DISCLOSURES

Rent is payable to Firthport Limited, a company under the control of one of the trustees, at a cost of £75,000 per annum.

Page 20

THE CLUTHA TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other trading activities
Other income
Bar income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Wages
Social security
Pensions
Rent, rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Musical consumables and repair
Motor and travel expenses
Professional fees
Repairs and renewals
Premises expenses
IT expenses
Advertising
Sundry expenses
Depreciation
Bank charges
Other trading activities
Bar purchases
Bar entertainment
Wages
Social security
Pensions
Rent, rates and water
Carried forward		 2024
£
351,521
14,757
366,278
-
732,361
732,361
1,098,639
59,128
2,442
477
2,003
5,184
12,139
4,512
93
7,008
7,265
33,022
23,032
3,041
3,105
2,065
8,060
6,431
281
179,288
354,120
117,133
252,270
10,691
4,217
77,763
816,194		 2023
£
207,753
32,360
240,113
5,300
411,471
416,771
656,884
67,103
5,064
2,400
662
900
82,448
4,327
175
4,123
8,629
23,200
4,497
19,067
1,607
891
4,739
9,623
136
239,591
223,166
52,306
122,652
3,250
793
36,282
438,449

This page does not form part of the statutory financial statements

Page 21

THE CLUTHA TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024

Other trading activities
Brought forward
Insurance
Light and heat
Telephone
Postage and stationery
Motor and travel expenses
Repairs and renewals
Premises expenses
IT expenses
Advertising
Sundry expenses
Bank charges
Charitable activities
Donations
Other
Donations made
Support costs
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit work
Total resources expended
Net expenditure		 2024
£
816,194
1,898
10,477
352
88
-
11,368
22,826
47
1,939
20,800
3,859
889,848
2,554
23,524
3,500
2,850
6,350
1,101,564
(2,925)		 2023
£
438,449
5,276
7,578
188
22
300
7,930
5,780
-
161
453
2,618
468,755
-
64,720
3,500
5,850
9,350
782,416
(125,532)

This page does not form part of the statutory financial statements

Page 22