REGISTERED CHARITY NUMBER: SC045907
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2022
for
Previously...Scotland's History Festival
Previously...Scotland's History Festival
Contents of the Financial Statements for the Year Ended 31 August 2022
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 |
Previously...Scotland's History Festival
Report of the Trustees for the Year Ended 31 August 2022
The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. 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 organisation's purposes are the advancement of the arts, heritage and culture by curating a calendar of events culminating in an annual festival celebrating Scotland's history, and the advancement of education by improving links between school and tertiary education by delivery of educational activities.
Previously...Scotland's History Festival was created to celebrate Scotland's history and heritage. To this end our aim was to create a ten day festival.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
With the global pandemic putting a halt to in-person events, the last festival held was in 2019. The trustees had hoped to resume the programme as restrictions around the pandemic lifted, but this has not been possible. As a result, the intention of the trustees is, with OSCR's permission, to wind up the charity with great regret.
FINANCIAL REVIEW
Financial position
During the year, donations of £261 were received, with expenditure of £720, resulting in a deficit for the year of £459. There are no outstanding debts.
Reserves policy
The trustees' policy is to maintain reserves at around 2-3 months of normal running costs in order to meet commitments and to cover any unexpected expenditure. As the charity has been unable to host any events, this policy has not been met, but the trustees are looking to wind up the charity and make appropriate provision for remaining amounts.
FUTURE PLANS
The festival's future is currently under review, with the charity trustees pursuing the winding up process.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a Scottish Charitable Incorporated Organisation (SCIO) and was registered on 14 August 2015.
Recruitment and appointment of new trustees
Trustees are appointed at the Annual General Meeting under the terms of the Constitution.
Decision making
In accordance with the Constitution, the governing body of Previously... Scotland's History Festival is the Board of Trustees, responsible for policy, direction and overall management. The Board is elected by Full Members to direct and manage the affairs of the organisation and hold responsibility for its operations.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
SC045907
Principal address
13 The Bowling Green Edinburgh Lothian EH6 5RN
Page 1
Pmryou51 ...Scotlaa(15 FestiiTrl rl of the Ttustces Ti'usie tee stee stee Illdependent ExAmin*r Mathew GleS LLB (HODS) ACPA FCIE Cowan & Parkners Limited 60 Constilution Stsrei Edinbiwgh EH6 6RR ApproN'ed by order of the board of ttustees m 24 May 2023 a1 on its behalf by: Pa8e 2
Independent Examiner's Report to the Trustees of Previously...Scotland's History Festival
I report on the accounts for the year ended 31 August 2022 set out on pages four to eight.
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. 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. 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.
==> picture [222 x 79] intentionally omitted <==
Full member of the Association of Charity Independent Examiners
Cowan & Partners Limited 60 Constitution Street Edinburgh EH6 6RR
25 May 2023
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Previously...Scotland's History Festival
Statement of Financial Activities for the Year Ended 31 August 2022
| 31.8.22 | 31.8.22 | 31.8.21 | ||
|---|---|---|---|---|
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 261 | 300 | ||
| EXPENDITURE ON | ||||
| Raising funds | 360 | - | ||
| Charitable activities | 2 | |||
| Charitable activities | 360 | 360 | ||
| Total | 720 | 360 | ||
| NET INCOME/(EXPENDITURE) | (459) | (60) | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 115 | 175 | ||
| TOTAL FUNDS CARRIED FORWARD | (344) | 115 |
The notes form part of these financial statements
Page 4
Pmryou51 ...Scotlaa(15 FestiiTrl Balance Sheet 318.22 Urrestricted fijlld 31.8.21 Total Notes CL]UT ASSETS Debtors Cash at bank 360 115 16 16 475 CREDITORS AThLOUTJts fallin8 due within one year (3) (360) NET CIIRRENT ASSETSI(LLiBttitlESI (344) 115 TOTAL ASSETS LESS CLIU<E%T LL4BILITIES 1344) 115 NET ASSETSI(LLiBILITIES) {344) Uiwestiicted fiuJd5 (344) TOTAL FitNDS (344) The fuwKial $tstements were at4Koi'ed by the Bowd of Trtt alld for issue on 24 May 2023 and wa $id on its behalf by.. The notes fmport of thes¢ finan¢ial ststements Pa8e 5
Previously...Scotland's History Festival
Notes to the Financial Statements for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention.
The accounts are presented in sterling which is the charity's functional currency, and rounded to the nearest pound.
No changes have been made to the basis of preparing the financial statements this year or to the previous year's financial statements.
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.
Computer equipment - 33% on cost
Taxation
The charity is exempt from tax on its charitable activities.
VAT
The charity is not registered for VAT and income and expenditure is recognised gross of VAT.
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.
Page 6
continued...
Previously...Scotland's History Festival
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
2. CHARITABLE ACTIVITIES COSTS
| 2. | CHARITABLE ACTIVITIES COSTS | ||
|---|---|---|---|
| Support | |||
| costs (see | |||
| note 3) | |||
| £ | |||
| Charitable activities | 360 | ||
| 3. | SUPPORT COSTS | ||
| Governance | |||
| costs | |||
| £ | |||
| Charitable activities | 360 | ||
| Support costs, included in the above, are as follows: | |||
| 31.8.22 | 31.8.21 | ||
| Charitable | Total | ||
| activities | activities | ||
| £ | £ | ||
| Accountancy and legal fees | 360 | 360 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 300 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable activities | 360 |
| NET INCOME/(EXPENDITURE) | (60) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 175 |
| TOTAL FUNDS CARRIED FORWARD | 115 |
continued...
Page 7
Previously...Scotland's History Festival
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
6. TANGIBLE FIXED ASSETS
| 6. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Computer | |||
| equipment | |||
| £ | |||
| COST | |||
| At 1 September 2021 and 31 August 2022 | 2,074 | ||
| DEPRECIATION | |||
| At 1 September 2021 and 31 August 2022 | 2,074 | ||
| NET BOOK VALUE | |||
| At 31 August 2022 | - | ||
| At 31 August 2021 | - | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Other debtors | - | 360 | |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.8.22 | 31.8.21 | ||
| £ | £ | ||
| Other creditors | 360 | 360 | |
| 9. | RELATED PARTY DISCLOSURES |
There were no related party transactions for the year ended 31 August 2022.
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