LARGO LIBRARY AND COMMUNITY HUB
Report & Financial Ststements
For the year ended
31 December 2023
OSCR
Ihnty Re8uki
WWW.0scr.org.uk
Rw5¢ered Sao
SCIMYI14

REPORT & FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS
Trustees. annual report.
Indep8ndenl examiner's report..
statement of reeoipts and payments ....
stalement cf balances...
Note5 to the financial statements....
10-11

TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report and finanoal 8tatgments together with the indep8ndeni examiner's report for
the year to 31 December 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Largo ￿brary and Communlty Hub
Charity Name
Charlty Numb8r
SC047174
Prlnclpal Address
7 Llndin Square
Lundin Links
Leven
KY6 6BH
Webslte Address
wwN.largolibraryfife.org.uk
TN$tees on the date
the report was •pprov•d
Bankers
The CTroperalive Bank
PO Box 250
S<elmers¢alg
WN8 6WT
Indopendent Examlner
Cunningham Grant CA
G6 The Gianary Business Contre
Frfe
KY15 5YQ

TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE GOVERNANCE AND MANAGEMENT
Govornlng Document
On 14 February 2017, the charity was granted charitable status b¥ OSCR. On 18 April 2018, the charity was
conv8rted fTom a company limited by guarantee lo a Scottish Charitable Incorporated Organi5ation {SCIO}
and governed by a new constitution from that date. The constitutioi was updated on 05 May •021 to allow for
meetings to be hel(1 virludlly.
Appolntment of TruslgOS
New trustees are appointed by majority decision of the existing trL$lees, subject to there being a minimum of
three and a maximum of nine trustees.
Organlsatlonal Structur
The trLJslees. who meet regularly. arè responsible for oversegng the running of the libfary. Oay-to-day
management of the library is d81egated to the management commite9.
OBJECTS & ACTIVITIES
The objects of the OTganisalion are..
the advanc8ment of education.,
the advancemanl of citizenship or (ommunity development., and
the advancement of the arts, herita Je, culture or science.
In furtheranc8 of these objects, the ooanisation seeks to assernble, preserve and admini&er, in organised
collections, books and related educational. historical and r￿reational mateTl8ls in older to promote
knowledge. enlighten citizenship and ttre enrichment of personal li4es. including..
serving as the information centre ol the community..
providirg the opportunity for continuous self-educalion of chilcren, young people and adults,.
idenlityin9 wllh community needs, '.0 provide facilities and pro Jrams of seryice to meet SLch needs, and to
co-operate wiltt other organisalion$, agencies and institutions that can provide local progiams or services.,
providing opportunity for a more aJvantageous use of leisurE time through books, audio visual materials.
programs and other art forms and -ormals', and
iiiforniing the public of library obl￿tiVeS and services, and encouragin9 use and support of the library by
any means available to them.
ACHIEVEMENTS & PERFORMANCE
Largo Library and Community Hut negotiated and signed a new 20-year. fully repairing ¢nd insuring lease
with Fife Council in 2022. The lease runs until March 2042 and incorporates break clau*s every 5 years.
This provides stability and Securit￿ for the library going fO￿ardS.
Groups that meet regularly at the library include Creative V￿ting, Yappers and Yarnerj (knitting groLtpI,
Art Group, the Largo Friendship Group, the Bridge Club and Bookbug. The groups pay a nominal fee per
meeting. and we are very grateful lor their on90ing support.
We re¢eive many donations of bcoks from the local community for which we are very grateful. For those
books that we can't use we have a Better World book recycling bank just outside the library. The library
earns a nomlnal amount from boocs recycled.

TRUSTEES, ANNUAL REPORI
FOR THE YEAR ENDED 31 DECEMBER 2023
From December 2022 until the end of March 2023 the library participated in Largo Area'5 Wami Welcome
and PTovided a Warm Welcome to every visitor including hot drinks. biscuits, newspa)ers, jigsaws. On
Wedn&8days we also offered soup and rolls. Warm Wedne5cays took a break over the Summer. returning
in November 2023 with the additijn of blngo. Those who atendad appreciated the wami welcome. the
great soup and the chat with olhws, and the library b8nefitted from increased footfall aid new members.
These sèssions were funded by remainlng Fife Council Warn Spaces funds and sponsorship from a local
business.
During 2023, we continued lo im)rove facilllies in the librari. The sandstone exterior has been restored
and work to Create a reading garden area has begun by our wonderfvl volunteers.
In the aLbtumn. we successfully applied for a grant from the Levenmoulh Reconnected Programme to fund
an upgrade lo the library s centra heating system, Work staled in January 2024, and vie hope that works
will be completed in Spring 2024.
Membership of the library continLes to grow and increased to 629 at the end of December 2023.
Our library ¢ontinu8S to be fully volunteer run and we woukj like to extend our heartfolt thanks to all our
dedicated and talented volunteets.
FINANCIAL REVIEW
Overvlew
Number 8 Lundin Square continues to be Su￿let to a local busness. Thi5 provides a statde source of income
lo support the running costs of the library. The library also ecrned incorne from donations and fund raising.
The library remains in a healthy finaicial position and was able to cover running costs in 2)23.
The foll￿1ng is a summary of our receipts and payments for tre year:
Unrestricted Restricted
Funds
Funds
Total
Total
2023
2022
9,567
8.722
845
9,567
8,830
737
5,732
6.551
(8191
Receipts
Payrnents
N¥t movement In funds
108
{108)
Rlsk Assessment
The Management Committee cre8tBd a comprehensive risk assessment for the library as part of the original
business plan. The risk assessment is monitored and updat*d at regular Management Committee meetings.
The key risk is the financial viabi ity of the Library. The income and expenditure of tht Library is monitored
very closely to mitigate this risk.
Reserves Pollcy
The trustees aim to maintain the equlvalent of three months, operatlng costs as uniestricled funds in the
Librar> s bank account to cover unforeseen costs.
ReseNes at the year-end were £8,32312022: £7.586).

TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
FUTURE PLANS
Tho slra1egy for 2024 is to generate recurring income that -overs day lo day running costs. We will
continue our popular prograrnmo of events, Includlng re9ukr fllm ev8nlngs, evening talks, Science
Saturday5, 8oDkbug sessions and trnok sales.
The Library Reading Garden will open in June 2024. The garden will be offiual￿ opened by a local
horb'culturalisl and guesis enjoy afternoon tga in the garder.
We are partnering with local group Friends of L8r90 Bay to pu-. on o series of interesting and fijn Science
Saturday sessions for yOLkng people in the first half of 2024.
We plan to build on th& Success c>f ,)ui first open mic evening in the autumn of 2023, and to host a serigs
of similar events in 2024. The next open mic ni9hl will be in Apiil 2024.
W8 will continu8 to improvè tha f*ilities in th8 library and lo maintain th& building in 3 good slate of
repair.
Qur focus in 2024 is to ensure our Ibrary remains a vibrant hLb in the cenlre of our community providing
informatiDn. servicas and enjoyable activities for local resident
APPROVAL
This rgport, 1vh￿h has been prepared ir accordanco with the Charties and Trustee Investrnenl (Scotland) Act
Uub, was approved by the trustees on 9 May 2024 and signed on Iheir behalf by:

INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDEO 31 DECEMBER 202
Ind•pondont Examlnerfs Report to the Trustees of Largo Llbrary and Communlty Hub
I report on Ihe accounts of the charity for the year ended 31 Decpmber 2023, whlch are Set out ori p8ges 8 10
11
Respectlvè r8sponslbllltl•s of Trus16éS and Examlner
Tho charity's trustees are responsible for the pr8paralion of the accounts in a￿OrdanCe wllh Ihe term$ of the
Charities gnd Trustee Investment ISo)tlandl Act 2005 (￿he 2005 Act") and the Charities Accounts (Scotland)
Regulations 2006 las amended) I'lhe 2006 Regul8tions'l. Thg t.ust8eg consider that Ihe audit requirement of
Regulation (10)11)Idl of the 2006 Regulations does not apply.
n is my respDnsibillty to examine the eccwnts under sectk)n {44)11)Ic} of Ihe 2005 Act ard lo state whether
particular mètters have Gome lo my a,tention.
Basls of Indepéndent Examlnerf$ Statement
My examination is carrled out in 8cLordan¢e with R6gulation 11 01 Ihe 2006 Règulalions. An examlnallon
inGlude5 a review of the accouniing .'ecords kept by the charity and a comparison ol the accounts presented
with those records. 11 also includes COnSKlerallon of any unu3ual Items or disclosures in the accounts, and
seeks explanationg from the trustees concerning any such matters. The proceduros undortaken do not
provide all the evidence that would requlred in an audit, and consequently I do not express an Audit opinion
on the view given by the accounts.
Independent Examlnèrf$ Statement
In connection with my examination. io matter carne lo my att8rtion'.-
which givas mè reasonable cause lo believè that In 8ny m*8rial re3peGt, Ihs r9quirèff£nls
to keep accounting records in acGudance with sectiory 44(1){a) of the 2005 A¢t and Regulalion 4 of
Ihe 2006 Regulalions, and
lo prepare accounts which aCGord with Ihg accountin J records and comply with Regulation g of the
2006 Regulations
have not been fflet, or
?. to whiGh, in rny opinion, attertion should be drawn in order to enable a proper understanding of the
accounts to be reached.
Cunningham Grant CA
G6 The Granary Buslness Centre
Cupar
KY15 5YQ
qls

STATEMENT OF RECEIPTS AND PAYMENTS
FOR THE YEAR ENDED 31 DECEMBEI 2023
Unrestricted Restricted
Total
Total
Funds
Funds
20S3
2022
Recèlpts
Donations
1,948
1,135
1,948
1,12S
982
Grants
500
Book sales
172
172
45
Income from property
Fund raising
Trading income (Room hire)
4,21)0
1.006
4.2CO
1,0(6
1,1(6
9.567
3.000
605
1,106
9,567
600
5,732
Payments
Fund raising
Charitable activities
8a4
884
174
Books
270
97
Book Week Scotland
450
Cleaning and housekeeping
Warm spac& expenses
Healing arid lighting
Insurance
1,207
31)2
1.2Q7
312
680
3,034
3.37
3.0gA
387
2.321
345
Li¢ences
5T2
572
341
Printing. postage and stationery
Professional fees
162
322
182
Rent
425
394
Repairs and maintenance
Telephone and internet
T5
108
183
497
728
748
8.0)6
108
8,204
626
6.551
Purchase of fixed assets
626
8,722
108
8,830
6.551
Nel movement in funds
8$5
{108)
737
18191
Transfers between funds
Surplu$l{Deflcltl for year
815
11081
737
18191
The Notes on pages 10 to 11 form an in'.egral part of these accounls.

STATEMENT OF BALANCES
AS AT 31 DECEMBER 2023
Unraslrided Roslricle
Total
Total
Funds
Funds
2Q23
2022
Fund6 roeon¢lllatSon
Balance as at 01 January 2023
Surplusl{Deficitl for year
6al8nce as at 31 December 2023
7,478
845
108
7,586
737
8,405
18191
7.586
(108)
8,323
8,323
Bank and cash Balances
Cash al bank
8,323
8,323
7,586
Cash in hand
8,323
8,323
7.586
other assets
Books
2,000
1.800
2.000
1,800
200
2.000
3.100
900
Fixtures, fittings and fumishings
Computers. IT and AV equipment
200
4,000
4,000
6,000
Liabilitieslcontingent liablllties
384
384
430
The Notes on pages 10 10 11 form an integral part of thèse accounts.
These accounts, which have been prepared in accordance with the Charities and TrLStee Investrnent
(&otlandl Act 2005, were approvèd by the Iruslees on 9 May 2024 and slgned on their behaf by..

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Ba$ls of preparatlon
Th888 accounts have been prepa'ed on the receipts & paymsnls basis in accordance wf(h'.
lal The Charities and Trustee Investment (Scollandl Act g005
Ibl The Charities Accounts (Scollandl Regulations 2006 las amended)
There have been no chan9e*S to the basis of preparation or to the previou3 year,? aG¢ounts.
Fund accountlng
{a} Unreslricled funds are those that can be expended al the discretion of the trustees in the
lurtherance of the objects cf the charlty.
{bl Restricted funds are those that may only ba used for spe¢ifi¢ purpos09. Reslrictons arise when
specified by the donor, or when funds are raised for specific purposes.
Icl The purposes of the funds are shown in Note 8.
Taxatlon
lal The charity is not liable to corporation tsx or capital gans tax on ils Charitable aclivits'8S.
Ibl The charity is not registered for VAT, thus all costs aré shown inclusiv8 of VAT ck*rged.
Trustè& r•mun&ratlon and benefits
lal No remuneration was paid lo trustees during the year )r in the previous year.
{bl The charity's insurance pol cy includes trustee indemrily insurance cover for all ol ils trustees.
Tru$t¢e expgn80$
No expenses were reimbursed to the trustees during the ye* or in the previous year.
Transactlons wlth relatod partles
Tlivr¥ were no transactions with r&lated parties during the year or in the previous year.
10-

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Movements In tunds
Asat
Asat
3111212022
Recapls
Payments
Transfers 3111212023
Unrestrlcted funds
General fun¢J
7,478
9,JOT
(8,T221
8,323
Restrfcted funds
Fife Council
108
11081
1108}
108
Tot* funds
7,586
9,567
{8,830)
8,323
Purp)sè offunds
General fund
Unrestritted funds that can be eypended al the discretion of th8 trustéos in
furtheraice of the objects of the charity.
Grant fLnding from Fife Council tLiwards the cost of tree prbnlng and garden
project.
Fife Council
11