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REGISTERED CHARITY NUMBER: SC047591
Trustees' Report
and ~~a~~ Unaudited Financial Statements for the Year Ended 5 April 2025 ——. for
The Vale of Leven Trust
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Contents of the financial statements For the year ended 5[th] April 2025
| Page | |
|---|---|
| Chair's Report | 2-3 |
| Trustees' Report | 4-5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7-8 |
| Notes to the Financial Statements | 9-16 |
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Chair’s Report for the year ended April 25
The charity is overseen and managed by a Management Committee made up of local people from the area who undertake this role in a voluntary capacity. We are a small, driven group with the mission of improving the Vale of Leven for the benefit of those who live, work and visit the area.
This year has seen us grow as a Trust and put into place new policies and procedures after a year of change and growth in 23/24.
We have embraced the challenges and reflected on our progress and growth and established future goals. We again have had to look closely at our financial position and plan for moving forward creating a strategic vision amidst an ever-changing financial landscape.
As always, we explored emerging opportunities for income generation and thanks to upskilling members of staff we are offering more services which are generating an income. These include bike repairs and several classes and workshops.
VOLT has continued to develop and re-enforce local partnership links, building and enhancing our reputation in the community and delivering joint ventures.
Our partnership with Alexandria Traders Association continues to strengthen with plans to deliver another year of community events. Our Community Outdoor Market is continuing to grow, and the footfall is good. The Alexandria Christmas Light Switch On Event was well received with resounding support from the community for us to organise this again for 2025.
Our Events and Activities calendar is continuing to expand and the partnership we’ve solidified with the Vale of Leven Masonic is extremely beneficial, affording us a venue for our fundraising events as well as our weekly activities.
Projects we have developed this year include:
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Active Travel Hub - to provide opportunities to increase walking and cycling in the area.
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Weekend Events Calendar- to increase availability of activities and events for all residents offering opportunities to decrease social isolation and loneliness whilst increasing local community resilience and community cohesion.
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Community Outdoor Market- increasing footfall to Alexandria Town Centre and boost the local economy.
Under the banner of these projects, a range of activities and opportunities have been offered to generate positive benefits and outcomes for individuals and the local community including the business community.
VOLT has been fortunate to have benefited from financial support from the following funders in the financial year of 2024-2025 to whom our gratitude extends:
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The National Lottery Community Fund
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West Dunbartonshire Community Mental Health and Wellbeing Fund
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People's Health Trust using money raised by Health Lottery Scotland
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Cycling Scotland - Cycling Friendly Programme
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DTAS – Strengthening Communities Partnership Funding (Scottish Government)
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Film Hub Scotland – Pitch Pots Funding
Due to the continuing hard work of the VOLT staff and the Trustees we are becoming well known and respected in the area for our efforts to improve lives in the Vale.
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We actively listen to feedback and endeavour to deliver on what our local community want.
We are continuing attempts to increase our board of Trustees. We presently have a wide range of skillsets and experience but would like to expand that further.
Finally, a heartfelt thanks to the volunteers in the Management Committee, Active Travel Hub, and Events and Activities Project, as without them we could not have achieved as much as we have again over this last year.
Chairperson
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Trustees’ Report
for the Year Ended 5 April 2025
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 trustees consider that the audit requirement of Regulation 10 (1)(d) of the 2006 Accounts Regulations does not apply.
OBJECTIVES AND ACTIVITIES
The Vale of Leven Trust's purpose is to preserve, restore and improve the environment in the Vale of Leven and its environs, through the provision, maintenance and / or improvement of public open space and other public amenities and other environmental and regeneration projects. To manage community land and associated assets for the benefit of the Community and the public in general as an important part of the protection and sustainable development of Scotland's natural environment, where ‘sustainable development' means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.
Our general target outcomes are:
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¢ To improve the economy of the town of Alexandria.
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e To improve the physical environment of Vale of Leven.
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¢ To investigate how the economy/ footfall can be increased within the Town Centre.
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¢ To investigate how the lives of residents can be improved against the current more negative outcomes noted in the Scottish Index of Multiple Deprivation for West Dunbartonshire (2016 & 2020).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
On the 18th of July 2017, The Vale of Leven Trust became registered as a Scottish Charitable Incorporated Organisation, with Scottish Charity Regulator (OSCR) and HM Revenue & Customs, governed by its SCIO constitution.
Organisational structure
The Management Committee is responsible for policy decisions and ensuring that the charity operates within its constitution. Regular Management Committee meetings are held to effect policy decisions. The key management oversight during this financial year were:
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ee
Pp
Pe
PC
Former trustee lan Dickson has stepped down from the role of Trustee and the Management Committee at the
most recent AGM.
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Three new Trustees joined during the financial year of 2024-2025 and VOLT welcomed Clairei,
Former trustee James Smart will be returning to the board in May 2025.
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Recruitment and appointment of new Trustees
The volunteers serving on the Management Committee of the Charity are its Trustees. At each AGM the members may elect any member as a Trustee. The Board may also at any time nominate a member to become a Trustee. All Trustees retire from office at the AGM but are deemed re-elected unless they resign or are not re-elected via the election process at the AGM. The Board may also in certain circumstances appoint up to 2 non-members as Trustees. The minimum number of Trustees is 3 and a maximum of 9.
Induction and training of new trustees
The charity has a Management Committee induction pack for each new Trustee. This identifies the role and responsibilities of the Trustee under the Scottish charities' legislation. In addition, there is a more practical induction process in relation to the specific operations and activities of the charity.
Reference and administrative details
Registered Charity number $C047591
Trustees
Accountants
Valorem Financial Accountants Limited 80 Main Street
Alexandria
G83 OPB
Approved by order of the Management Committee (Trustees) on the 14th of July 2025 and signed on its behalf by:
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The Vale of Leven Trust
Statement of Financial Activities for the Year Ended 5 April 2025
| INCOME AND ENDOWMENTS FROMNotes Donations and legacies Charitable Activities Cycle Scotland Cyclist Cycling Club UK National Lottery DTAS Strength Communities Filmbank Scotland Scottish Land Fund Peoples Health Trust WD Mental Wellbeing DTAS TNL Community Fund Total EXPENDITURE ON Charitable activities Accountancy, consultancy and legal fees IT and telephone cost Subscriptions Insurance Print, stationary and postage Consultants and staff costs Training Sundries Repairs and maintenance Volunteer Expenses Depreciation Rent and utilities Fundraising costs advertising and marketing Activity costs Bank fees Memberships to other groups Total Notes NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Funds £ 17926 17926 1989 1859 566 1315 327 163 217 1214 22 6265 1806 1405 445 3308 332 21233 Unrestricted Funds -3307 9557 6250 |
Restricted Funds 05/04/2025 £ Total funds £ 17926 12062 12062 58634 58634 568 568 -25633 -25633 80649 80649 126280 144206 350 2339 952 2811 566 1315 327 121164 121327 0 217 43 1257 22 6265 4778 209 6584 1405 445 3517 332 127496 148729 Restricted Funds 05/04/2025 -1216 -4523 99360 130929 98144 126406 |
05/04/2024 Total Funds £ 13128 4045 2118 9911 2622 6700 24500 30185 40029 |
|---|---|---|---|
| 133238 | |||
| 1836 1424 447 1655 764 98908 1682 824 2753 587 5244 6016 3705 |
|||
| 125845 | |||
| 05/04/2024 7393 123536 |
|||
| 130929 |
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The Vale of Leven Trust
Balance Sheet 05-Apr-25
| Notes Unrestricted Funds £ Restricted Funds £ 9469 1383 CURRENT ASSETS Prepayments and accrued income Cash at bank and in hand 41957 75498 150 900 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABLITIES NET ASSETS FIXED ASSETS Tangible Assets Heritage Assets CREDITORS Amounts falling due within one year Accounts payable Accruals FUNDS Unrestricted funds: General Fund Funds raised/Donated General Reserve Restricted Funds: Cycle / Peddle Scotland Your Community Cycle Club CORRA SIAL Impact DTAS strength Community Peoples Health Trust Scottish Land Fund Awards for All Filmbank scotland WD CVS Weekend Activities & Active Travel Sustrans TNL Community Funds Total Funds |
9469 1383 10852 11313 117455 128768 150 900 1050 127718 138570 138570 05/04/2025 Total Funds £ 37350 14870 10852 4045 3241 186 0 291 21640 3346 3000 10027 -300 -20821 7017 43826 138570 |
15734 1383 05/04/2024 Total Funds £ |
15734 1383 05/04/2024 Total Funds £ |
|---|---|---|---|
| 17117 18177 112187 |
|||
| 130364 3489 900 |
|||
| 4389 125975 143092 143092 31760 9557 17117 4045 3241 198 2753 291 7079 3346 3000 9911 -659 37702 7017 6716 143092 |
The charitable company is entitled to exemption from audit under Section 477 of the companies Act 2006 for the year
the notes form part of these financial statements
Continued
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The Vale of Leven Trust
Balance Sheet- continued
The members are not required for the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 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 Section 394 and 395 and which comply with the requirements of the Companies Act 2006 relating to financial statement, so far as applicable to the charitable company.
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 02 June 2025 and were signed on its behalf by:
Stephanie Park - Chair
The notes form part of these financial statements
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The Vale of Leven Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
1 ACCOUNTING POLICIES
Basis of preparing 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; Statements of Recommended Practice 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 the Republic of Ireland' and Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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 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 costs 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.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Funds 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 objects of charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of nature and purpose of each fund is included in the notes to financial statements.
TRUSTEES' REMUNERATION AND BENEFITS
| 05.04.25 | 05.04.24 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trustees' expenses | 0 | 0 |
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITES
| Unrestricted funds | Unrestricted funds | Restricted funds | Total funds | |
|---|---|---|---|---|
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 13128 | 13128 | ||
| Charitable activities | ||||
| Cycle Scotland | 4045 | 4045 | ||
| Cyclist Cycling Club UK | 2118 | 2118 | ||
| National Lottery | 9911 | 9911 | ||
| Filmbank Scotland | ||||
| Scottish Land Fund | 2622 | 2622 | ||
| Peoples Health Trust | 6700 | 6700 | ||
| WD Mental Wellbeing | 24500 | 24500 | ||
| DTAS | 30185 | 30185 | ||
| TNL Community Fund | 40029 | 40029 | ||
| TOTAL | 13128 | 120110 | 133238 |
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The Vale of Leven Trust
OFFICIAL
Notes to the Financial Statements- contnued for the Year Ended 5 April 2025
3 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued
| Unrestricted funds | Restricted funds | Total funds | Total funds | |
|---|---|---|---|---|
| £ | £ | £ | ||
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| 1836 | ||||
| Accountancy, consultancy and legal fees | 900 | 936 | ||
| IT and telephone cost | 1355 | 69 | 2811 | |
| Subscriptions | 357 | 90 | 447 | |
| Insurance | 411 | 1244 | 1655 | |
| Print, stationery and postage | 356 | 408 | 764 | |
| Consultants and staff costs | 153 | 98755 | 98908 | |
| Training | 76 | 1606 | 1682 | |
| Sundries | 824 | 824 | ||
| Repairs | 1927 | 826 | 2753 | |
| Volunteer Expenses | 587 | 587 | ||
| Depreciation | 5244 | 5244 | ||
| Rent and utilities | 3147 | 2869 | 6106 | |
| Capital and misc. | ||||
| Legal, insurance and compliance costs | ||||
| Activity costs | 1354 | 2351 | 3705 | |
| Building costs | ||||
| Memberships to other groups | ||||
| TOTAL | 16104 | 109741 | 125845 | |
| NET INCOME/ (EXPERNDITURE) | -2976 | 10369 | 7393 |
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The Vale of Leven Trust
Notes to the Financial Statements- continued for the Year
Ended 5 April 2025
4 CREDITORS: AMOUNTS FALLING DUEWITHIN ONE YEAR
| 05.04.25 | 05.04.25 | 05.04.24 | 05.04.24 | |||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||
| Accrued expenses | 900 | 900 | ||||||
| Trade creditors | 150 | |||||||
| 5 | TANGIBLE FIXED ASSETS | |||||||
| Tangible fixed | assets | Total | ||||||
| £ | £ | |||||||
| Cost | 37296 | 37296 | ||||||
| Depreciation | ||||||||
| charge for the year 24 | 5244 | 5244 | ||||||
| charge for the year 25 | 6265 | 6265 | ||||||
| Net book value | ||||||||
| At 5 April 2025 | 9469 | |||||||
| At 5 April 2024 | 15734 | |||||||
| 6 | HERITAGE ASSETS TABLE | |||||||
| Total | ||||||||
| £ | ||||||||
| Market Value | 1383 | |||||||
| Net book value | ||||||||
| at 5 April 2025 | 1383 | |||||||
| at 5 April 2024 | 1383 | |||||||
| 7 | MOVEMENT IN FUNDS | |||||||
| AT | 06.04.24 | Net movement | At | 05.04.25 | ||||
| £ | in | funds £ | £ | |||||
| Unrestricted funds: | ||||||||
| General Fund | 31760 | 5590 | 37350 | |||||
| Funds raised/Donated | 9557 | 5313 | 14870 | |||||
| General Reserve | 17117 | -6265 | 10852 | |||||
| Restricted Funds: | ||||||||
| Cycle / Peddle Scotland | 4045 | 4045 | ||||||
| Your Community | 3241 | 3241 | ||||||
| Cycle Club | 198 | -12 | 186 | |||||
| CORRA | 2753 | -2753 | ||||||
| SIAL Impact | 291 | 291 | ||||||
| DTAS strength Community | 7079 | 14561 | 21640 | |||||
| Peoples Health Trust | 3346 | 3346 | ||||||
| Scottish Land Fund | 3000 | 3000 | ||||||
| Awards for All | 9911 | 116 | 10027 | |||||
| Filmbank Scotland | -659 | 359 | -300 | |||||
| WD CVS Weekend Activities | 37702 | -58523 | -20821 | |||||
| Sustrans | 7017 | 7017 | ||||||
| TNL Community Funds | 6716 | 37110 | 43826 |
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TOTAL FUNDS
143074
-4504
138570
The Vale of Leven Trust
Notes to the fnancial statements- contnued for the Year Ended 5 April 2025
7 MOVEMENT IN FUNDS -continued
| Net movement in funds, included in the above are as | |||
|---|---|---|---|
| follows: | Incoming resources | Resources expended | Movement in |
| £ | £ | funds | |
| £ | |||
| Unrestricted funds: | |||
| General Fund | |||
| Funds raised/Donated | 17926 | 21233 | -3307 |
| General Reserve | |||
| Restricted Funds: | |||
| Cycle Club | 12 | -12 | |
| DTAS | 58634 | 43912 | 14722 |
| Peoples Health Trust | |||
| Scottish Land Fund | |||
| Awards for All | 12062 | 11945 | 117 |
| Filmbank Scotland | 568 | 209 | 359 |
| Paths For All Web | |||
| WDCVS | -25633 | 32891 | -58524 |
| TNL Community Funds | 80649 | 43539 | 37110 |
| TOTAL FUNDS | 144206 | 153741 | -9535 |
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The Vale of Leven Trust
Notes to the Financial Statements- continued for the Year Ended 5 April 2025
7 MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
| Unrestricted funds: General Fund Funds raised/Donated COOP Loves Local General Reserve Restricted Funds: National Lottery Energy Savings Trust Cycle/Peddle Scotland Your Community DTAS Cycle Club/Shift CORRA SIAL Impact WDC Lonely Fund Scottish Land Fund DTAS Strength Community People Health Trust Paths For All Web Digital Boost WD Mental Wellbeing WD CVS Weekend activities & Active travel Sustrans TNL Community Funds TOTAL FUNDS |
At06.04.23 £ 12533 11977 22361 46871 3241 3341 291 14969 5811 52589 7017 1731 88990 135861 |
Net movement in funds £ 19227 -2420 0 0 -5244 11563 4045 0 198 -588 0 3000 -7872 -2465 -14887 0 4985 -13584 -2021 |
At05.04.24 £ 31760 9557 17117 58434 4045 3241 198 2753 291 3000 7097 3346 37702 7017 6716 75406 133840 |
|---|---|---|---|
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The Vale Of Leven Trust
Notes to the Financial Statements- continued
for the Year Ended 5 April 2025
7 MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
| Incoming resources | Resources expended | Movement in funds | |
|---|---|---|---|
| £ | £ | £ | |
| Unrestricted funds: | |||
| General Fund | |||
| Funds raised/Donated | 13128 | 16104 | -2976 |
| General Reserve | |||
| Restricted Funds: | |||
| Cycle / Peddle Scotland | 4045 | 0 | 4045 |
| National lottery | 9911 | 0 | 9911 |
| Cycle Club | 2118 | 1920 | 198 |
| DTAS strength Community | 30185 | 38056 | -7871 |
| Peoples Health Trust | 6700 | 0 | 6700 |
| Scottish Land Fund | 2622 | 378 | 2244 |
| WDCVS Active Travel | 24500 | 39388 | -14888 |
| TNL Community Funds | 40029 | 35044 | 4985 |
| CORRA | 0 | 588 | -588 |
| Filmbank Scotland | 0 | 659 | -659 |
| TOTAL FUNDS | 133238 | 132137 | 1101 |
continued…
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The Vale of Leven Trust
Notes to the Financial Statements-continued for the Year
Ended 5 April 2025
7 MOVEMENT IN FUNDS- continued
A current year 12 months and prior years 12 months combined position is as follows:
| Unrestricted funds: General Fund Funds raised/Donated General Reserve Restricted Funds: Cycle/Peddle Scotland Your Community Cycle Club/Shift CORRA SIAL Impact Awards for all Scottish Land Fund DTAS Strength Community People Health Trust WD CVS Weekend activities & Active travel Sustrans Filmbank Scotland TNL Community Funds TOTAL FUNDS |
At 06.04.23 £ 12533 11977 22361 46871 3241 3341 291 14969 5811 52589 7017 1731 88990 135861 |
Net movement in funds £ 24817 2893 -11509 16201 4045 0 186 -3341 10027 3000 6671 -2465 -73410 0 42095 -13492 2709 |
At 05.04.25 £ 37350 14870 10852 63072 4045 3241 186 0 291 10027 3000 21640 3346 -20821 7017 -300 43826 75498 138570 |
|---|---|---|---|
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The Vale of Leven Trust
Notes to the Financial Statements- continued for the
Year Ended 5 April 2025
7 MOVEMENT IN FUNDS- continued
The 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 Funds raised/Donated General Reserve Restricted Funds: Cycle / Peddle Scotland Cycle Club CORRA DTAS strength Community Peoples Health Trust Scottish Land Fund Awards for All WD CVS Weekend Activities TNL Community Funds Filmbank Scotland TOTAL FUNDS |
Incoming resources £ 31054 4045 2118 0 88819 6700 2622 12062 -1133 120678 568 267533 |
Resources expended £ 37337 0 1932 588 81968 0 378 11945 72279 78583 868 285878 |
Movement in funds £ -6283 4045 186 -588 6851 6700 2244 117 -73412 42095 -300 -18345 |
|---|---|---|---|
RELATED PARTY DISCLOSURES
There were no related party transactions for year ended 5 April 2025
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