**OFFICIAL** **REGISTERED CHARITY NUMBER: SC047591** ## **Trustees' Report** **and** ~~a~~ **Unaudited Financial Statements for the Year Ended 5 April 2025** ——. **for** ## **The Vale of Leven Trust** 0 **OFFICIAL** **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| 1 **OFFICIAL** **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: - Active Travel Hub - to provide opportunities to increase walking and cycling in the area. - 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. - 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: - The National Lottery Community Fund - West Dunbartonshire Community Mental Health and Wellbeing Fund - People's Health Trust using money raised by Health Lottery Scotland - Cycling Scotland - Cycling Friendly Programme - DTAS – Strengthening Communities Partnership Funding (Scottish Government) - 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. 2 **OFFICIAL** 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 3 OFFICIAL 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: - ¢ To improve the economy of the town of Alexandria. - e To improve the physical environment of Vale of Leven. - ¢ To investigate how the economy/ footfall can be increased within the Town Centre. - ¢ 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: **----- Start of picture text -----**
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.
**----- End of picture text -----**
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. 4 OFFICIAL ## 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: 5 ## **OFFICIAL** ## The Vale of Leven Trust ## Statement of Financial Activities for the Year Ended 5 April 2025 |**INCOME AND ENDOWMENTS FROM**Notes
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**| 6 ## **OFFICIAL** ## 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 7 ## **OFFICIAL** ## **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 8 **OFFICIAL** **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**| 9 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**| 10 **OFFICIAL** ## **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| 11 **OFFICIAL** **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| 12 **OFFICIAL** ## **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| |---|---|---|---| 13 **OFFICIAL** ## **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… 14 **OFFICIAL** ## **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**| |---|---|---|---| 15 **OFFICIAL** ## **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 16