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2024-10-31-accounts

Scottish Charity No. SC047890

TULLIBODY COMMUNITY DEVELOPMENT TRUST

REPORT

AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31[ST ] OCTOBER 2024

Dickson Middleton Chartered Accountants www.dicksonmiddleton.co.uk The UK 200 Group Practising Chartered Accountants

TULLIBODY COMMUNITY DEVELOPMENT TRUST

Contents

Page
Report of the trustees 1 - 5
Independent Examiner’s report 6
Statement of Financial Activities 7
Balance sheet 8
Notes to the financial statement 9 - 15

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Report of the trustees for the year ended 31[st ] October 2024

The trustees have pleasure in presenting their annual report, which incorporates the Strategic Report, and the examined Financial Statements for the period ended 31st October 2024. In preparing this report the Trustees have complied with the Charities and Trustee Investment (Scotland) Act 2005 and applicable accounting standards.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Number SC047890 Principal & Registered Office Tullibody Civic Centre Abercromby Place Tullibody Alloa FK10 2RS Bankers TSB Duncan House Edinburgh EH2 4LH Independent Examiner Chartered Accountants 20 Barnton Street Stirling FK8 1NE

Principal & Registered Office

Bankers

Independent Examiner

Trustees

The trustees who served from 1 November 2023 are as follows:

(Resigned 1[st ] March 2024)

1

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Report of the trustees for the year ended 31[st ] October 2024 (Continued)

OBJECTIVES AND ACTIVITIES

Tullibody Community Development Trust was constituted 12th September 2017 The Trust has 10 members on its board of Trustees - a Chairperson, Vice-Chairperson, Secretary, Treasurer, and 4 trustees, one of who was co-opted as an associate member. On 3rd November 2017 The Trust gained The Scottish Charitable Incorporated Organisation (SCIO) status.

Membership is open to anyone over the age of 12 years as junior, associate, or ordinary members (only ordinary members have voting rights). We currently have over 900 members. The Trust was established due to the demand from the community to keep our community facilities open after the local Council decided they could not afford to continue to keep them open.

To create a community owned and run space for everyone to use, enjoy and benefit from. The development of the Centre and adjoining green space including the playing fields and park will:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document, Board and Decision Making

TCDT has a constitution which governs its operation. The volunteer board is comprised of 9 volunteer members and meets 12-15 times per annum. The day to day management of the centre is delegated to the operations manager who regularly reports directly to the Board.

Trustee Recruitment, Appointment and Training

TCDT aims to recruit trustees from amongst its membership, but the constitution does allow for 2 co-opted trustees either on the basis that he/she has been nominated by a body with which the SCIO has close contact in the course of its activities or on the basis that he/she has specialist experience and/or skills which could be of assistance to the board. We currently have one co-opted trustee.

2

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Report of the trustees for the year ended 31[st ] October 2023 (Continued)

ACHIEVEMENTS AND PERFORMANCE

The focus this year has been on developing more socially inclusive activities and supporting our volunteers to host a range of social activities including the weekly potluck lunch, where local residents can pop in for a meal and make new friends.

Staff

Unfortunately, we had to let our two part time cafe staff leave in May 2024. We were making losses due to the overheads and staffing costs. However, we were able to recruit and appoint a new part time Facilities Assistant to support our full time Facilities Coordinator, ensuring more continuity in the day to day running of the Centre and providing cover during all opening hours.

Facilities

FINANCIAL REVIEW

The Trusts income in the year 2023/2024 came from donations, operating income and grants.

The Trust’s operating income was made up of lets of the Tullibody Civic Centre function room, meeting rooms, sports facilities and changing rooms as well as the revenue from its café before it was closed in May 2024.

Income from lets has increased from the previous year as the centre continues to attract new users and the new astro pitch has greatly increased the usage of the former bowling green.

The expenditure over the year consisted of operating expenses, mostly building repairs, staff and utility costs. These costs were covered through operating income and grants raised. Utility costs are still a concern as the cost tripled from August/July 2022 and though they have eased. The income from lets covers these costs, leaving a small surplus to be invested in the centre.

3

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Report of the trustees for the year ended 31[st ] October 2024 (Continued)

STATEMENT OF THE CHARITY’S POLICY ON RESERVES

The main activity of the Trust is to keep the Civic Centre open, as such we endeavour to hold enough reserves to cover 3 months of operational expenses plus an allowance for unexpected repairs, amounting to £30,000. The reserves are currently higher than this which provides scope for investment in the centre’s future development plans.

FUTURE PLANS

Future plans include the redevelopment of the reception and heritage centre areas following an architectural feasibility study.

4

TULLIBODY COMMUNTIY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Report of the trustees for the year ended 31st October 2024 (Continued)

TRUSTEES’ RESPONSIBILITIES

The trustees 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).

The law applicable to charities in Scotland 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 charity and of the incoming resources, including the income and expenditure, of the charity for the year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board Trustees and signed on its behalf by:

----- Start of picture text -----
Trustee
June 2025
----- End of picture text -----

5

TULLIBODY COMMUNITY DEVELOPMENT TRUST Independent Examiner’s Report to the Trustees of Tullibody Community Development Trust for the year ended 31[st ] October 2024

I report on the accounts of the charity for the period ended 31 October 2024 which are set out on pages 7 to 8.

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. The charity Trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination is 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 financial statements presented in those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeks explanations from the 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 financial statements.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and

  3. to prepare financial statements which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations

have not been met, or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

I do not, in giving this report, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or in whose hands it may come, save where expressly agreed by my prior consent in writing.

Dickson Middleton Chartered Accountants 20 Barnton Street Stirling FK8 1NE June 2025

6

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Statement of Financial Activities (including income and expenditure account) for the year ended 31st October 2024

Note
Income:
Donations in Kind
2
Grant Funding
3
Café Sales
Hire Income
Other Income
4
Total
Expenditure:
Charitable activities
5
Direct Costs
Governance Costs
Total
Net incoming resources before transfers
Transfer between funds
-
Net incoming resources
Balances brought forward at 1st
November 2023
Balances carried forward at 31st
October 2024
13
Restricted
Funds
£
Unrestricted
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
-
-
-
4,400
35,805
2,850
38,655
198,894
-
18,691
18,691
34,597
-
83,668
83,668
58,314
-
2,800
2,800
9,015
35,805
108,009
143,814
305,220
(29,028)
(84,308)
(113,336)
(96,914)
(370)
(20,269)
(20,639)
(34,989)
-
(1,860)
(1,860)
(1,500)
(29,398)
(106,437)
(135,835)
(133,403)
6,407
1,572
7,979
171,817
(17,661)
17,661
-
-
(11,254)
19,233
7,979
171,817
699,896
48,858
748,754
576,937
688,642
68,091
756,733
748,754

The notes on pages 9 to 15 form part of these financial statements.

7

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Balance sheet as at 31[st ] October 2024

Notes
Fixed assets
Tangible fixed assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets
Net assets
Funds
Restricted income funds
13
Unrestricted funds
13
Total charity funds		 2024
2023

£
£
£
667,685
666,889
3,230
3,284
93,566
106,865
96,796
110,149
(7,748)
(28,284)
89,048
81,865
756,733
748,754
688,642
699,896
68,091
48,858
756,733
748,754		 2024
2023

£
£
£
667,685
666,889
3,230
3,284
93,566
106,865
96,796
110,149
(7,748)
(28,284)
89,048
81,865
756,733
748,754
688,642
699,896
68,091
48,858
756,733
748,754
748,754
699,896
48,858
748,754

Approved by the board of trustees on June 2025 and signed on their behalf by:

----- Start of picture text -----
(Trustee)
----- End of picture text -----

Charity Number SC047890

The notes on pages 9 to 15 form part of these financial statements.

8

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Notes to the financial statements for the year ended 31st October 2024

1. Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and The Charities Accounts (Scotland) Regulations 2006.

Tullibody Community Development Trust constitutes a public benefit entity as defined by FRS 102.

Assessment of going concern

The Trustees are of the opinion that sufficient funding is in place to cover their planned activities for 2024/25 and beyond. It is the considered opinion of the trustees that the charity has in place a business model which will enable it to continue to operate for at least a period of 12 months from the approval date of these financial statements. As a result, the going concern basis of accounting has been adopted.

Incoming resources

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified under the following activity headings:

Operating leases

Rentals payable under operating leases are charged against income on a straight-line basis over the lease term.

Pensions

The charity makes contributions to personal pensions for staff who have not opted out. These pensions are defined contribution in nature and the charity contributions are accounted for by recognising amounts payable in the period in the statement of financial activities.

9

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Notes to the financial statements for the year ended 31st October 2024 (continued)

1. Accounting policies (continued)

Tangible fixed assets

The cost of tangible fixed assets is their purchase cost or, if gifted, their value at the date of gift.

Depreciation

Depreciation is provided on fixed assets to write off the cost, less the estimated residual value, of each asset over the period of its estimated useful life, as follows:

Plant and Machinery 25% Straight-line Fixtures, Fittings and Equipment 25% Straight-line Buildings 2% Straight-line

Debtors

Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any discounts due.

Cash at bank and in hand

Cash at bank and in hand to meet day to day running costs of the charity as they fall due. Cash equivalents are short term, highly liquid instruments, usually in 90 day notice interest bearing savings account.

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. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

Donated Goods and Services

Donated goods and services are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated goods and serviced are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain the services on the open market, a corresponding amount is then recognised in expenditure in the period of the receipt.

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 remeasured at their settlement value.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

10

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Notes to the financial statements for the year ended 31st October 2024 (continued)

2. Donations

Donations
Donation in Kind – History Group
3.
Grants Received
National Lottery Community Fund
Clackmannanshire Council
Others
4.
Other Income
Other Donations
Other Revenue		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
-
-
-
4,400
Unrestricted
Funds
£
-
Restricted
Funds
£
26,455
2024
Total
£
26,455
2023
Total
£
27,778
-
8,850
8,850
170,966
2,850
500
3,350
150
2,850
35,805
38,655
198,894
Unrestricted
Funds
£
1,956
Restricted
Funds
£
-
2024
Total
£
1,956
2023
Total
£
8,584
844
-
844
431
2,800
-
2,800
9,015

11

TULLIBODY COMMUNTIY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Notes to the financial statements for the year ended 31st October 2024 (continued)

5. Analysis of expenditure

Charitable Activities
Legal and professional fees
Cleaning
Insurance
Light, power and heating
Operating lease payments
Printing and stationery
Repairs and maintenance
Salaries
Instructor Costs
Pension costs
Telephone and internet
Gardening expenses
Rates
Depreciation
Other
Governance Costs
Independent examiner
Direct Expenses
Cost of goods sold
Direct Wages		 Unrestricted
Restricted
2024
2023
Funds
Funds
Total
Total
£
£
£
£
1,674
-
1,674
1,630
1,452
-
1,452
693
1,774
-
1,774
1,610
38,925
-
38,925
33,359
846
-
846
2,027
236
-
236
1,215
14,902
-
14,902
11,642
-
28,047
28,047
25,934
791
-
791
-
1,648
851
2,499
2,856
953
-
953
487
82
-
82
179
-
-
-
378
18,785
-
18,785
12,529
2,240
130
2,370
2,375
84,308
29,028
113,336
96,914
1,860
-
1,860
1,500
1,860
-
1,860
1,500
6,604
370
6,974
14,625
13,665
-
13,665
20,364
20,269
370
20,639
34,989

12

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Notes to the financial statements for the period ended 31st October 2023 (continued)

6. Operating surplus

The operating surplus is stated after charging:-
Depreciation
Operating lease rentals		 2024
£
18,785
846		 2023
£
12,529
2,027

7. Wages and Salaries

A summary of the wages costs for the charity’s employees is shown below: -

Aggregate gross wages and salaries paid to employees
Other pension costs		 2024
2023
£
£
41,712
46,298
2,499
2,856
44,211
49,154

Number of Employees

The average number of employees during the period was 2 (2023: 3).

No employee received remuneration in excess of £60,000.

No Trustee received any remuneration during the period.

8. Tangible fixed assets

Cost
At 1stNovember 2023
Additions
Disposals
At 31 October 2024
Depreciation
At 1stNovember 2023
Charge for the period
On disposals
At 31 October 2024
Net book value
At 31 October 2024
At 31stOctober 2023		 Fixtures,
Fittings &
Plant &
Buildings &
Equipment
£
Machinery
£
MUGA
£
Total
£
734
7,368
695,056
703,158
-
10,731
8,850
19,581
-
-
-
-
734
18,099
703,906
722,739
498
4,633
31,138
36,269
184
-
4,523
-
14,078
18,785
-
682
9,156
45,216
55,054
52
8,943
658,690
667,685
236
2,735
663,918
666,889

13

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation

Notes to the financial statements for the year ended 31st October 2024 (continued)

9. Debtors

Debtors
Prepayments		 2024
£
1,790
1,440
3,230		 2023
£
2,010
1,274
3,284

10. Creditors: amounts falling due within one year

Accruals & Deferred income 2024
£
2023
£
7,748
28,284

,

11. Operating lease commitments

The charity had total future minimum commitments under non-cancellable operating leases of:-

Within one year
Between 2 and 5 years
Over 5 years		 2024
£
2023
£
-
662
-
-
-
-
-
662

12. Analysis of net assets between funds

2.
Analysis of net assets between funds
Fixed assets
Current assets
Debtors
Cash at bank and in hand
Current liabilities
Net current assets
Net Assets/Funds		 Restricted
Unrestricted
2024
Total
Funds
2023
Total
Funds
£
£
£
£
658,690
8,995
667,685
666,889
-
3,230
3,230
3,284
33,702
59,864
93,566
106,865
33,702
63,094
96,796
110,149
(3,750)
(3,998)
(7,748)
(28,284)
29,952
59,096
89,048
81,865
688,642
68,091
756,733
748,754

14

TULLIBODY COMMUNITY DEVELOPMENT TRUST Scottish Charitable Incorporated Organisation Notes to the financial statements for the year ended 31st October 2024 (continued)

13. Fund Reconciliation
Unrestricted funds
General funds
Restricted funds
National Lottery
Scottish land fund Capital
Clackmannanshire council
Clackmannanshire council –
MUGA Pitch Project
History Group Fund
Other grants		 At 1st
At 31st
November
2023
£
48,858
Income
£
108,009
Expenditure
£
(106,437)
Transfer
£
17,661
October
2024
£
68,091
48,858
108,009
(106,437)
17,661
68,091
23,226
26,455
(28,898)
(3,513)
17,270
266,025
-
-
-
266,025
227,997
8,850
-
(10,680)
226,167
169,966
-
-
(3,468)
166,498
4,400
-
-
-
4,400
8,282
500
(500)
-
8,282
699,896
35,805
(29,398)
(17,661)
688,642
748,754
143,814
(135,835)
-
756,733

Purposes of restricted funds -

Scottish Land Fund

Grants received were to help with the purchase of Tullibody Community Centre, legal fees associated with purchasing the building, Health and Safety, repairs and the cost of employing a facilities co-ordinator.

On-going grants received toward employing coordinator and running costs of the Centre.

Clackmannanshire Council

The acquisition of the centre from Clackmannanshire Council includes a clawback period which restricts the use of the site, a breach of any agreed terms could result in re payment of £306,475. The fund balance along with the original grant from Scottish Land fund are presented as the net book value of the centre building.

Clackmannanshire Council – MUGA Pitch Project

This grant represents the funding contribution to the redevelopment of the bowling green to the new multi-purpose pitch. The funding includes a clawback period which restricts use for at least 10 years.

History Group

The Tullibody History Group agreed to dissolve, surrender their charity status and transfer all assets to TCDT. They continue to operate as a sub-group of TCDT and as such the assets they transferred to TCDT are exclusively for their use.

Other grant funding

Individual grants from external organisations restricted for certain purposes.

15