2024-10-01-accounts - Reconnect SCIO

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Reconnect SCIO

Charity No. SC048076 Unaudited Accounts 01 October 2024

Reconnect SCIO Contents

	Pages
Independent Examiner's Report		2
Statement of Financial Activities		3
Summary Income and Expenditure Account		4
Balance Sheet		5
Statement of Cash flows		6
Notes to the Accounts	7 to	15
Detailed Statement of Financial Activities	16 to	18

Page 1

Reconnect SCIO Independent Examiners Report

Independent Examiner's Report to the trustees of Reconnect SCIO

I report on the financial statements of Reconnect SCIO for the period ended 1 October 2024 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the financial statements 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) (a) to (c) of the 2006 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 independent examiner's report

My examination was carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with 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 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
to prepare financial statements which accord with the accounting records, 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 financial statements to be reached.

Jon Norton Association of Accounting Technicians Barefoot Accounting Ltd

Regent House Linlithgow West Lothian Scotland EH49 7HU 10 June 2025

Page 2

Reconnect SCIO Statement of Financial Activities

for the period ended 1 October 2024

Unrestricted funds 2024 £ 648,322 271,774 4,055 5,770	Restricted funds 2024 £ 142,685 - - -	Total funds 2024 £ 791,007 271,774 4,055 5,770	Total funds 2023 £ 289,163 73,680 17 -
929,921 75,639 215,667 607,550	142,685 - 17,116 149,571	1,072,606 75,639 232,783 757,121	362,860 26,005 22,170 249,603
898,856 -	166,687 -	1,065,543 -	297,778 -
31,065 -	(24,002) -	7,063 -	65,082 -
31,065	(24,002)	7,063	65,082
31,065 290,409	(24,002) 24,002	7,063 314,411	65,082 146,244
321,474	-	321,474	211,326

Page 3

Reconnect SCIO Summary Income and Expenditure Account

for the period ended 1 October 2024

Income Interest and investment income Gross income for the period Expenditure Interest payable Depreciation and charges for impairment of fixed assets Total expenditure for the period Net income before tax for the period Net income for the period	2024 £ 1,068,551 4,055 1,072,606 1,022,801 72 42,670 1,065,543 7,063 7,063	2023 £ 362,843 17
		362,860
		279,512 551 17,715
		297,778
		65,082
		65,082

Page 4

Reconnect SCIO Balance Sheet

at 1 October 2024

Charity No. SC048076 Notes 2024 £ Fixed assets Tangible assets 13 137,945 Investments 14 28,900 166,845 Current assets Stocks 15 36,304 Debtors 16 69,869 Cash at bank and in hand 100,301 206,474 Creditors:Amount falling due within one year 17 (51,845) Net current assets 154,629 Total assets less current liabilities 321,474 Net assets excluding pension asset or liability 321,474 Total net assets 321,474 The funds of the charity Restricted funds 18 Restricted income funds - - Unrestricted funds 18 General funds 321,474 321,474 Reserves 18 Total funds 321,474	2023 £ 110,530 28,900
	139,430 - 18,973 222,039
	241,012 (66,031)
	174,981 314,411
	314,411
	314,411
	24,002
	24,002 290,409
	290,409
	314,411

The trustees have prepared the accounts in accordance with section 44 of the Charities and Trustee Investment (Scotland) Act.

Approved by the board on 10 June 2025

And signed on its behalf by:

P. SNEDDON Trustee 10 June 2025

Page 5

Reconnect SCIO Statement of Cash flows

for the period ended 1 October 2024

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Increase in stocks Increase in trade and other receivables (Decrease)/Increase in trade and other payables Net cash (used in)/provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash used in investing activities Cash flows from financing activities Repayment of borrowings Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period Components of cash and cash equivalents Cash and bank balances	2024 £ 7,063 42,670 (9,825) (36,304) (50,896) (9,776) (57,068) (70,085) 9,825 (60,260) (4,410) (4,410) (121,738) 222,039 100,301 100,301 100,301	2023 £ 65,082 17,714 (17) - (11,910) 24,278
		95,147 (44,653) 17
		(44,636)
		(602)
		(602)

		49,909
		201,030
		250,939

		222,039

		222,039

Page 6

Reconnect SCIO Notes to the Accounts

for the period ended 1 October 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 the the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Reconnect SCIO Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

useful life:
Leasehold property	20% Straight Line
Theatre Equipment	20% Straight Line
Motor Vehicles	20% Straight Line
Fixed Assets	20% Straight Line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 8

Reconnect SCIO Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for nay trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 9

Reconnect SCIO Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Charitable status

The Charity is a Scottish Charitable Incorporated Organisation (SCIO), governed by a constitution.

3 Statement of Financial Activities - prior year

Income and endowments from: Charitable activities Other trading activities Investments Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from charitable activities Theatre Sales Capital Grant Covid Grants Revenue Grants	Unrestricted £ 648,322 - - - 648,322	Unrestricted funds 2023 £ 194,692 73,680 17 268,389 26,005 1,050 97,169 124,224 144,165 144,165 144,165 146,244 290,409 Restricted £ - - - 142,685 142,685	Restricted funds 2023 £ 94,471 - - 94,471 - 21,120 152,434 173,554 (79,083) (79,083) (79,083) 103,085 24,002 Total 2024 £ 648,322 - - 142,685 791,007	Total funds 2023 £ 289,163 73,680 17
				362,860 26,005 22,170 249,603
				297,778
				65,082
				65,082
				65,082 249,329
				314,411
				Total 2023 £ 194,442 42,039 6,156 46,526
				289,163

Page 10

Reconnect SCIO Notes to the Accounts

5 Income from other trading activities

Unrestricted £ 271,774 271,774 Unrestricted £ 4,055 4,055 Unrestricted £ 5,770 5,770	Total 2024 £ 271,774 271,774 Total 2024 £ 4,055 4,055 Total 2024 £ 5,770 5,770	Total 2023 £ 73,680
		73,680
		Total 2023 £ 17
		17
		Total 2023 £ -
		-

Unrestricted £ 75,639 75,639 Restricted £ 17,116 17,116	Total 2024 £ 75,639 75,639 Total 2024 £ 232,783 232,783	Total 2023 £ 26,005
		26,005
		Total 2023 £ 22,170
		22,170

Page 11

Reconnect SCIO Notes to the Accounts

10 Other expenditure

Bank loan and overdraft interest payable Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 11 Net income before transfers This is stated after charging: Depreciation of owned fixed assets ex greatia payment details 12 Staff costs Salaries and wages Social security costs Pension costs No employee received emoluments in excess	Unrestricted £ 72 387,193 4,921 70,593 19,170 103,991 21,610 607,550 of £60,000.	Restricted £ - 54,541 - 71,530 23,500 - - 149,571 2024 £ 42,670 2024 348,566 17,559 4,367 370,492	Total 2024 £ 72 441,734 4,921 142,123 42,670 103,991 21,610 757,121	Total 2023 £ 551 184,614 4,047 20,693 17,715 15,711 6,272
				249,603
				2023 £ 17,715 2023 47,002 5,280 -
				52,282

Page 12

Reconnect SCIO

Notes to the Accounts

13 Tangible fixed assets

Land and buildings £ Cost or revaluation At 2 April 2023 86,154 Additions 5,604 At 1 October 2024 91,758 Depreciation and impairment At 2 April 2023 24,435 Depreciation charge for the year 18,769 At 1 October 2024 43,204 Net book values At 1 October 2024 48,554 At 1 April 2023 61,719 14 Investments Cost or revaluation At 2 April 2023 At 1 October 2024 Net book values At 1 October 2024 At 1 April 2023 15 Stocks Raw materials and consumables Carrying value analysed by activities Bar Sales 16 Debtors Trade debtors VAT recoverable	Theatre Equipment £ 17,343 10,364 27,707 3,153 5,077 8,230 19,477 14,190	Motor Vehicles £ 2,995 35,649 38,644 749 9,016 9,765 28,879 2,246 2024 £ 36,304 36,304 2024 £ 36,304 36,304 2024 £ 57,681 12,188 69,869	Fixed Assets £ 40,631 18,468 59,099 8,256 9,808 18,064 41,035 32,375 Other investments - Unlisted £ 28,900 28,900 28,900 28,900	Total £ 147,123 70,085
				217,208
				36,593 42,670
				79,263
				137,945
				110,530
				Total £ 28,900
				28,900
				28,900
				28,900
				2023 £ -
				-
				2023 £ -
				-
				2023 £ 16,731 2,242
				18,973

Page 13

Reconnect SCIO Notes to the Accounts

17 Creditors:

amounts falling due within one year

Creditors: amounts falling due within one year
Other loans Trade creditors Other taxes and social security Other creditors	2024 £ 19,988 24,558 1,310 5,989 51,845	2023 £ 24,398 9,203 5,439 26,991
		66,031

18 Movement in funds

18 Movement in funds
	At 2 April 2023 14,403 6,156 5,156 (1,713) - - - 24,002 290,409 314,411	Incoming resources (including other gains/losses) £ - - - 15,575 3,610 100,000 23,500 142,685 929,921 1,072,606	Resources expended £	Gross transfers £ - - - - - - - - - -	At 1 October 2024 £ - - - - - - -
Restricted funds: Restricted income funds: West Lothian Council Scotland on Tour Corra Creative Scotland Voluntary Sector Gateway West Lothian Community Choices (WLC) Total Unrestricted funds: General funds Total funds
			(14,403)
			(6,156)
			(5,156)
			(13,862)
			(3,610)
			(100,000)
			(23,500)
			(166,687) (898,856) (1,065,543)
					-
					321,474
					321,474

Purposes and restrictions in relation to the funds:

Restricted funds: West Lothian Council Refurbishment of Theatre Buildings Scotland on Tour Supporting Emerging Artists Post-Covid Corra Inclusive Theatre Access Community Tickets Creative Scotland Community Development Projects and Professional Theatre Programing Voluntary Sector Gateway Mental Heath and Wellbeing Fund West Lothian Cover Revenue Costs of New Theatre Community Choices (WLC) Community Choices

Page 14

Reconnect SCIO Notes to the Accounts

19 Analysis of net assets between funds

19 Analysis of net assets between funds
Fixed assets Investments Net current assets 20 Reconciliation of net debt Cash and cash equivalents Borrowings Net Debt	Unrestricted funds £ 66,565 28,900 137,451 232,916 At 2 April 2023 £	Restricted funds £ 71,380 - 17,178 88,558 Cash flows £	Total £ 137,945 28,900 154,629
			321,474
			At 1 October 2024 £
	222,039	(121,738)	100,301
	222,039 (24,398)	(121,738)	100,301 (19,988)
		4,410
	(24,398) 197,641	4,410 (117,328)	(19,988)
			80,313

Page 15

Reconnect SCIO Detailed Statement of Financial Activities

for the period ended 1 October 2024

Income and endowments from: Charitable activities Theatre Sales Capital Grant Covid Grants Revenue Grants Other trading activities Bar Sales Investments Other Total income and endowments Expenditure on: Costs of other trading activities Bar Sales Total of expenditure on raising funds Charitable activities Theatre Sales Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable Employee costs Salaries/wages Employer's NIC Pension costs Staff entertainment Staff training Temporary staff	Unrestricte d funds 2024 £ 648,322 - - - 648,322 271,774 271,774 4,055 4,055 5,770 5,770 929,921 75,639 75,639 75,639 215,667 215,667 215,667 72 72 308,897 16,535 4,367 1,018 7,388 48,988	Restricted funds 2024 £ - - - 142,685 142,685 - - - - - - 142,685 - - - 17,116 17,116 17,116 - - 39,669 1,024 - - - 13,848	Total funds 2024 £ 648,322 - - 142,685 791,007 271,774 271,774 4,055 4,055 5,770 5,770 1,072,606 75,639 75,639 75,639 232,783 232,783 232,783 72 72 348,566 17,559 4,367 1,018 7,388 62,836	Total funds 2023 £ 194,442 42,039 6,156 46,526
				289,163
				73,680
				73,680
				17
				17
				-
				-
				362,860 26,005
				26,005
				26,005 22,170
				22,170
				22,170 551
				551
				47,002 5,280 - 1,366 7,064 123,902

Page 16

Reconnect SCIO Detailed Statement of Financial Activities

Motor and travel costs Vehicles - General costs Travel and subsistence Premises costs Rent Light, heat and power Premises cleaning Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Theatre Equipment Depreciation of Motor Vehicles Depreciation of Fixed Assets Bank charges Equipment expensed Equipment repairs and maintenance General insurances Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees fees Accountancy and bookkeeping Consultancy fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income	387,193 3,171 1,750 4,921 10,606 1,094 16,692 42,201 - 70,593 - - 19,170 6,989 5,296 10,554 8,181 18 6,703 5,507 19,729 35,541 5,473 123,161 918 9,767 5,747 5,178 21,610 607,550 898,856 - 31,065	54,541 - - - - 352 178 71,000 - 71,530 - - 23,500 - - - - - - - - - - 23,500 - - - - - 149,571 166,687 - (24,002)	441,734 3,171 1,750 4,921 10,606 1,446 16,870 113,201 - 142,123 - - 42,670 6,989 5,296 10,554 8,181 18 6,703 5,507 19,729 35,541 5,473 146,661 918 9,767 5,747 5,178 21,610 757,121 1,065,543 - 7,063	184,614
				905 3,142
				4,047
				6,416 190 2,626 8,086 3,375
				20,693
				- - 17,715 506 - - 1,426 11 4,081 1,088 2,755 3,505 2,339
				33,426
				1,164 - 3,300 1,808
				6,272

				249,603
				297,778 -
				65,082

Page 17

Reconnect SCIO Detailed Statement of Financial Activities

Reconnect SCIO Detailed Statement of Financial Activities
Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	31,065 - 31,065 290,409 321,474	(24,002) - (24,002) 24,002 -	7,063 - 7,063 314,411 321,474	65,082 -
				65,082
				146,244
				211,326

Page 18

Signed By

p sneddon

Date Signed 2025-06-12 15:09:38 Email Pete@reconnectregalbathgate.com Printed Name p sneddon IP Address 151.2.196.111 Browser User Agent Mozilla/5.0 (Macintosh; Intel Mac OS X 10_15_7) AppleWebKit/605.1.15 (KHTML, like Gecko) Version/15.5 Safari/605.1.15 Name of signatory Peter Sneddon