Sc¢)ttlsh Charffy No. SC049552 Company No. SC636405 KINCARDINE COMMUNITY ASSOCIATION LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST March 2024 Dlckson Mlddlelon Chartered Accovnlar)ts www.dlcksonmlddleton.co.uk The UK 200 Group PTact15ing Chartered Accountants
KINCARDINE COMMUNITY ASSOCIATION LIMITED Contenls Page Report of the trustees Indepéndenl Examiner's report Slalemenl of Financial Activities Balance sheet Noles to Ihe financial stalements 8-12
KSNCARDINE COMMUNITY ASSOCIATION LIMITED Report ol the Iwstees for the year ended 37 March 2024 me trustees have pleosure in presenting their annual report. which incorporates the Slralegic Rep(xl, and the examined Financial Slalemenls lor the period ended 3151 Morch 2024. In preparing this feport the Trustees hove complied wlh the Chariltes and Truslee Investment (Scollandl Act 2005 and applicable accounling slondord5. REFERENCE AND ADMINISTRAIIVE DEfAILS Charlly Number SC049552 Company Number SC636405 Princlpal & Regisl¢fed Office Kincardine Community Centre l Anderson Place Kincordineshire Alloa FK1045F Bankers Bank of Scotland 7113 Port Street Slirting FK8 2EJ Independent Examlner Robert Taylor CA Dickson Middleton Chorlered Accounlonls 20 Bomton Street sttding FK81NE Trustees The Iruslees, who are also Directors. who served from l April 2023 ore os follows.. C. Kenny T.M Kenny C.E O'Neill E.M Trevett M.J Tievett A.D Hood K.J.J Grahom IResigned I st Jvly 20241 IResigned I sl October 20241 IAppoinled 26th June 20231 IAppoinled 26th October 20231
KINCARDINE COMMUNITY ASSOCIATION IIMETED Report of the lyustees loi Ihe yeor ended 31st March 2024 (Contlnuedl OBJECTIVES AND ACTIVITIÈS The Company was incorporated in Jvly 2019 0$ o successor to the previous charitable orgonisalion the Kincardine Community Associalion. The Kincordine Community Association Ltd IKCAI is also the Developmenl Trust l(y Kincordine. We currently manage the Community Cenlre that provides a wide range of octivilies for the residents of Kincardine, including o Community Food Hub ond the Kincordine Kinema. The company was formed to benefit Ihe commvnily ol Kincardine. STRUCTURE. GOVERNANCE AND MANAGEMENT Govemlng Document. Board and Declslon Maklng KCA has o Memorandum and Articles ol Association Ihol govems 115 Qperolion. The volunteer board is comprised ol a maximum 019 volunteer member5. The Board currenlw comprise5 015 Directors and Trustees and meets 12 limes per annum. The day lo day management of the centre 15 delegoled lo the Centre Coordinator who regulady reports directly lo the Board. Twstee Recwllmeftt. Appolntment and Tra5nlng KCA recnJils new Tru51eelDirectors from the residents ol Kincardine who have shown on interest in the Community A550ClOtion. Proposals are made lo Ihe board ond appointments ore mode lo the Trustees al on annual AGM. If there ore unlilled p05ilions members may be co-opted onlo the Truslees. Membership ol the As50cialion 15 free and is open to oll residents ol Kincordine. ACHIEVEMENTS AND PERFORMANCE We have conllnued lo dellver on the reqviremenls of the service level agreement with File Council. The Community Centre FX)St COVID has rebvill Its group meetings and aclivilies. and new group5 Offering different oclivilies are now using the Centre. including Yogo. Piloles, Donce. Bodminlon ond Table Tennis. The food hub has restorted however we hove noticed a drop off in the availobilily o15tock from Foreshare and we are reviewing how we may improve this siluolion. The new Kincardine Kinema has shown ils fi¥st films. Achl•vemenls dwlng Ihe perk*d: Conlinued lo improve our Centre and provide more flexible spoce for octivities, grovps. sport ond exeici5e c10s5es 0$ o resource lor the community. Continuing to review how the food hub can help more people. Insliluled energy saving measures lo reduce our increasing energy costs. Opened the Kincardine Kinema.
KINCARDINE COMMUNITY ASSOCIATION LIMITED Report ol Ihe Iruslees for the year ended 31st Morch 2024 [connued} FINANCIAL REVIEW The Trusts income in the year wos mode up of donations, grant funding and operational income. Grant income originated from Fite Council through our Service Level Agreement. other grants were from Cooifields Regenerotion Trust, the CO-OP and File Council Participatory Budget. The expenditure over the year conslsted of operating expenses and staff costs. At 31 March 2024 the available funds balance was £15,91712023: £25,728). STATEMENT OF THE CHARITY'S POLICY ON RESERVES 11 is the policy of the Boord to moinlain o reserves bolance to allow the centre lo continue lo operate in the short term in the event of an immediate reduction in funding. FUTURE PIANS Endeavour to keep the Communily Cenlre open Expand the ronge ol oclivities in the Community Cenlre Allracl more groups lo use the Cenlre Improve the volvnleer experience Develop and build on partnerships other groups and organisotions, such as Coaltld Regeneration Trusl. Developmenl Trust As59ciolion Scollond, Fife Volvnlory Action, Food Resilience Group ond Grow West Fife Negoliale a lease lor the Community Centre with File Council Prepare o Ivll energy svrvey of the Centre to reduce costs Prepare a plan lor pre and after school care Widen the activities ol the Development Trust into the Kincordine commvnily Continue lo work positively wlh File Council departments
KINCARDINe COMMUNITY ASSOCIATION LIMITED Report ol the trustees for the year ended 31 st March 2024 (Contlnued) TRUSTEES, RESPONSIBILITIES The Iiuslees ore re5pon5ib1e lor pfeporing the Report ol the Trustees and the financial 51olemenls in accordance w?th applicable law and Uniled Kingdom Accounting Slondaids Iuniled Kingdom General Accepted Accovnling PTaclicel. The law applicat4e lo charities in Scotland requires the Iruslees lo prepore finoncial slateTner)Is lor each linanciol year thol gives o true and loir view ol the slate ol affairs of the charity and ol the incoming resources, inc5uding the income and expenditure. of the chority for the yeor. In preparing these financiol slolemen15. the tru5tee5 ore required lo.. Select suitable accounting polic*s and then apply them consistently; Obserye the methods ond principles in the Charities SORP 2015 IFRS1021.' Make judgements and eslimales that ore reasonable and prudent,. 51ate whether opplicoble UK Accounting Standards have been followed. subiecl lo ony molerial deporlures disclosed ond explained in the financial slolemenl5; Prepare the financial statements on a going concern basi5 unless il 15 inappropriate lo presume Ihol the chorily will continue in operolion. The trustees ore responsible for keeping proper occounling records that disclose with rea50noble occvracy ot any time the financial position of the charity and enob5e them to ensure that the financiol slalements comply wth Ihe Companies Act 2CK)6. the Chorilies ond Trustee Investment IScotloT)dl Act 2005, the Chorilies Accounts Iscollandl Regulations 26 las omendedl ond the provisions ol the charity's conslilution. They are also responsible for 501eguarding the assets ol the chority and hence lor toking reasonable steps lor the prevention and deleclion of fraud ond other irregularities. Approved by the Board TnJslee5 ond signed on ils beholl by- Mike Trevell Trustee 20 Moich 2025
KINCARDINE COMMUNITY ASSOCIATION LIMITED Independenl Examiner's Report to the Tiustees ol Klncardine Communlly Assoclolion LlmÉled for the year ended 314 March 2024 I report on the accounts ol the chority lor the period ended 31 March 2024 which are sel out on F)ages 6 to 7. Respectlye responslbllllles ol Tnjstees and examlner me charity's Trustees Iwho are also the directors of the company lor the purposes ot company lawl ore responsible ICK the preparation ol the occoun15 in accordance wlh the terms of the Chorities and Trustee Inve51menl Iscollondl Act 2005 ond the Chorilies Accounls 1Scotlandl Regulotions 2006. The chorify Ttustees consider Ihal Ihe audit requirement ol Regulation 101 I I Idl ol the Accounts Regulolions does not opply. It is my re5ponsibilily lo examine the linonciol slalemenls as required undeT section 4411 I Icl ol the Acl and lo slate whether porlicular molters hove come to my otlention. Ja$l$ of Independenl exomlner's statpmenl My examinalion is carried out in accofdonce with Regulation I l ol the Charities Accounts (Scollandl Regulations 2006. An exomination include5 a review ol the accounling records kept by the charity and a comparison ol the financial slalemenls presented in those records. 11 also includes considerolion of any unusuol items or disclosures in the linonciol stolements and seeks explonalion5 from the Iruslee5 conceming any such maller5. The procedures undertaken do not provide all the ewdence that would be required in an audit and, consequenlw I do nol expre55 an oudil opinion on the finoncial Statements. Independent examiner's stal¢ment In the course of my examination, no matter has come lo my oltenlion l. which gives me reasonable couse lo believe that in any material respect the requirements.. to keep accounting records in occordance wlh Section 44111 lal ol the 2(X)5 Act ond Regulation 4 01 the 2006 Accounts Regulolions. and to prepare frnancial stotements which accord wth the accounting records and compty with Regulation 9 of the 2CK)6 Account5 Regulo*ion5 have not been mel, or 2. to which, in my opinion. allenlion should be drown in order to enable a proper vnderslarkding ol the linonciol 51olemenls lo be reoched. I do nol. in givlng Ihis report. accept (y ossume responsibility lor any other purpose or lo any other person to whom this reporl is shown or in whose honds It may come, 50ve where expressly ogreed by my prior consent in WTiling. Robert Taylor CA Dlekson Middleton Chartered Accounlonts 20 barnlon Street stlillng FK81NE 20 March 2025
KINCARDINE COMMUNITY ASSOCIATION UMIYED Slalement ol Flnanclol Actlvllles (Includlng Income and expendlluie accounl) Ihe year ended 31st March 2024 Note 2024 Total Funds 2023 Totol Funds Unreslvlcted Iteslrfcled Fund5 Fund5 Income.. Donations Gronl Funding Hub Income Room Hire Income other income Tolal 1.814 36.996 1.814 36.996 6.048 6.671 369 51.898 2,129 31,387 7,056 6,114 35 46,721 6.671 369 51,898 EXPendVre. Choritable activities Govemonce Costs Total (60.409) 1.300 61,7 (60.409) IS4,5881 1,300 61.709 55,768 Nel incomlng resoufces belore transfeys (9.811) (9.811) 19.0471 Tronsler beh¥een lunds Net Incomlng iesovyces (9.811) (9.811) 19,0471 Balances brought forward at I sl April 2023 25.728 25.728 34,775 lolonces canled fonvard at 31*1 March 2024 15.917 15,917 25,728 The notes on pagv 8 to 12 lomi port of Ihese 1Snanclol stalements.
KINCARDINE COMMUNITY ASSOCIATION LIMITED Balance shed a5 at 31# March 2024 2024 2023 Notes Ftxed assets Tangible fixed ossels 5.347 490 Currenl assets Debtors Cash ol bank ond in hond 18,466 18.466 32,556 32,556 Credllors.. arnoun15 falling due wlhin one year 7.890 7,318 Net current assels 10.570 25,238 Net assets 15,917 25,728 Fund5 Reslricled income funds Unreslricled funds Totrol chortty funds 15.917 15.917 25,728 25,728 Audll exemptlon alement For the year ending 31 Morch 2024, the compony wos enlilled lo exemption from audit under section 477 of the Companies Acl 2(K>6 relating lo small companies. The members have not required the company lo obtain an oudil of it5 accounts for Ihe year in queslion in accordance wlh section 476,. The directors acknowledge their responsibilities lor complying wlh the requirements ol the Acl wilh respect to accounting records ond Ihe preparation ol accounts. These finoncial slolemenls have been prepared in accordance wlh the special provision5 lor small companies under Port 15 of the Compornies Acl 2(X)6. Approved by the Board ol Directors on 20 March 2025 and signed on ils behalf by Mlke Trevett Truslee Charfty Number SC049552 Company Number SC636405 The noles on pages 8 to 12 1M part ol the$e Ilnan¢lol Statements.
KINCARDINE COMMUNITY ASSOCIATION UMITED Notes lo Ihe Ilnanclal 51olemenls lor Ihe year ended 31$1 March 2024 l. Accountlng pollcles Basis of arolion The linoncial statements have been prepared under the historicol cost convention with items recognised al cost or Iransoclion volue unless othenhise slated in the relevonl notes lo these occounls. the financial statements have been prepared in OCCOfdance with the Slcflement of Recommended Practice.. Accounting ond Reporting by Charitie5 preparing their accounts in occordance with the Finoncial Reporling Slandord applicable in the UK ond Republic ol Ireland IFRS 1021 issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic ol Ireland IFRS 1021 and The Charities Accounts Iscollondl Regulotion5 2006. Kincordine Commvnily Association Lirnited constitutes o public benefit enlify as defined by FRS 102. A55e sm in rn The Trustees are ot the opinion Ihal sutficienl funding is in place lo cover their planned oclivilie5 lor 2024125.11 is the Consered opinion of the Iruslees that the charily hos in Joce a business modd which wll enoble it to continue lo operate lor al least a period of 12 months Iiom Ihe approval dale of these linanciol slolemenls. As a resull. the going concern basis ol accovnling has been adopted. In min All incorne is recogni5ed once the chority ha5 enlillemenl to the income, it is probable thol the income wll be received and the omounl ol income receivable can be measured reliably. Resources ex ended Expenditure is recognised once there is o legol or constfuclive obligation to transfer economic benefit lo o third poty, it Is proboble Ihot a transfer of economic benefits will be required in selllemenl and the amount ol the obligalion can be measured reliably. Expenditure is classified under the followng activity heading: Chcsrilable activities- these include the costs ol activities undertaken to Ivrther the purposes ol the charily and Iheir ossocialed svpporl cosls. bf Debtors are recogni5ed ot Ihe settlement amount due. redil Creditors ore recognised where the chaiity hos o presenl obligotion resulting from a post evenl that wll probobly result in the tronsler of funds to a third porty and the omount due 10 settle the obligation can be measured or estimated ¥eliably. Credil(xs are norrrKJlly recognised at their selllemenl omounl olter allowng for ony discounts due. rvic Donated goods and services are recognised as income when the charity has control over the item, ony conditions o5$0cioled wlh the donated item have been met, the ieceipl ol economic benelil from the Use by the charily ol Ihe item is probable and that economic benelil con be measured reliably. On receipt. donated goods and services are recognised on the bas ol the value ol the gill lo the charity which 15 the amount Ihe chority would have been willing to poy lo obtoin the service5 on the open markel, a cotTesponding amount is then recogni5ed in expenditure in the period of the receipt.
KINCARDINE COMMUNITY ASSOCIATION LIMITED Notes lo the ffinanclal stolements loi the year ended 31$t Morch 2024 (contlnued) l. Accounting Fx>licies (continued) Fin lin nl The chorily only has linoncial asse15 and financial 5iabililies ol a kind Ihot qualify os bastc financial inslrumenls. Basic finoncial inslrvmenls OTe iniliolly recognised ol transaction value and subsequently remeasured al their settlement value. General funds ore unreslrlcled funds which ore available for use ot the discretion of the Truslees in furtherance ol the general ot4ective5 01 the charity ond w*ich have not been designaled lor other purposes. 2. Donollon$ Unreslrlcted Reslrlcted Funds Funds 2024 Tolal 2023 Tolal Donollon$ Other Donations 1,814 1.814 1,814 1.814 2,129 2.129 Grants Re¢elYed Uniestrlcled Funds Reslrfded Funds 2024 Tolal 2023 Total rile Covncil File Council PA YAB Others < £l.O(YJ 36.406 36.406 30,662 173 552 31,387 590 36,990 590 36.996
KINCARDINE COMMUNITY ASSOCIATION UMITED Nole5 to the Ilnanclal 5talemenls for the year ended 31 st March 2024 (contlnved) Analysis of expendlture Unre511icted Funds Reslricted Funds 2024 Tolal 2023 Total Chailloble AcNvMes Insurance ghl. power ond heoling Ollice costs Materials Repairs ond moinlenance Salaries Telephone ond inlemet Slofl/Truslee expenses Depreciolion Qlher Cost5 505 12,337 1.297 6.286 1.150 35,066 653 150 1,837 1.128 505 12.337 1.297 6.286 1.150 35.066 6S3 150 1.837 1.128 713 11,734 2.154 3,188 34.518 522 23 163 1,573 6Q.409 60.409 54,588 Govemance Cosls Independent examiner 1,300 1.300 1.180 Wo9es and Solorles A summory of the woges cos15 for the charity's employees is shown below.. - 2024 2023 Aggregate gross wages and salaries paid lo employees 35.066 34.518 Number ol Employge$ The average number ol employees during the period was 312023.. 31. No employee received remunerolion in excess of £60.0W. 10
KINCARDINE COMMUNITY ASSOCIAIION LIMITED Notes to Ihe flnanclal statements lor Ihe perfod ended 3151 March 2024 (Continued) 6. fanglble Fixed Assets Plont ond Equlpment Cosl At April 2023 Additions At 31st March 2024 653 6,694 7,347 653 6,694 7,347 DepTecktllon Al 151 April 2023 Charge for y8or Al 315, March 2024 163 1.837 163 1,837 Nel book Value Af 31 March 2024 5.347 5,347 At 31 $1 Morch 2023 490 490 Debtors 2024 2023 Grants Receivable 8. Credltofs- amounts lalling due wllhln one year 2024 2023 Accruols Other Credilors 6.620 1270 7.896 4,664 2,654 7.318 g. Fund Reconc4lallon Al 14 AprH 2023 At31 March 2024 Income Expendtture Transfer Unreslrfcted Ivnds General funds 25.728 51.898 161.7091 15,917 25,728 51,898 161,7091 15,917 Restrfcled funds Othèr grants 25.728 51.898 161,7091 15,917
KINCARDINE COMMUNITY ASSOCIAIION LIMITED Notes lo the ffnanclal stotemenls lor Ihe perfod ended 37 March 2024 (contlnued) io. Analysls ol nel assets behveen lunds 2024 Total Funds 2023 Total Funds Reslvlcled Unreslvlcled Flxed assets Current assets Debtors Cosh ot bonk ond in hond 5.347 5.347 490 18,466 18.466 7.896 18.466 18,466 7.896 32,556 32.556 7,318 Cwrent Ilabllllle$ Net cuirent assets 10.570 10.570 25.238 Nel Assets Fvnds 15.917 75.917 25.728 12