AULTBEA COMMUNITY HUB Scottish Charity: SC049741 Trustees, Annual Report Financial Statements for the Period Ended 31 December 2024 Swan Accountants Studio 208, Embroidery Mill Abbey Mill Business Centre Paisley, PAI ITJ Page | I
AULTBEA COMMUNITY HUB (sao) SC049741 TRUSTEES, ANNUAL REPORT and FINANaAL sfATEMENrs Forthe perlod ended 31 December 2024 CONTENTS PAGE Trustees. Annual Report Independent Examinerfs Report Profr( & Loss Account ststement of Balances Notes to the A¢Unts Tanglble Flxed Assets Register Page12
AULTBEA COMMUNITY HUB (sao) 5C049741 TRUSTEES ANNUAL REp(T Forthe year period 31 December2024 The trustees present thcir annual report and finattial statements for the period ended 31 Decembèr 2024, along wlth the independent examinerfs report. Auhbea Corrbmunity Hub ISCIOI 15 a chaFIty re8lStered with the Office of the Scottish tharity Regulat¢r IOSCRI, tharlty number SC049741. Iru5tees The Trustee5 who Served during the period and were in office on 31" Dember 2024 were. Structure, Go¥ernance and Manasement The Charlry Is governed by Its cOnst6tutn. Oblectlves and Actlvltles The objectives of the charity are: The advancement of titizenship or community development, The advancement of the arts. herrtage. and culture. The provision of recreational facilities with thè objert of imyovinc the conditions of life for the persons for whom thè facllltlès or actl¥itl•s are primarity intended Achlevements and Pqrform•n¢• All activities continued durin8 the year. Includln8 the contlnuation of Quiz Nights. 3 Lochs Cinema provided eight films, a Andre R streamed perfomianee, a Filrn Festival in conjunction with the Ru551an Arttic Convoy Museum and an Indoor Flrework Dlsplay. Add115onal events were trOdUCed in ihe form ol a Skittle5 Night and two Whiskey Tasting evenings. "ve entertainment induded an aftemoon concert by the Inverness Military Wives Cholr and performances by local pipers at an St. Andrew5 Night event as well as the second Whiskev tasting evening. Two Tabletop sales were organised to raise addttional fvnds forthe redevelopment projert The Trustees have made sienifThnt endeavours to secure funding forthe re4evelopment of the building the priority being improvements to the heating and irsuLatk)n. To this end a grant has been received to install solar panels in 2025. Part of tsking the Project forward is a plan to extend the car-parking area. The land between the Church and the ain road IA8321 i5 currently owned by Aultbea Estates who have agreed in principle to transfer a 5uilable area for the extended car park to the Hub. A selllre prfi has now been agreed with the Estate arKI that purchase Is ongolng with the hdp of a generous donation towards the purchase and legal costs. Page13
Statement of Risk Insurances have been updated in line with development. TheTrustees have assessed the major risks to which he charity is exposed, those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate the eKposure to major risks. Finan¢ial Review These fully accrued accounts are prepared In accordan with the methods and principles of the Accounting and Reporting by Charities: Ststement of RecommerKled PractKe (the SORPI. Income from donations and grants is recognised when there is evidenceof entitMent to the gift, receipt is probable and its amount can be measured reliably. 3 Lochs Cinema remains as a restrict fund within the Authea Communtty Hub accounts. Totals of £10.609 was raised for general funds and £28,946 including gr3nts wag received for restricted funds durin the period. General funds include income from Hall Hire, fund-raising, donation5, rèntsls and bank interest. Payments in the period amounted to £9,495 in general funds arnl £12,317 in restricted funds, resulting in a surplu5 of £1,114 Sn general fund5 and a 5urplu5 of 16,629 in restricted furn15 a5 compared to an overall 5urpIu5 of £101,933 In the prevlous year. As of 31 December 2024, the charrty held tolal reserves of £132.598 of whKh £7.216 are unrestrKted, E69,889 are held In flxed assets and £55,493 In current assets restricted funds. In the view of the Trustees, the charty has sufficient unrestricted reser45 to continue to operate forthe foreseeablefuture. Approved by the Trustees and signed on ther behalf by: Page14
INDEPENDENT EXAMINERS REP(MT Forthe peric>d ended 31 December 2024 SC049741 I report on the accounts of AULTBEA COMMUNrrY HUB {SC049741) for the period ended 31 December 2024 which 3re Set out on pages 6-8. Respertive responsibblties of the Trnstees Ejomlner The charWs Trustees are responsib for the PTeparation of accounts in accordance wrf(h the terms of the Charitie5 and Trustee Investment (Scotlandl Art 2005 and Charities Accounts Ikotlandl Regulations 2006 las arnendedl. The charity Trustees con5iderthat the audit requirement of RegulatKin I1) lal to Icl of the 2006 Accounts Règulations éoes not apply. It is my resFX)nsibility to examlne the accounts as required under sectN)n 44{11 Icl of the Actand to state whether matters have come to my attention. Basis of Independent ExaminerfsStatement My examirsation 15 carried out In accordance wtth Regulation 11 of the Charitles Accounts {Scotlandl Regulations 2006. An examination indudes a remew of the accounting records kept by the charity and a comparison of the accounts presented in those records. It also includes the consideration of any unusual ttems or disclosures in the accounts and seeks explanations from the Trustees conceming suth matters. The wocedures undertaken do not provide all the evidence that tsld be required in an audr¢ and consequently I do not express an audit opinion on the view given by,the accounts. Independent Examlnerfs stateme In the course of my examination, matter has come to my attention: which gives me reasonable cause to believe that in any material respert the requirements: to keep 2ccountine records accordance with Sectlon 441111a) of the 2005 Act arvj Regulation 4 of the 2006 Aecounts Regulations, and to prepare accounts whith •¢¢ord with the accounting records and complywlth Regulation 8 of the 2CK)6 ACunt5 Re8ulation5 Have not been met, or 2. to whlch, In my opnlon, attention should drawn in order to enable a woper understanding of the accounts to be reached. Studio 205 Embroidery Mill Abbey Mill 8usiness Cèntre Paisley PAI ITJ Date: Page15
AULTBEA COMMUNrrY HUB SCD49741 PROFrr & LOSS sfATEMEKr For the period ended 31 December 2024 2024 2024 Unrestrkted Restricted 2024 Total 2023 Total Notes INCOME Grants Hall Hire Fundraising Donations Charity Don*ions Rental Income Bank Interest 3 Loch anema 27.921 27,921 3,796 4,279 381 182 1,530 441 1,025 39.555 103,053 4,187 1,525 15,590 3,796 4,279 381 182 1,530 441 717 162 1.592 126,826 1,025 EXPENDITURE Projert Development Lease Costs Maintenance Insurance Fundraising Costs ElectrIc¥ Website & Internet Professional Fees 3 Lochs Clnema Costs Coronation Tea Admin Costs Charity Donations Depreciation B8nklCredit Charges 7,687 8,687 8,562 30 1,136 1,614 194 1,641 405 3,374 2,645 2,275 24 783 188 1,724 3,049 404 299 783 1,724 3,049 2,099 1.485 59 182 1.797 io 59 182 3.142 io 1,345 2,987 9.495 Il317 21,812 24893 ProfiVILoss) for the period L114 17.743 IOL933 Page16
AULTBEA COMMUNttY HUB BAiANCE SHE As at 31 December 2024 SO)49741 Notes Unrestri(ted Restrirted Total 2024 2023 FIXED ASSETS Freehold Property Furniture & Fixtures clal Clnerna Equlpment 67.200 67,200 6+14 2,689 2,689 69,889 70,533 68,600 725 2,689 72A)15 CURRETrrf ASSErs Cash at Bank Savin8s Account Prepayments Debtors TOTAL CURRENT ASSErs 5.201 1,314 941 108 7,564 5.201 56,807 941 108 61157 4,119 38,166 55,493 129 55.493 aiRREKf UABIUTIES Accruals Deferred Income Creditors 859 133 859 133 150 769 919 TOTAL CURRENT LIABILrriES 992 992 NEf CURRENT ASSErs 6,5n 55.493 64065 41,495 TOTAL Nrf ASSErs 7.216 125.382 132.598 113.510 FUNDS Balance Blf @ 01.OL24(23) ProfrftlLoss for period Prior Year Adjustment 107.408 113.510 16,629 17.743 1,345 1.345 10,577 102.933 1.114 8alJnce Clf @ 31.12.241231 7,216 125,382 132,598 113,510 These accounts were approved the Trustee5 and 518ned on their behalf by. Page17
AULTBEA COMMUNrtY HUB NOTES TO THE ACCOUNTS For the year ended 31 December 2024 SC049741 l. Grants Ret*vable Scottish Land Fund Film Hub Scotland Scottish & Southern Energy Network Total £7,687 £234 £27,921 2. Restrfcted Funds Fund Bal. Bll £3.374 Income Expendlture Bal. Clf 3 Lochs Cinema £1,025 £1.485 £2,914 Scottlsh Land Fund Stage11 Fllm Hub Scotland £7,687 £7.687 £0.00 £234 £234 £0.00 Scottish & Southern Energy Network Projert Development Fund £20,¢JOO £0. £20,000 £30,000 £0.00 £30,0000 3. Debtors Croft Fresh Café £108 4. Credliors There are no creditors at the year end. 5. Actru•ls & Deferred Income Profes51onal Fees RM Rental Income £299 £133 6. Lease Costs There are no lease costs as the lease with the Church of kotiand ended Sn 2023 7. Charlty Donatlons Breast Cancer Research £182 8. Other Donations Donations from various donors for the general expense5 of the tharity Vre recorded In General Funds. Page18
- Tangil)le Flxed Assets Regbter Social anema Flxtures & Fitti$ Hub Cooker Radlo MIC Totals Freezer Crockuy Vinyl Floor Onema Equipment Dish Washer Cost At I'january 2024 Addition5 Disposals At 31" December 2024 70,000 1.365 1,279 765 1,130 609 664 315 76.652 315 1.130 609 979 76,967 70,000 1,365 1.279 765 De reclatlon At I'january 2024 Charge for Year On Disp05als At 31" December 2024 1,400 420 210 682 341 640 320 382 191 566 283 381 152 166 245 4,637 3,142 630 533 7,779 1.023 573 411 Net Book Value At 31" December 2024 At 31" December 2023 210 342 319 192 282 76 568 69,188 67,200 68,600 420 683 639 383 564 228 1 813 72,330 Property Is depreclated at YA per •nntsm stTalght Ilne Other assets are depreclated at 25% per annum stralght Ilne Page19