INVERCLYDE HERITAGE SCIO
REPORT AND FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
Charity Registration Numbèr: SC050770
Chartered Accountants
9 Royal Crescent
Glasgow G3 7SP

INVERCLYDE HERITAGE SCIO
FINANCIAL STATEMENTS
for the year ended 28 February 2024
CONTENTS
PAGE
Trustees, Report
Independent Examiner'5 Report to the Members
Statement of Financial Activities
Balance Sheet
Notes forming part of the Financial Statements

INVERCLYDE HERITAGE SCIO
TRUSTEES, REPORT
for thè year ended 28 Fèbruary 2024
The Trustees have pleasure in submitting their annual report for the year ended 28 February 2024.
The financial Statements comply with the Charities and Trustee Investment (Scotlandl Act 2005, the
Charities Accounts (Scotlandl Regulations 2006 las amended), the Trust Deed, and Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 leffective l January 20191.
OBJEcfivES AND ACTIVITIES
The organisation's charitable purposes are:
the advancement of the art5, heritage, tulture or science, together with
citizenship or community development,"
the prc)vision of recreational facilities. or the organisation of recreational
activitie5, Wlth the objert of improving the conditions of life for the persons
for whom the facilities or activities are primarily intended;
for the public benefit, with primary foc(Js on benefit to the community of Greenock and Inverclyde
and through the creation of an inclusive space used for community. heritage. culture. music and arts
activities within Greenock and Inverelyde.
ACHIEVEMENTSAND PERFORMANCE AND FINANCIAL REVIEW
The charity continued to be dormant during the year. The cost of living crises had a significant impact
on the entertainment sector and on the development of new initiatives linked to community /
heritage and entertainment. A decision was made to wait until the wider sector recovered and there
were opportunities to strengthen our board and establish stronger relationships with local partners.
Investment oli
Under the Constitution, the charity has the power to invest any money that the charity does not
immediately require. in any Investments, seturities or properties.
Reserves
When artivity commences the trustees have established a policy whereby funds held by the charity
should be not less than 3 months of the resources expended
Risk mana
ement
The Trustees have assessed the major risks to which the charity is exposed, in particular those
related to the operations and finances of the Trust, and are satisfied that systems are in place to
mitigate any exposure to major risks.

INVERCLYDE HERITAGE SCIO
TRUSTEES, REPORT
for thè year ended 28 Fèbruary 2024
PLANS FOR FUTURE PERIOD
Inverclyde Heritage SCIO plans to become active during 2025. Our first priority is to grow the Board,
by bringing in local people with an interest in heritage, community engagement and Governance. We
plan to submit some small funding applications (less than £10,￿0) to support us to engage with the
local community about ways that we can open up The Tobacco Warehouse to be used and enjoyed
by local people and start the process of securing larger capital funds to ensure that we maximise
potential for this heritage resource to be open and available to the local communitv.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Constitution
Inverclyde Heritage SCIO is a Scottish Charitable Incorporated Organisation governed by its
Constitution dated 12 February 2021 ènd is registered as a charity with the Office of the Scottish
Charity Regulator
General strutture
The structure of the organisation consists of the Charity Trustees who are also the organisation's only
members and comprise the ooanisation's Board.
Board of Trustees
Inverclyde Heritage is governed by 3 Board of Trustees. The 8oard of Tru5tee5 comprises a minimum
of three trustees, and no maximum, and must include a Chair person.
A person shall be eligible for appointment as a ChaTlty Trustee if they support the eharitable
purposes of the organisation and are proposed by two or more Charity Trustees.
At each AGM, all of the Charity Trustees must retire from office- but may then be re-elerted.
Indurtlon and Trulnlng of New Trustees
At present, there is no induction process undertaken, we are looking to widen membership to bring
in local stakeholders and people with specific experience in Governance. heritage, and funding to
strengthen the board and support existing trustees.

INVERCLYDE HERITAGE SCIO
TRUSTEES, REPORT
for thè year ended 28 Fèbruary 2024
REFERENCE AND ADMINISTRATIVE INFORMATION
Charrty name
INVERCLYDE HERITAGE SCIO
Charity number
SC 050770
Registered Offite and
Operational Addres5
7 Hood Street
Greenock
PA15 IYQ
Trustees
Independent Examiner
C W Chartered Accountants
9 Royal Crescent
Glasgow, G3 75P

INVERCLYDE HERITAGE SCIO
TRUSTEES, REPORT
for thè year ended 28 Fèbruary 2024
STATEMENT OF TRUSTEE RESPONSIBILITIES
The Trustees are responsible for preparing a Trustees Annual Report and Financial Statements in
accordance with the applicable law and United Kingdom Acc(>unting Standards Iunited Kingdom
Generally Accepted Accounting Prarticel.
The law applicable to tharities in Scotland requires the TrLJStees' to prepare financial statements for
each financial year which give a true and fair view of the State of affair5 of the Trust at the end of the
vear and of the profit or loss for the year then ended. In preparing those financial statements. the
Trustees are required to=
select suitable accounting policies and then apply them con5iStently;
observe the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent.,
State whether applicable accounting standards have been followed, subjert to any material
departures disclosed and explained in the financial statements,.
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the Trust will continue in busine55.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the Trust and to enable them to ensure that the
financial Statements comply with the Charitie5 and Trustee Investment (Scotlandl Act 2CQ5 and
Charities Accounts Iscotlandl Regulations 2006 las amended) and the provisions of the Trust's
constitution. They are also responsible for safeguarding the assets of the Trust and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the Trust and financial information
included on the Trusf s web51te. Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdittions.
The Trustees confirm that the accounts comply with the above requirements.
roved b the Trustee5 On
Jul 2025 and signed on their behalf..

INDEPENDENT EXAMINER'S REPORTTOTHETRUSTEES OFTHE
INVERCLYDE HERITAGE SCIO
I report on the financial statements for the year ended 28 February 2024, set out on pages 6 to 14.
Respective responsibilities of the Trustees and the Independent Examiner
The chariws Trustees are responsible for the preparation of the accounts in accordance with the
terms of the Charities and Trustee Investment (Scotlandl Art 2005 and the Charities Accounts
Iscotlandl Regulations 2006 las amended). The charity's Trustees consider that the audit
requirement of Regulation 10111 lal to Icl of the Accounts Regulations does not apply. It is my
responsibility to examine the accounts a5 required under section 4411) Icl of the Act and to state
whether particular matters have come to my attention.
Basis of independènt èxaminerfs report
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotlandl
Reeulations 2006 las amended). An examination includes a review of the accounting records kept by
the charity and a compari50n of the accounts presented with those record5. It 3150 include5
consideration of any unusual items or disclosures in the accounts, and seeking 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 èxaminerfs statement
In the course of my examination, no matter has come to my attention..
which gives me reasonable cause to believe that in any material respect the
requirements..
to keep accounting records in accordance with Section 44 llllal of the 2005 Act and
Regulation 4 of the 2006 Atcounts Regulations las amended),. and
to prepare account5 which accord with the accounting records and comply with
Regulation 8 of the 2006 Accounts Regulations las amendedl
have not been met,. or
21
to which, in my opinion. attention should be drawn in order to enable a proper
understanding of the account5 to be reached.
cw
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP
17 July 2025

INVERCLYDE HERITAGE SCIO
STATEMENT OF FINANCIAL ACTIVITIES
(including Income & Expenditure Accountl
for the year ended 28 February 2024
Unrestrirted RestrictedTotal Funds Total Funds
Funds
Funds
2024
2023
Notes
Income and endowments from:
Donotions
Donations
Chorittsble octivities
Grants
Total
Expendlture on..
Raising fLJnd5
Charitable activities
13001
13001
13001
Total
13001
13CM)I
13001
Net incomellexpenditurel
13001
13001
13001
Gross transfers between funds
li
Net movement in funds
13001
13001
13001
Reconclllatlon of funds:
Total funds at 28 February 2023
17801
17801
14801
Total funds at 28 February 2024
li
11,0801
11,0801
17801
All income and expenditure derive from continuing operations.
There are no gains or losses other than those shown above.
The notes on pages 8 to 13 form part of these financial statements

INVERCLYDE HERITAGE SCIO
BALANCE SHEET
As at 28 February 2024
2024
2023
Notes
Fixed assets
Tangible fixed assets
Current assets
Debtors
Cash at bank
Current liablllties
Creditors falling due within one year
io
11.0801
17801
Net current assets
11,0801
17801
Net assets
12
11,0801
17801
Funds
Unrestricted funds
Restricted funds
li
li
11.0801
17801
11,0801
17801
These accounts were approved by the Trustees on . July 2025 and are signed on their behalf by..
The note5 on pages 8 to 14 form part of these financial 5tatement5.

INVERCLYDE HERITAGE SCIO
NOTES TO THE FINANCIAL STATEMENTS
for thè year ended 28 Fèbruary 2024
ACCOUNTING POLICIES
The principal accounting policies are summarised below.
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
notels) to these accounts. The financial statements have been prepared in accordance
with the Statement of Recommended Prartice.. Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20191 and
the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland IFR51021, the Charities and Trustee Investment Iscotlandl Act 2005 and the
Charities Accounts (Scotlandl Regulations 2006 las amended).
The SCIO constitutes a public benefit entity as defined by FRSIO2.
The trustees consider there are no material uNcertaintie5 about the SCIO'S ability to
continue as a going concern. Accordingly the financial statements have been prepared
on a Éoing concern basis.
The SCIO has taken advantage of the exemption from the requirement to prepare a
Statement of Cash Flows as permitted under FRS 102 and the Charities FRS 102 SORP.
Ibl Funding Accountin8
Unrestricted funds are available for use at the discretion of the trustees furtherance
of the general objective5 of the charity.
Designated funds are unrestricted funds earmarked by the charity for particular
purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the
donor or through the terms of an appeal.
Income recognition
All income is included in the Statement of financial activities when the charity is
entitled to the income, it is probable that the income will be received and the amount
can be quantified with reasonable accuracy. The following specific policies are applied
to particular categories of income..
Grants receivable and donations are credited to the Statement of Financial
Activities in the year for which they are received.
Investment income is included when receivable.

INVERCLYDE HERITAGE SCIO
NOTES TO THE FINANCIAL STATEMENTS
for thè year ended 28 Fèbruary 2024
I. ACCOUNTING POLICIES Itont.)
Idl Expenses recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive
obligation committing the charity to that expenditure, it 15 probable that settlement
will be required and the amount of the obligation can be measured reliablv.
Expenditure is retognised on an ateruals basis. All expenses intluding support costs
and governance cost are allocated or apportioned to the applicable expenditure
headings. Expenditure includes any VAT which cannot be fully recovered, and is
reported as part of expenditLJre to which it relates=
Raising funds comprise the costs associated with attracting donations.
Charitable expenditure comprise those costs incurred by the charity in the
delivery of its activities and services for it5 beneficiaries. It includes both cost5
that can be allocated directly to such activities and those costs of an indirect
nature necessary to support them.
lel Flnanclal Instruments
Financial instruments comprise financial assets and financial liabilities which are
recognised when the charity become5 a party to the contractual provi5ion5 of the
instrument. They are classified as 'basic" in accordance with FRS102 and are
accounted for at the settlement amount due, which equates to the cost. Financial
assets comprise investments and cash. Financial liabilities comprise accruals.

INVERCLYDE HERITAGE SCIO
NOTES TO THE FINANCIAL STATEMENTS
for thè year ended 28 Fèbruary 2024
Intomè from Donations
Unrestricted Restricted
2024
2023
Donations
Income from donations was £nil12023.' £nill of which £nil 12023.. £nill was unrestricted and
£Nil12022.' £nill was restricted.
Income from Charltable Attlvltles
Unrestrirted Restrirted
2024
2023
Grants
Income from charitable activities w3s £nil 12023.. £nill of which £nil 12023.. £nill was
unrestricted and £Nil12023'. £nill was re5trirted.
4. Expenditure
2024
2023
Dlrect costs
Support costs
Governance costs-
Independent Examination fees
300
300
300
300
Expenditure was £30012023 £3001 of which £30012023.. £3(M)I was unrestricted and £nil
12023.. £nill wa5 restricted.
io

INVERCLYDE HERITAGE SCIO
NOTES TO THE FINANCIAL STATEMENTS
for thè year ended 28 Fèbruary 2024
stsff costs and numbers
2024
2023
Salaries and wages
Social Security costs
Pension costs
The number of persons employed by the company during the period was nil12023.. £nill.
Trustees. Rèmuneration
No members of the board of Trustees received any remuneration. nor were reimbursed any
expenses, during the current or previous period.
Movement in Total Funds for the period
2024
2023
This is stated after charging..
Independent Examination fees
300
300
li

INVERCLYDE HERITAGE SCIO
NOTES TO THE FINANCIAL STATEMENTS
for thè year ended 28 Fèbruary 2024
Debtors
2024
2023
Grant5 debtors
io.
Creditors Falling due Within One Year
2024
2023
Other creditor
Accruals
1,080
780
1.080
780
ii.
Movement In Funds
Ati
March
2023
At28
February
2024
Income Expenditure
Transfer5
UnrestrictedFunds
General
17801
13001
11,0801
Total unrestricted funds
17801
13001
11,0801
Restrirted Funds
Restricted Fund
Total Restricted Funds
Total
17801
13001
11,0801
12

INVERCLYDE HERITAGE SCIO
NOTES TO THE FINANCIAL STATEMENTS
for thè year ended 28 Fèbruary 2024
Movèment in Funds Itont.)
Atl
March
2022
At28
February
2023
Income Expendlture
Transfers
UnrestrictedFund5
General
14801
13001
17801
Total unrestricted funds
14801
13001
17801
Restrfrted Funds
Restricted Fund
Total Restricted Funds
Total
14801
13001
17801
Purpose of restrlctedAunds
As the charity is dormant at present there are no funds held.
12. Analysis of Net Assets Between Funds
Unrestrlcted Restrlcted
Funds
Fund5
2024
2024
Total
Fund5
2024
Tangible fixed assets
Current assets
Current liabilities
11,0801
11,0801
Net assets
11,0801
11,0801
13

INVERCLYDE HERITAGE SCIO
NOTES TO THE FINANCIAL STATEMENTS
for thè year ended 28 Fèbruary 2024
12. Analysis of Net Assèts Betweèn Funds Icont.)
Unrestrirted Restrirted
Funds
Funds
2023
2023
Total
Funds
2023
Tangible fixed assets
Current assets
Current liabilities
17801
17801
Net assets
17801
17801
13.
Related Parties transartion5
No one individual had control of the charity during the year. There are no related party
transactions during the current of previous period.
14