Ecumenical Trust for Birse Kirk - Charities report - 21.1
Ecumenical Trust for Birse Kirk - Charities report - 21.1
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 August 2020 |
for |
Ecumenical Trust for Birse Kirk |
Ecumenical Trust for Birse Kirk |
Contents of the Financial Statements |
for the Year Ended 31 August 2020 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Statement of Financial Position | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 12 |
Ecumenical Trust for Birse Kirk (Registered number: SC236045) |
Report of the Trustees |
for the Year Ended 31 August 2020 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The principal activity of the company in the year under review was that of advancing both religion and education in the North East of Scotland by recognising the heritage of Christian worship for the benefit of the local community and wider public by providing at Birse Kirk an ecumenical place of worship for advancing Christian faith and for other community uses. |
ACHIEVEMENT AND PERFORMANCE |
During the year events held included a funeral. Covid 19 restricted use of the church. |
FINANCIAL REVIEW |
Reserves policy |
All of the assets of the trust are attributable to unrestricted funds. These assets are sufficient to meet the charity's obligations. |
The actual free reserves at 31 August 2020 amount to £53,535. The trustees consider this to be sufficient for the forthcoming year. |
Dividends and Appropriations |
In accordance with the Trust's Memorandum, no portion of its income or property may be paid or transferred by way of dividend, bonus or otherwise by way of profit to the members of the Trust other than the payment of reasonable and proper remuneration in return for services rendered to the Trust. |
The statement of financial activities for the year is set out on page 4 of the financial statements. A summary is set out below:- |
Gross income and expenditure amounted to £1,575 and £2,795 respectively. Interest of £101 was received on the bank account balances. As a result there was a net deficit of £1,119 for the year. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
As set out in the Articles of Association, a Chairman of the Board is appointed by the trustees who elect one of their own number. |
The trust shall not have less than three trustees at any one time nor more than nine. |
At each general meeting, one third of trustees will retire (where the number of trustees is not a multiple of three, the number nearest to but greater than one third shall retire from office). Should the resulting vacancies not be filled, the retiring trustees, if willing to act, are deemed to be re-appointed. |
The names of the present trustees are given on page 2. |
Organisational structure |
The day to day running of the charitable company is managed by Andrew Nicol. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Ecumenical Trust for Birse Kirk (Registered number: SC236045) |
Report of the Trustees |
for the Year Ended 31 August 2020 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Gillian R Nicolson |
Institute of Chartered Accountants in Scotland |
The Grant Considine Partnership |
Chartered Accountants |
46 High Street |
Banchory |
Aberdeenshire |
AB31 5SR |
Bankers |
Banchory |
Aberdeenshire |
AB31 5SR |
Solicitors |
Ledingham Chalmers |
Johnstone House |
52-54 Rose Street |
Aberdeen |
AB10 1HA |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Ecumenical Trust for Birse Kirk |
I report on the accounts for the year ended 31 August 2020 set out on pages four to twelve. |
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's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 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 the independent examiner's report |
My examination was 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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; and |
- | to prepare accounts which accord with the accounting records and to 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 accounts to be reached. |
Gillian R Nicolson |
Institute of Chartered Accountants in Scotland |
The Grant Considine Partnership |
Chartered Accountants |
46 High Street |
Banchory |
Aberdeenshire |
AB31 5SR |
27 May 2021 |
Ecumenical Trust for Birse Kirk |
Statement of Financial Activities |
for the Year Ended 31 August 2020 |
2020 | 2019 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 54,654 |
Ecumenical Trust for Birse Kirk (Registered number: SC236045) |
Statement of Financial Position |
31 August 2020 |
2020 | 2019 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 53,535 | 54,654 |
TOTAL FUNDS | 54,654 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Ecumenical Trust for Birse Kirk (Registered number: SC236045) |
Statement of Financial Position - continued |
31 August 2020 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Ecumenical Trust for Birse Kirk |
Notes to the Financial Statements |
for the Year Ended 31 August 2020 |
1. | STATUTORY INFORMATION |
Ecumenical Trust for Birse Kirk is a charitable company that is limited by guarantee, registered in Scotland. The company's registered number and registered office can be found in the Reference and Administration Details section of the Report of the Trustees. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to UK and Republic of Ireland (FRS 102) (effective 1 January 2015)'. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of paragraph 3.17(d); |
• | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c). |
Revenue recognition |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and any accumulated impairment losses. |
Depreciation on assets is provided at the following annual rate in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter. |
Equipment | - 20% on reducing balance |
Inventories |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Ecumenical Trust for Birse Kirk |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
2. | ACCOUNTING POLICIES - continued |
Fund accounting |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Charitable activities |
Fund raising income is included in the accounts in the year in which they are receivable, which is when the Trust becomes entitled to the source. |
Hire Purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account as incurred. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors. |
They are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Going Concern |
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. |
COVID -19 is having a low impact on the charity and the trustees are of the opinion that currently it will not affect their ability to continue for the year ahead. |
3. | DONATIONS AND LEGACIES |
Donations are credited to revenue on a receivable basis. All incoming resources are stated in the accounts at their gross values. |
4. | INVESTMENT INCOME |
Interest receivable is included when receivable by the charity. |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2020 | 2019 |
£ | £ |
Independent Examination Fee | 630 | 630 |
Depreciation - owned assets |
Ecumenical Trust for Birse Kirk |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019. |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 54,654 |
Ecumenical Trust for Birse Kirk |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
8. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 September 2019 and 31 August 2020 |
DEPRECIATION |
At 1 September 2019 |
Charge for year |
At 31 August 2020 |
NET BOOK VALUE |
At 31 August 2020 |
At 31 August 2019 |
9. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Prepayments and accrued income |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors & accruals |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.9.19 | in funds | 31.8.20 |
£ | £ | £ |
Unrestricted funds |
General fund | 54,654 | (1,119 | ) | 53,535 |
TOTAL FUNDS | (1,119 | ) | 53,535 |
Ecumenical Trust for Birse Kirk |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
12. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,676 | (2,795 | ) | (1,119 | ) |
TOTAL FUNDS | ( |
) | (1,119 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.9.18 | in funds | 31.8.19 |
£ | £ | £ |
Unrestricted funds |
General fund | 60,504 | (5,850 | ) | 54,654 |
TOTAL FUNDS | 60,504 | (5,850 | ) | 54,654 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,304 | (7,154 | ) | (5,850 | ) |
TOTAL FUNDS | 1,304 | (7,154 | ) | (5,850 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.9.18 | in funds | 31.8.20 |
£ | £ | £ |
Unrestricted funds |
General fund | 60,504 | (6,969 | ) | 53,535 |
TOTAL FUNDS | 60,504 | (6,969 | ) | 53,535 |
Ecumenical Trust for Birse Kirk |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
12. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,980 | (9,949 | ) | (6,969 | ) |
TOTAL FUNDS | 2,980 | (9,949 | ) | (6,969 | ) |
13. | RELATED PARTY DISCLOSURES |
Andrew Nicol (trustee) donated £1,500 during the year to 31 August 2020. |
14. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the Board of Trustees. |
15. | COMPANY STATUS |
The company is limited by guarantee and does not have share capital. The liability of each member in the event of winding up is limited to £1. |