Dufftown and District Games Limited - Charities report - 19.1

REGISTERED COMPANY NUMBER: SC175928 (Scotland)

REGISTERED CHARITY NUMBER: SC047843

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

DUFFTOWN AND DISTRICT GAMES LIMITED

DUFFTOWN AND DISTRICT GAMES LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 December 2018

Page

Report of the Trustees

1 to 2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5 to 6

Notes to the Financial Statements

7 to 11

DUFFTOWN AND DISTRICT GAMES LIMITED

REPORT OF THE TRUSTEES

for the year ended 31 December 2018

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 December 2018. 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 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity as set out in their governing document are as follows:

1. To advance culture and heritage of Scotland by staging, operating, managing and promoting the annual

Dufftown Highland Games, in association with the local statutory authorities, inhabitants and voluntary

organisations of Dufftown and its environs.

2. The advancement of public participation in sport.

3. The provision of recreational facilities, or the organisation of recreational activities, with the object of

improving the conditions of life for the persons for whom the facilities or activities are primarily intended.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

- Almost 5000 people attended this year's event Dufftown Highland Games, despite heavy rain early on in the

day.

- We were delighted to have 13 pipe bands, which included 281 pipers and drummers, joining us on the day.

- A group of Canadian highland dancers were among the 94 dancers that attended.

- We continue to attract a high number of overseas visitors, who are very enthusiastic and complimentary on

the diversity of our games.

- Considerable 'one off' expenditures were undertaken to upgrade older assets.

FINANCIAL REVIEW

Financial position

The total income in the year was £37,237 (2017: £42,406) and main sources of income are fundraising and

gate and programme receipts. The expenditure amounted to £35,518 (2017: 35,935).

As at 31 December 2018 the charity has total reserves of £33,211 (2017: £31,492), all reserves were of an

unrestricted nature.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems

are in place to mitigate exposure to the major risks.

Reserves policy

The charity's policy is to retain sufficient funds to facilitate for:

- 2 years of bad weather where the risk of cancellation or poor attendances adversely affect income,

- the planned replacement of older assets, and acquiring additional equipment when appropriate.

The Trustees therefore consider that the charity should ideally hold cash reserves of £30,000.

FUTURE PLANS

- Continue to upgrade older assets and extend storage shed for equipment.

- To provide an area designated for disabled parking within Westburn Park.

- Engage in ongoing succession planning.

- To promote the Hill race in 2019 after a successful 2018 which attracted a record number 176 athletes.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a Memorandum of Association and is governed under its

Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies

Act 2006.

Dufftown and District Games Limited currently has 3 trustees and 22 additional committee members.

Membership is very stable and only changes when a member retires or a convenor seeks extra labour to

assist with a particular task. Members are proposed by the said convenor and voted in/out by the membership

at the AGM. All members are recruited from the local community.

The trustees are responsible for the maintenance and integrity of the corporate and financial information

included on the charitable company's website. Legislation in the United Kingdom governing the preparation

and dissemination of financial statements may differ from legislation in other jurisdictions.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC175928 (Scotland)

Registered Charity number

SC047843

Registered office

Ashville

Church Street

Dufftown

AB55 4AR

Trustees

Mr A M Brown

Mrs L E Brown

Mr N A Grant

Company Secretary

Mr A M Brown

Independent examiner

Fiona Macritchie FCCA, CTA

MacKenzie Kerr Limited

Chartered Accountants

Redwood

19 Culduthel Road

Inverness

IV2 4AA

Approved by order of the board of trustees on 16 May 2019 and signed on its behalf by:

Mrs L E Brown - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

DUFFTOWN AND DISTRICT GAMES LIMITED

I report on the accounts for the year ended 31 December 2018 set out on pages four to eleven.

Respective responsibilities of trustees and examiner

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 (as amended). 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 (as amended). 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 the course of 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.

Fiona Macritchie FCCA, CTA

MacKenzie Kerr Limited

Chartered Accountants

Redwood

19 Culduthel Road

Inverness

IV2 4AA

16 May 2019

DUFFTOWN AND DISTRICT GAMES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

for the year ended 31 December 2018

2018

2017

Unrestricted fund

Total funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

6,650

5,453

Charitable activities

General activities

30,558

36,948

Investment income

2

29

5

Total

37,237

42,406

EXPENDITURE ON

Charitable activities

General activities

35,518

35,935

Other

-

1,324

Total

35,518

37,259

NET INCOME

1,719

5,147

RECONCILIATION OF FUNDS

Total funds brought forward

31,492

26,345

TOTAL FUNDS CARRIED FORWARD

33,211

31,492

DUFFTOWN AND DISTRICT GAMES LIMITED (REGISTERED NUMBER: SC175928)

BALANCE SHEET

At 31 December 2018

2018

2017

Unrestricted fund

Total funds

Notes

£

£

FIXED ASSETS

Tangible assets

6

3,167

1,964

CURRENT ASSETS

Debtors

7

1,024

169

Cash at bank

31,570

33,565

32,594

33,734

CREDITORS

Amounts falling due within one year

8

(2,550

)

(4,206

)

NET CURRENT ASSETS

30,044

29,528

TOTAL ASSETS LESS CURRENT LIABILITIES

33,211

31,492

NET ASSETS

33,211

31,492

FUNDS

10

Unrestricted funds

33,211

31,492

TOTAL FUNDS

33,211

31,492

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended

31 December 2018 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.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the

Companies Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 16 May 2019 and were signed on its behalf by:

Mr N A Grant -Trustee

DUFFTOWN AND DISTRICT GAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2018

1.	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 in the 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 financial statements are prepared in sterling, which is the functional currency of the entity.

Income

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

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

useful life.

Fixtures and fittings

- 25% on cost

Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

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.

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in

other administrative expenses.

2.	INVESTMENT INCOME

2018

2017

£

£

Interest receivable

29

5

3.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2018

2017

£

£

Depreciation - owned assets

1,750

1,253

4.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2018 nor for

the year ended 31 December 2017.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2018 nor for the year ended

31 December 2017.

5.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

5,453

Charitable activities

General activities

36,948

Investment income

5

Total

42,406

EXPENDITURE ON

Charitable activities

General activities

35,935

Other

1,324

Total

37,259

NET INCOME

5,147

RECONCILIATION OF FUNDS

Total funds brought forward

26,345

TOTAL FUNDS CARRIED FORWARD

31,492

6.	TANGIBLE FIXED ASSETS

Fixtures and fittings

£

COST

At 1 January 2018

6,258

Additions

2,953

At 31 December 2018

9,211

DEPRECIATION

At 1 January 2018

4,294

Charge for year

1,750

At 31 December 2018

6,044

NET BOOK VALUE

At 31 December 2018

3,167

At 31 December 2017

1,964

7.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Prepayments

1,024

169

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts (see note 9)

250

35

Tax

-

1,871

Accrued expenses

2,300

2,300

2,550

4,206

9.

LOANS

An analysis of the maturity of loans is given below:

2018

2017

£

£

Amounts falling due within one year on demand:

Bank overdraft

250

35

10.	MOVEMENT IN FUNDS

At 1/1/18

Net movement in funds

At 31/12/18

£

£

£

Unrestricted funds

General fund

31,492

1,719

33,211

TOTAL FUNDS

31,492

1,719

33,211

Net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

37,237

(35,518

)

1,719

TOTAL FUNDS

37,237

(35,518

)

1,719

Comparatives for movement in funds

At 1/1/17

Net movement in funds

At 31/12/17

£

£

£

Unrestricted Funds

General fund

26,345

5,147

31,492

TOTAL FUNDS

26,345

5,147

31,492

Comparative net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

42,406

(37,259

)

5,147

TOTAL FUNDS

42,406

(37,259

)

5,147

A current year 12 months and prior year 12 months combined position is as follows:

At 1/1/17

Net movement in funds

At 31/12/18

£

£

£

Unrestricted funds

General fund

26,345

6,866

33,211

TOTAL FUNDS

26,345

6,866

33,211

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

79,643

(72,777

)

6,866

TOTAL FUNDS

79,643

(72,777

)

6,866

11.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2018.