Ucvo - Charities report - 20.2
Ucvo - Charities report - 20.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 March 2020 |
| for |
| UCVO |
| UCVO |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2020 |
| Page |
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 14 |
| UCVO (REGISTERED NUMBER: SC508374) |
| Report of the Trustees |
| for the Year Ended 31 March 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 March 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 Charitable Purposes of UCVO are to benefit the community of the Uists being the Isle of Berneray, North Uist, the Isle of Benbecula, South Uist and Eriskay, by associating with and providing assistance to voluntary organisations, charities, local authorities and other bodies, in order to:- |
| - provide relief from financial hardship and social and / or economic disadvantage |
| - advance the education of residents of the Area of all ages; |
| - advance the citizenship among the residents of the Area; and |
| - prevent or relieve property. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| UCVO is a partner in TSIWI (Third Sector Interface Western Isles) - the partnership which delivers the TSI objectives of the Scottish Government within the Western Isles. UCVO continues to lead and develop the Third Sector in Uist with the Uist Third Sector Forum which allows for sharing of good practice and service delivery. |
| Trustees are in consideration of the future of the UCVO Building and the best solution to the issues with it - they will consider the option of transfer from the Trading Subsidiary to the Charity - as a way of reducing the balance owed to the Charity by UCVO Trading. |
| UCVO operates a thriving thrift shop from its base in Balivanich which helps raise much needed funds to assist in delivering our charitable objectives. UCVO is the sole shareholder of UCVO Trading which publishes Am Paipear, a local newspaper for the Uist island chain - spanning from Berneray to Eriskay. |
| UCVO delivered activities that helped increase the capacity of local organisations to function appropriately. This includes governance advice, information about current legislation and training that improved the ability of organisations to meet their objectives more effectively. |
| UCVO and Community Energy Scotland (CES) led on commissioning a feasibility study carried out by Fraser Architecture which was 80% funded by HIE to assess the suitability of premises occupied by Third Sector Organisations and SMEs in and around Balivanich and to appraise options for providing non-residential accommodation which meets the needs of the local community. |
| FINANCIAL REVIEW |
| Reserves policy |
| The reserves are kept under regular review by the Trustees. The Trustees consider that the level of reserves is sufficient for the likely future developments of the charity. |
| 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. |
| The charity is a company limited by guarantee and is controlled by its articles of association. |
| UCVO (REGISTERED NUMBER: SC508374) |
| Report of the Trustees |
| for the Year Ended 31 March 2020 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Recruitment and appointment of new trustees |
| From and after the first General Meeting of UCVO, the Board shall comprise: |
| - up to 6 individual persons elected as Trustees by the Voting Members (the Elected Trustees); |
| - up to one individual person appointed as a Trustee by each Nominating Body (the Appointed Trustees); |
| - up to 3 individual persons co-opted as Trustees (the Co-opted Trustees); and |
| - a majority of the Trustees must have their principal private residence in the Uists. |
| From the second and each subsequent AGM, one third of the Elected Trustees (or the nearest number upwards) shall retire from office. A retiring Trustee shall be eligible for re-election after one term of office, but no trustee can serve more than two consecutive terms of office, without at least one year out of office before being eligible again. |
| Up to one individual may be appointed as a Trustee by each of the Nominating Bodies. The Nominating Bodies are those Group Members of UCVO which the Board determines from time to time, subject to its criteria and if any and at its own discretion, to be Nominating Bodies. |
| The Board may from time to time fill any casual vacancy arising from the retiral or deemed retiral of any Elected Trustee, from or after the date of such retiral until the next AGM. |
| Related parties |
| As a number of Trustees are appointed by Nominating bodies, every Nominating Body of which a Trustee is a member is a related party. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Mann Judd Gordon Ltd |
| Chartered Accountants |
| 26 Lewis Street |
| Stornoway |
| Isle of Lewis |
| HS1 2JF |
| Approved by order of the board of trustees on |
| UCVO (REGISTERED NUMBER: SC508374) |
| Report of the Trustees |
| for the Year Ended 31 March 2020 |
| Independent Examiner's Report to the Trustees of |
| Ucvo |
| I report on the accounts for the year ended 31 March 2020 set out on pages five to fourteen. |
| 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. |
| John E Moffat BA FCA |
| Institute of Chartered Accountants in England & Wales |
| Mann Judd Gordon Ltd |
| Chartered Accountants |
| 26 Lewis Street |
| Stornoway |
| Isle of Lewis |
| HS1 2JF |
| 8 December 2020 |
| UCVO |
| Statement of Financial Activities |
| for the Year Ended 31 March 2020 |
| 31.3.20 | 31.3.19 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities | 2 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME |
| Transfers between funds | 12 | (1,240 | ) | 1,240 | - | - |
| Net movement in funds |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 91,263 |
| UCVO (REGISTERED NUMBER: SC508374) |
| Balance Sheet |
| 31 March 2020 |
| 31.3.20 | 31.3.19 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 | ( |
) | ( |
) | ( |
) |
| NET ASSETS |
| FUNDS | 12 |
| Unrestricted funds | 89,639 | 84,523 |
| Restricted funds | 6,740 |
| TOTAL FUNDS | 91,263 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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. |
| UCVO (REGISTERED NUMBER: SC508374) |
| Balance Sheet - continued |
| 31 March 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 |
| UCVO |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2020 |
| 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 2019)', 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, with the exception of investments which are included at market value. |
| 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. |
| Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
| UCVO |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 2. | OTHER TRADING ACTIVITIES |
| 31.3.20 | 31.3.19 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| £ | £ | £ | £ |
| Thrift Shop Sales | 26,561 | - | 26,561 | 25,265 |
| Grass cutting | - | - | - | 1,400 |
| 26,561 | - |
| 3. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Other operating leases | 2,310 | 2,520 |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2020 nor for the year ended 31 March 2019. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2020 nor for the year ended 31 March 2019. |
| 5. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 31.3.20 | 31.3.19 |
| Managerial and Administration |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| UCVO |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 62,692 | 9,048 |
| TOTAL FUNDS CARRIED FORWARD | 84,523 | 6,740 | 91,263 |
| 7. | FIXED ASSET INVESTMENTS |
| Listed |
| investments |
| £ |
| MARKET VALUE |
| At 1 April 2019 and 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 | 2 |
| At 31 March 2019 | 2 |
| There were no investment assets outside the UK. |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Registered office: |
| Nature of business: Publishing of newspapers |
| % |
| Class of share: | holding |
| UCVO Trading Limited was formerly a subsidiary of Uist Council of Voluntary Organisations prior to it being merged with and held as a subsidiary of Third Sector Hebrides. On de-merger of the Uist arm of Third Sector Hebrides into UCVO the ownership of UCVO Trading Limited was also transferred to UCVO. |
| UCVO |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Debtors | - | 231 |
| Amounts owed by group undertakings |
| Prepayments and accrued income |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Social security and other taxes |
| Pensions | 101 | - |
| Accrued expenses |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Other loans (see note 11) | 11,292 |
| 11. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Amounts falling between one and two years: |
| Other loans - 1-2 years |
| 12. | MOVEMENT IN FUNDS |
| Net | Transfers |
| movement | between | At |
| At 1.4.19 | in funds | funds | 31.3.20 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 84,523 | 6,356 | (1,240 | ) | 89,639 |
| Restricted funds |
| Restricted - TSIWI | 6,740 | (840 | ) | 840 | 6,740 |
| Balivanich Gymnastics | - | 477 | - | 477 |
| Building FS | - | (230 | ) | 400 | 170 |
| NU Ben LOIP | - | 1,750 | - | 1,750 |
| SU & E Playparks | - | 7,600 | - | 7,600 |
| Uist Comm Defib Fund | - | 1,050 | - | 1,050 |
| Will - Lottery | - | 1,841 | - | 1,841 |
| 11,648 |
| TOTAL FUNDS | 18,004 | 109,267 |
| UCVO |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 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 | 34,053 | (27,697 | ) | 6,356 |
| Restricted funds |
| Restricted - TSIWI | 59,136 | (59,976 | ) | (840 | ) |
| Balivanich Gymnastics | 20,663 | (20,186 | ) | 477 |
| Building FS | 23,170 | (23,400 | ) | (230 | ) |
| NU Ben LOIP | 1,750 | - | 1,750 |
| SU & E Playparks | 7,600 | - | 7,600 |
| Uist Comm Defib Fund | 1,050 | - | 1,050 |
| Will - Lottery | 11,959 | (10,118 | ) | 1,841 |
| ( |
) | 11,648 |
| TOTAL FUNDS | ( |
) | 18,004 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.4.18 | in funds | 31.3.19 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 62,692 | 21,831 | 84,523 |
| Restricted funds |
| Restricted - TSIWI | 9,048 | (2,308 | ) | 6,740 |
| TOTAL FUNDS | 71,740 | 19,523 | 91,263 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 42,105 | (20,274 | ) | 21,831 |
| Restricted funds |
| Restricted - TSIWI | 59,136 | (61,444 | ) | (2,308 | ) |
| TOTAL FUNDS | 101,241 | (81,718 | ) | 19,523 |
| UCVO |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 12. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net | Transfers |
| movement | between | At |
| At 1.4.18 | in funds | funds | 31.3.20 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 62,692 | 28,187 | (1,240 | ) | 89,639 |
| Restricted funds |
| Restricted - TSIWI | 9,048 | (3,148 | ) | 840 | 6,740 |
| Balivanich Gymnastics | - | 477 | - | 477 |
| Building FS | - | (230 | ) | 400 | 170 |
| NU Ben LOIP | - | 1,750 | - | 1,750 |
| SU & E Playparks | - | 7,600 | - | 7,600 |
| Uist Comm Defib Fund | - | 1,050 | - | 1,050 |
| Will - Lottery | - | 1,841 | - | 1,841 |
| 9,048 | 9,340 | 1,240 | 19,628 |
| TOTAL FUNDS | 71,740 | 37,527 | - | 109,267 |
| 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 | 76,158 | (47,971 | ) | 28,187 |
| Restricted funds |
| Restricted - TSIWI | 118,272 | (121,420 | ) | (3,148 | ) |
| Balivanich Gymnastics | 20,663 | (20,186 | ) | 477 |
| Building FS | 23,170 | (23,400 | ) | (230 | ) |
| NU Ben LOIP | 1,750 | - | 1,750 |
| SU & E Playparks | 7,600 | - | 7,600 |
| Uist Comm Defib Fund | 1,050 | - | 1,050 |
| Will - Lottery | 11,959 | (10,118 | ) | 1,841 |
| 184,464 | (175,124 | ) | 9,340 |
| TOTAL FUNDS | 260,622 | (223,095 | ) | 37,527 |
| UCVO |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 13. | RELATED PARTY DISCLOSURES |
| As detailed in the Trustees report a number of the Trustees are representatives of member organisations of UCVO from throughout Uist: |
| Ada Campbell - Urachadh Uibhist |
| Andrew Ross - Comann Eachdraidh Bhearnaraigh |
| Petter Keiller - Tagsa Uibhist |
| There are no related party transactions to report for the year ended 31 March 2020. |