Charity number: SC031554
MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
CONTENTS
Page Reference and administrative details of the Charity, its Trustees and advisers 1 Trustees' report 2 - 6 Independent examiner's report 7 Statement of financial activities 8 Balance sheet 9 Notes to the financial statements 10 - 26 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2020
Trustees
Charity registered number
SC031554
Principal office
Arbroath Road Forfar Angus DD8 2RZ
Accountants
EQ Accountants LLP Chartered accountants Westby 64 West High Street Forfar Angus DD8 1BJ
Investment Managers
Adam and Company Investment Management Ltd 25 St Andrew Square Edinburgh EH2 1AF
Solicitors
Turcan Connell Princess Exchange 1 Earl Grey Street Edinburgh EH3 9EE
Page 1 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2020
The Trustees present their annual report together with the financial statements of the Murton Trust for Education and the Environment (The SCIO) for the year 1 July 2019 to 30 June 2020.
Objectives and activities a. Policies and objectives
The specific aims of Murton are:
• To provide educational opportunities that encourages learning and developing skills for life. • To maintain and establish a thriving nature reserve that encourages access to the outdoors. • To maintain and develop a strong connection with our community through leadership, our work and on our site. • To effectively run a visitor farm and tearoom on our site that offers a recreational and leisure facility and generates income to support our educational work.
Mission statement To provide a unique environment in which children, young people and adults can learn and develop skills for life.
The vision Murton wishes to enrich people’s lives by using our site to its full potential. We can offer our unique environment as an educational tool that has a positive impact on all ages. We aim to be a thriving and sustainable charity valued in the community and recognised nationally. b. Activities undertaken to achieve objectives
The SCIO meets its dual educational and environmental objectives by providing a vocational training centre for young people aged 14 to 19. While our courses are open to all, we especially provide for young people otherwise likely to leave school without qualifications. Murton provides a very different experience to traditional school providing placements for school pupils across Angus and allows pupils to earn SQA qualifications as well as self-esteem.
We also work with a small number of young people who have been excluded from school or have left without qualifications. These post school trainees study for National Certificates in land-based industries. They are with us for a year with the ultimate goal of going into employment, further training or education.
Management of the Reserve requires attention to wildlife, habitat changes, paths and the visitor experience and our trainees and students assist with all aspects. We maintain a work ethic of quality, pride and respect and the result can be seen in the high standard of craftsmanship on display around the reserve.
The SCIO employs five full time and twelve part time staff. We have a small but growing team of dedicated volunteers who assist with certain aspects of the grounds work on the reserve and caring for the animals on the farm.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020
Achievements and performance a. Main achievements of the Charity
Murton was heavily impacted by Covid-19 and the subsequent restrictions put in place. We were completely closed for the last three months of the financial year. All staff were retained and we thank them for their support during our closure. Murton actively sought and was successful in receiving funds from government support schemes and grant giving organisations, both to support our own organisation but also for the wider benefit of the Angus community.
The educational work of the Trust allows all participants and particularly young people to thrive and succeed in an enjoyable and beautiful outdoor environment. Regardless of the reason for visiting, we promote the benefits of being active, learning new practical skills and striving for personal development in all that we offer. The majority of our educational opportunities are for young people aged between 14 and 19. In addition, this year saw a significant increase in visitors to our outdoor spaces and those that attended our organised events and activities on site. We continue to increase opportunities for families to learn together. All organised opportunities on site focus on the importance of a basic education and the importance of life long learning.
We strive to connect families and individuals with nature and many found solace in the tranquility of our natural spaces. Our nature reserve was the perfect place to reaffirm a love for nature or to take first steps in understanding the natural beauty around us. When volunteers and school students visit our site, they help our skilled and qualified staff to maintain and enhance our nature reserve to the highest standard for all our visitors. The events and activities carried out on our site encourages an appreciation of the outdoors and ensures children, young people and adults will learn and develop skills for life.
Murton wishes to enrich people’s lives by using our site to its full potential. We can only do this by engaging with our community. We offer activities and events, all delivered in a safe environment dependent on the needs of our community. For the first time, 2020 saw us successfully apply for community support grants and lead and deliver these new projects across Angus. We were able to directly support small community groups and charities, increase community capacity and encourage a connected and supportive network of similar minded organisations.
As an established organisation, situated centrally in Angus we realise the importance of supporting community organisations and groups in our region. We strive to connect, inspire and be positive about the potential Angus has to be a great place to live, work and visit.
We manage our thriving nature reserve, visitor farm and tearoom set in 100 acres for the benefit of our community. All the work we do ensures that we enrich people’s lives by experiencing the outdoors. Over the last 5 years Murton has worked hard to ensure that we have invested in our facilities and provide what our community needs in a recreational and leisure facility. As a fair weather site we lost 3 months of our peak 2020 trading season. Despite these trading difficulties, we remain determined to succeed as a visitor attraction in Angus. We strive to use Murton’s land to its full potential, we can offer our unique environment as an educational tool that has a positive impact on all ages. We are ready for the new challenges of 2020 and on to 2021 and believe we can meet our goals and support our community.
For full details of the impact of our charity please see our Impact Report published each calendar year.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020
Achievements and performance (continued) b. Investment policy and performance
The investment portfolio is managed on a discretionary mandate basis with consideration to return against risk and the investing time horizon. The portfolio is invested and actively managed to achieve a balanced return from income and capital growth, invested across a range of asset classes, with the majority invested in the equity market. The portfolio is measured against a bespoke benchmark and is considered suitable for investors with a medium risk tolerance and an investment time horizon of at least 8 years.
The Trustees meet with the investment manager at least once per annum to ensure the ongoing suitability of the investment portfolio. The Trustees receive a quarterly investment report detailing the portfolio valuation and investment performance, portfolio holdings and asset allocation, transaction reports and costs and charges.
The portfolio has seen a divestment for the period under review, helping to fund major projects undertaken by Murton Trust for Education and the Environment, such as the tearoom extension. The investment portfolio was fully liquidated in late 2019 with the cash transfer meeting certain liabilities that Murton Trust endured as a result of poor weather conditions hitting revenue. The Board of Murton Trust would like to take this opportunity to thank Adam & Company Investment Limited for the professional investment service provided over the years.
Financial review a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy
Unrestricted funds at 30 June 2020 were £64,776 (2019: £133,472). These include a designated capital fund of £0 (2019: £36,263). The general fund at the period end amounted to £64,776 (2019: £97,209) .
Restricted funds at 30 June 2020 were £174,970 (2019: £122,814) and are detailed in note 17. They represent the investments in buildings, plant and machinery, the funding of wage costs, and specific grants for support of the education programme and the preservation of the habitat.
Please refer to note 22 for further details regarding the Trust's reserve policy.
The trustees believe that the general fund provides a sufficient fund to allow the SCIO to continue to meet any liabilities as they fall due within the next 12 months.
Structure, governance and management a. Constitution
Murton Trust For Education and the Environment (Scottish Charitable Incorporated Organisation) is a registered charity, number SC031554, and is constituted under a Trust deed.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020
Structure, governance and management (continued) b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. c. Organisational structure and decision-making policies
Murton is a Scottish Charitable Incorporated Organisation (SC031554) with a dual educational and environmental purpose. We are situated on a former quarry near Forfar in Angus and manage a thriving nature reserve, visitor farm and tearoom set in 100 acres.
Management and decision is the responsibility of the Board of Trustees, who meet four times a year. d. Financial risk management
The Trustees have assessed the key risks that the SCIO is exposed to and are satisfied that the appropriate controls and procedures are in place to mitigate and manage these risks. The SCIO detailed risk register is a live document and is reviewed by the Board of Trustees with any amendments to risks and controls, their impact and/or likelihood recorded. Risks are segregated into the following groupings: Health & Safety, Financial, Employees Volunteers Students and Trustees, General Trust Activities, Education, and Ecology. Examples of what the Trustees see as key risks include the impact from the pandemic, grant funding challenges, key person reliance and the threat of being unable to fully use the nature reserve for educational purposes due to land conditions e.g. flooding.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject 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 Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 9 March 2021 and signed on their behalf by:
(Chair of Trustees)
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INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2020
Independent examiner's report to the Trustees of Murton Trust For Education and the Environment (Scottish Charitable Incorporated Organisation) I report on the accounts of the charity for the year ended 30 June 2020 which are set out on pages 8 to 26. Respective responsibilities of Trustees and examiner The charity's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 ('the Act') and the Charities Accounts (Scotland) Regulation 2006 ('the Accounts Regulations'). The 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 financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention. Basis of independent examiner's statement My examination was carried out in accordance with regulation 11 of the Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 Act and regulation 4 of the Accounts Regulations; and to prepare financial statements which accord with the accounting records, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) and in other respects comply with regulation 8 of the Accounts Regulations have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable proper understanding of the financial statements to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with regulation 11 of the Charities Accounts (Scotland) Regulations 2006. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: 10 March 2021 BA CA CTA EQ Accountants LLP Chartered accountants Westby 64 West High Street Forfar Angus DD8 1BJ
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2020
Restricted Unrestricted Total Total funds funds funds funds 2020 2020 2020 2019 Note £ £ £ £ Income from: Donations and legacies 3 146,847 85,316 232,163 153,633 Other trading activities 5 - 116,281 116,281 187,960 Investments 6 - 484 484 2,152 Other income - 13,653 13,653 6,049
Total income 146,847 215,734 362,581 349,794 Expenditure on: Raising funds: 7,8 Voluntary income - 569 569 415 Trading - 146,413 146,413 145,493 Investment management - 151 151 771 Other raising funds - 1,256 1,256 513 Charitable activities 10 171,104 59,825 230,929 249,883
Total expenditure 171,104 208,214 379,318 397,075
Net gains/(losses) on investments - 197 197 (4,828)
Net (expenditure)/income (24,257) 7,717 (16,540) (52,109)
Transfers between funds 19 76,413 (76,413) - -
52,156 (68,696) (16,540) (52,109) Net movement in funds Reconciliation of funds: Total funds brought forward 122,814 133,472 256,286 308,395 Net movement in funds 52,156 (68,696) (16,540) (52,109)
174,970 64,776 239,746 256,286 Total funds carried forward
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 26 form part of these financial statements.
Page 8 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
BALANCE SHEET AS AT 30 JUNE 2020
2020 2019 Note £ £ Fixed assets Tangible assets 15 229,222 256,354 Investments 16 - 35,706
229,222 292,060 Current assets Stocks 3,082 3,726 Debtors 17 14,756 4,858 Cash at bank and in hand 19,486 1,409
37,324 9,993 Creditors: amounts falling due within one year 18 (26,800) (45,767)
Net current assets / liabilites 10,524 (35,774)
Total assets less current liabilities 239,746 256,286
Net assets excluding pension asset 239,746 256,286
Total net assets 239,746 256,286
Charity funds Restricted funds 19 174,970 122,814 Unrestricted funds 19 64,776 133,472
Total funds 239,746 256,286
The financial statements were approved and authorised for issue by the Trustees on 09 March 2021 and signed on their behalf by:
Grant Reid (Chair of Trustees)
The notes on pages 10 to 26 form part of these financial statements.
Page 9 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
1. General information
Murton Trust for Education and the environment is a SCIO registered in Scotland with the Charity Number SC031554.The principal office of the SCIO is Arbroath Road, Forfar, Angus DD8 2RZ.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
Murton Trust For Education and the Environment (Scottish Charitable Incorporated Organisation) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
2. Accounting policies (continued)
2.3 Expenditure (continued)
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
Short-term leasehold property - Over the life of the lease which expires on 31/03/2027 Plant and machinery - 25% straight line Office equipment - Over the life of the lease which expires on 31/03/2027
2.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
2. Accounting policies (continued)
2.8 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.12 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
2. Accounting policies (continued)
2.14 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
Restricted Unrestricted Total Total funds funds funds funds 2020 2020 2020 2019 £ £ £ £
Donations 14,999 16,120 31,119 33,794 Grants - see summary below 131,848 40,368 172,216 119,839 Government Furlough Grant - 28,828 28,828 -
146,847 85,316 232,163 153,633
Total 2019 137,970 15,663 153,633
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
4. Grant income
Restricted Unrestricted Total Total funds funds funds funds 2020 2020 2020 2019 £ £ £ £
Inspiring Scotland - - - 61,925 Angus Council 15,219 10,000 25,219 29,135 Leader 7,339 - 7,339 12,279 SVCO 18,433 - 18,433 - The Robertson Trust 16,500 - 16,500 16,500 Supporting Communities Fund Scottish Government - Other organisations 15,000 - 15,000 - The Gannochy Trust 16,859 - 16,859 - ICF - Investing in Communities Fund 23,298 - 23,298 - REACH - Bank of Scotland Foundation 19,200 - 19,200 - Corra Foundation - 12,368 12,368 - The MacRobert Trust - 8,000 8,000 - Supporting Communities Fund - Scottish Government - 10,000 10,000 -
131,848 40,368 172,216 119,839
Total 2019 119,839 - 119,839
5. Income from other trading activities
Income from fundraising events
Unrestricted Total Total funds funds funds 2020 2020 2019 £ £ £
Fam admissions 17,832 17,832 36,441 Chicken and feed sales 1,631 1,631 2,917 Fundraising events 3,300 3,300 3,475
22,763 22,763 42,833
Total 2019 42,833 42,833
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
5. Income from other trading activities (continued)
Income from non charitable trading activities
Unrestricted Total Total funds funds funds 2020 2020 2019 £ £ £
Tearoom - Cafe sales 90,303 90,303 141,319 Toy sales 3,215 3,215 3,808
93,518 93,518 145,127
Total 2019 145,127 145,127
6. Investment income
Unrestricted Total Total funds funds funds 2020 2020 2019 £ £ £
Income from listed investments 472 472 2,126 Bank interest received 12 12 26
484 484 2,152
Total 2019 2,152 2,152
7. Expenditure on raising funds
Costs of raising voluntary income
Unrestricted Total Total funds funds funds 2020 2020 2019 £ £ £
Costs of raising voluntary income 569 569 415
Total 2019 415 415
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
7. Expenditure on raising funds (continued)
Trading expenses
Unrestricted Total Total funds funds funds 2020 2020 2019 £ £ £
Trading expenses - wages and salaries 101,238 101,238 93,054 Trading expenses - NI 5,647 5,647 4,883 Trading expenses - pension costs 217 217 -
107,102 107,102 97,937
Total 2019 97,937 97,937
Other trading expenses
Unrestricted Total Total funds funds funds 2020 2020 2019 £ £ £
Trading CoS 30,819 30,819 39,312 Trading expenses - Other 2,986 2,986 3,249 Trading expenses - Service costs 6,762 6,762 5,508
40,567 40,567 48,069
Total 2019 48,069 48,069
8. Investment management costs
Unrestricted Total Total funds funds funds 2020 2020 2019 £ £ £
Investment management fees 151 151 771
Total 2019 771 771
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
9. Analysis of grants
Grants to Total Total Institutions funds funds 2020 2020 2019 £ £ £
Supporting Communities Fund 1,000 1,000 -
10. Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted Total Total funds funds funds funds 2020 2020 2020 2019 £ £ £ £
Wages and training fund 105,625 2,500 108,125 137,901 Equipment fund 4,125 - 4,125 16,846 Farm fund 4,152 7,090 11,242 16,400 Tesco grant fund - - - 360 Other funds 57,202 50,235 107,437 78,376
171,104 59,825 230,929 249,883
Total 2019 192,021 57,862 249,883
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
11. Analysis of expenditure by activities
Activities Grant undertaken funding of Support Total Total directly activities costs funds funds 2020 2020 2020 2020 2019 £ £ £ £ £
Wages and training fund 104,625 1,000 2,500 108,125 137,901 Equipment fund 4,125 - - 4,125 16,846 Farm fund 11,242 - - 11,242 16,400 Tesco grant fund - - - - 360 General fund 81,990 - 25,447 107,437 78,376
201,982 1,000 27,947 230,929 249,883
Total 2019 225,161 - 24,722 249,883
Analysis of direct costs
Total funds 2020 £
Staff costs 143,160 Animal costs 5,354 Repairs and maintenance 2,150 Cabin expenses 3,173 Training 1,161 Travelling 208 Workshop costs 100 Printing, postage and advertising 3,126 Machinery expenses 909 Tots group expenses 10 Depreciation 42,631
201,982
Analysis of support costs
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
11. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
Total funds 2020 £
Repairs and maintenance 500 Rates 211 Fuel and oil 1,615 Insurance 8,005 Professional fees 9,251 Bank interest and charges 8 Telephone 548 Sundry expenses 442 Printing, postage and advertising 1,780 Heat and light 1,307 Volunteer and training costs 1,780 Governance costs 2,500
27,947
12. Independent examiner's remuneration
2020 2019 £ £ Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts 2,500 2,900
13. Staff costs
2020 2019 £ £ Wages and salaries 234,035 233,269 Social security costs 12,598 11,738 Contribution to defined contribution pension schemes 3,629 3,616
250,262 248,623
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
13. Staff costs (continued)
The average number of persons employed by the Charity during the year was as follows:
2020 2019 No. No. 17 15
No employee received remuneration amounting to more than £60,000 in either year.
14. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 30 June 2020, no Trustee expenses have been incurred (2019 - £NIL).
15. Tangible fixed assets
Leasehold improve- Plant and Office Computer ments machinery equipment equipment Total £ £ £ £ £
Cost or valuation At 1 July 2019 178,488 36,161 208,355 832 423,836 Additions - 16,499 - - 16,499 Disposals - (1) - - (1)
At 30 June 2020 178,488 52,659 208,355 832 440,334
Depreciation At 1 July 2019 69,263 27,967 69,421 831 167,482 Charge for the year 15,374 8,209 20,047 - 43,630
At 30 June 2020 84,637 36,176 89,468 831 211,112
Net book value
At 30 June 2020 93,851 16,483 118,887 1 229,222
At 30 June 2019 109,225 8,194 138,934 1 256,354
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
16. Fixed asset investments
Listed investments £ At 1 July 2019 35,706 Additions 3,053 Disposals (38,956) Revaluations 197
At 30 June 2020 -
At 30 June 2019 35,706
17. Debtors
2020 2019 £ £ Due within one year Trade debtors 492 2,242 Other debtors 11,867 66 Prepayments and accrued income 2,397 2,550
14,756 4,858
18. Creditors: Amounts falling due within one year
2020 2019 £ £ Bank overdrafts - 22,132 Trade creditors 21,652 7,816 Other taxation and social security 2,173 12,728 Other creditors 975 1,091 Accruals and deferred income 2,000 2,000
26,800 45,767
Page 21 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
19. Statement of funds
Statement of funds - current year
Balance at Balance at 1 Transfers Gains/ 30 June July 2019 Income Expenditure in/out (Losses) 2020 £ £ £ £ £ £ Unrestricted funds
Designated funds L E Hill Memorial fund 36,263 472 (151) (36,781) 197 -
General funds General Funds 97,209 215,262 (208,063) (39,632) - 64,776
Total Unrestricted funds 133,472 215,734 (208,214) (76,413) 197 64,776
Restricted funds Wages and training fund - 33,651 (101,198) 67,547 - - Equipment fund 8,798 14,999 (4,125) - - 19,672 Farm fund 29,355 - (4,152) - - 25,203 Tearoom fund 49,423 - (8,464) - - 40,959 Leader fund 23,999 7,340 (3,428) - - 27,911 The Robertson trust fund 10,314 16,500 (19,082) - - 7,732 Murton footpaths 925 - - - - 925 Scottish Government - 15,000 (1,000) - - 14,000 The Gannochy Trust fund - 16,859 (25,725) 8,866 - - ICF Fund - 23,298 (2,330) - - 20,968 Reach Bank of Scotland fund - 19,200 (1,600) - - 17,600
122,814 146,847 (171,104) 76,413 - 174,970
Total of funds 256,286 362,581 (379,318) - 197 239,746
Page 22 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
19. Statement of funds (continued)
Statement of funds - prior year
Balance at Balance at Transfers Gains/ 30 June 1 July 2018 Income Expenditure in/out (Losses) 2019 £ £ £ £ £ £ Unrestricted funds
Designated funds L E Hill Memorial fund 111,900 2,126 (771) (72,164) (4,828) 36,263
General funds General Funds 95,002 209,698 (205,281) (2,210) - 97,209
Total Unrestricted funds 206,902 211,824 (206,052) (74,374) (4,828) 133,472
Restricted funds Wages and training fund - 58,339 (135,001) 76,662 - - Equipment fund 8,798 - - - - 8,798 Farm fund 33,507 - (4,152) - - 29,355 Tearoom fund 17,513 45,000 (13,090) - - 49,423 Leader fund 27,425 - (3,426) - - 23,999 The Robertson trust fund 11,962 16,500 (18,148) - - 10,314 Murton footpaths - 18,131 (17,206) - - 925 Tesco community fund 526 - - (526) - - Forestry commission 1,762 - - (1,762) - -
101,493 137,970 (191,023) 74,374 - 122,814
Total of funds 308,395 349,794 (397,075) - (4,828) 256,286
20. Summary of funds
Page 23 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
20. Summary of funds (continued)
Summary of funds - current year
Balance at Balance at 1 Transfers Gains/ 30 June July 2019 Income Expenditure in/out (Losses) 2020 £ £ £ £ £ £ Designated funds 36,263 472 (151) (36,781) 197 - General funds 97,209 215,262 (208,063) (39,632) - 64,776 Restricted funds 122,814 146,847 (171,104) 76,413 - 174,970
256,286 362,581 (379,318) - 197 239,746
Summary of funds - prior year
Balance at Balance at Transfers Gains/ 30 June 1 July 2018 Income Expenditure in/out (Losses) 2019 £ £ £ £ £ £ Designated funds 111,900 2,126 (771) (72,164) (4,828) 36,263 General funds 95,002 209,698 (205,281) (2,210) - 97,209 Restricted funds 101,493 137,970 (191,023) 74,374 - 122,814
308,395 349,794 (397,075) - (4,828) 256,286
21. Analysis of net assets between funds
Analysis of net assets between funds - current period
Restricted Unrestricted Total funds funds funds 2020 2020 2020 £ £ £
Tangible fixed assets 146,614 82,608 229,222 Current assets 28,356 8,968 37,324 Creditors due within one year - (26,800) (26,800)
Total 174,970 64,776 239,746
Page 24 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
21. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
Restricted Unrestricted Total funds funds funds 2019 2019 2019 £ £ £
Tangible fixed assets 150,282 106,072 256,354 Fixed asset investments - 35,706 35,706 Current assets - 9,993 9,993 Creditors due within one year (27,468) (18,299) (45,767)
122,814 133,472 256,286 Total
Page 25 MURTON TRUST FOR EDUCATION AND THE ENVIRONMENT (SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
22. Funds
Unrestricted Funds General Funds The general fund is used for the income and expenditure of the SCIO, except for income with conditions attached and its related expenditure.
Designated Funds The LE Hill Memorial Fund is an unconditional endowment which was received from the LE Hill Memorial Trust, a charity registered as ceased from June 2012. Though the trustees reserve the right to apply both capital and income to the Trust's purposes, the Fund is currently managed as a strategic capital reserve. This fund was depleted during the year.
Restricted Funds During the period, grants and donations amounting to £33,651 were received to fund the wages and training costs of staff and volunteers. There was no balance remaining at the year end.
The £19,672 balance in the equipment fund at the period end represents plant and machinery.
The £25,203 balance in the farm fund represents money invested in the community farm. The tenants improvements and equipment will be written down by depreciation charges in the coming years.
The tea-room fund represents the capital invested in the building of a tea-room on the reserve. A balance of £40,959 remains in the tea-room fund. The tenants improvements and equipment will be written down by depreciation in the coming years.
The Leader Rural Skills fund is represented by a grant received to provide funding towards a new Rural Skills Cabin.
The Robertson Trust fund is represented by a grant received to provide funding towards an employee for our educational projects.
The Murton footpaths fund is represented by a grant received to upgrade the existing paths and roads for the nature reserve.
Supporting Communities Fund - Scottish Government £15k given to other organisations to help combat the effects of Covid-19 in the community.
Supporting Communities Fund - Scottish Government £10k for Murton to coordinate Covid-19 relief actions in the community.
The ICF- Investing in Communities Fund is to help deliver an educational programme to young people in Angus and Dundee.
REACH Royal Bank of Scotland is a fund to provide core costs for our educational work in the community.
23. Pension commitments
The SCIO operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the SCIO in an independently administered fund. The pension cost charge represents contributions payable by the SCIO to the fund and amounted to £3,629 (2019 - £3,616) Contributions totaling (2019 - £732) were payable to the fund at the balance sheet date and are included in creditors
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