Unaudited Financial Statements for the Year Ended 31
March
2010
for
The Deveron, Bogie & Isla Rivers Charitable Trust
Contents of the Financial Statements for the Year Ended 31 March 2010
Page
Company Information 1
Report of the Directors 2
Profit and Loss Account 6
Balance Sheet 8
Notes to the Financial Statements 9
Company Information
for the Year Ended 31 March 2010
CHAIRMAN: R J G Shields BSc (Hons) FGS CEng FIQ
DIRECTORS: R J G Shields BSc (Hons) FGS CEng FIQ M C Hay BA (Hons) Cantab
J McNeil
R Poulson B.Ag.Com W M McDonald F R Henderson
SECRETARY: R J G Shields BSc (Hons) FGS CEng FIQ
REGISTERED OFFICE: The Offices Avochie Stables Avochie
Huntly
Aberdeenshire AB54 7YY
REGISTERED NUMBER: SC222802 (Scotland)
ACCOUNTANTS: David Brown & Co. 9 Duke Street Huntly
Aberdeenshire AB54 8DL
BANKERS: Royal Bank of Scotland The Square
Huntly
Aberdeenshire AB54 8AD
Report of the Trustees
for the Year Ended 31 March 2010
The Trustees, who are also Directors of the charity for the purposes of the Companies Act, present their report with the financial statements of the company for the year ended 31 March 2010
The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and reporting by Charities“ issued in October 2000 in preparing the annual report and financial statement of the Charity.
The Charity is a charitable company limited by guarantee and was set up on 1 August 2001. It is governed by a memorandum and articles of association. Its primary purpose is the conservation and improvement of the habitat surrounding the named rivers.
Review of Trust Activities 2009-2010
The year was notable for 2 very high spates in September and November, both of which exceeded 20’. The November spate was especially damaging to the river’s fish stocks, banks and habitats. The resulting gravel movement and bank damage resulted in a great deal of funds being spent on repairs both by riparian owners and farmers.
DBIT personnel and ghillies made valiant attempts to rescue stranded adult and juvenile fish from adjacent fields and surrounding land. It is impossible to quantify the number of lost fish and therefore the overall affect on subsequent age classes. However, we are constantly surprised how “mother nature” recovers so we can only hope that events were not as catastrophic as it appears.
The year was also noted for the very severe winter we experienced with snow lying from mid-December through until the end of April. The accumulation of several foot of snow and ice caused severe damage to the hatchery facility causing the structure to collapse. (As did many other structure in Banffshire). Approximately 80,000 salmon eggs were rescued by DBIT personnel and volunteers and were successfully planted out into the river as eyed ova and unfed fry.
The 2009 angling season was opened with a traditional ceremony at Turriff Angling Association with Mike Stephen of “Celebrations of Turriff” blessing the river and making the first cast in front of 80 anglers. The DBIT took the opportunity to also invite 30 children from Markethill Primary school in Turriff to the river for fly-fishing tuition during the event.
The early season fishing was affected by the inclement weather but “springers” were caught as early as February. The DBIT donated 30 sides of smoked salmon to anglers who safely returned salmon caught before the end of May. The numbers of all fish caught (including returned fish) are submitted to the RDevDSFB at the end of each season and are collated by the Clerk. The returns for the 2009 fishing season submitted showed an overall catch of 2843 Salmon and Grilse (4725 in 2008) and 759 Sea Trout (458 in 2008).
The “salmon goes to school” project continued with 7 primary schools participating. St.Thomas’primary school in Keith also trialled a new refrigerated aquarium for the first time which was extremely successful. 50% of this project is kindly funded by Scottish Natural Heritage.
The fish counter at Strathisla distillery survived the intense flooding and recorded 63 fish. We would suggest that this figure might have been higher if it were not for the spates which would have made upstream migration through the falls at the Linn Pot and the GlenKeith weir impossible for much of the winter spawning period.
Report of the Trustees (Continued) for the Year Ended 31 March 2010
Giant Hogweed and Japanese Knotweed control continued with the DBIT controlling the Isla system and Huntly Fishings controlling the Bogie catchment. The Trust was once again assisted by French fisheries student, Stan Freyheit during May. The 3 year funding for this project from Esmee Fairbairn Foundation is due to end in 2010.
The DBIT were delighted to announce the launch of the Deveron District Biosecurity and Fisheries Development Project. The DBIT successfully secured funding of £120,000 to allow the project to commence. The main objective of the project is to control and eradicate invasive non-native species (INNS) such as Giant Hogweed and American mink and also to promote Deveronside both locally and nationally as a top angling and visitor destination to help support local economic growth. The 3 year funding package from Aberdeenshire LEADER, SNH, The Scottish Government, Aberdeenshire Council and Moray Council allowed the Trust to employ a full-time Biosecurity and Fisheries Development Officer (Alastair Fenn), a first for Scotland and also to purchase the required equipment. One of the main responsibilities of the new officer is to co-opt volunteers to assist in the monitoring and eradication programme throughout the entire Deveron district. The Water of Philorth, Water of Troupe and the Burn of Boyne are within the coastal remit of the River Deveron District Salmon Fishery Board so these watercourses were also incorporated into the project. The new volunteers known as “river champions” are assisting by monitoring mink rafts and traps where there is evidence of mink and also helping monitor areas for invasive non-native plants. Invasive species are the second greatest threat to biodiversity and their ecological impacts and economic consequences can be devastating (e.g. Gyrodactylus salaris). This is reflected in the increasing priority given to invasive non-native species in the European and UK legal, strategy and planning frameworks. Examples of possible threats to the Deveron catchment include the parasite Gyrodactylus salaris, signal crayfish and zebra mussels, all of which could cause environmental and huge financial damage to the district’s fisheries and business communities. Our Biologist, Richie Miller, along with Chris Horrill (RAFTS) spent much of his time developing a new Biosecurity Plan which sets out the Trust’s vision to protect the district from existing and potential non native species. This plan is the template that will be followed by the new Biosecurity and Fisheries Development Officer, Alastair Fenn, and is available for viewing on the website www.deveron.org.
The redundant weir on the Cunning burn (enters the river at Carnousie) was removed successfully during the summer. We are confident that in time salmon will now utilise the upper reaches of this burn.
The 2009 electro fishing programme continued to survey sites adjacent to the proposed Clashindarroch Windfarm and also sites on the Glen burn close to the proposed Edintore Windfarm. The DBIT continued to survey ‘core’ sites around the district which are surveyed on an annual basis and also increased the number of timed juvenile surveys carried out.
The DBIT honorary membership secretary, Mr McConnell, has continued his sterling work raising funds and increasing Trust membership. His drive and enthusiasm has helped raise funds for practical restoration projects which can only benefit the river and its anglers for years to come.
Lastly, none of the Trustees received any remuneration or expenses for their time and efforts in furtherance of the aims of the DBIT. Robert Shields thanks them for their contribution and acknowledges the huge debt owed to them.
Report of the Trustees (Continued) for the Year Ended 31 March 2010
Risks
The trustees have assessed the major risks to which the charity is exposed, in particular those in relation to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate its exposure to the major risks
Directors & their interests
The company is limited by guarantee and as such does not have a share capital. The liability of the members is limited to £1 in the event of a winding up. The Directors who served during the year are as on page 1
Unrestricted Funds
The unrestricted funds arise from past operations. These include the fixed assets of the charity of £66,875 with the balance being free reserves. The trustees are satisfied that they have sufficient funding in place to continue the current activities of the charity.
Restricted Funds
There are no restricted funds arising from past operations and no transactions placing restrictions on the use of any income occurred during the year ended 31 March 2010.
Statement of Trustee’s Responsibilities
Company law 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 company and of the incoming resources and application of resources including the net income for that period.
In preparing those financial statements, the directors are required to:- - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
This report has been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies.
The Trustees, as far as they are aware, comply with OSCR’s guidance for Charity Trustees.
ON BEHALF OF THE BOARD:
... Trustee
Year Ended 31 March 2010
Independent Examiners’ report to the Trustees on the unaudited accounts of Deveron, Bogie & Isla Rivers Charitable Trust.
I report on the accounts of the Charity for the year ended 31 March 2010 set out on pages 6 to 9
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. The charity 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 independent examiner’s statement
My examination is 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 seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent 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 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.
David Brown
Member of the Institute of Chartered Accountants of Scotland David Brown & Co
Chartered Accountants 9 Duke Street
Huntly
Aberdeenshire AB54 8DL
Statement of Financial Activities (including Income & Expenditure Account) for the Year Ended 31 March 2010
Unrestricted Unrestricted 31.3.10 31.3.09 £ £ £ £ Incoming Resources Donations 6,943 8,352 Interest Received 68 Membership Fees 4,270 3,905 Merchandise 1,322 742
River Deveron District Salmon Fishery Board
Donation 20,000 15,525 Contracting Undertaken 475 360 Sponsorships 7,500 15,000 CAF Account 4,006 2,946 Funding Grants 28,983 31,539 Misc Income 4,342 26,592
Statutory Maternity Pay Credit 4,624
-Hogweed Control 200 580
82,665 105,608
Resources Expended
Labour Costs 38,237 36,443
Consultancy Fees 1,500 1,500
Travel Subsistence & Accommodation 5,974 7,941
Training 240 937
Protective Clothing 225 94
Projects 3,446 6,150
Sammy goes to School 1,360 1,539
Electro Fishing 4,000 4,825
Isla Hogweed Control 5,279 6,535
Hatchery Expenses 6,920 4,704
Acidity Monitoring 211 6
Fish Counters 2,627 2,018
River Works & Equipment 2 4,348
Irish Ford Modifications 3,860
Promotional Costs 2,000 2,038 Merchandise Purchased 499 765 Administration Fees 3,745 4,709 Professional Fees 1,919 505 Office Expenses 1,150 909 Website costs 410 184
Printing, Stationery & Subscriptions 104 141
Advertising 93 148
Printing & Design 79 739
General Insurance 1,409 1,407
Telephone 1,471 1,375
Sundries 1,289 2,873
Bank Charges 175 163
Spring Salmon Release Reward 50
Subscriptions Paid 2,208 1,981
Donations Made 2,000 2,000
Depreciation 6,999 7,418
95,620 108,258
Excess of Expenditure over Income 12,956 2,650
Balance at Beginning of Year 70,164 72,814
Balance Carried Forward 57,208 70,164
Statement of Financial Activities (including Income & Expenditure Account) for the Year Ended 31 March 2010
Restricted Funds Restricted Restricted
31.3.10 31.3.09
£ £ £ £
Incoming Resources
Inns Project 18,946
Funding for “The Clementina Morison
Perpetual Trophy” 3,777
Total restricted incoming resources 22,723 0
Resources Expended
Inns Project 18,946
Cost of “The Clementina Morison
Perpetual Trophy” 3,777
Total restricted resources expended 22,723 0
Balance Sheet 31 March 2010 31.3.10 31.3.09 Notes £ £ £ £ Fixed Assets Tangible assets 61,090 65,847 Current Assets Debtors 29,109 250 Cash at bank 12,819 29,109 13,069 Creditors
Amounts falling due within one year 32,991 8,751
Net Current Assets (3,882) 4,319
Total Assets less Current Liabilities 57,208 70,166
Represented by
Unrestricted Funds 57,208 70,166
57,208 70,166
The company is entitled to exemption from audit under Section 249A(1) of the Companies Act 1985 for the year ended 31 March 2010
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2010 in accordance with Section 249B(2) of the Companies Act 1985.
The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Section 221 of the Companies Act 1985 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 226 and which otherwise comply with the requirements of the Companies Act 1985 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2007).
The financial statements were approved by the Board of Directors on ... and were signed on its behalf by:
... Director
Notes to the Financial Statements for the Year Ended 31 March 2010
1 Accounting Policies a. Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2007) and the Statement of Recommended Practice (SORP) issued March 2005 and applicable accounting standards.
b. Incoming Resources
Donations and other incoming resources are included in full in the statement of financial activities when they are legally entitled to be received.
c. Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Hatchery Costs 10% reducing balance
Computer equipment 15% reducing balance
Office equipment 15% reducing balance
Motor Vehicles 25% reducing balance
d. Stock
Stock is included in the accounts at the lower of cost and net realisable value, after taking into account any obsolete stock. Stock represents merchandise for resale.
e. Resources expended
All expenditure is included on an accrual basis.
f. Funds
General funds are unrestricted and 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
g. Going concern
The directors consider that the company has adequate resources to enable it to continue to trade for the foreseeable future and are prepared to financial statements on the going concern basis. In forming their conclusion the directors have considered the period ending 12 months after the financial statements were signed.
Notes to the Financial Statements - continued for the Year Ended 31 March 2010
2 Tangible Fixed Assets
Plant and
Hatchery machinery Total
£ £ £ COST At 1 April 2009 110,788 4,669 115,457 Additions 2,243 2,243 At 31 March 2010 110,788 6,912 117,700 DEPRECIATION At 1 April 2009 46,505 3,105 49,610
Charge for year 6,428 571 6,999
At 31 March 2010 52,933 3,676 56,609
NET BOOK VALUE
At 31 March 2010 57,855 3,235 61,090 At 31 March 2009 64,283 1,564 65,847 2. Reserves £ Unrestricted Reserves At 1 April 2009 70,164
Deficit for the year (12,958)
At 31 March 2010 57,208
Restricted Reserves
The Balance on Restricted Funds at 31 March 2010 is £ Nil
42% 2% 6% 4% 1% 4% 6% 8% 3% 2% 4% 1% 2% 2% 1% 2% 2% 8% Labour Costs Consultancy Fees Travel Subsistence & Accommodation Projects Sammy goes to School Electro Fishing Isla Hogweed Control Hatchery Expenses Fish Counters Promotional Costs Administration Fees Professional Fees / Office Exspenses General Insurance Telephone Sundries Subscriptions Paid / Bank Charges Donations Made Depreciation 8% 1% 5% 2% 24% 35% 5% 6%
The Deveron, Bogie and Isla Rivers Charitable Trust Income April 2009 - March 2010 Donations Contracting Undertaken / Interest Received Membership Fees Merchandise River Deveron District Salmon Fishery Board Donation
Sponsorships CAF Account Funding Grants Misc Income
Statutory Maternity Pay Credit
