Annual Accounts 2023/24
Argyll and Bute Council · 17 December 2024
Back to Oban Common Good Fund — 17 December 2024 and its agenda
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Oban Common Good Fund Financial Statements for the year ended 31 March 2024 Simmers & Co Chartered Accountants OBAN
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Oban Common Good Fund Contents Page Profit and loss account 1 Balance sheet 2 Notes to the accounts 3 - 4
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Oban Common Good Fund Trustees information Trustees Councillor Andrew Kain Councillor Kieran Green Councillor Jim Lynch Councillor Luna Martin Accountants Simmers & Co Chartered Accountants Albany Chambers Albany Street Oban Argyll PA34 4AL Business address Oban Common Good Fund c/o Argyll & Bute Council Kilmory Lochgilphead PA31 8RT
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Oban Common Good Fund Page 1 Profit and loss account for the year ended 31 March 2024 2024 2023 £ £ £ £ Income from investments 56,012 55,797 Other income - 250 _______ _______ 56,012 56,047 _______ _______ Legal and Professional Costs Grants paid 36,386 32,388 Accountancy 3,316 3,316 _______ 39,702 _______ 35,704 Depreciation 89,550 146,450 Other Expenditure Sundry expenses 1 1 _______ 1 _______ 1 _______ _______ (129,253) (182,155) _______ _______ Other income Gain (loss) on revaluation of investments 173,698 (75,470) _______ _______ 173,698 (75,470) Interest receivable Bank deposit interest 1,957 568 _______ _______ 1,957 568 _______ _______ Net Profit 102,414 (201,010) _______ _______
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Oban Common Good Fund Page 2 Balance sheet as at 31 March 2024 2024 2023 Notes £ £ £ £ Fixed assets Tangible assets 1 5,622,000 5,711,550 Investments 2 2,112,638 1,938,940 _______ _______ 7,734,638 7,650,490 Current assets Debtors 3 15,062 13,847 Cash at bank and in hand 155,402 132,804 _______ _______ 170,464 146,651 _______ _______ Current liabilities 4 Bank loans and overdrafts 2,324 - Accruals 18,262 15,039 _______ _______ 20,586 15,039 _______ _______ Net current assets 149,878 131,612 _______ _______ Total assets less current liabilities 7,884,516 7,782,102 _______ _______ Capital account Brought forward at 1 April 2023 7,782,102 7,983,112 Profit for the year 102,414 (201,010) _______ _______ 7,884,516 7,782,102 _______ _______ 7,884,516 7,782,102 _______ _______ I approve the financial information which comprises the profit and loss account, balance sheet and related notes. I acknowledge my responsibility for the financial information and for providing all information and explanations necessary for its completion. Date: 18th April 2024
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Oban Common Good Fund Notes to the Accounts for the year ended 31 March 2024 Page 3 1. Tangible assets Land and buildings freehold Total £ £ Cost At 1 April 2023 5,858,000 5,858,000 _______ _______ At 31 March 2024 5,858,000 5,858,000 _______ _______ Depreciation At 1 April 2023 146,450 146,450 Charge for the year 89,550 89,550 _______ _______ At 31 March 2024 236,000 236,000 _______ _______ Net book values At 31 March 2024 5,622,000 5,622,000 _______ _______ At 31 March 2023 5,711,550 5,711,550 _______ _______ 2. Investments Other Listed unlisted investments investments Total £ £ £ Cost At 1 April 2023 1,918,940 20,000 1,938,940 Revaluations 173,698 - 173,698 _______ _______ _______ At 31 March 2024 2,092,638 20,000 2,112,638 _______ _______ _______ Net book values At 31 March 2024 2,092,638 20,000 2,112,638 _______ _______ _______ At 31 March 2023 1,918,940 20,000 1,938,940 _______ _______ _______
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Oban Common Good Fund Notes to the Accounts for the year ended 31 March 2024 Page 4 3. Debtors 2024 2023 £ £ Other debtors 15,062 13,847 _______ _______ 4. Current liabilities 2024 2023 £ £ Bank loans and overdrafts 2,324 - Accruals and deferred income 18,262 15,039 _______ _______ 20,586 15,039 _______ _______