Present: Davie Newton, Corinna Calder, Jo Firminger(zoom), Sam Gardener
Also Present: Grant Holroyd, Liz Tibbets, Reagan Nunn, Tom Daziel, Sam Eason, Andrew Kelly, Janey DeNorwall
Present by Zoom: Judy Bailey, Trisha Birch, Samantha Humphrey
Apologies: Lachie Robinson, Sara Donaldson, Richard Williamson, Andrew Baldrey
Announcement: Lachie Robinson has resigned as a director with immediate effect due to personal circumstances.
Approval of Accounts: Andrew Kelly from EQ Accountants presents accounts. Statement of financial activities presented for year end 31.12.2022.
There has been a drop in donations/ grants from previous year.
£30K increase in income from chargeable activity.
Venison sales consistent, land rover rental down, expenditure has increased by 100K- mostly project work coming to fruition.
Net deficit for £12K.
Balance Sheet
Tangible fixed assets have come down- sale of land at Westfield. Stock is stable.
Debtors- nothing unusual. Cash position improved £105K.
Net Current Assets- are in a healthy position. Restricted funds have come down £15K.
QN DN- Assumed asset value of land was a restricted fund.
AK- Understanding that funds raised including public funds for land was unrestricted. The only restriction is on what the charity can do to be within the aims of the charity. A designated fund is not a restricted fund. It is a designated that the land should be kept as long as possible, but it is not restricted.
DN- Do you believe that the board needs to designate funds so that they show up in the asset register or do we need to keep a note of designated funds and pass them on to the next board on a yearly basis?
AK- A record should be kept. Four funds. 1. Estate- lands left. 2. Bunkhouse 3. Ranger 4. Conservation fund
It is unlikely to change what KF does day to day. Advised considering if the bunkhouse needs to be a restricted fund any longer and if board should reconsider this.
DN- The bunkhouse fund should be kept for redevelopment and not general maintenance. What is the ranger fund and why is it designated?
AK- Loss this year may come out of this fund as historically it has been out aside from profits of ranger activity to cover short falls.
Discussion of management accounts for this financial year.
Grant- Asks AK if he has a clear idea of what departments are making and losing money.
AK- We only audit a closed period so up to 2022 end. Statement of funds given by project. Ranger service used entire profit and a bit more last year- breaking even rather than making a profit.
Note twenty-four. Related transactions of trustees and directors and that directors are not receiving benefit. There is a change to charitable legislation coming in next year and that this will be tightened up on. AK asks the board to be aware of this.
AK- Letter from auditor to the board was sent yesterday. AK presents it as a formality that auditors are away of minor issues.
- Some documentation uploaded to Xero does not support the transaction that it has been associated with.
- There are not signed contracts of employment for all staff. Also there have been pay rises that have not been put on personal files.
- VAT breach happened before 2021-year end. This was tiny and undetected. 2022-year reports were prepared in a way that made it unclear. Not entirely their fault. But apologies that it was not picked up. He encourages that all board are aware of management accounts. Feels like reports are prepared in a way that are not useful. The responsibility of tax and VAT rests with the directors but to let EQ to know if there is a way, they can better support the board.
DN- We are actively engaged but feel that at times getting full insight into accounts has been difficult. Partly because of issues in KF and partly due to communication KF and EQ. Feel that it is a function of accountants to inform us when we are going to breach VAT threshold. Although understand that responsibility in law rests with directors. Responsibility in fact should rest with accountants.
AK- We do not do tax work for KF as you do not pay corporation tax. We did miss the breach in VAT threshold and made a mistake, due to the diversity of your income. We were not aware of it due to management accounts day to day.
Directors approve accounts as presented by AK. Approved by all.
David Bailey joins via zoom.
Counting of Votes: Corinna Calder:33, Davie Newton:55, Danny Gorman:15, Jo Firminger:50, Sam Gardener:13, Tom Harris:50
Total 216 plus two spoiled ballots. 63 ballots were returned and two spoiled papers (5 votes)
Tom Harris arrives during the counting.
Corinna, Davie, Jo, and Tom were elected. One of the other two will be called upon but this will be decided at the next board meeting.
