Annual Report 2010 to 2011 - Fife Coast & Countryside Trust

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Pensions In preparing the financial statements for the current year, the Trust has adopted the full reporting requirements of FRS17: Retirement Benefits. For defined benefit pension schemes the amounts charged in resources expended are current service costs and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service costs are recognised immediately in the profit and loss account if the benefits have vested. If the benefits have not vested immediately, the costs are recognised over the period until vesting occurs. The interest cost and the expected return on assets are shown as a net amount of other finance costs or credits adjacent to interest. Actuarial gains and losses are recognised in the ‘Other recognised gains and losses’. Defined benefit pension schemes are funded, with assets of the scheme held separately from those of the Trust, in separate trustee-administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high-quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obtained every three years and updated at each balance sheet date. The resulting defined benefit asset or liability is presented separately after other net assets on the face of the balance sheet. Fund accounting Funds held by the Trust v are either: • unrestricted general funds, which can be used in accordance with the charitable objectives at the discretion of the trustees, or • restricted funds, which are funds that can only be used for a particular restricted purpose within the objectives of the Trust. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 2. Incoming resources from charitable activities Restricted Unrestricted Funds Funds Total Total 2011 2011 2011 2010 £ £ £ £ Grants received: Fife Council Funding: SLA 1,329,959 - 1,329,959 1,434,400 Fife Council Funding: Other Projects 228,368 - 228,368 364,656 Biffa - - - 7,997 ERDF/EU Funding 46,230 - 46,230 16,286 Scottish Natural Heritage 17,600 - 17,600 18,438 Scottish Water 7,325 - 7,325 7,200 Fife Environment Trust 48,643 - 48,643 40,826 Forestry Commission Scotland 6,400 - 6,400 3,315 Falkland Heritage Trust - - - 350 Sustrans 35,000 - 35,000 - National Lottery Fund 25,000 - 25,000 - NHS Fife - - - 5,000 BSkyB - - - 7,592 Scottish Executive 24,313 - 24,313 10,505 Big Green Footprint 5,201 1,542 6,743 - Scottish Enterprise - - - 242,500 Other sources - - - 292 1,774,039 1,542 1,775,581 2,159,357 26 Fife Coast and Countryside Trust Audited Accounts 2010-2011
3. Directors and Staff Costs 2011 2010 £ £ Staff costs 910,671 1,149,739 Employer’s pension (10,000) 84,000 900,671 1,233,739 Average monthly employed including executive Directors: Number Number Chief Executive 1 1 Project and operations staff 29 32 Support staff 8 8 v 38 41 No employees earned in excess of £60,000 in the year. At 31 March 2011 there was a total of 39 staff under the control of the Chief Executive: 4 team leaders, 3 project officers, 13 rangers, 8 maintenance staff, 3 Natural Heritage staff and 8 support staff. Board of Directors No member of the Board received any remuneration or reimbursement of expenses in the year. 4. Movement in Total Funds for the Year 2011 2010 This is stated after charging: £ £ Auditors’ remuneration – audit 3,485 2,415 Auditors’ remuneration – non audit work 2,485 3,010 Depreciation 19,463 16,589 Fife Coast and Countryside Trust Audited Accounts 2010-2011 27
Page 1 and 2: FIFE COAST AND COUNTRYSIDE TRUST An
Page 3 and 4: Contents Page Trust Information 4 D
Page 5 and 6: Chairman’s Message Once again, I
Page 7 and 8: REVIEW OF ACTIVITIES Conservation h
Page 9 and 10: Best practice recommendations will
Page 11 and 12: ACCESS PROJECTS Coastal Path Works
Page 13 and 14: Path Improvements at Kinkell Braes
Page 15 and 16: FCCT attended the Big Tent event ag
Page 17 and 18: The second way to help is for busin
Page 19 and 20: Members of the Board of Directors M
Page 21 and 22: Scope of the Audit of the Financial
Page 23 and 24: STATEMENT OF FINANCIAL ACTIVITIES (
Page 25: NOTES ON FINANCIAL STATEMENTS for t
Page 29 and 30: 5. Total Resources Expended (contin
Page 31 and 32: 11. Pension Costs The Trust operate
Page 33 and 34: 12. Funds Restricted Unrestricted F
Page 35 and 36: Notes Paper kindly donated by Tulli

Annual Report 2010 to 2011 - Fife Coast & Countryside Trust

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