Accounts

Income for the year to 31 March 2019 totalled £20.154m. Positive results were achieved against an ever challenging financial backdrop, customer income increased by over 5% on the previous year. Income of £0.81m was secured from grants and fundraising, an increase of £0.243m on the previous year. The overall funding received from Falkirk Council of £10.9m was £0.187m lower than in 2018/19. Costs incurred of £20.360m have increased from the previous year mainly due to employee pay award costs and an increase in the energy costs. 2019 was the first year of the Trust’s new five-year Business Strategy 2019-2024, which was approved in November 2018. The Strategy accepts that we are transitioning towards playing a more facilitating role in the community, expecting that we will soon be operating with much less funding and from fewer venues. Covid-19 closures of Trust venues affected overall 2019-20 year-end performance. This shutdown of Trust operations had a significant impact on usage across the Trust. Most Trust venues closed from 18th March. With almost all of the Trust’s customer-facing and income-generating venues and services ceasing operation, the effect on usage and income for the 2019-20 year overall has been significant. It is expected that 2021 will be a year of renewal and rebuilding to meet our strategic objectives while remaining true to our values most notably valuing the difference people make and placing customer needs at the heart of everything we do. The full accounts can be viewed or downloaded from our website at www.falkirkcommunitytrust.org