Charlty Registratlon No. SC001775 (Scotlandl Company Registration No. SC16169218¢otlandl SOUND COMMUNITY ASSOCIATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 THE A9 PARTNERSHIP LIMITED Chartered Accountants 47 Commercial Road Lerwlck Shetland ZE1 ONJ
SOUND COMMUNITY ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION TrustOeS Mrs LA$ Ms RABremner Mr J M Sinc181r Mr K Manson Mr G S Leask MS K P Murray Mrs L Macmillan Mr R Bremner Mr M D G Ma¢Millan M$ FA Martin Mr$ l Moar Ms P E Nicolson Mr R Card (Appointed 28 November 20241 (Appointed 28 November 20241 Ms L Satrice Secretary Mrs l Moar Company number SC181692 Regl8t&rgd offlco Sound Publi¢ H#ll Sound Lemlck Shetland Isles ZE1 OSS Independent examlnor The A9 Partnershlp Limited 47 Commercial R08d Lorwick Shetland Isles ZE1 ONJ
SOUND COMMUNITY ASSOCIATION CONTENTS Page Trustees, report Independent 8xaminerf¥ report Slal8ment of financlal aotiviiies Balance 8heel Notes lo the ffinanclal stslemerbt$ 6-14
SOUND COMMUNITY ASSOCIATION TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The Iruslees present their annual report and finanoal statements for the year ended 31 Au9USt 2025. The financial slalements have been prepared In accordance with the accounting policies sel out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland and the Charllies SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts Iri accordance with the Flnancial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021" Objectlves and activities The charily's objectives Is managing the hall to eonform with the local statutory aulhorlties and voluntary organisations in the area. Every 8ffort is made to advanGe education and provide facilities In the Inte81$ of social welfare TeGrealion and other leisure time occupallons, wlth Ihe dear obje¢live of improving the quality of life for the peoplè Ilvlng In thè area. The directors of the charity repsent a wid9 section of hall users, wllh regular feedback from many organisalions and groups who use the hall and ils facilities. Achlevements and pgrfomiance The hall continues lo offèr a hlgh standard of ¥ervicg and ftcllllles to the community and the ¢harlty can look foard lo the future with confidence. Thanks mu81 be glven lo all the volunteers who give their Ilme and commltmenl lo runnlng and mainlalnlng the hall and provldlng a valuable Servicè lo the community. Flnan¢lal rovl The Asso¢latlon had a surplus of £307 {2024: deficit £110,83511. UnrestrtGlpd reserves tcjlalled £57,367 {2024.' t58,5241. The Trusle8s maintain reserves al a level which 18 adequate lo meet the cashflgw requirements of Ihg a880cialiors. Th& ovèrall reserves level of £433.86012024. £433,553) is conslder8d Ic) be an acceptable level, Risk factors The trustees has assessed thè malor rlsks lo which the Charlty 1$ exposed, In particular tho&& ralalèd lo the opèrations and finances of the company, and ar9 $atlsfig¢ that systems are In place lo mitigal? exposure lo the major risks.
SOUND COMMUNITY ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 structure> governance and management The Association is governed by ils M8morandum and Articles of Association and was incorporated on 17th November 1995. All directors of the cornpany are also trustees of the charity, and there are no other trustees. The policy and general management of the affairs of the Association is directed by a Board of Directors. All management deci8ion8 are made al regularly convened meetings. The Iruslees, who are ?Iso the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial $18lemenl8 w&re'. Mrs L Arcus Ms RA Bremner Ms L Nicolson Mr J M Sinclair M8 M Thomason Mrs S Ru4do¢k Mr K Manson Mr¥ L Campbell MrA Erskine Mr G S L?ask Ms K P Murray Mlss D Kane Miss C l Fordyce Mr D C Bradley Mrs L Mgcmillan Mr R Bremner Mr M D G Macmlllan Ms FA Martin Mrs l Moar ME P E Nlco180n Mr R Card M8 L Sglrlcg (Redgned 30 October 20241 {Re&gned 30 October 20241 IResigned 30 October 20241 (Reslgned 30 October 20241 (Resigned 30 October 20241 (Reslgned 30 October 20241 (Resigned 30 October 20241 IR85igned 30 Oclobgr 20241 {Appointed 28 November 20241 (Appolnted 28 November 20241 All full member8 and repr8$9nlalivgs of consliluenl bodles and 8eclions shall be eligible lo stand for appolntment to the board. One third of thg board members, slèp down and can seek r&8leclion al the next annual general meeting. New trustees are prc>vided within information necessary for the respDnslbllily of holdlng office from the existing or P8St board members and from Information available from OSCR. All of the Iruslees are members of the Gharity and guarantee lo contribute £1 Sn the evgnl of a winding up. The Irustses. report was approved by the Board of Trustoes. Mrs LArcus Director Dated.. ..l.E..l.11.125
SOUND COMMUNITY ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUND COMMUNITY ASSOCIATION I report on the financial ststements of the charity for the year ended 31 August 2025, which ara sèl out on pages 4 to 14. Responsibilitie5 and basis of report The charity trusl&es (who are also the dir8clors of Sound CommunSly Associallon for the purposes of company lawl are responsible for the proparalion of the financial statements in accordance with the terms Df the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts {Sctsllandl Regulations 2006.Th8 charity trustees consider that the audit requiremenl of RegulalioN 10{1lla}-Ic} of the Charities Accounts Iscollandl Règulallons 2006 does not apply. 11 is my responsibillly lo examlne the financlal Slalemenls 88 requir8d under section 4411}lel of the Charltles and Trustee Inveslm9nl IScolland} Act 2005 and to slate whether particular matters have come to my allenlic)n. Independent examlner's statemént In thg COL¢rse of My examination, no maller has come lo my att&nlion 1. whlch glves me reasonablo cause lo bellgve that in any m81efl81 rgspect the requlremenl$.' lo keep accounting rgcords in accordance wllh Secllon 44{1 Ila) of the Charities and Trustee Inveslmnl (Scollandl Ad 2005 and Regulation 4 of the Charities Accounts (Scollandl Regulations 2008, and lo prepare financial stslemenls which accord with the accountin9 records and comply with Regulallon 8 of the Charilles Accounts (Scotlandl Regulation8 2006 have not been mel, or 2. to which, In my opinlon, allenllon should bg drawn in order to enable a proper understanding of the flnanGlal slalem8nls to be reached. The A9 Partn8rshlp Limited 47 Commercial Road Lerwick Shelland18188 ZE1 ONJ Date..
SOUND COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrestrlct9d Restrlctod funds funds 2025 2025 Total Unrestrlcted Restrlcted funds funds 2024 2024 Total 2025 2024 Notes Incom• from: Donallons and legacies Charitable actlvities Investments 2,238 49.468 10,535 12,773 49.468 47 54,273 19 47 54,273 Totsl incomg 51,710 10,535 62,245 54.339 54.339 Expendlture on: Raising funds Charllable actlvitles 64 52,803 57 84.825 57 65,117 9,071 61,874 292 Total expèndlture 52,867 9,071 61,938 64,882 292 85,174 Ngt Incomellexpendlture) and movement In funds {1,1571 1,464 307 110,5431 12921 (10.8351 Rgconclllatlon of funds: Fund balances al 1 Seplomb8r 2024 58,524 375,029 433,553 e9,087 375,321 444,388 Fund balances at 31 August 2026 57,367 376,493 433,860 58,524 375,029 433,553 The statement of financ1al aclivllles Includes all galns and losse5 re¢ogrblsed in the year. All income and expenditure derivg ffom contlnuing aclivilies.
SOUND COMMUNITY ASSOCIATION BALANCE SHEET ASAT31 AUGUST2025 2025 2024 Notès Flxed assets Tangible assets 12 422,951 423.342 Current assets Stocks Debtors Cash at bank ar In hand 13 14 6.060 1.376 15,296 5,874 3,238 11,243 22,732 20,355 Creditors: amounts falllng duo wlthln ong year 15 (11.8231 110,144} Nel current agS91s 10.909 10,211 Totsl a¥s8ts loss current Ilabllltle8 433.860 433,553 Income funds Gengral reylricled funds Permanent grant fund 20,922 355,571 19,458 355,571 16 376,493 375,029 General unreslricled funds Unrgslricled fund8 S7,367 58,524 57,367 58,524 433,880 433.553 The company is gnlitled lo the exemption from th8 aud51 requirement conlalned In sectlon 477 of thè Companlès Act 2006, for the year ended 31 Augu812025. The directors acknowledge thelr rgsponslbilities for complylng with the requiremgnts of the Compan19s Act 2006 with respect lo accounting records and thp preparation of flnanclal slatemenls. The m8mb@rs have not required the ccsmpany lo obtsin an audit of its flnanclal st81emenls lor the year in question In accordance with sectlon 476. These financial statements have been prepared in accordance with the provisions applicable to compan18s subject lo the small companies regime. The financial stslements were approv8d by Ihg Trustees on ...78.l.:,.J%plS. Mrs LArcus Trustee Company Registratlon No. SC161692
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles Charlty informatlon Sound Community Association is a private company limited by guarantee incorporated in Scotland. Guarantees have been given by the Iruslees totalling £1 each. The reglslered office is Sound Publlc Hall, Sound. Lewwick, Shetland Isles, ZE1 OSS. 1.1 Aeeountlng convention Thè financial stalemenls have been prep?red in accordance wllh the ¢harlly's charity's Memorandum and Articles of Assoclallon, the Charities 8nd Trustee Investment Iscollandl Act 2005, the Charllies Accounls (Scotlandl Regulations 2008 las amended) and 'Accounlin9 and Reportlng by Chafilies.. Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in aecordance with the Financlal Rgporting Standard appllcable In the UK and Republlc of Ireland IFRS 1021 {effecllve 1 January 2019)" The ch8rlty 1$ a Public Benefit Enllly as defined by FRS 102. The charity has lak8n advantagè of the provSslons In the SORP for ¢harlli&s applying FRS 102 Update Bulletin 1 not lo prepare a Ststemenl of Cash Flows. The financlal stalem¢nt8 are prepared In st8Tling, which Is the fun¢llonal currenGy of the charity. Monetary amounts In these fin8nclal statements are rounded lo the near88t £. Th8 financial 8tatem8nls hav8 been prered under the hlstorical cost convenllon, Imodified lo Include the revaluation of fehOld properties and to Include investment propertie8 and certaln flnancl81 Instruments al f81r valuel. Thg princlpal accounting policies adopted are set out below. 1.2 Golng concern At thè Ilmg of approvlng the flnanci8181alements, the Iruslee5 have a rea8onablg expectation that tha charfjty has adequate resourc&s lo continue in operational exlslence for the forese8able future. Tho Iruslees continue lo adopt the going concgrn basis of accounting in preparing the financial stal8menls as new members are actively beirsg sought lo help share the work lo prevent the Hall from closure. 1.3 Charltable funds Unreslricled funds are availabl8 for use al the dlscrelion of the truslaes In fiJrtheranGe of thelr charitable obleclives. RE8lficted funds are Subject to 8peclflc condltlons by donors as to how they may be usgd. The purposes and uses of the reslrlcted funds are sel out in th8 notes to the financial 8talemenls. Perrnanent grant funds are grant fundlng that has been received in respect of speclfic capital expendllure. 1.4 Income Income is recognised when the charity is le9ally entitled lo it after any performance condition8 have boen met, the amounts can be measured reliably, and it is wobablo that Income will be received. Cash donations are recognised on receipt. Other donation8 are recognised once the charity has been notified of the donation, unless performance conditions require deferr81 of the amount. The income from fundraislng ventures is shown gross, with the associated costs included in fundraising costs.
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policies Icontlnuedl 1.5 Expendlture Expenditure is cognised On there Is a legal or conslruclive obligation lo transfer economic benefit to 8 third party, il is probable that a Iransler of economic bgnefils will be rèquired in settlement. and the amount of the obligation can be measured rellably. Expenditure is classified by activity. The costs of each activity are made up ol the total of dIr1 costs and shared costs. including support costs Involved In undertaklng each activity. Direol ¢osls attributable to a single acllvity are allocated directly lo that aclivily. Shared costs which contribut8 lo more than one activity and support CO8t8 which arè not attributable lo a slngle acllvlly are apportioned between those activitS on a basis consislenl with the use of resources. Cenlral staff costs 8r8 a11ocaled on the basis of lime Spent, and dépreciation charges are allocated on the portion of the as8et'8 U8e. 1.8 Tangible flxed assots Tangible fixed assets are Inlllally measured al cost and subsequently measured at cost or v81ualion, nel of depreclalion and any impairment108Sè8. Deprecl81ion is recognlsed so as lo wrilg off the co)sl or valuallon of a88èts le88 thelr resldual values over Ihelr useful Ilves on th8 following bases.. Freehold land and bulldlngs Plant and equipment not depreciated - See notes below 5 yèars slraighl Ilne Depreclalion has ceased on the publlc h811 as the propety Is eonsldered lo have a uselul11fe a$ a bulldlng of grgaler than 50 years and so any depreclalion Gharge is considered immalerlal. The Irusleès conslder that Ihls departure from Unlled Klngdom Generally Ace6pled Accounting Practice is necessory In order lo provlde true and fair vSew. The galn gr loss arlslng on the disposal of an asset Is determined as the difference been the sale proceeds and the Carrying value of the asset, and is recognised in the slalemenl of financial aclivilies. 1.7 Impalmiènt of flxed assets At each reporting end dale, the charity reviews the carrying amounts of ils langlble 888ets lo delermlne whether there is any indication that those assets have suffered an impairment loss. 11 any such indlcatlon exi518. the recoverablg amount of the asset 18 estimated in order lo determine the extent of the impairment loss (if any). 1.8 Sto¢k$ Stocks are slalgd al the lower of cost and eslimaled selling pric¢ le$$ costs to complete and s811. Cost comprises direct molerials and, where applicable, direct labouT costs and those oveiheads that have been incurred In bringing the stocks lo their present location and condition. Items held for dlstrlbullon al no or nominal consideration are measured the lower of replacement cost and Gosl. Net realisable value is the eslimaled selling price less all estimated costs of completion and costs lo bo incurred in marketing, selling and dislribuliorb. 1.9 Cash and cash equlvalents Cgsh and e8sh equivalents include cash in hand, depDsits held at call with banks, other short-lem) Ilquid investments with original malurilies of Ihreo months or less, and bank overdrafts. Bank overdrafts are shown within borrowings Sn current liabilities.
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policie8 (Continued} 1.10 Financial Instruments The charity has elected lo apply the provlsions of Section 11 'BasiG Flnancial Instruments, and Section 12 'Olher Financi81 Instrument5 Issues, of FRS 102 to all of ils financial inslrumenls. Financial inslwmenls are recognised in the charity's balance sheet when the charity becomes party to the conlraclual provisions of the Instrument. Financial assets and liabilities are offset, wllh the net amounts presented In the financial slalemenls, when Ihero is a legally enforceable rSght lo set off the recognised amounts and there is an inlentiDn lo sellle on 8 net basis or lo realise the asset and settl@ the112bility simullaneou81y. B881c flnanclal assets Basic financlal assets, which Snclude debtors and cash and bank balancey, are inilillly measured at transaction prlca including transaction costs and are Subsequently carried at 8mortlsed cost using thè effective Interest method unless the arrangement conslilules a fflnanclng transaction, where the transaction is measured al the present value of the future recelpls discounted at a market rale of interest. Flnanclal assets classified as receivable within one year are not amortised. 88slc flnanclal liabilltles 8a81c financial liabllilles. includlng credllors ènd bank loans ore Initially recognised at Iransaolion price unles8 th& arrangement conslilules a financing Iransaelion, where the debt Instrument is measured al the present value of th@ future payments dlscounled al a market rate of interest. Flnanclal liabllilie8 classified a$ payab19 wllhin one year are not amortlsed. Debt Instruments are subsequently carrled al 8mortl8ed cost, using th& effecllve Interest rate method. Trade creditor¥ are obllgallons lo pay for goods or 8ervlces that have been acquired In the ordinary ¢ourse of operations from Suppllers. Amounts payable are classrfied as current llabllilies if payment is due within one year or less. If not, they are preyented as non-currenl Ilabililies, Trade credllors arè recognised Inlllally al Iransactlon price and subsequently measured at 8mortised cost using the effective interest method. Derocognitlon of flnanclal liabllltlas Flnaneial Ilabililies are derecognised when the charity's conlraclual obllgatlon8 explrg or are dlscharged or canoelled. 1.11 Employee beneflts The cost of any unused hollday entillgmenl Is recognised in the perlod In whlch the employee's servlces are rec8ived. Terminolion benefits are recognised immediately as an expense when the eharliy Is demonstrably commilled 10 18rminate the employment of an employee or lo providg terminallon benefits. Critical accounting estimateg and Judgements In th8 application of the ¢harily's accounting policies, the trustees are required lo make judgements, eslimales and assumptions about the Garrying amount of assets and li8bilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experienc& and other factors that are considèred lo be relevant. Actual r85ulls may differ from these estimates. The 8slimalès and undertying assumption8 are reviewed on an ongoing basis. Revisions to acGDunting eslimales are re¢ogni8ed in the period in whlch the estimate 18 revised where the revision affects only that period, or in the period of the revision and future periods wheie the revision affeds both current and future periods.
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Income from donatlons and legacies Unrestrlcted Restricted funds funds 2025 2025 Total Unrestrlcted Restrlcted funds funds 2024 2024 Total 2026 2024 Donat1ons and glfts Grants 2.238 2,238 10,535 47 47 10,535 2,238 10,535 12,773 47 47 Income from charltable actlvltlos Unre$trlcted Unrestrlcted funds fundg 2026 2024 Bar laklngs Lets DanGe$, raffles and mlscellaneous 31,755 13,753 3,960 38,571 14,087 1,635 4g,468 54,273 Income from Invèstments Unrostrlctsd Unrestrlcted funds funds 2025 2024 Interest receivable 19 Ralslng funds Unrestrlctgd Unr8slrlcled funds funds 2025 2024 Fundralslng and publlGIty Dances, raffles etc 64 57 57
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Expendlture on charitable activltles 2025 2024 DSrect costs Staff costs Depreciation and impalrmenl Bar purchases, adlusted for stock mc)vemen18 Bank charges W8t&r rat8S E18clricity Insurance Repairs and renewals Telephone Slalion6ry, postage and advert8 Lieènces Donallons Entertaining Senior ciliz8ns Bad debts written off 7,234 391 12,798 742 1.697 16,665 2,771 13,262 1.07S 348 9,415 391 16.441 726 2,612 19,488 3,014 3,581 190 1,492 18 227 292 543 500 12 395 58,731 59,393 Share of support and governanct costs (see notg 81 Govern8nce 3.143 S.724 e1,874 65,117 Analysls by fund Unreslricl8d fund$ R&strieted funds S2.803 9,071 64,825 292 61,874 65,117 Support Costs allocated to actlvitle¥ 2025 2024 Govemance 3,143 5.724 10-
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Support costs allocated to actlvlties Icontlnuedl 2025 2024 GovernanGe ¢osts comprise: Independent examination fee Legal and professional Accountancy Honorarla 30Q 34 2,159 650 300 2,161 3,250 3,143 5,724 Honorariums are paid for holding the offlces of.. Secretary. Treasuier, Caretaker, Bar manager, As&sl8nt bar manager and Bookings c18rk. Thèse afe pald through the payroll 8y$lam annually. Ind8pend•nt èxamlnèr's rèmuneratlon Fees payable to the charity's indepondent examlner and assoclal8s'. 2025 2024 For independent axamlnatlon sèrvlc8S Independent examln81ion of th8 financi81 slalemenls of tho ¢horlty 300 300 For other 86rvleèg All othèr non-audll servlce8 2.182 2,150 10 Tru8teé8 Remuneration is paid to trustees as confirmed In the memorandu and Articles of Association. Trustees are not remuneral¢d for Ihelr work as trustees but for the work they perform in the course of their employment th Sound Community Association. The following Iruslees wore remungrated in the year.. LG Arcus- w8ge$ And honoraria of £84912024.. £1.0651 D Sinclair- wages and honoraria ol £012024.. £1,009) JM Slnclalr- wages and honoraria of £2,11012024.. £2,075} L Macmillan - wages and honoraria of £1,50612024'. £1.3561 SD Ruddock- honoraria of £65012Tr24 £7661 RA Bremner- wages of £78012Q24.. £853) GS Lea8k- wages of £45412024.. £6701 M Thomason - wages of £012024.. £261 K Murray- wages of £34712024.. £603) R 8remner- wages of £6112024.. £6361 M Macmillan - wages £811 (2024.. £0) L Selrice- wages of £22612024.. £01 R Card - wages of £134 {2024.. £01 The above parties are corbsidered lo tho Key Management Personnel of thè Charity- Expense5 are not paid to trust&e&
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 11 Employees The average monthly number of employees during the year was.. 2026 Number 2024 Number Employment ¢o$ts 2025 2024 Wages and salaries 7,234 9,415 There wère no employees whose annugl remuneration was MO than £60,000. 12 Tanglble flx•d assots FI01d land gnd bulldln09 Plant and equlpment Tot•1 Cost Al 1 September 2024 DIspo8als 612,497 38.714 18,9121 651,211 18,912) Al 31 August 202$ 612.497 29,802 e42,299 Depreclatlon and Impalrment At 1 September 2024 Depreclalion charged in the year Ellminaled in respect of dlsposals 190,328 37,541 391 18,9121 227,889 391 18,9121 Al 31 August 2025 190,328 29,020 219,348 Carrylng amount At 31 Augu512025 422,169 782 422,951 At 31 August 2024 422,169 1,173 423.342 13 Stoeks 2025 2024 Raw malerlals and nSumable$ 6,060 5,874 12-
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 14 Debtors 2025 2024 Amounts falllng due wlthln one year: Trade debtors Prepayments and accrued inGome 831 545 1,944 1,294 1.376 3,238 16 Credltors: amounts falling due wbthln one year 2025 2024 Other laxalion and social se¢urSly Trade creditors other creditors Accruals pnd deferred Income 782 7,086 802 3,153 1,51g 3,116 524 4,985 11,823 10,144 18 Rtstrlct•d funds Th¢ reslricled funds of the ¢harlty ¢ompri8e the unexpended balance8 of donallons and grants held on trust subject lo specific condlllons by donors as lo how they may be used. At1 Sèptember 2024 InGomlng rosource$ Resources At 31 Augugt expended 2026 19,458 355.571 10,535 19,0711 20,922 355.571 Revaluallon re$eN& Previous year.. At1 September 2023 Incomlng resourcès Resources At 31 August expended 2024 19,475 275 12921 19,183 275 Genera1 reslrlcled funds 19,750 355,571 {292) 19,458 355,571 RevalualioA reserve General Reslrlcted funds.. relate to fvnding from the Sound Hall Trust lo be used for the O.A.Ps in the Sound area. 11 also included funding Irom the National Lottery and Coaslol Communities for the purchase of a new fire door and cookers. Permanent Grant Fund-. r&latgS to funding from various funding bodies for the purchase of fixed assets. 13-
SOUND COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 17 Analysls of net a$set8 between funds Unrestrlcted funds 2025 Restricted funds 2025 Total 2025 At 31 August2025: Tangible assets Current asselsllliabililiesl 67,38D 110,0131 355.S71 20,922 422,951 10,909 57,367 378,493 433,860 Unr¢strlct&d funds 2024 Rgstrlctsd funds 2024 Total 2024 At 31 August 2Q24: Tangible assets Current 8sselsl{liabS11118s1 67,771 19,2471 355,571 19,458 423,342 10,211 58.524 375,029 433,S53 18 Rolated party transactlons There were no dis¢losable relalgd party tran8aclions during the year12024 . non8}. 14-