## **KINGLASSIE MINERS CHARITABLE SOCIETY**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
Charity no: SC004167
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025**
## **CONTENTS**
||**Page**|
|---|---|
|Charity Information|3|
|Chairperson’s Report|4-5|
|Independent Examiners’ Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes forming part of the financial statements|9-11|
2
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **STATUTORY INFORMATION FOR THE YEAR ENDED 31 JANUARY 2025**
The trustees submit their report together with the financial statements for the year ended 31 January 2025.
## **Reference and Administrative Information**
Charity name Kinglassie Miners Charitable Society Charity number SC004167 Registered Office and 79 Main Street Operational address Kinglassie Fife KY5 0XA Trusteess/Trustees Accountant Wallace White Accountants 2[nd] Floor 22-24 Blythswood Square Glasgow G2 4BG
3
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **CHAIRPERSON'S REPORT FOR THE YEAR ENDED 31 JANUARY 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 January 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Trustees**
The trustees of the charity who served in the period are listed below.
## **Principal Activities**
The charity’s principal activity continued to be the provision to Kinglassie Miners Welfare Society, under a formal deed of covenant, suitable premises for them to conduct their business.
## **Objectives and Activities**
The society continues to make its facilities available for all members to use in the Kinglassie community. The Bowling Division and the Pool Division continue to attract members. The Tea Dance is a well-attended event.
## **Future Plans**
The trustees will continue their range of present activities for the foreseeable future.
## **Structure, Governance and Management**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## **Recruitment end appointment of new trustees**
Trustees are elected or appointed at Annual General Meeting established by the constitution. There is no formal induction programme, but ongoing guidance is given to ensure that trustees are familiar with the charity's values, aims and responsibilities
.
## **Organisational Structure**
lt is the duly of the trustees to manage the ongoing affairs of the society with responsibility, specifically, to keep be fabric and property of the charity in good order and to look after the finances. Structure and Governance
In terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, the trustees report to the members as follows:
1. Kinglassie Miners Charitable Society is a registered Scottish charity (SC004167)
2. It is affiliated to the Coal Industry Social Welfare Organization
3. The superior authority is the Coal Industry Social Welfare Organisation. 4. All of its affairs are administered by the trustees
4
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **Financial review**
The Charity made a surplus of £13,435 for the year (surplus 2024 – £12,286). This gave rise to total reserves as at 31 January 2025 of £183,051 (2024 - £169,616) as shown on page 11 in the Statement of Financial Activities for the year ended 31 January 2025.
## **Reserves policy**
The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the “free reserves”) help by the charity should be between three to six months of the budgeted resources The reserves are needed to meet working capital requirements of the Charity, and the Board of trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.
This report was approved by the trustees on 31[st] March 2025 And signed on it’s behalf by:
5
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **Independent Examiner's report to the Trustees of Kinglassie Miners Charitable Society.**
I report on the accounts of the charity for the period ended 31 January 2025 which are set out on pages 6 to 17.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terns of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination is carried out in accordance with Regulation 11 of the 2006 Account Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements:
1. To keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations.
2. To prepare accounts which accord with the accounting records and comply with regulation 8 of the 2006 Accounts regulations
have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
6
## **KINGLASSIE MINERS CHARITABLE SOCIETY**
## **STATEMENT OF FINANCIAL ACTIVITIES For the Year Ended 31 JANUARY 2025**
|**Notes**
**_Income and endowments_**
**_from:_**
Grant and donations
Bowling division income
Tea dance income
Occupational license fee
**Total Income**
**_Expenditure on:_**
Charitable activities
2
**Total Expenditure**
**Net Income / (Expenditure)**
**Transfers between funds**
**Net movement in funds**
**_Reconciliation of funds:_**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**General**
**2025**
**2024**
**£**
**£**
**£**
**£**
4,500
-
4,500
1,255
-
12,127
12,127
10,346
-
-
-
-
18,369
-
18,369
18,313|
|---|---|
||**22,869**
**12,127**
**34,996**
**29.914**|
||6,244
15,318
21,562
17,628|
||**6,244**
**15,318**
**21,562**
**17,628**|
||**16,625**
**(3,191)**
**13,434**
**12,286**
**(3,191)**
**3,191**
**0**
**0**|
||**13,434**
**0**
**13,434**
**12,286**|
||165,589
4,026
169,616
157,330|
||**179,025**
**4,026**
**183,051**
**169,616**|
The statement of financial activities includes all gains and losses recognised in year. All incoming resources and resources expended derive from continuing activities.
The notes at pages 10 to 11 form part of these financial statements.
9
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **Charity Number: SC313776**
## **BALANCE SHEET As at 31 JANUARY 2025**
|**Notes**
**Fixed assets**
Tangible fixed assets
3
**Current assets**
Debtors
4
Cash at bank and in hand
**Current liabilities**
Creditors
5
Net current assets
**Net assets**
**The funds of the charity**
Unrestricted funds
Restricted funds general
6|2025
£
26,498
16,004|£
140,549
42,502|2024
£
28,420
3,066|£
140,707
28,909|
|---|---|---|---|---|
||42,502||31,486||
||-||(2,577)||
|||**183,051**||**169,616**|
|||179,025
4,026
**183,051**||165,590
4,026
**169,616**|
The notes on pages 10 and 11 form part of these financial statements.
8
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS**
**For the Year Ended 31 January 2025**
## **1. Accounting Policies**
The principal accounting policies adopted in the preparation of the financial statements are set out below. The accounting policies have been applied consistently throughout the year and the preceding year.
## **(a) Basis of accounting**
These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)
## **(b) Cashflow**
The Trust has taken advantage of the exemption from the requirement to produce a cashflow statement in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
- **(c) Fund Accounting**
- _Unrestricted funds_ are funds that can be used in accordance with the objectives of the charity at the discretion of the trustees.
- _Designated funds_ are unrestricted funds set aside by the trustees for specific future purposes or projects.
- _Restricted funds_ are funds that can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **(d) Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to categories of income:
- Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Income is deferred when performance related grants are received in advance of the performances or event to which they relate.
## **(e) Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. The charity is not registered for VAT and accordingly irrecoverable VAT is charged against the category of resources expended to which it relates.
- Costs of generating funds are those costs incurred in attracting voluntary income.
- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services to its beneficiaries. It includes both the direct costs and indirect costs necessary to support these activities.
- Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
- Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis e.g. estimated usage, staff costs by the time spent.
## **(f) Tangible fixed assets**
Fixed assets are stated at cost less accumulated depreciation. The cost of minor additions or those costing below £500 are not capitalised. Depreciation is provided at annual rates calculated to write off the cost of each asset over its expected useful life, as follows:
Fixtures & fittings 15% Reducing balance
9
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the Year Ended 31 JANUARY 2025**
**1. Expenditure from Charitable Activities**
||**Unrestricted **|**Restricted**|**2025**|**2024**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|Utilities|1,937|0|1,937|2,753|
|Staff travel|0|875|875|210|
|Repairs and renewals|0|2,541|2,541|2,805|
|Printing, postage & stationery|0|624|624|285|
|Office equip & furniture|1,370|0
|1,370|1,298|
|Subscriptions and memberships|0|714|714|470|
|Accountancy and audit fees|1,560|0|1,560|400|
|Raffle prizes|0|2,200
|2,200|1,110|
|Green master|0|6,924|6,924|5,078|
|Misc expenses|0|66|66|1,349|
|Bank charges|80|0|80|5|
|Catering expenses|1,139|1,374|1,374|1,689|
|Depreciation|158|0|158|186|
||**6,244**|**15,318**|**21,562**|**17,638**|
## **2. Fixed Assets**
|**Cost**
As at 31 January 2024
Additions
Disposals
Depreciation Adjustment
Property Revaluation
At 31 January 2025
**Depreciation**
At 31 January 2024
Disposals
Charge for the year
Property Revaluation
At 31 January 2024
**Net Book Value**
At 31 January 2025
At 31 January 2024|**Freehold**
**Property**
**Fixtures &**
**Fittings/**
**Improvement**
**Total**
**£**
**£**
**£**
94,218
60,288
154,506
0
0
0
0
0
0
0
0
0
0
0|
|---|---|
||**94,218**
**60,288**
**154,506**|
||0
13,799
13,799
0
0
0
0
158
158
0
0
0|
||**0**
**13,957**
**13,957**|
|||
||**94,218**
**46,331 140,549**|
|||
||94,218
46,489
140,707|
**3. Debtors amount falling due within one year**
10
**KINGLASSIE MINERS CHARITABLE SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the Year Ended 31 JANUARY 2025**
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|Other Debtors|26,498
|28,420|
||**26,498**
|**28,420**|
## **4. Creditors amount falling due within one year**
||**2025**||**2024**|
|---|---|---|---|
||**£**||**£**|
|Accruals||-|2,578|
|Other Creditors|
|-|
-|
|||**-**|**2,578**|
## **5. Movement in funds**
|**.Movement in funds**||
|---|---|
|Unrestricted Funds
Restricted Funds - General
Total Funds|**At**
**Incoming**
**Outgoing**
**Transfers**
**At**
**1 Feb**
**Resources**
**Resources**
**31 Jan**
**2024**
**2025**
**_£_**
**£**
**£**
**£**
**£**
165,590
22,869
6,244
-
179,025
4,026
12,127
15,318 -
4,026|
||**169,616**
**34,996**
**21,562**
**0**
**183,051**|
11