2024-10-31-accounts

HOLM COMUNITY ASSOCIATION SCIO ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024

HOLM COMMUNITY ASSOCIATIO:S SCIO

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 OCTOBER 2024

The Charity Trustees present their report and accounts for the year ended 31 October 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, applicable law and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objects of the Charity

The charity was established be a deed of trust on 7 May 1969. The Association received approval to change its legal form and become a Scottish Charitable Incorporation Organisation (SCIO) on 27 September 2012 and officially transferred its assets to become Holm Community Association SCIO with effect from 31 October 2012.

The Organisations purposes are:

• To promote the well-being of the Community and residents in the Parish of Holm and its environs without distinction of sex, sexuality, political, religious, or other opinions, by association with the local statutory authorities, voluntary organisations and residents in a common effort to promote educational, cultural, social and other leisure and recreational activities among its members, and to foster a community spirit for the achievement of these so that their conditions oflife may be improved.

• To assist in or to establish, maintain, manage and develop a Community Centre and associated sports and play facilities for activities promoted by the Association and its constituent members and any other premises associated therewith in every respect as may seem appropriate.

The Association is governed by a board of Charity Trustees and Members, which meet on a regular basis throughout the period.

Charity Trustees' responsibilities

Law applicable to charities in Scotland requires the trustees to prepare accounts for each financial year which give a true and fair view of the charity's activities during the period and of its financial position at the end of the period (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis).

In preparing accounts giving a true and fair view, the trustees should follow best practice and:

• select suitable accounting policies and then apply them consistently;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts;

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the accounts comply with the applicable law. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Review of activities

The Association has continued to organise the normal fundraising events in the period.

TRUSTEES, REPORT co￿lNu ChArityTrntc44Hd Mtmbers The aja11tyTn￿ and Mtmbers duringtheperi(A4 Ai f¢nwo1 M¢ainB (AGM). 911 rfth¢ clwity tnJ48 tTh¥¢r¢¢ir¢ fr{￿OffiC¢. Fmrt n¥y b¢ Ttrdwtd urKkrclause 57 of thec4mt1￿0n. All ncwnxTrbu5 reCci￿a fonnal inductiThL incI￿lingb¢jngprovidcd with ￿k¥allt dcalln￿ts such as the ciation'sconstitution 8ndthe n￿t Twent financial statements. An explanation isdso rffovidoj of the obli8ation80f dwity trusteu 8nd theo&4xiation's fututeplans8nd Obj￿1¥￿. Revltw of pwlll The Pr￿￿1￿1 sourtesof funding forgenernl ex[tt￿ fimdr8isin8events ondhireof thehail. AddItiot￿ 8r2nt fimditt8 issoureal maioritem4 of Qxpelldit￿t. Totsl itteomin8ffsourcu in the ￿m)d AttM)Utttalto £19,861. To181r￿lIrC¢$ ¢X￿ in th¢p￿d 8moLLttt¢dto£23,922. kNvttt8at£LmLLl8tol unY¢sti?otsl fiwds of £47.172 and TC5trictai fund5 of £356.430 atthc balllnccshczt d&t It isthe rA)licy of the charity that unrutricted fijnds which have FLaJ duignatedfora 5tttthc use should mointaind ata level eqUi￿]ent to betw three and six month¥ ex￿dI￿n Tr Ltiity true&$ 8nd mEmbers eonsiderthatYeseYv&4Rt thts level will ttwre th4 in the event of asi8DificAntthop in fjJndin8,they will be ableto continue th¢ th*ity￿ utrr•tOC¢iWiii<4whil¢ci)nsideJAtiOn is 8iVa) * W4y4 itt ￿l¢hodditiot￿l fvttds b¢ rais¢ Thi$ lthtj ofrrs(¥vrs hs bcah nxintsincd thrwghout thcFK¥io

HOI MMLThrrY Ass(￿￿0 TRU TE ' REPOR OR THE YEAR TOBFJi RI￿fAcIl Au¢t f•r fllnd• NDtts 12 and 13 sa #n In81￿$ oftheLssets attr1￿￿b]et0the v8fifAts fithds and 4dwr1pi(￿0f ¢h¢trus Th¢K astcts arc5u(ficicnt to Mcttthcth￿1t￿sQb]igation5 on afund bYfu￿1 b851& On bchilf rftlle dTaritt' trjsteu (m 3Cth July2025

HOLM COMMUNITY LSSOCIATION SCIO DEPENDENT EXAMDYFJi'S REH)RT TO THE TRUSTEFS OF HOLM ColqMLTh￿y ASSY)CIATIo￿ SCIO I roOrt￿ the ￿Unts of the ththrity f<rthe pxi(¥JthdeAJ 31 oc￿ber2024. The ch3Titys are res[AM￿1b]e forthepreparotion of the in xcord&nce with thetoThB of the Chwities find Thjsttt Investment (s￿da￿dI Act2(#)5 and theCh8rities Acttmjnts RWl8tions2(￿I6. The¢har5ty tn￿￿cOnsid¢r1h4l theAudit rniuim¢ni of Regulation I￿]Nd) of th¢ A¢¢iwr)ts Regulaions Jt apply. It 15 my rtsponsibility to ￿￿nin¢ thcawyjnts ￿ rryuired Un￿ Strti￿) 44(1)(c)of thcAct arKI to statc ¥A￿erp￿ti¢vts[ mattels havecwne tomygttentirm. of IDdet¢ndeDt Mycxarnination is outin aLxkn with Rcguiation I l of thcchllrititj Acifjunts (S&land) R¢gullltiLmS 2(KhS. An examinaticn indud&88 Tevivw of the accounts re￿￿k￿ by the thttity and acomwison of the accounts presenteAt with thoserttords. It also includes constderetionof 8ny WMLsual jtansordi￿oSUrtS7n the accounts, •llthe evidaKtthat would ber4llir&l in An audh4 8nd wwtlyI dD express ) audit c¢)inion on the view giv¢n bythellcciAuJt& IDdepepdent it*temont In the coura¢of my r￿n?￿til¥S no matt¢¥ha5 c￿￿¢t0 my 4ttcntion. l. Which gi￿ rne re4mble ouseto beliEw thatin 4nymatrJial resp￿t therequiremejtr - k) keep￿cOUnting I￿)rdS in8ceordwwith Sttti(m44(IXa)of the 2￿15 Act Re8ulatith) 4 of the2(K A4XCAmts Re8uIAtiOt)4 attd . toprep&re accounts whichaccord with theaccountingrewrth and conyly with Regulati￿9 of the 2(MlS Accounts Re8ulaticrtJs to whith. in my opinion, attethion sh￿]dbednlWTr inordertoenableH FffqJ¢runderthding oftheacwunts

HOLM COMMUITY ASSOCIATION SCIO

STATEMENT OF FIANCIAL ACTMTIES FOR YEAR ENDED 31 OCTOBER 2024

31.10.23 £ 825 10,546 11,371 1,368 10,003 27,754 27,754 408 29,530 (18,159) 425,822 407,663	Incomingresources fom generated funds Donations and legacies Activities fr generating fds Total incoming resources Resourcesexpended Costs generating funds Trading Costs Net incoming resources available Charitable activities Oter costs of charitable activities Total charitable expenditure Goverance costs Total resources expended Net (expenditure)/income fr the year/ Net movement in funds Fund balances at 1 November 2023 Fund balances at 31 October 2024 Notes 2 3 4 4 4	Unrestricted funds £ 3,665 16,196 19,861 2,878 16,983 9,607 9,607 336 12,821 7,040 40,132 47,172	Restricted fnds £ 11,101 11,101 11,101 (11,101) 367,531 356,430	Total 31.10.24 £ 3,665 16,196
				19,861 2,878 16,983
				20,708 20,708 336 23,922 (4,061) 407,663 403,602

HOLM COMMIJMTY A&soaAIION SCIO BALANCK SH￿￿ AS AT 31 0￿0B￿R 2024 23 Not Flxed A8•ets 375947 Tangible a￿ts 363 J78 Current 2,019 30247 2,749 38.112 Cash atbank attd iti balld 32266 40,861 1550) CT¢dito li (637) 31.716 40224 407.663 Total A81¢ts •Dd IA•biltia 403.602 Ineome FwDds 378,637 (li.)￿) 367.531 12 367,531 (J i.ioi) 356.430 47,185 ,053 40.132 40,132 7.040 SUrp1￿(DefiCit) 47.172 407.663 403.602 The accow)ts Thtre approY&l bythe clmrity Inistees on 30th Juty 2025

HOLM COMMUNITY ASSOCIATION SCIO

NOTES TO THE ACCOUNTS FOR YEAR E1 DED 31 OCTOBER 2024

1 Accounting Policies

1.1 Basis of Preparation

The accounts are prepared under the historical cost convention.

The accounts have been prepared in accordance with the Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in March 2005.

1.2 Incoming Resources

Income from fundraising events, hire of the hall, donations and grants are recognised as incoming resources when receivable. If donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods.

Interest is included when received by the charity.

The value of services provided by volunteers has not been included.

1.3 Resources expended

Expenditure is included in resources expended on an accruals basis, inclusive of any VAT which ca ot be recovered.

Costs of generating funds comprise the cost associated with attracting voluntary income and the costs of fundraising events.

Charitable expenditure comprises those costs incurred in the delivery of the charity's activities and services for its beneficiaries. It included both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance Costs include those costs associated with meeting the constitutional and statutory requirements of the charity.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource.

1.4 Tangible fixed assets and depreciation

Expenditure on assets held for ongoing use by the charity are capitalised. Tangible fixed assets other then freehold land are stated at cost less depreciation. The Holm Hall and Land were gifted to the Association in I 931. The original value of this gift and any improvements up to 2001 are not recorded in the balance sheet. The costs of the hall refurbishment completed in 2002 are capitalised.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold land is not depreciated Freehold buildings 2% straight line Other plant & machinery 20% reducing balance Other assets 5 % straight line

HOLM COMMUNITY ASSOCIATION SCIO

NOTES TO THE ACCOUNTS (CONTIUED) FOR YEAR ENDED 31 OCTOBER 2024

1 Accounting Policies

(Continued)

1.5 Accumulated funds

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. Unrestricted funds are available for use at the discretion of the trustees and management committee in furtherance of the general objectives of the charity.

2 Donations and legacies

Donations and gifs Grants receivable fr core activities Activities for generating funds Activities fr generating fnds Trading costs Net Activities fr generating funds	Unrestricted funds £ 390 3,275 3,665	Restricted funds £	Total 31.10.24 £ 390 3,275 3,665 31.10.24 £ 4,929 2,878 7,807 Total 31.10.23 £ 825 825 31.10.23 £ 11,297 1,368 12,665

3 Activities for generating funds

HOLM COMMUNITY ASSOCIATION SCIO

NOTES TO THE ACCOUNTS {CONTINUED} FOR YEAR ENDED 31 OCTOBER 2024

4 Total resources expended

Costs of generating funds Trading costs Charitable activities Activities undertaken directly Support costs Total Goverance costs	Staff Depreciation Other Total Costs Costs 31.10.24 £ £ £ £ 2,878 2,878 12,569 4,929 17,498 3,210 3,210 12,569 8,139 20,708 336 336 12,569 11,353 23,922	Total 31.10.23 £ 1,368 24,238 3,516
		27,754
		408 29,530

Governance costs include payments to the independent examiner of £336 (2023: £408) for services provided.

5 Support costs

Support costs
	31.10.24	31.10.23
	£	£
Overheads	3,210	3,516
	3,210	3,516

6 Charity Trustees

None of the charity trustees ( or any persons connected with them) received any remuneration during the year. None of the charity trustees or members received an honorarium (2023: Nil) and none were reimbursed (2023: Nil) for expenses incurred.

7 Employees

Number of Employees

The average number of employees during the year was:

	31.10.24	31.10.23
	Number	Number
Caretaker

There were no employees whose annual emoluments were £60,000 or more.

HOLM COMMUITY ASSOCIATION SCIO

NOTES TO THE ACCOUNTS (CONTIUED) FOR YEAR ENDED 31 OCTOBER 2024

8 Taxation

The charity is exempt from tax as all its income is charitable and applied for charitable purposes.

9 Tangible fixed assets

Cost At 1 November 2023 Additions At 31 October 2024 Depreciation At 1 November 2023 Charge fr year At 31 October 2024 Net Book Value At 31 October 2024 At 31 October 2023 Debtors Trade Debtors Land& Buildings £ 534,339 534,339 168,294 10,376 178,670 355,669 366,045	Other Assets £ 14,107 14,107 11,643 705 12,348 1,759 2,464	Plant& Machinery £ 21,885 21,885 14,447 1,488 15,935 5,950 7,438 31.10.24 £ 2,749 2,749	Total £ 570,331 570,331 194,384 12,569
			206,953 363,378 375,947 31.10.23 £ 2,019 2019

10 Debtors

11 Creditors: amounts falling due within one year

Accruals 31.10.24 £ 637 637	31.10.23 £ 550
	550

HOLM COMMUNITY ASSOCIATION SCIO

NOTES TO THE ACCOUNTS (CONTIUED) FOR YEAR ENDED 31 OCTOBER 2024

12 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

		Movement in funds	Movement in funds
	Balance at	Incoming	Resources	Balance at
	01.11.23	Resources	Expended	31.10.24
	£	£	£	£
Hall refrbishment 2002	250,435		(7,475)	242,960
Playing felds	113,737		(2,901)	110,836
Totem pole	2,464		(705)	1,759
Grass cutting equipment	100		(20)	80
Other small grants	795			795
	367,531		(11,101)	356,430

13 Analysis of net assets between funds

Fund balaces at 31 October 2024 are represented by: Tagible Fixed Assets Current Assets Creditors: amounts flling due within one year	Unrestricted Funds £ 6,652 41,157 (637) 47,172 Restricted Funds £ 356,725 (295) 356,430 Total £ 363,377 40,862 (637) 403,602

14 Contingent liabilities

The charity has granted to Orkney Islands Council (OIC) a standard security over land and buildings owned by the charity, in connection with grant funding provided by OIC.

HOLM COMMUNITY ASSOCIATION SCIO

Detailed Income and Ex(!enditure Account for ear ended 31 October 2024

ICOME Hall Hire Fundraising Tree Ligting Gala Hoedown CrafFayre Treasure Hunt 1 00yr Exhibition Insurance Claim Donation Grants EXENSES Trading Expenses Premises Costs Insurance Heat &Light Water Repairs & Maintenance Stationer& Postages Accounts Fee SundrExpenses Subscriptions Interet Hall Expenses Wages/Caretaker Depreciation - Other Equipment NET Income/(Expenditure) fr the year Net Reduction in Restricted Reserves		31.10.24 £ £ Ongoing Trading Restricted 8,914 159 1,824 1,232 120 1,070 2,877 390 3,275 19,861	31.10.24 £ £ Ongoing Trading Restricted 8,914 159 1,824 1,232 120 1,070 2,877 390 3,275 19,861	31.10.23 £ £ Ongoing Trading Restricted 7,003 178 1,919 1,446 825	31.10.23 £ £ Ongoing Trading Restricted 7,003 178 1,919 1,446 825
		19,861		11,371	11,106
		2,878 2,687 2,183 1,892 198 336 325 495 359 1,468 12,821	11,101 11,101	1,368 1,967 2,567 8,290 171 408 1,333 45 440 1,835 18,424
					11,106 (11,106)
		7,040	(11,101)	(7,053)