# **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 ChArityTrn*tc44Hd Mtmbers The aja11tyTn￿ and Mtmbers duringtheperi(A4 Ai f¢nwo1 M¢ainB (AGM). 911 rfth¢ clwity tnJ*48 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 bet*w three and six month¥ ex￿dI￿n Tr Ltiity tru*e&$ 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£
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)||