**CHARITY REGISTRATION NUMBER: SC007769** # **THE PORTESSIE PLAYGROUP UNAUDITED FINANCIAL STATEMENTS** ## **31 JULY 2025** **RITSONS** Chartered accountants 26-30 Marine Place Buckie Moray AB56 1UT ## **THE PORTESSIE PLAYGROUP** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2025** ||**PAGE**| |---|---| |Trustees' annual report|**1**| |Independent examiner's report to the trustees|**3**| |Statement of financial activities|**4**| |Statement of financial position|**5**| |Notes to the financial statements|**6**| |**The following pages do not form part of the financial**|**statements**| |Detailed statement of financial activities|**12**| |Notes to the detailed statement of financial activities|**13**| ## **THE PORTESSIE PLAYGROUP** ## **TRUSTEES' ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2025** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2025. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered charity name** The Portessie Playgroup **Charity registration number** SC007769 **Principal office** Portessie Primary School School Road Portessie AB56 1TN ## **THE TRUSTEES** ## **INDEPENDENT EXAMINER** Rachael Smith, Chairperson (Appointed 30 September 2025) Jodie Thomson, Vice Chairperson (Appointed 30 September 2025) Shannon Milne, Joint Chairperson (Resigned 30 September 2025) Reah Graham, Joint Chairperson (Resigned 30 September 2025) Tyler Davies, Treasurer Daska Smith, Secretary CM McGregor, C.A., M.A.A.T. 26-30 Marine Place Buckie Moray AB56 1UT ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Association is a charitable unincorporated association and the purposes and administration arrangements are set out in our constitution. ## **Recruitment and appointment of Trustees** All of the Association's trustees are appointed or reappointed by the members at our annual general meeting, which is held in September each year. ## **OBJECTIVES AND ACTIVITIES** ## **Charitable purposes** The charitable purpose of the charity is to provide pre-school education playgroup places for up to 24 children in the age range from 2 to 5. ## **ACHIEVEMENTS AND PERFORMANCE** The charity continued to deliver the statutory curriculum throughout the year which included stimulating and challenging activities and experiences. **- 1 -** ## **THE PORTESSIE PLAYGROUP** ## **TRUSTEES' ANNUAL REPORT** _**(continued)**_ ## **YEAR ENDED 31 JULY 2025** ## **FINANCIAL REVIEW** ## **Reserves** As a result of the deficit of £24,843 (2024: surplus £14,427) for the year, the charity held unrestricted funds of £325,072 (2024: £349,915). ## **INDEPENDENT EXAMINER** CM McGregor C.A., M.A.A.T. has been appointed as independent examiner for the ensuing year. The trustees' annual report was approved on 8 December 2025 and signed on behalf of the board of trustees by: _Rachael Smith_ _Jodie Thomson_ Rachael Smith, Chairperson Trustee Jodie Thomson, Vice Chairperson Trustee **- 2 -** ## **THE PORTESSIE PLAYGROUP** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PORTESSIE PLAYGROUP** ## **YEAR ENDED 31 JULY 2025** I report on the financial statements for the year ended 31 July 2025, which comprise the statement of financial activities, statement of financial position and the related notes. ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** The charity's trustees are responsible for the preparation of the accounts in accordance with the terms 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)(a) to (c) 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 REPORT** My examination is carried out in accordance with Regulation 11 of the 2006 Accounts 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: (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and - to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations - have not been met, or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. _C McGregor_ CM McGregor, C.A., M.A.A.T. Independent Examiner 8 December 2025 26-30 Marine Place Buckie Moray AB56 1UT **- 3 -** ## **THE PORTESSIE PLAYGROUP** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDED 31 JULY 2025** |||**2025**|**2025**|2024| |---|---|---|---|---| |||Unrestricted||| |||funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Donations and legacies|**4**|197,098|**197,098**|179,937| |Charitable activities|**5**|3,053|**3,053**|2,988| |Other trading activities|**6**|6,486|**6,486**|4,648| |Other income|**7**|469|**469**|494| |||--------------------------------|--------------------------------|--------------------------------| |**Total income**||207,106|**207,106**|188,067| |||================================|================================|================================| |**Expenditure**||||| |Expenditure on charitable activities|**8,9**|231,949|**231,949**|173,640| |||--------------------------------|--------------------------------|--------------------------------| |**Total expenditure**||231,949|**231,949**|173,640| |||================================|================================|================================| |||--------------------------------|--------------------------------|--------------------------------| |**Net (expenditure)/income and net movement in funds**||(24,843)|**(24,843)**|14,427| |||================================|================================|================================| |**Reconciliation of funds**||||| |Total funds brought forward||349,915|**349,915**|335,488| |||--------------------------------|--------------------------------|--------------------------------| |**Total funds carried forward**||325,072
================================|**325,072**
================================|349,915
================================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 6 to 10 form part of these financial statements.** **- 4 -** ## **THE PORTESSIE PLAYGROUP** ## **STATEMENT OF FINANCIAL POSITION** ## **31 JULY 2025** |**31 JULY 2025**|||| |---|---|---|---| |||**2025**|2024| ||**Note**|**£**|£| |**FIXED ASSETS**|||| |Tangible fixed assets|**13**|**5,750**|6,765| |**CURRENT ASSETS**|||| |Debtors|**14**|**164**|157| |Cash at bank and in hand||**321,161**|344,756| |||--------------------------------|--------------------------------| |||**321,325**|344,913| |**CREDITORS: amounts falling due within one year**|**15**|**2,003**|1,763| |||--------------------------------|--------------------------------| |**NET CURRENT ASSETS**||**319,322**|343,150| |||--------------------------------|--------------------------------| |**TOTAL ASSETS LESS CURRENT LIABILITIES**||**325,072**|349,915| |||================================|================================| |**FUNDS OF THE CHARITY**|||| |Unrestricted funds||**325,072**|349,915| |||--------------------------------|--------------------------------| |**Total charity funds**|**16**|**325,072**
================================|349,915
================================| These financial statements were approved by the board of trustees and authorised for issue on 8 December 2025, and are signed on behalf of the board by: _Rachael Smith_ _Jodie Thomson_ Rachael Smith, Chairperson Trustee Jodie Thomson, Vice Chairperson Trustee **The notes on pages 6 to 10 form part of these financial statements.** **- 5 -** ## **THE PORTESSIE PLAYGROUP** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2025** ## **1. GENERAL INFORMATION** The charity is a public benefit entity and a registered charity in Scotland and is unincorporated. The address of the principal office is Portessie Primary School, School Road, Portessie, AB56 1TN. ## **2. STATEMENT OF COMPLIANCE** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended). ## **3. ACCOUNTING POLICIES** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. **- 6 -** **THE PORTESSIE PLAYGROUP** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2025** ## **3. ACCOUNTING POLICIES** _**(continued)**_ ## **Income** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Expenditure** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Tangible assets** Tangible assets are initially recorded at cost. ## **Depreciation** Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Equipment - 15% reducing balance **- 7 -** ## **THE PORTESSIE PLAYGROUP** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2025** ## **4. DONATIONS AND LEGACIES** |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---|---| |||Funds|**2025**|Funds|2024| |||£|**£**|£|£| ||**DONATIONS**||||| ||Donations|1,980|**1,980**|2,695|2,695| ||**GRANTS**||||| ||Moray Council grant|195,118|**195,118**|177,242|177,242| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |||197,098|**197,098**|179,937|179,937| |||================================|================================|================================|================================| |**5.**|**CHARITABLE ACTIVITIES**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2025**|Funds|2024| |||£|**£**|£|£| ||Session fees|3,053|**3,053**|2,988|2,988| |||=======================|=======================|=======================|=======================| |**6.**|**OTHER TRADING ACTIVITIES**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2025**|Funds|2024| |||£|**£**|£|£| ||Fundraising events|6,486|**6,486**|4,648|4,648| |||=======================|=======================|=======================|=======================| |**7.**|**OTHER INCOME**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2025**|Funds|2024| |||£|**£**|£|£| ||Other income|469|**469**|494|494| |||==============|==============|==============|==============| |**8.**|**EXPENDITURE ON CHARITABLE**|**ACTIVITIES BY FUND TYPE**|||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2025**|Funds|2024| |||£|**£**|£|£| ||Playgroup costs|229,745|**229,745**|171,307|171,307| ||Support costs|2,204|**2,204**|2,333|2,333| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |||231,949|**231,949**|173,640|173,640| |||================================|================================|================================|================================| **- 8 -** ## **THE PORTESSIE PLAYGROUP** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2025** ## **9. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE** ||Activities|||| |---|---|---|---|---| ||undertaken|Support|**Total funds**|Total fund| ||directly|costs|**2025**|2024| ||£|£|**£**|£| |Playgroup costs|229,745|–|**229,745**|171,307| |Governance costs|–|2,204|**2,204**|2,333| ||--------------------------------|-----------------------|--------------------------------|--------------------------------| ||229,745|2,204|**231,949**|173,640| ||================================|=======================|================================|================================| ## **10. NET (EXPENDITURE)/INCOME** Net (expenditure)/income is stated after charging/(crediting): |Net (expenditure)/income is stated after charging/(crediting):||| |---|---|---| ||**2025**|2024| ||**£**|£| |Depreciation of tangible fixed assets|**1,015**|1,195| |Fees payable for the audit of the financial statements|**941**|890| ||=======================|=======================| ## **11. STAFF COSTS** |The total staff costs and employee benefits for the reporting period are analysed as|The total staff costs and employee benefits for the reporting period are analysed as|follows:| |---|---|---| ||**2025**|2024| ||**£**|£| |Wages and salaries|**148,014**
================================|134,749
================================| The average head count of employees during the year was 9 (2024: 8). No employee received employee benefits of more than £60,000 during the year (2024: Nil). ## **12. TRUSTEE REMUNERATION AND EXPENSES** Trustees did not receive any remuneration for their work during the year. ## **13. TANGIBLE FIXED ASSETS** ||Equipment|**Total**| |---|---|---| ||£|**£**| |**Cost**||| |**At 1 August 2024 and 31 July 2025**|14,921|**14,921**| ||============================|============================| |**Depreciation**||| |At 1 August 2024|8,156|**8,156**| |Charge for the year|1,015|**1,015**| ||----------------------------|----------------------------| |**At 31 July 2025**|9,171|**9,171**| ||============================|============================| |**Carrying amount**||| |**At 31 July 2025**|5,750|**5,750**| ||============================|============================| |At 31 July 2024|6,765|6,765| ||============================|============================| **- 9 -** ## **THE PORTESSIE PLAYGROUP** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 JULY 2025** |**14.**|**DEBTORS**||||| |---|---|---|---|---|---| |||||**2025**|2024| |||||**£**|£| ||Prepayments and accrued income|||**164**|157| |||||==============|==============| |**15.**|**CREDITORS:** **amounts falling due within one year**||||| |||||**2025**|2024| |||||**£**|£| ||Trade creditors|||**2,003**|1,763| |||||=======================|=======================| |**16.**|**ANALYSIS OF CHARITABLE FUNDS**||||| ||**Unrestricted funds**||||| |||At|||| |||1 August 202|||**At**| |||4|Income|Expenditure|**31 July 2025**| |||£|£|£|**£**| ||General funds|349,915|207,106|(231,949)|**325,072**| |||================================|================================|================================|================================| |||At|||| |||1 August 202|||At| |||3|Income|Expenditure|31 July 2024| |||£|£|£|£| ||General funds|335,488|188,067|(173,640)|349,915| |||================================|================================|================================|================================| |**17.**|**ANALYSIS OF NET ASSETS BETWEEN FUNDS**||||| |||||Unrestricted|**Total Funds**| |||||Funds|**2025**| |||||£|**£**| ||Tangible fixed assets|||5,750|**5,750**| ||Current assets|||319,322|**319,322**| |||||--------------------------------|--------------------------------| ||**Net assets**|||325,072|**325,072**| |||||================================|================================| |||||Unrestricted|Total Funds| |||||Funds|2024| |||||£|£| ||Tangible fixed assets|||6,765|6,765| ||Current assets|||343,150|343,150| |||||--------------------------------|--------------------------------| ||**Net assets**|||349,915|349,915| |||||================================|================================| **- 10 -**