REGISTERED CHARITY NUMBER: SC009962 Re ort of the Trustees and dited Financial Statement for the Year Ended 31 December for Banff Castle Communlt Association M Squared Accountants Bank House Seaforth Street Fraserburgh Aberdeenshire AB43 98B
Banff Ca511e Communil Association Contents of the Financial Slalemenls for the Year Ended 31 December 2024 Page Report of the Trustee$ Independellt Examinels Report Statement of Financial Activitie5 Balance Sheet Note5 to the Finanelal Slalements 7 10 13 Detailed Statement of Financial AGtivlties 14 to 15
Banff Castle mmuni Association Re ort of the Trustees for the Year Ended 31 Decernber 2024 The trustees present their report with the financlal statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims To promote the well being of the community resident in the Royal Burgh of Banff and its immediate neighbourhood by associating with local authorities, voluntary youth and adult organisations and residents in a common effort to further health, to advance education, to provide a me81ing place and facilities for physical and Tnenlal training and recreation and social, moral and intellectu81 development and lo foster a community spirit for the achievement of those and such oiher purposes as may by law be deemed charitable. To establish, maintain and rnanage a community centre for aetivili8s promoted by the association and its constituent members or otherwise approved by the association in furtheianGe of the above objec15 or any of them. ACHIEVEMENT AND PERFORMANCE Charitable activities Committee Achievements and Challenges in the Post-COVID Period Followng the challenges posed by the COVID-19 pandemic, the Committee has continued to make strong progress in revitalising community engagement through a vibrant programme of events throughout the year. More than 20.000 people visited the facility during 2024, with many taking part in both indoor and outdoor activities and enjoying the improved environment. This remarkable level of participation reflects the communills enthusiasm for returning to in-person galherlngs. Highlights included: The Highland Feslival, which marked a momentous occasion and enjoyed overwhelming public support. The Blue Light Festival, celebrating emergency services while crealing valuable opportunities for residents lo meet and thank first responders. Family Activity Day. a fun-filled event designed for Ghildren and families. Classic Car Day, which brought together car enthusiasts and visitors of all ages. Banff Castle Rocks, a day of lop music entertainment including former chart-lopping band 'Bay City Rollers, These events were made possible thanks to the generoslty of donors and sponsors, whose contributions were instrumental to their success. While organising events brought many rewards, the committee also faGeé ongoing challenges in maintaining th8 grounds and buildings. In particular, recommendatlons from a Fire Risk Assessment required urgent attention. One positive development was the transformallors of the outdoor space, thanks to the dedication of a volunteer who gr8ally enhanced the landscaping, creating a more welcoming environment for visitors. Page 1
8anff C slle Communi socialion Re ort of the Trustees for the Year Ended 31 December 2024 ACHIEVEMENT AND PERFORMANCE Charitable actlvltie$ Gontd. Alongside these improvements, the committee Invested 51gnificant financial resources into essential upgrades, including fire safety measures, general repairs, and redecoration. These works were wlal for ensuring the safety and comfort of all users bul placed considerable pressure on the budget. Encouragingly, bookings for meetings and training sessions increased, bringing new groups and aGlivilies into the venue and strengthening its reputation as a hub for both community and professional gatherings. During the year a number of new volunteers were re¢ruiled. The volunteers assisted to deliver events, strengthen income generation and delivered positive results. Further inve51menl in 2024 supported furthèr professional architectural services, as well as planning and building warrants to convert ursused areas into new exhibilion, conference, and meeting Spaces. Grant funding was successfully secured. enabling the remodelllng of a previously unusable section of the building. These works were completed in 2025 and represent a long-term investment expected to deliver significant benefits for years to come. A number of council grants assisted with Infrastructure and equipmont to enhan users and visitors experience. The Castle Garden Café has beGome an important element of the venue allracting regular Customers. In summary Banff Castle Community Centre has become well established as a must V1511 place and brought new life to Banff with rnany local businesses benefiting from significant increases in visitors lo the area. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlSed by its governing docL¢menl, a deed of trust and constitutes an unincorporated Charity. The associ8tlon was sel up In 1952 and is recognised as a Scottish ChaTIIy. The Gh3ri1y is administered in accordance with the terms of the conslilution. ReGYUltrnent and appointment of new trustees Appointment and removal is in accordanc@ with the association whlch requires that appolntment is approved by unanimous ogreement of the existing Iruslees and removal of any trustees by unanimous agreement of the others. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number SC009962 Page 2
Ban astle Communll Association ort of the Tnjstees for the Y ar Ended 31 De mber 2024 prtnclpal address Banff Castle Castla Street Banff Banffshirè AB45 1DL Trustees Independent Examlner M Squared AcGounlants B8nk House Seaforth Streel Fraserburyh Aberdeenshire AB43 9BB Approved by order of the board of trLtstees on behalf by.. Iq.:Oq:202 and slgned on its Page 3
Inde ende t Exam r's Re Banff Castle Co muni I report on the accounts for the year ended 31 Dec8mber 2024 set out on pages flve to thirteen. ort to the Truste soclation Respg¢tlve rèsponsibllilies of trustees and gxaminer The charity's trustees are responsible for the pfftporalion of the accounts in accordance with the terms of ltte Charltles and Trusteè Investment IScolland} Act 2005 and the Charitie5 Accounts {Scoll8nd} Regulallon5 2006 las amended). The charitls tru51ees consider that th8 audit reqviremenl of Regulation 10{1)la) to {cl of the Accounls Ragulalions does not apply. It is my responsibility lo examine Ihe accounts as required under Seclion 44111(c) of the Act and to slate whether particular matters have come to my attention. Basis of the Independent •xamlner's rèport My examinalion was carried out in accordance with Regulation 11 of the Charilie$ A¢countS (Scolland) Regulations 2006. An examination includes a review of the accounting rec(d8 kept by the charity and a comparison of the accounts presented wllh those records. It also includes nsideralion of any unusual items or disclosures in the accounts, and seeking exp18n21ions from you as trustees concerning any 5uGh mallers. Ttre proceduros undertaken do not provide all the evidence mal would be required in an audit, and Gonsequenlly I do not express an audit opinion on the vlew givon by the aecounl5. Independent examlnerfs statement In conlleGlion with My ex8mination, no matter has corne lo my attention (1} which gives me reasonable cause to believe that, in eny maleTlal rgspect, the requlrements to keep accounting records In accordance with Section 4411lla} of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations., and to prepare accounts which accord with the accounting records and to mplY WI Regulation 8 of the 2006 Accounts Regulalions have not been mel. or 12) lo which, in my opinion, attention should be drawn in order to enable a proper understanding of the a¢¢ounts lo be reached. M Squared Accountants Bank House Sealorth StTeet Fraserburgh Aberdeen5hire AB43 9BB Date.. Page 4
anff C8slle Communil Associ on Slalemenl of Financlal Activities for the Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Charitable actlvitles Charitable activities 34.801 7,260 42.061 56,018 Other trading activities Investment income 35,027 1,143 35,027 1.143 24,594 923 Total 70,971 7,260 78,231 81,535 EXPENDITURE ON Raising funds 26,933 7.260 34,193 34,635 Charitsble activlties Charitable activities 35.189 35,189 48,610 Total 62,122 7,260 69.382 83.245 NET INCOMEI{EXPENDITUREI 8,849 8,849 (1,7101 RECONCILIATION OF FUNDS Total funds brought forward 61,396 61,396 63,106 TOTAL FUNDS CARRIED FORWARD 70,245 70,245 61,396 The notes form part of these financi81 slalements Page 5
anff asllg Communi Assoc lion Balance Sheet 31 Decerllber 2024 31.12.24 Total funds 31.12.23 Total funds UnreslriGled Restricted fund lunds Notes FIXED ASSETS Tangibb assets 17,275 14,475 31.750 9,642 CURRENT ASSETS Stock$ Debtors Cash at bonk and in hand 1.QOO 11,578 52,000 1,000 11,578 52.000 1,000 3,483 49,448 64,578 64.57e 53,931 REDITORS Amounls falling due within one year 10 111,608) (11,608) 12,177) NET CURRETrtr ASSETS 52,970 52,970 51,754 TOTAL ASSETS LESS CURRENT LIABILITIES 70,245 14.475 84,720 61,396 CREDITORS Amounts falling due after more than one year 11 {14,4751 I14,475} NET ASSETS 70,245 70,245 61.396 FUNDS UnrestrScted funds 12 70,245 61,396 TOTAL FUNDS 70,245 61,396 The financial 51atemenls wtrre approved by the Board of Trustees and authorised for Issue on . and wore glgned on its behaff by.. The notes form part of thgso flnanelal slalemenls Page 6
Banff Cas ommuni Association Notes lo the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basls of preparing tho flnancial statements The financial statements of the charity, which is a public benefll entity under FRS 102, have been prepared in accoTdance with the Charitie5 SORP IFRS 1021 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeclive 1 January 20191,, Financial Repo.ng Slardard 102 'The Financi31 Reporting Standard applicablo In the UK and Republic of Ireland, and the Charities and Trustee Investment (Scolland) Act 2005. The financial slalemenls have been prepared under the historical cost convention. Income All income is recognised in the Slalemer¢l of Financial Activities once the charity has entitlement to the funds, it is probable that the incorne will ba received and the amount can be measured reliably. Expendlture Liabilities are recooni5ed as expenditure as soon a5 there is a legal or constructive obligation committing the ¢harily lo that expenditure, it is probable that a tr8nsfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is 8ceounted lor on an accruals basis and has been classified under headings Ih81 aggregate all cost related to the category. Where costs cannot be directly allribuled to particular headings they have been allocated lo activities on a basis consislenl with tha use of resources. Tangible flxed assets Depreciation is provlded at the following annual rates In order to write off each asset over its estimated useful life. Improvements lo property Plant and machinery Computer equipment 5QA on cost Slraighl Ilne over 4 years Straight line over 4 years Stocks Stocks are valued al the lower of cost and nel realisable value. after making due allowance for obsolete 8nd slow moving items. Taxation The charity is exempt from lax on it5 charitable aclivilies. Fund accounting Unreslricled funds Gan be used in acGordanGe with the charrtable objectlves at the discretion of the trustees. RestriGted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by Ihg donor or when funds are raised for particular restricted purposes. Further explanallon of the nature and purpose of each fund is included in the notes to the rinancial slalemenls. Page 7 Continued...
Banfl Castle Commu Association Notes lo the Financial Statements - continued for the Year Ende 31 December 2024 ACCOUNTING POLICIES- contlnued Penslon costs and other post-retirem9nt benoflts The charity operates a defined contribution pension scheme. Contributions payable to the charity's pernsion scheme are charged lo the Slalemenl of Financlal Aclimlies in the period lo which they relate. OTHER TRADING ACTIVITIES 31.12.24 31.12.23 Donations & Other Income Membershlps Event Income Coffee House Incorne 7.167 120 19.174 8,566 3,060 110 11,640 9,784 35,027 24,594 INVESTMENT INCOME 31.12.24 31.12.23 Deposit account interest 1,143 923 RAISING FUNDS Investment managem8nt costs 31.12.24 31.12.23 Property rep21rs 12,553 12,094 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for Ihe year ended 31 December 2024 nor for the year ended 31 DeGember 2023. Trustees, expgnses There were no trustees, expenses pald for the year ended 31 DeGember 2024 nor for the year ended 31 December 2023. Page 8 continued...
nff Castle Communit Associalio Notes to the Financial Statements- continued for the Year Ended 31 December 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total fund5 INCOME AND ENDOWMENTS FROM Charltable actlvlties Charitable activitie5 56,018 56,018 Other Ir8ding aclivlties Investment income 24,594 923 24.594 923 Total 81,535 81,535 EXPENDITURE ON Raising funds 34,635 34.635 Charltable activlti95 Charitable activities 48.610 48,610 Total 83,245 83,245 NET INCOMEIIEXPENDITUREI {1,7101 11.710) RECONCILIATION OF FUNDS Total funds brought forward 63,106 63,106 TOTAL FUNDS CARRIED FORWARD 61,396 61,396 Page 9 conlinued...
Banff astle Communi ocialion Notes lo the Financial Statements - conllnued for the Year Ended 31 December 2024 TANGIBLE FIXED ASSETS Improvements to property Plant and Computer machinery equipment To181s COST At 1 January 2024 Addllions 4.235 12,135 5,442 13,492 902 10,579 25,627 At 31 De¢embeT 2024 16,370 18,934 902 36,206 DEPRECIATION Al 1 January 2024 Charge for year 174 398 654 2,g41 109 180 937 3,519 At 31 December 2024 572 3.595 289 4,456 NET 800KVALUE At 31 December 2024 15,798 15,339 613 31,750 Al 31 December 2023 4,061 4,788 793 9,642 STOCKS 31.12.24 31.12.23 stoGkg 1,000 1.000 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Trade debtors Prepayments Accrued income 2,501 982 1,658 9.920 11,578 3,483 Pa9e 10 Gonlinued...
Banff Castle Commu Association Notes lo the Financial Statements - co for the Year Ended 31 D8C8mber 2024 ued 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Trade credltors Taxation and social security Other ¢redilors 8,730 11,0511 942 2,286 2,878 11,608 2.177 11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.24 31.12.23 other creditors 14,475 12. MOVEMENT IN FUNDS Net movement in funds At 1.1.24 31.12.24 Unrestrlcted funds Charitable activities 61,396 8,849 70,245 TOTAL FUNDS 61,396 8,849 70.245 Nel movement in funds, included in the above are a5 fo51ows'. Incoming Resources Movement resources expended in funds Unrestricted funds Charitable activities 70,971 162,1221 8,849 Restrlcted funds Banffshire Highland Festival Installation of external power points 4,500 2,760 14,5001 12,7601 7,260 (7,2601 TOTAL FUNDS 78,231 169,3821 8,849 Page11 Continued...
Banff Castle Communit Asso¢i8lio Notes lo the Financial Statements- continued for th8 Year End8d 31 December 2024 12. MOVEMENT IN FUNDS- continued Comparatives for movement In funds Nel movement in funds At 31.12.23 At1.1.23 Unrestrlcted funds Charitable activities 63.106 11.7101 61,396 TOTAL FUNDS 63,106 (1,710) 61,396 Comparative net movement in funds, included in the above are as follows- Incomlng Resources Movement resources expended n funds Unrestricted funds Charitable activities 81,535 183,2451 {1,710) TOTAL FUNDS 81,535 183,245) 11,710) A current year 12 months and prior year 12 months combined position is as follows.. Nel movement in funds At 31.12.24 Al 1.1.23 Unrestrlctod funds Charitable activities 63,106 7.139 70,245 TOTAL FUNDS 63,106 7,139 70,245 Page 12 continued...
Banff Castle Communil Assoclation Notes lo the Financial Statements- continued for the Year Ended 31 December 2024 12. MOVEMENT IN FUNDS- contlnu¢d A current year 12 months and prior year 12 months comblned net movement in funds, included in the above are as follows- Incoming Resources Movement resources expended In fLJnds UnTeslrlcted funds Charitable activities 152,506 {145,3671 7,139 Restricted funds Banffshire Highland Festival Installation of external power points 4,500 2.760 14,500} {2,760) 7,260 {7,260} TOTAL FUNDS 159,768 {152,627) 7,139 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 Decemb8r 2024. Page 13
Banff Castle Communil Association Detailed Slatemenl of Financial Activities for the Year Ended 31 December 2024 31.12.24 31.12.23 INCOME AND ENDOWMENTS Other tradlng actlvltles Donations & Other Income Memberships Event Income Coffee House Income 7,167 120 19,174 8,566 3,060 110 11,640 9,784 35.027 24,594 Investment Income Deposit account interest 1,143 923 Charltable actlvltles Room Hire Office & Lodge Rents Castle & Grounds Hire Grants 21,201 13,600 15,799 17,219 700 22.300 7,260 42,061 56.018 Total Incomlng rgsources 78,231 81,535 EXPENDITURE other trading activltlès Opening stock Event Expenditure Coffee House Costs Advertising Release of government grants Depreciation of tangible fixed asset5 Closing stock 1,000 12.518 4,921 2,041 11,3601 3,520 11,000) 9,913 10,782 2,846 11,0001 21,640 22,541 Investrnent management Costs Propety repairs 12,553 12,094 Charitable actlvltles Rates and water Insurance Light and heat Carried forward 1.601 5,747 8.462 15,810 518 1,431 2,052 4,001 Thls page doos not form part of Ihe statutory financlal statements Page 14
anff Caslle Communi Association Detailed Statement of Financial Activities for the Ye8r Ended 31 December 2024 31.12.24 31.12.23 Charltable actlvltles Brought forward Gardening Cleaning Premises including improvement Refurbishment costs 15,810 6,132 1.896 1,273 4,001 3.219 1,211 3.646 1,568 25,111 13,645 Support costs Management Wages Penslons Telephone Postage and stationery Sundries 2,083 47 853 676 3,094 22,965 387 1,154 1.607 2,700 6,753 28,813 Financo Bank charges Depreciation of tangible fixeis assets 249 225 14571 249 (232) Governance costs Accountancy and legal fees Architect fees Legal fees Depreciation of langlble fixed assets 2.260 1.991 3,000 816 1.393 3,076 6.384 Total resources expended 69.382 83,245 Net Incomel(expendlturel 8,849 11,7101 This page does nol form part of the statutory financlal slalements Page 15