WALLYFORD MINERS CHARITABLE SOCIETY REGISTERED CHARITY NUMBER SC010359 TRUSTEES, REPORT AND FINANCIAL STATEMENTS OR THE YEAR ANUARY 2025
WALLYFORD MINERS CHARITABLE SOCIETY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 INDEX ONTENTS PAGE Charity Information Trustees, Report Independent Examiner'8 Report Staièrnent of Financial Activities Balance Sheet Notes lo the Financial Statements
WALLYFORD MINERS CHARITABLE SOCIETY YEAR ENDED 31 JANUARY 2025 CHARITY REGISTRATION NUMBER SC010359 PRINCIPALADDRESS 24 Salters Road Wallyford Musselrgh EH218AA TRUSTEES ACCOUNTANTS CISVVO ITra(Jingi Ltd The Old Rectory Reeiory Drive Whision Rolherham S60 4JG BANKERS Royal Bank of $t19nd pl Mu?selbursh Branch 12 Bndge Slreel Musselburgh EH216AH
WALLYFORD MINERS CHARITABLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 JANUARY 2025 The trustees present their annual report and financial statements ol the charity lor the year ended 31 J8nu8ry 2025 The financial slalements have been prèpared In accordance with the accounting policies set out in Note 1 to the accounts and comply with the charity'5 Iiust deed. the Charitie5 and Trustee Investment IS¢otl8ndl Acl 2005. the Charities Accounts (Scotlandl Regulations 2006 las amended) and Accounting and Reporting by Charities Statement of Recomrnended Practice applicable lo charitiès preparing Ih81r accoun15 In accordance with the Financial Reporting Standard applicable In the UK and Republic ol Ireland published on 16 July 2014. Structure Governance and Mana emgnt Wall5rford Miners Charitable Society was established in 1993 and Is registered with the Office ol the Scottish Charity Regulator (No SC01035918S an Unicorporated As50Clation and 15 governed by Its constitution and regulations. which were created In coniuction with The Coal Industry Social Welfare Organisalion ICISWOI. There are four trustees and thos8 who havè served during the year are shown on page 1. The trustees are èlected by the membership al the Annual Genèral Meeting. They will usually, but not necessarily, have served as mernbers of the rnanagemenl committèe prior lo such election There Is no minimum period ol service required prior lo being norniDated. All Iruslees hold office lor a period ol three years and to ensure continuity stand lor re-election on a rola basi5 Training Is ongoing and trustees will usually have served on the rnanagemenl committee prior to being nominated lor appointment All members of the management committee are lon9-serving Individu81$. While there is no specific induction and training program In place. all Irustee5 accept that, should they not be re-elected, thère will be a period ol three rnonths during which thel are required to provide any assistance lo their successor in order to enable them lo lullil th•ir duties. Trustees are requirad lo disclose all relevant interests whèn making a decision and lo withdraw from decisions where a ¢onflict ol Interest arises. or lo act 8olÈly In the Interests ol the Charity where this conflict Involvas the Club. Ob ectSves and Review of Actlvltles The objective5 of Ihe Charity are to provida facilities lor 6uch forms ol recreation and other18isur8 time occupation as are ¢onducive lo the Improvement ol the conditions ¢1 living ol the inhabitants ol Wallyford and the surrounding 8rea ol Musselburgh In keeping with our aims and objectives, the charity has conlinved to support activities which can be enjoyed by the residents of the local community thereby promoting a c¢mmunily atmosphere In the Suffounding area. Financial support has been given for various activities In¢luding St. Andrews Night, Old Folks Treat. Ladi85 Night and Christmas Party. Flnanclal Review The Charity's Slalemenl of Financial Activities shows a surplus of £12.654 before investment movements 12024.. surplus £18.5521 Strong economic factor5 have Influenced the rnarkels and this has resulted in investment oains which has in turn affected the overall result for the year. The Social Club wa5 in position to make a donation under Gift Aid ol ils taxable profits £19.40912024". £25,518). Therefore the overall surplus was £75.45212024. surplu5 £6,886).
WALLYFORD MINERS CHARITABLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2025 CONTINUEO Invèstment Pollc There are no restrictions on thè Charity's power to invest The Iruslees continue to monitor the level ol funds available lor Investment and all Investment opportunities wll be considered The majority ol the charity's funds hav been held in a low-r15k. Short term deposit The Iruslee5 have taken the opportunity during the year to review all availabl& Investment opportunities to the charity They have made investrnen15 In Corporate Bonds and Equities wlh thg aim ol achieving gr0h In the reservfys retained. Risk Mana ement The principal risks faced by the Charity are the maintenance of Ihe property. ptsiential loss of its rnain source ol incom? and a lack ol funds lor investmant In rts laci111ies The Charity has an active progT8mme ol regularly refurbishing and upgradin9 the property lo ensure that it continues lo provide a suitable venue for recreation and olhar leisurè time activities. The trustees consider the level ol reservès shown 81 the trnd ol the year Is adequate and have considere(S their current and lulure liabilities. The charity Iruslees have decided that a minimum reserves lèvel of £250,000 15 appfopriale to maintain th& annu81 running of the ¢harily. The Ifustees consider that this level will be sufficiènt lo help promote the upkeep of th• W8llyford Miners W•llare and Social Club prmi$•s. Al the end ol the year the accurnulated fund balance was E936.813. temont of Trust8•s Res Law applicable 10 ¢haritiès In Scoiiand requires the charity trustees lo prep8re financial slal6menls lof each ar which give a true and lair view of the slate ol affairs of thè charity and of the Income and expenditur¢ ol th8 charity for that period. In preparing thè financial stalemenls the Iruslees are required lo. select suitable accounting poli¢ie$ and then apply them consist¢nlly', observe the melhods and principles In the applicable Charities SORP., make judgements and eslimaies Ihal are reasonable and prudent., State wh8lher applicable accounting Standards have been followecl, $ubie¢t lo any matefiol departur•$ disclosed and explained in the financial staternents., prepare the financial slalemenls on the 90ing concem basis unle$8 il is inappropriate 1¢ presume that the charity will continue in business. The trustaas are responsible lor keeping proper aecountin9 records Ihal disclose with reasonable ¥¢¢ura¢y al any lime the hnancial position of th ¢harity and to enable them ènsure that the financial statements comp5y with thè Charity and Trustee Investment IS¢oiiandl Act 2005. the Charity Accounts (Scotlandl Règuiaiions 2006185 amended) and the provision5 01 the trust deed They are also responsible lor safeguarding the assets ol the charity and lor taking r6ason8blè steps lor the prevention and detection ol fraud and other irregularities.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALLYFORD MINERS CHARITABLE SOCIETY I report to the trustees and members ol Vvallyford Miners Gharily IRegi51ered Charity Number SC0103591 on the accounts lor the year ended 31 January 2025 as Sel out on pages S 10 9 Res ective res onsibililies of Iruslees and exarniner The charity's trtjslees are responsible loi the preparalitsn of the accounts in accordance with Ihe terms ol the Charities and Trustee Investm6nt ISco11andl Act 2005 and Ihe Charitiès Accounts IS¢ollandl Regulations 2006 las amended) The charity Irustees consider that the audit requirement on Regulation 10111 lal lo Icl ol the Accounts Regulalions does not apply It Is my responsibility to axarnine the accounts as required under section 4411llcl ol the Act and lo slate whether particular matter5 have come lo my attention 88515 of inde endènt examiner's slalem¥nt My examination Is carried out In accordance with Regulation 1101 the 2006 A¢¢ounls Regulations. An exarninalion 1n¢ludes a review of the accounting records kepl by the charity ancl a comparison of the accounts presented with those rècords It also Includes consideration of any unusual ilerns or disclosures In lh• 8¢counls and seeks explanations Irom Ihe Irvstees Mn¢erning any such matters. The procedures undertaken do nol provide all Ihè evidence Ihai woul¢J bè required in an audit. and consequently I do not expre55 an audit opinion on th8 accounts. In ndent exarniner's sla ernenl In the course ol rny examination, no rnatter has corne lo my attention 111 whh gives me reasonable cau$* lo believe that in any material re$pe¢t Ihe requirements,. lo keep accounling records in accoirJanc6 th s•clion 4411llal ol th8 2005 Act and Regulation 4 of thè 2006 Accoun15 R•gulalions, and lo prepare accounts which 8ccord with the accounting records and compty with R•gulalion 8 of the 2006 Accounts Regulation$ have nol been rnel, or 121 lo which. in rny opinion, allenlion Should bè drawn in order lo enable a proper understan4ing ol the acctsunls to be reached Date Oli LL!: .If J.- ilts,.: The Old Rectory Rectory Drive Whislon Rotherham S60 4JG
WALLYFORD MINERS CHARITABLE SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025 Unrestricted Funds 2025 2024 Note Income Donations Subscriptions Hovseylbingo Lotto and other incorne Hall Ticket income Occupation licence Gift aid Income from investments Interest received 6,179 12,201 13.288 6.061 4.240 4,072 27,250 19.409 21.762 526 6,604 11.371 18.015 5,181 3,020 3,877 27,250 25.518 23.077 314 Total Income 114,988 124,227 endltur Honoraria Depreciation Rates and insurance Heat. light and power Repairs and renewals Bowling - catering and as$o¢lalion fees Accountancy Investrnent managers eharg¥8 Artists and entertainment Donations Childrens gala expenses Sl. Andrews night expenses Ol¢J folks Ireal Ladies night Christmas party Total Expandlturn 5,250 3,377 3,600 4.800 3.600 18,120 1,498 5.504 37.285 1,263 3,000 3.160 4.962 5,482 4,774 10S,675 15,79S 3.600 4.800 3,600 1 S,372 1.573 8.032 33,767 2,673 2.946 2.169 7.002 3.005 102.334 N•t Income b•for8 Invostments 12,664 18,652 Nel gains I Ilos8e$l on Investments Net movement In funds 62,798 1116661 6,886 7S,452 Fund balancas at 1 February 2024 875,437 868,551 Fund balancas at 31 January 2025 950.889 876,437 The statement of financial activities in¢ludés all gains and losses recognised in the year. All incorne and expenditure derive from continuing activities.
WALLYFORD MINERS CHARITABLE SOCIETY BALANCE SHEET AS AT 31 JANUARY 2025 2025 2024 Note FIXED ASSETS Tangible assets Investments 142.154 697.735 157.949 603.952 CURRENT ASSETS Dèblof5 Cash al bank and In hand 59.952 52.621 73.365 41,669 112.573 115,034 LESS.. CURRENT LIABILITIES Creditors falling due within one year 11,5731 It,4981 NET CURRENT ASSETS 111.000 113.538 TOTAL ASSETS LESS CURRENT LIABILITIES 950,889 875,437 INCOME F ND Unrestricted funds 950,889 875.437 9SO.889 875.437 Date ../0 Dale So. Isl2S
WALLYFORD MINERS CHARITABLE SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 1. ACCOUNTING POLICIES lal Basls of preparation and assessment of going concern The financial statements have been prepared under the historical cost convention with items re¢ognised at cost or transaction value unless olhemise slated in the relevant notes to Ihtsse accounts. The financial statements have been prepared In accordance with the Statement of Recommended Practice". Accounting and Reporting by Charities prepanng their a¢Goun15 in accordance with the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021 issued on 16 Juty 2014 and the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charitiès and Trustee Investrnent Iscotlandl Act 2005 and thé Chaiilies Accounts (Scotlandl Regulation5 200613$ 8mèndedl The trustees consider that there are no material uncertainties about the Chafily's abilily to ¢onlinue 8$ 8 going concern. The trustees have a reasonable expectation that the Charity has adequate reserve5 to continue In operational existen¢e lor ltte foreseeable lulure Accordingly. thè trusteès c¢nlinue to adopt the going concern basis in the preparation of the accounts. Ibl Incomè Rè¢ognl¢lon Incom8 1$ recognised once the charity has enlitlemenl to the in¢om•, It 1$ probable that the incom8 wll bg rg¢?Ived and the arnounl ¢1 in¢omè receivabl¥ Can be measured reliably Donallons are re¢ognised when they arts re¢eived. 1¢) Expendllure Recognltlon Liabilities are recognised as expenditure as soon as ther8 is a legal or constructive obligation comrnilling the ¢h8rily to that expenditur6. 11 Is probable that settlement will be required and th& amount of the obligation ¢an be measured reliably. Al expenditure is a¢¢ounted for on an accrua15 basi5 Idl Tanglble flxèd assets and depr•¢latlon Depreciation is provided al rate5 calculated lo write off the cost or valuation less residual value of each asset over its expected useful life as lollow$'. Grounds equipment Fixtures and fittings 10Q/o reducing balance 10¢/0 r6ducing balanc• 2. GAINS I LOSSES ON INVESTMENTS 2025 Revaluation of investments IL05s1198in on sale of Investments 52.287 10.511 111.6511 62.798 111.6661
WALLYFORD MINERS CHARITABLE SOCIETY NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025 Grounds Fixtures and Total 3. TANGIBLE FIXED ASSETS Co Al 1 February 2024 Additions 30,977 409.397 440,374 Al 31 January 2025 30,977 409,397 440.374 De Al 1 February 2024 Charge for the year Al 31 January 2025 18.508 1,247 263.917 14,548 282,425 15.795 19,75S 278,465 298.220 Nel Book Val At 31 January 2025 11.222 130.932 142,154 At 31 January 2024 12.469 145.480 157,949 4. FIXED ASSET INVESTMENTS Investments Cost or valuation 697.735 603,952 S. DEBTORS Other debtors Owed by Wallyford Miners Wèlfare So¢iely and Social Club 400 59,952 72.965 59,952 73,365 6. CREDITORS.. Amounts fallln due wlthin one ear A¢crua15 1,573 1,498