GLENROTHES MINERS CHARITABLE SOCIETY STATEMENTS OF ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2025 SCOTTISH CHARITY REFERENCE SC019119
GLENROTHES MINERS CHARITABLE SOCIETY INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 GONTENTS PAGE LEGAL AND ADMINISTRATIVE INDEPENDENT EYAMINERS REPORT STATEMENT OF FINANCLAL ACTMTIES &4LANCE SHEET NOTES TOTHE FINANcL STATEMENTS REPORT OF THE TRUSTEES
GLENROTHES IIIINERS CHARITABLE SOCIETY LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JANUARY 2025 ADDRESS &)uth Street Glenrothes Fife KY7 5NL TRUSTEES INDEPENDENT EXAMINER CISWO (Trading) Ltd The Old Rectory Rectory Drive Whlston Rotherham S60 4JG BANKER3 Bank of SwUarKI 9 Falkland Gate Glenrothes KY7 5LW CHARITY REFERENCE SC019119 Page 1
GLENROTHES MINERS CHARITABLE SOCIETY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2025 I reportto th8trustsqs arml mterS01GnrQItt•$ Mner8 Charitable SrAety (Reglstwed Charfty Numb•r SC019119) thg x¢oty for Ihe seafended 31 janu 2025 8$ S•t out cn pages 3to 6. The ¢hariV$ trustees are reSpMs1b f¢y lh& preparalion of tha accowts in M?rdan¢e wtth the 18rnis of thg Charlll8s and Trustee Investment Iswvandl kt 25 ond thè Charllte$ A¢counts IScolaTrJl R89ulattons 20C6 las amendajl. Tr charty trv$bo$ ¢sider1h tha audlt requirornonlon Rggulal 10(11 lal to Icl olthe Accounts RegLlations does not apuy. 11 1$ my resSb1 Ihty 10 8xam¥i8 the awunb as roquired under seron 4411Mcl oltheA( and to sfatewh8th¢r partslar matters ha come to my attenbon. Bas15 of i nl examination is carried out n acccfdarice vath Reoulauon 11 of th8 20ce Accounts Regulalons. An examinati¢n includ85 8 revlowolthe accounling records kept by the charity d a c¢rnpari50n of the 8ccount8 presenbd %%ith Ihosg re¢ords. 110130 indudos considefabon ol any unu$u81 item8 orJdc6urng in thè accounts gThJ se$ axplanatkns tre bugtae8 ¢orKeminy any Sh rnatters. The pro¢edtsias und¢rt¥n do not provth all Ihe 8vldgr£• Ihathfj be r8qulr¢d n an ¢onsequ8nlly I do not exprgss an aLKIII opinK)Tr C Ihe accwnts. In c?ufse ttf rny exa[natt0rb, Tro natter ha8 cc¢nett> my attenOn {1} gives mo r•asonabb cause to belieby thatin rnalia1 respectthe requlrfrmonts.. tr) P attnuntwig re¢grd¥ In oc¢ordanM YAth aeclcn 4411llal of lh• 200$ knt •nd Regulation 4 of th¢ 20C6 Ac¢ount¥ Regul8lonJ, •nd l) pr8par• attounts ¥thich 8¢xord wlh the aLvJvnluig and CLJmFty with Rogulaoon 8 of tho 20C6 Accounis Reguiahon$ ha¥e not beén rn8t', c 12) to ¥thi¢, In my opiffllon. attentionshould be drWI in orderbj a properunderstsThng of thgaccQts to be reacn&J. 23 Marth 2025 ra In Thg OITJ eOry Re¢iory On Whtst Roitrtsrtwm S60 4JG Pw2
GLENROTHES MINERS CPIARITABLE SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025 2028 2024 INCOMING RESOURCES 0upatiOnal kn'cenco Grft.AKI Covenant 20,21Y) 1,391 20,2Q) Totd r•ee(ots from G18rlS Rocr68Uon Contr$ & Social Club 21,591 26,744 Subscripti8 Snooker H811 and kItth rental¥ Donations $nd other income Intsrest 1njrne generated lhfjh Soryal and Sporting sectsons Totsl Ineom• 11.092 13.348 8.189 2,819 369 43.917 13,922 11,277 9.038 1.002 50.705 101,325 112,932 USE OF RESOURCE8 Rates, water and Insuran Repairs. rnaintenance and lea3es Accountancy Fees Honoraria Printing, stationery. al, software and othw costs Depreriab'on 17,258 13.953 1,598 1,750 3,410 4,109 17,871 15,149 1,521 2.2tJJ 3,458 42,078 44,29S commun. spoffjftgand81éCbv1b&S Minibusa$, trips. motor Sporling auivits.es Community donations Darts sponsorship and support Shows, diseLJs, artistes, iThJoor games and catsrir 1,530 1,420 5.317 67.496 1,785 3,025 79,285 Total Expendlturg 1121.8911 11345401 NET IAOVEME1 IN FUNDS 20.566 RECONCILIATION OF FUNDS STATEMENT Fund¥ br¢xJght rorwa Nel (Deficit) for the spar 377,793 120,5661 400,401 122,6081 Fund8 ¢afflod fon¥ard 357.2ZI 371,793 Pagè 3
GLENROTHES MINERS CHARITA8Le SCCIETY &4LAN¢E SHEET FOR THE YEAR eNDeD31 JANUARY 2025 2020 2024 FIXÉD ASSET3 366,037 CURRENT AS$ET8 Debtors Bank of Scotland Curygnl Aceount Bank of Scotland . Savings Actounl Cash floats 1,523 4,349 31.791 1,2(NJ 2.309 31.422 1.2tsJ 36,616 GURRENT UABILMES Cr¢dltor 47.873 17,729 47,673 17.729 NET CURRENT IUA8ILrriÉsii AssErs 18,8101 18.887 TOTAL ASSETS LESS CURRENI LIABILITIES 357,227 377.793 NET ASSETS 357,227 37T.793 Flnan¢¢d ty: Unre4tr1Gted funil• 357.227 JT7,793 TOTAL FUNDS 357.227 377 793 W• approve Ih9$9 S•t¢mgnls olknountf¢rlh4 year •nd¢d 31 January 2fj and confinn thatMhav8 made availabf8 all rokvant rocuds and inlomatn for ther preparaton. Approv¥d by th• Tr1*8$ and syn•d on th•ir b•holf by 23 Mar¢h 2025 Pagè 4
GLENROTHES MINERS CHARITABLE SOCIErY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 202$ NOTE 1 ACCOUNTING POLICES lal Bash of Pfepar4don and a$$e88m•nt olgolng ¢on¢em The finangal ¥taternents have teen prepared under the historral ojst ¢onvention items recogni50d al cost ortransaetion value unless OtheSe slated in the relevant notes to these acrnunls The fin8noal statements have been prepared in aCC4rdan wlh the Ststernent of Recnmended Practicè. AcoJuntir¥J and Reporting by Charities weparing their ac£tsJrts Sn accordan th the Finandal Reportin9 Standard aFpts"Cab in the UK and Rewblic ol Ireland IFRS 1021 ISSU on 16 July 2014 and the Financial Repcrfting Standard aPpIable in the Un Klngdorn and Rèpublic of Ireland IFRS 102}, the Charitie5 aad Trustoe Investrnt (SC14dI Act 2005 and the Charities AcKount8 IS¢otl8ndl Re9ulatK)ns 2006183 arnendedl. The tru81ees ¢on5ider that there are no matelial uncertaintR¥ about the Twsf ¥ atity to ¢oniintsè as a gng conL¥m. The tru$t8és hav8 a reasonable exctatIon that thè Trust h 8thquale 88ryeS to continue in operauonal existen lor the foreseeable futUTe. Accordingly, the trujlees eontlnue lo adcpt the going concern basis in the pryaralion of the aceèunts. Ibl Income RQgnIon Incemè is recogntsed onc• th• ftharrty has eftlrfementto IncoTh, it is pyobable that the incjxne ill be received and the 8mWt of Inc can be rneasured r8hably. Donations Are vth8n they ar• r•thvéd. lel Emnd[lu[g RKo9nlUon Liabilitie5 are r8eL¥Jnlsed a5 expendilurn as ¥oon 8$ ttte is a legal or constructNe obllgatbn coffmith"ThJ the charity to that expendrture. it is probable that Seement hill be qued 8nd the amount of the cOlvJatron be measureil rellaY All exptrtdilure Is accounted fDr on Sn afrjaI$ b8S1S. Idl Tanglts Ilxed as•ts and doprnclatlon Deweciabon is provided at rates calculated ¢0 te Ihe cost or Valuation less re$bJual value of each assèt over its expected usgful Ilfé as follaw5'. Sundry ¢qu¥)m8nt 20% stra•1 linè Page 5
GLENROTHES MINERS CHARITA8LE SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 NOTE 2 TANGIBLE FIXED ASSETS Land & Flxtur•g & Bulldlng9 Equlprn•nt Total COST At 1 Febnjary 2024 Additions Disposals At 31 January 2025 351.977 212,644 11,240 W.821 11,240 351,977 223,884 575.861 DEPRECIATION At f February 2024 On disposals Charge for the year 205,715 20S.715 4,109 4.109 At 31 January 2025 209.824 209,824 NET BOOK VALUE At 31 January 2025 14.060 At 31 January 2024 351.977 8,929 B,9C 2028 2024 NOTE 3 DEBTORS Accoun1$ 1vabl? Prepayments D•btors. VAT repayabl8 11 540 829 1.145 1.523 1,685 NOTE 4 CREDITORS Accruals VAT payable Due io Glenroth89 Rou8ab"cffj Centro & Sod81 Cl 1,S98 14,532 31,543 1,521 7.938 8.270 47,673 17,729 NOTE S EMPLOIEE COSTS Th8 CharbtabP8 Soci8ty @mOYS no st8ff. Any employ80 costs inwr8d are shwi in the aecounts for Gkrynrothas R8creats"on Cantre and Social Club. Page 6
LENR INE The Iruslees present Iheir annual report and financial slatethts ol the chanty for Ihe year ended 31 January 2025 The finanrAal slatefflents have IxeTh prepwed in accordance wth the accounting polic9 sel ¢Jut in Noto 1 to the accwnts and cornply wilh the charitys trust deed. the Charittes Trusteo Invesirnenl Iscouandl Act 2005. the Ch8ritK8¥ Acix)unts IScod8ndl Regulation5 21x16 las amend8dl and AttounliThJ and Reporting by Ch8rits'es.' Statement of Recomrnended Practi applicable to charities preparirrfJ their accounts in accordance ilh the Finanryal Reportirg Standard aptyi¢able in the UK and Reputsic ol Ireland published on f6 July 2014. Gnrothe$ Miners Charitsble Society Ithe Charity) registered with the Offic8 ofthe &cltish Charity Regulator under the number SC019119. The Charity 1$ managed by a Board ol Trusteey. The Trvsteos are the office hofder5 of the Charity IPre5idgn( VirA-PSKIenl, Seuetsry and TreaSUrI whose names are Sh on page 1. charrty is respSitO for maintaning th• premise5 and Its cefit£nls 9round$ In a suitable state of repalr for us• by thos8 who IN• in tha surrounding ar•a. It r0158s inccnè through v81ious th?ritable, sporb.ng and soclal actrtIes for local residents and from hiring out its lacililies to thè genoial puuic, but a substantsal amount of rts income comes trom its conn8ct8d social dub, Glenrothes Re¢r•atn Centr8 aThJ Social Club. ieh pays an amud occupational licence fee to th8 charity in order to run its businèss from the chantys Premises. In addition to this. the Club aL80 transfeis any profits it makes to Ihe charity under a Gift ANJ agre8ment so the tnjstees work dos8ly the Club's offiaals to try and ensure th& Club is profitsble, thus ensurSng extra irwme fur the charity. The objects ol the charity to provide facilitss for Such forms of recreation and other leisure bme OCpatron in ¢xder to improve the conditions of Ilvlng ol the inhabitants of Glenrothes and iho surrouThJing n8vJhbourh)od. parculadY (but not exclvsNelyl those are mernbers of the o)al rnining community. Tha charmy has tst¥d W another th3118nglng year. HO¥$r, thè trust88s ha¥0 remainad ecffimfttad to assisits.ng loc418uthortts"•s by Iding affordaIe h811 rentsl for Ihair m•8tings. Thgir dedreat.on to seNiro thè communty has rtotwavered they hAv8 workèd diligènuy lo ¥ns¢Jre that the faulits arg awslbK8 tor various gatherings and groups. ThIghout this year. thg ¢h?rity has continued to extend its 8UPPOrt to other local carities by fac4italing the u8e ol the venue for frJndrai5ing events. This initiative has allo Ihe trustse5 to contrbule positively to the comrnunity whik 815ts fosterin9 a spirit gf collaboration among thal or9anisatn9. Tr efforts have been instnjmgntal in prcffjolTrrtJ Charitsble actiwb'es that benefit those in negJ. In addloon to its thoritatle endeavours, the Soa"èty h89 consist8nty supported Its su&sedons whlch Incl Snooker. Golf and Oarts. The trustees ha¥8 organised various social èvènts for Ihe members, creating oppothrtitiss for8ngagaMt and Cerade[la. These actMtYdS not only enhal) thè expari•nce olmemirs but algo strèngthgn th8 bonds wthin tha community. ansuring the charity ramains a wtal part of tha local landscap9. Fin lal R•vl•w Th• charity had nèt axpandibjo 01 £20,566 Icf thè yèar. a modèst imKyernent on Ihè £22,608 nèt yndire last ygar. Th&se rgsults may appaardisappointing but trust•8s have made thg n$¢i0U$ d8Ci5ion that provklln9 a good sam bmthin Ihe cemmunty shouK1 t1r In knOWg thatthg charfty has ffi¢nt rgseN¥¥ to absorb a dgfi¢f(su¢h as Ih*. Pag8 7
ROTHE8 M E80C EPORT OF T SFIJR ThE EAR ENDED UARY 202 co TIWED 1•nI Polc rhe Gharity does not have an inwlment pjliw as the tharity doe¥ Th)t hokl ¥ufficÈntfund¥ to consider ony sort f hvestrnenl at this time. The trust wll continup to Mrt0r thi$ sftuat)n and m8k8 changes accordingly. The truètsès afe awar0 01th8 DratIOnal and ffnancial risks which th8 thanty fac08 and r•gularty r8vi8ws Ihty$8 ri5k8 to mth'gal8 against any impact they may hav8 on tha charity. Th8 major ri8k8 fas the charity art the eontinued success ol th• eonrnod4d Socral dub fforn whith it deiivaa itgman funthro, lh8 SUPP)rt DI indriiduAIs and th8 community in using the fatsfitias and th8 introduction of the yOUDger lation to p¥0• lor th• lulur•. The trustee% WDrk c4088fy wih thè eornmitt8e and rnernbgrs to address th8sè ftsk8. It is the polry of the ISte$S to maintain unr8slricta funds 8re thè free res8rv8s ol thaiity 8t B t prowdè sulfitient lunds to cover antupatad pAministratx>n and support rA)Sts for a riod of h%Elv• months Any additieA)al rèsér arÈ hdd to pravhY& 8 c4itsl fijnd for repasrs thatwillb8 required for thè upkèÉp ofthè prtrmi. fTr Law applicatrle to ¢hanties in Scotland requires the tharity Iw$lee5 lo prere fin8naal 518lemenl$ for each fin8wal warwhich give 8 trL 8nd fairview ¢1 the state of affairs of the ch8rity aTrJ of th8 inwniTrJ resourc and appli¢ation of feSOur ol Ihe tharityforthal wrtod. In preparing the finanual Slatts the trustees ar8 requlred to.. 3elEGt 3Uit&)le ar£ountin9 p(4ities asxI tlen apply them consi8tendy.' observe the meth)d$ and princi¢8 in Ch•ritie8 SORP.. jud9em¢nts and esknatss thalare aonble ond prud¢nt', 81ate whethar applicable ottountl9 St8r,dard3 hawg lollowe(I, to any m8t?rfal d?partvre$ i¥dosed explain¢d in th¢ finanGwl st•tem•nts', - prpa the finantiol statgmenis on tho goirg besis unb88 it Li inappropriote to PrUma Ihatth8 ¢hafty will continu8 in bu8in88S. The trusts8s arg spOnSible for ka8ng wcpr accourtkng ordS that discf0s9 wlth reasonab accuracy at any14rne tha finc¥al posiliw of th&charity and to enatle them lo ertsure that thg finsncial statements compw th the Chanty and Trustee Investrneni l&olandl Act 2005. the Charity A¢counls IS¢olandl R8gulats'ons 2006 las amen¢Jedl and the prowlsicS of tha tr1 ¢eed. They are alsu spOnSibl¥ for $afvguarding the as$fyl$ ollhe chanty and tthirg rgasonabk steps forthe preVentiC detln of fraud and olher i1regularil. Appro¥od by the tntst88s and sign8d on thèir beh•lf by. Page 8