**COMPANY REGISTRATION NUMBER: SC141101 CHARITY REGISTRATION NUMBER: SC021293** ## **THE KEITH & DISTRICT SPORTS TRUST Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS 30 NOVEMBER 2025** **RITSONS** Chartered accountants 26-30 Marine Place Buckie Moray AB56 1UT ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 30 NOVEMBER 2025** ||**PAGE**| |---|---| |Trustees' annual report (incorporating the director's report)|**1**| |Independent examiner's report to the trustees|**4**| |Statement of financial activities (including income and|| |expenditure account)|**5**| |Statement of financial position|**6**| |Notes to the financial statements|**7**| |**The following pages do not form part of the financial statements**|| |Detailed statement of financial activities|**14**| |Notes to the detailed statement of financial activities|**15**| ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)** ## **YEAR ENDED 30 NOVEMBER 2025** The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 November 2025. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered charity name** The Keith & District Sports Trust **Charity registration number** SC021293 **Company registration number** SC141101 **Principal office and registered** Suite A **office** Ground Floor 9 Queens Road Aberdeen AB15 4YL Scotland **THE TRUSTEES** Laura Simmers - Chairperson Edward J Watt Henry W Kelman Gordon M Davidson George E Simmers Tina Patricia Anne Murphy - Treasurer Robert Martin (Appointed 1 December 2024) **Company secretary** Tina Patricia Anne Murphy **Independent examiner** Ritsons 26-30 Marine Place Buckie Moray AB56 1UT ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Trustee recruitment and appointment** The trust seeks to appoint trustees with traditional business or sports skills. ## **Governing document** The trust is governed by its memorandum and articles. **- 1 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** **TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)** _**(continued)**_ ## **YEAR ENDED 30 NOVEMBER 2025** ## **OBJECTIVES AND ACTIVITIES** ## **Charitable Purposes** The trust's objects and principal activities are to manage the sports stadium and ground at Simpson Park, Keith for the benefit of the local community. ## **Summary of the main activities in relation to these objects** During the year, the facilities have been made available and used regularly by Islavale Junior Football Club. The Ugie House Hotel team 'the Yellas' also regularly use the facility. Keith & District Sports Development continue to use the facility throughout the year and the park daily in the summer months along with the four groups of Keith Football Club Youth who also train and play their home games at the facility. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Summary of the main achievements of the charity during the financial period** We have increased the income from pitch side advertising, reduced expenditure on electricity with a cheaper supply contract, levelled out income by having user group's pay a fixed monthly hire fee and increased income from electricity tokens. Significant improvements have been made to the drainage on pitch one. A new defibrillator has been installed. Various improvements have been made within the pavilion with some new windows, improved kitchen equipment and a freshly decorated and recarpeted meeting room. New volunteers have joined and there is regularly joint working across the various user groups. The Quiz Night fund raiser was really well supported by all user groups. ## **FINANCIAL REVIEW** The net deficit for the year amounted to £664 (2024: £13,408) which, of course, includes depreciation charges of £ 9,451 (2024: £9,436). ## **PLANS FOR FUTURE PERIODS** We are currently looking into making the facility more economical to run and the possibility of installing solar panels. We have a funding application in for new exterior doors. We have set up a steering group with members from all user groups and look forward to taking the facility forward with their valuable input. **- 2 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** **TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)** _**(continued)**_ ## **YEAR ENDED 30 NOVEMBER 2025** ## **SMALL COMPANY PROVISIONS** This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees' annual report was approved on 25 March 2026 and signed on behalf of the board of trustees by: _Laura Simmers Tina Murphy_ Laura Simmers - Chairperson Director Tina Patricia Anne Murphy - Treasurer Director **- 3 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KEITH & DISTRICT SPORTS TRUST** ## **YEAR ENDED 30 NOVEMBER 2025** I report on the financial statements for the year ended 30 November 2025, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes. ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** The charity's trustees (who are also the directors of the company for the purposes of company law) 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. Aileen Haslam, CA Independent Examiner _Aileen Haslam_ Independent Examiner 26-30 Marine Place Buckie Moray AB56 1UT 22 April 2026 **- 4 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## **YEAR ENDED 30 NOVEMBER 2025** ||||**2025**||2024| |---|---|---|---|---|---| |||Unrestricted|Restricted||| |||funds|funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|**£**|£| |**Income and endowments**|||||| |Donations and legacies|**5**|6,570|3,000|**9,570**|285| |Charitable activities|**6**|15,771|–|**15,771**|7,863| |Other trading activities|**7**|857|–|**857**|–| |Other income|**8**|724|–|**724**|–| |||----------------------------|-----------------------|----------------------------|-----------------------| |**Total income**||23,922|3,000|**26,922**|8,148| |||============================|=======================|============================|=======================| |**Expenditure**|||||| |Expenditure on charitable activities|**9**|27,586|–|**27,586**|21,556| |||----------------------------|-----------------------|----------------------------|----------------------------| |**Total expenditure**||27,586|–|**27,586**|21,556| |||============================|=======================|============================|============================| |||----------------------------|-----------------------|----------------------------|----------------------------| |**Net expenditure**||(3,664)|3,000|**(664)**|(13,408)| |||============================|=======================|============================|============================| |Transfers between funds||44,786|(44,786)|**–**|–| |||----------------------------|----------------------------|----------------------------|----------------------------| |**Net movement in funds**||41,122|(41,786)|**(664)**|(13,408)| |**Reconciliation of funds**|||||| |Total funds brought forward||(49,825)|42,636|**(7,189)**|6,219| |||----------------------------|----------------------------|----------------------------|----------------------------| |**Total funds carried forward**||(8,703)
============================|850
============================|**(7,853)**
============================|(7,189)
============================| 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 7 to 12 form part of these financial statements.** **- 5 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **STATEMENT OF FINANCIAL POSITION** ## **30 NOVEMBER 2025** |**30 NOVEMBER 2025**|||| |---|---|---|---| |||**2025**|2024| ||**Note**|**£**|£| |**FIXED ASSETS**|||| |Tangible fixed assets|**14**|**178,840**|184,835| |**CURRENT ASSETS**|||| |Cash at bank and in hand||**19,782**|14,451| |**CREDITORS: amounts falling due within one year**|**15**|**475**|475| |||----------------------------|----------------------------| |**NET CURRENT ASSETS**||**19,307**|13,976| |||--------------------------------|--------------------------------| |**TOTAL ASSETS LESS CURRENT LIABILITIES**||**198,147**|198,811| |**CREDITORS: amounts falling due after more than one year**|**16**|**206,000**|206,000| |||--------------------------------|--------------------------------| |**NET LIABILITIES**||**(7,853)**|(7,189)| |||================================|================================| |**FUNDS OF THE CHARITY**|||| |Restricted funds||**850**|42,636| |Unrestricted funds||**(8,703)**|(49,825)| |||-----------------------|----------------------------| |**Total charity funds**|**17**|**(7,853)**
=======================|(7,189)
============================| For the year ending 30 November 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. These financial statements were approved by the board of trustees and authorised for issue on 25 March 2026, and are signed on behalf of the board by: ## _Laura Simmers_ Laura Simmers - Chairperson Director **The notes on pages 7 to 12 form part of these financial statements.** **- 6 -** **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 NOVEMBER 2025** ## **1. GENERAL INFORMATION** The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is Suite A, Ground Floor, 9 Queens Road, Aberdeen, AB15 4YL, Scotland. ## **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 Companies Act 2006. ## **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 and expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **GOING CONCERN** Despite the deficit position on the statement of financial position and the negative balance on unrestricted funds, the trustees are confident that the charity can still continue to trade as a going concern. Relevant planning has been put in place for increased income generation moving forward and the charity has the support of the local community. The trustees regularly review the position regarding this at their board meetings. The deficit on the balance sheet is due to a large loan amount for which no repayment terms have currently been set. ## **FUND ACCOUNTING** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values. Designated funds are unrestricted funds earmarked by the trustees for specific purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor. **- 7 -** **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 30 NOVEMBER 2025** ## **3. ACCOUNTING POLICIES** _**(continued)**_ ## **INCOMING RESOURCES** All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: - Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. - Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. - Investment income is included when receivable. - Income from charitable trading activity is accounted for when earned. - Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. ## **RESOURCES EXPENDED** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: - Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes. - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. - 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 between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts. ## **TANGIBLE ASSETS** Tangible assets are initially recorded at cost. **- 8 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 30 NOVEMBER 2025** ## **3. ACCOUNTING POLICIES** _**(continued)**_ ## **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: Freehold Property - 2% straight line Equipment - 15% reducing balance ## **4. LIMITED BY GUARANTEE** The company is limited by guarantee. ## **5. DONATIONS AND LEGACIES** |||Unrestricted|Restricted|**Total Funds**| |---|---|---|---|---| |||Funds|Funds|**2025**| |||£|£|**£**| |**DONATIONS**||||| |Simpson Trust||6,350|–|**6,350**| |Donations||220|–|**220**| |**SPONSORSHIP**||||| |Wood Foundation||–|3,000|**3,000**| |||-----------------------|-----------------------|-----------------------| |||6,570|3,000|**9,570**| |||=======================|=======================|=======================| |||Unrestricted|Restricted|Total Funds| |||Funds|Funds|2024| |||£|£|£| |**DONATIONS**||||| |Simpson Trust||–|–|–| |Donations||285|–|285| |**SPONSORSHIP**||||| |Wood Foundation||–|–|–| |||--------------|--------------|--------------| |||285|–|285| |||==============|==============|==============| |**CHARITABLE ACTIVITIES**||||| ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| ||Funds|**2025**|Funds|2024| ||£|**£**|£|£| |Sale of tokens|1,116|**1,116**|443|443| |Rental income|8,920|**8,920**|5,420|5,420| |Advertising income|5,735|**5,735**|2,000|2,000| ||----------------------------|----------------------------|-----------------------|-----------------------| ||15,771|**15,771**|7,863|7,863| ||============================|============================|=======================|=======================| ## **6. CHARITABLE ACTIVITIES** **- 9 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 30 NOVEMBER 2025** ## **7. OTHER TRADING ACTIVITIES** |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---|---| |||Funds|**2025**|Funds|2024| |||£|**£**|£|£| ||Quiz night|857|**857**|–|–| |||==============|==============|==============|==============| |**8.**|**OTHER INCOME**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2025**|Funds|2024| |||£|**£**|£|£| ||Water rates refund|724|**724**|–|–| |||==============|==============|==============|==============| ## **9. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE** ||Activities|||| |---|---|---|---|---| ||undertaken|Support|**Total funds**|Total fund| ||directly|costs|**2025**|2024| ||£|£|**£**|£| |Core activities|27,009|–|**27,009**|21,012| |Governance costs|–|577|**577**|544| ||----------------------------|--------------|----------------------------|----------------------------| ||27,009
============================|577
==============|**27,586**
============================|21,556
============================| ## **10. NET EXPENDITURE** Net expenditure is stated after charging/(crediting): Depreciation of tangible fixed assets |**2025**|2024| |---|---| |**£**|£| |**9,451**
=======================|9,436
=======================| ## **11. STAFF COSTS** No salaries or wages have been paid to employees, including the members of the committee, during the year. ## **12. TRUSTEE REMUNERATION AND EXPENSES** The trustees did not receive any remuneration and were not reimbursed for any expenses. ## **13. TRANSFERS BETWEEN FUNDS** During the year a review of the restricted fund position has been undertaken in relation to balances carried forward from fixed asset purchases. The trustees are satisfied that all conditions have been met in line with the relevant funding agreement with the appropriate assets purchased. An amount of £44,786 has been transferred from restricted funds into unrestricted funds in relation to funding for which all restrictions have been satisfied with the relevant assets having been purchased at the time. **- 10 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 30 NOVEMBER 2025** ## **14. TANGIBLE FIXED ASSETS** |||||Freehold||| |---|---|---|---|---|---|---| |||||Property|Equipment|**Total**| |||||£|£|**£**| ||**Cost**|||||| ||At 1 December 2024|||302,318|58,118|**360,436**| ||Additions|||–|3,456|**3,456**| |||||--------------------------------|----------------------------|--------------------------------| ||**At 30 November 2025**|||302,318|61,574|**363,892**| |||||================================|============================|================================| ||**Depreciation**|||||| ||At 1 December 2024|||136,697|38,904|**175,601**| ||Charge for the year|||6,047|3,404|**9,451**| |||||--------------------------------|----------------------------|--------------------------------| ||**At 30 November 2025**|||142,744|42,308|**185,052**| |||||================================|============================|================================| ||**Carrying amount**|||||| ||**At 30 November 2025**|||159,574|19,266|**178,840**| |||||================================|============================|================================| ||At 30 November 2024|||165,621|19,214|184,835| |||||================================|============================|================================| |**15.**|**CREDITORS:** **amounts**|**falling due within one year**||||| ||||||**2025**|2024| ||||||**£**|£| ||Accruals and deferred income||||**475**|475| ||||||==============|==============| |**16.**|**CREDITORS:** **amounts**|**falling due after more than**||**one year**||| ||||||**2025**|2024| ||||||**£**|£| ||Other long-term loans||||**206,000**|206,000| ||||||================================|================================| |**17.**|**ANALYSIS OF CHARITABLE FUNDS**|||||| ||**Unrestricted funds**|||||| |||At||||**At**| |||1 December||||**30 Novembe**| |||2024|Income|Expenditure|Transfers|**r 2025**| |||£|£|£|£|**£**| ||General Funds|(49,825)|23,922|(27,586)|44,786|**(8,703)**| |||============================|============================|============================|============================|=======================| |||At||||At| |||1 December||||30 November| |||2023|Income|Expenditure|Transfers|2024| |||£|£|£|£|£| ||General Funds|(38,952)
============================|8,148
=======================|(21,556)
============================|2,535
=======================|(49,825)
============================| **- 11 -** ## **THE KEITH & DISTRICT SPORTS TRUST** ## **COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 30 NOVEMBER 2025** ## **17. ANALYSIS OF CHARITABLE FUNDS** _**(continued)**_ ## **Restricted funds** |**Restricted funds**|||||| |---|---|---|---|---|---| ||At||||**At**| ||1 December||||**30 Novembe**| ||2024|Income|Expenditure|Transfers|**r 2025**| ||£|£|£|£|**£**| |Fixed Asset Fund|41,942|3,000|–|(44,092)|**850**| |Field Improvement|||||| |Grant|694|–|–|(694)|**–**| ||----------------------------|-----------------------|--------------|----------------------------|--------------| ||42,636|3,000|–|(44,786)|**850**| ||============================|=======================|==============|============================|==============| ||At||||At| ||1 December||||30 November| ||2023|Income|Expenditure|Transfers|2024| ||£|£|£|£|£| |Fixed Asset Fund|44,354|–|–|(2,412)|41,942| |Field Improvement|||||| |Grant|817|–|–|(123)|694| ||----------------------------|--------------|--------------|-----------------------|----------------------------| ||45,171
============================|–
==============|–
==============|(2,535)
=======================|42,636
============================| ## **18. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ||Unrestricted|Restricted|**Total Funds**| |---|---|---|---| ||Funds|Funds|**2025**| ||£|£|**£**| |Tangible fixed assets|178,840|–|**178,840**| |Current assets|18,932|850|**19,782**| |Creditors less than 1 year|(475)|–|**(475)**| |Creditors greater than 1 year|(206,000)|–|**(206,000)**| ||--------------------------------|--------------|--------------------------------| |**Net liabilities**|(8,703)|850|**(7,853)**| ||================================|==============|================================| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2024| ||£|£|£| |Tangible fixed assets|147,508|37,327|184,835| |Current assets|9,143|5,309|14,452| |Creditors less than 1 year|(475)|–|(475)| |Creditors greater than 1 year|(206,000)|–|(206,000)| ||--------------------------------|----------------------------|--------------------------------| |**Net liabilities**|(49,824)|42,636|(7,188)| ||================================|============================|================================| **- 12 -**