OUT OF SCHOOL CLUB- LAURENCEKIRK CHARITY NUMBER: SC024515 RECEIPTS & PAYMENTS FOR THE YEAR ENDED 8TH FEBUARY 2025 INCOME Fees Refunds/Misc. Fund Raising Donations Bank Interest 2024125 2023124 167Jf68 148348 124 1040 450 424 150386 19220 -124 -669 430 -89 17908 370 20 335 168293 EXPENDITURE Wages & pensions Tuck Shop & Snacks Aberdeen council Letting fees Staff Uniform & welfare Book Keeping & Accountant Telephone Insurance Crafts & Toys Stationary & Postage & Disclosures Staff Vouchers/Gifts IT & Internet Holidays & activities Cleaning & Safety Advertising Training Pat Testing Sundry expenses Repairs Bank charges Total Payments 146353 4138 21094 371 1237 612 1124 3023 133867 4942 14392 210 1146 697 1088 4082 260 210 976 1097 692 282 3834 12486 -803 6703 162 91 -85 35 -1059 -260 -102 -90 -1097 498 -277 -1876 75 428 420 57 13452 108 886 193 1958 75 41 420 57 181694 469 168242 Surplus/(deficit) for the year -13401 Balances Bank Balance B/f Income Expenses Balance C/F 39915 168293 -181694 26514 Closing bank balance as at 28th February 2025 Closing bank balance as at 28th February 2025 19488 7026 26514 The charity adivities is an Out of School Club Independent Examinerfs Report to the Trustees of Out of School Club Laurencekirk I report on the accounts of the charity for the year ended 28th February 2025 The charitls trustees are responsible for the preparation of the accounts in accordance with the terms of the Charits'es 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 Accounts Regulations does not apply It Is my responsibilily to examine the accounts as requlred under section 44(1) (c) of the Act and to state whether parbcular matters have come lo my attention My examination is carried out iii accordaiice willi Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of tlie accounting records kept by the cliarity and a comparison of the accqunts presented with those records It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations froin tlie truslees conceriiing any sucli niatlers. Tlie procedures undertaken do not provide all the evidence tliat WOLild be required In an audit, and conseqLiently I do not express an audit opinion on tlie view given by the accounts, In the course of m exanilnation these matters Iiave coiiie to 111 alleiilloii:. 21 The charity made a loss for tlie s'ear again Tliougli Ilie loss Is lower tlian the last year by £456 31 The club niade a loss of £13401 agalnst last year loss of 17857 51 Wages & pension payiiients are hlglier coiiipared lo 2024 61 Paye due for tlie year to 291212J is up to dale willi HMRC This year's accouiitaiils Fee for tlie cUr￿nt year of £650, is not Included in the above expenses Goin forward I would advise tlie followin These accounts shoulc, be presented to the committpe mpmhers at the next AGM COMMITTII MEMBERS ()II'I' ()1,- 5C:IIOOL CI.IJ13- 1.AURI,:NCTr:KIRK IILCI4 11)TS & PAYMENTS FOII THE4 YfAR TO I'ii 28 FEBUARY 2025 Charit No SC024515 C'A,6i,4* N ('() l."I'l) 111 MAI,I,I)AIIK 11()AI) M()N'l'll(),(iTr: i)l)l(l NN, 8❹[th] .October.868❶ ## **AGM Chair Update** Period¿ September 2024-Septemebr 2025 Good evening, everyone, and thank you for attending. one that has proven the resilience of our club and our team. The most significant operational event was, of course, our move to the new premises. This move was not optional; it was a necessary step as the reduced space available to us at the school had limited the number of children we could care for. This directly impacted our revenue and, frankly, threatened the long-term financial stability of the club. I am pleased to report that the move was handled extremely well. The committee and staff conducted a thorough assessment of the risks involved and ensured all suitable mitigations were in place to manage the transition smoothly. While the move was successful, it did come with substantial costs and caused a temporary disruption to both our revenue and the use of the club. This, combined with external economic pressures, created a very challenging financial year. We, like all employers, were impacted by the National Minimum Wage increase announced in the November budget. This, along with general inflation affecting all our costs, forced us to make the uncomfortable but necessary decision to raise our prices by 5% to 9%. We have made, and continue to make, active efforts to reduce costs wherever possible. However, as a not-for-profit entity, we must ensure we are financially viable. We are now beginning to see some positive signs of a more stable financial position, but the strict financial controls we have implemented will have to remain to ensure the club's future. Any future adjustments to rates will be reviewed on a yearly basis, with the sole aim of maintaining viability, not generating profit. This year also saw important changes in our leadership. Towards the end of the year, we . This transition was handled managed a staff handover from our manager, exceptionally well, with the children's safety and continuity of care prioritized at every step. We would like to extend a huge and heartfelt thank you to for the contribution she gave this club and for building the solid foundation we now sit on, which allows us to progress further. There have also been changes to the committee. I have taken on the role of Chair, has become our Treasurer, and has also joined us. With these new appointments, we must offer our immense gratitude to for the massive efforts they have put in and the support they have provided. The fact that this club currently exists, especially when many other similar clubs have failed, is a direct testament to their hard work and the great service they have done for our community. 8❹[th] .October.868❶ Amidst all this change, our core mission has remained our focus. I am incredibly proud to report that we had an inspection from the Care Inspectorate in January, and we received a 'Good' rating across the board. This result is essential, as it provides external validation that we are succeeding in our primary goal: providing a safe, high-quality, and nurturing environment for the children. Finally, we have been working to improve our transparency and make it easier for parents and the community to interface with the club. A key example of this is the new website we have created and will be rolling out. We were also delighted to win a grant from the Kincardine Development Fund, which will be used to support the purchase of new toys, and we thank them for their community support. significant cost reductions and new revenue-generating initiatives. However, as our "Good" inspection demonstrates, we have successfully navigated these challenges without compromising our high standard of care and while continuing to progress our charity's core mission. Thank you. 28 October 2025 ## **AGM Treasurer Update** ## **Period: September 2024-September 2025** ## **I took over from** ## **Treasurer's Role in December 2024.** inflation, and minimum wage increase, LOOSC experienced another financially difficult year. In addition to the above general changes/increases, LOOSC also moved to new larger premises in the village in October 2024, which significantly increased the monthly fixed cost as well. Also, while a larger venue meant we could potentially accommodate more children, it also meant a higher cost to maintain the space, more staff needed to cover the premises, and a higher cost overall added to the club’s expenditure. previous year, the club could no longer operate effectively and sustainably, while providing a safe and healthy environment for the children and services for the local community. To address the financial challenges, the committee members met in December 2024 and decided to make a difficult decision to increase the club fees. As a result of this, the club fees were increased from £9 to £10 for the breakfast club and from £18£20 for the afterschool club. Holiday club rate is staying the same at £45 per day, with the option of booking a half day session for £25. Additionally, the club made a difficult decision to reduce the Holiday club from 5 days per week to 3 days, operating from Tuesday- Friday only to further reduce variable and fixed costs. In addition to this, our new club manager , for new starts moved from permanently contracted staff to agency roles/bank staff, who now work during the busy times and when required only, which helped to further reduce LOOSC expenses. To increase the revenue, staff are encouraged to look for cost-effective ways to make LOOSC sessions more interactive and interesting for children. LOOSC now also offers a full day menu of activities for holiday club, including days out and fun special additions to the venue, such as bouncy castle, etc. 2024/2025 accounts report is showing a loss of £13401. Loss in 2023/2024 was £17857, meaning that LOOSC reduced the loss amount by £4456, which is an excellent start. Our accounts were verified by an external accountant and will be posted on OSCR shortly after the AGM. LOOSC total income in 2024/2025 was over £168000. The club rate increase and all the adjustments made to the expenses, and newly added money saving ideas will hopefully place LOOSC at a much better position financially for the 2025/2026 report. This year we are actively monitoring the revenue and expenditure, to ensure our strategic decisions are well planned and proactive rather than reactive. Thank you, Best Wishes,