ST ANDREWS ART CLUB
REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
SCOTTISH CHARITY NUMBER SC027622
Henderson Black & Co
CHARTERED ACCOUNTANTS, ST ANDREWS
ST ANDREWS ART CLUB
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Charity Number – SC027622
| Contents | Page |
|---|---|
| Trustees’ Annual Report | |
| including legal and administrative information | 1 – 2 |
| Independent Examiner’s Report to the Trustees | 3 |
| Receipts and Payments Account | 4 |
| Statement of Balances | 5 |
| Notes to the Accounts | 6 - 7 |
ST ANDREWS ART CLUB
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees have pleasure in presenting their report together with the financial statements and the independent examiner’s report for the year ended 31 December 2025.
Reference and Administrative Information
Charity name: St Andrews Art Club Scottish Charity Number: SC027622 Contact Address: 14c Argyle Street, St Andrews, Fife, KY16 9BP Bankers: Bank of Scotland Independent Examiner: Joanne Paul, Henderson Black & Co, Chartered Accountants, St Andrews
Trustees
The charity is administered by the trustees. The following persons have served throughout the year and since the year end:
J. Clark E. Craig (resigned 27 March 2025) H. Craig (President) G Duncan (Vice President) I. Finlay J. Le Maitre (Secretary) A. McQueen S. Peckerman (resigned 31 December 2025) C. Shannon (Treasurer) A. Wood (appointed 27 March 2025)
Structure, Governance and Management
The charity is an unincorporated association established in 1959 and which received charitable status in March 1998. Key administrative arrangements are set out in our constitution. The charity is supervised by the trustees who meet approximately six times a year. The day to day administration is carried out by the office bearers as listed above.
Recruitment and appointment of Trustees
All of the charity’s trustees are appointed or re-appointed by the members at our annual general meeting, which is held in March each year. New trustees are provided with an induction pack which includes the most recent accounts, a copy of the charity constitution and the OSCR “Guidance for Charity Trustees” document.
Charitable purposes
The purposes of the charity are to advance the education of the public in St. Andrews and its environs in the knowledge, understanding and application of the arts and, particularly, the visual arts. The charity is based at 14c Argyle Street, St Andrews.
Review of the Activities and Achievements, including Financial Review
The results of the year are set out in the Receipts and Payments Account and Statement of Balances. The detail in the Receipts and Payments Account reflects the level of activities. £50,000 was placed on shortterm deposit.
We have once again provided members with a full and varied programme of classes, workshops, and events, all of which have been fully supported by members.
We have put on three week-long exhibitions open to the public, and participated in the wider community with members submitting paintings to the Community Cup Competition.
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ST ANDREWS ART CLUB
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
At the March 2025 AGM, Elizabeth Craig resigned as property manager and Adrian Wood was appointed in her place.
Reserves Policy and Risk Management
The Statement of Balances shows cash funds of £79,139 at the year end (2024 - £71,865). Unrestricted funds were £64,383 (2024 - £57,522) and restricted funds were £14,756 (2024 - £14,343).
In addition, the charity held investments at a market value of £17,338 (2024 - £14,777). The trustees are satisfied that funds are sufficient to meet the ongoing work of the charity including cyclical repair and maintenance costs to the charity’s premises.
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate the charity’s exposure to the major risks.
Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Standards). The law applicable to charities in Scotland requires the trustees to prepare financial statements for each year which give an accurate view of the state of affairs of the charity and of the receipts and payments of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
Hilary Craig (President)
Date 10/04/2026
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ST ANDREWS ART CLUB INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ST ANDREWS ART CLUB
I report on the accounts of the charity for the year ended 31 December 2025 which are set out on pages 4 to 7.
Respective Responsibilities of the Trustees and Examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (“the 2005 Act”) and the Charities Accounts (Scotland) Regulations 2006 (as amended) (“the 2006 Regulations”). The charity’s trustees consider that the audit requirement of Regulation 10(1)(d) of the 2006 Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1)(c) of the 2005 Act and to state whether particular matters have come to my attention.
This report is made to the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees for my work or for this report.
Basis of Independent Examiner’s Statement
My examination is carried out in accordance with Regulation 11 of the 2006 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:-
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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 Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Joanne Paul CA Partner Henderson Black & Co Chartered Accountants
Chestney House 149 Market Street St Andrews Fife KY16 9PF
Date 15/04/2026
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ST ANDREWS ART CLUB
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 Unrestricted Funds General Notes Fund £ Receipts Voluntary Receipts: Donations 942 Gift aid 2,281 Investment income 325 Deposit account interest 808 Receipts from Charitable Activities: Members' subscriptions 3 5,075 Class and workshop fees 14,060 Summer exhibition 4 2,690 Easter exhibition 4 3,183 Winter exhibition 4 2,118 Other Refund of electricity charges - Collected for nominated charity - Total receipts 31,482 Payments Expenditure on Charitable Activities: Speakers' fees - Tutors' fees and workshop expenses 12,807 Summer exhibition 4 2,256 Easter exhibition 4 2,899 Winter exhibition 4 1,409 Prizes - Heat and light 812 Insurance 739 Cleaning 1,726 Repairs and renewals 902 Postage, stationery and advertising 65 Grants and donations 5 36 Independent Examiner's fee 720 AGM 25 Purchase of equipment - Sundry expenses 225 Total expenditure 24,621 Surplus for Year 6,861 |
2025 Restricted Funds £ - - 623 - - - - - - - - 623 - - - - - 210 - - - - - - - - - - 210 413 |
2025 Total £ 942 2,281 948 808 5,075 14,060 2,690 3,183 2,118 - - 32,105 - 12,807 2,256 2,899 1,409 210 812 739 1,726 902 65 36 720 25 - 225 24,831 7,274 |
2024 Unrestricted Funds General Fund £ 674 - 309 - 5,180 14,789 3,198 1,733 3,017 213 143 29,256 606 14,391 2,744 1,534 2,585 - 798 986 1,653 1,206 66 203 720 6 - 176 27,674 1,582 |
2024 Restricted Funds £ - - 594 - - - - - - - - 594 - - - - - 90 - - - - - - - - 695 - 785 (191) |
2024 Total £ 674 - 903 - 5,180 14,789 3,198 1,733 3,017 213 143 |
|---|---|---|---|---|---|
| 29,850 | |||||
| 606 14,391 2,744 1,534 2,585 90 798 986 1,653 1,206 66 203 720 6 695 176 |
|||||
| 28,459 | |||||
| 1,391 |
The Notes on pages 6 & 7 form an integral part of these accounts.
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ST ANDREWS ART CLUB
STATEMENT OF BALANCES
AS AT 31 DECEMBER 2025
| At 1 | At 31 | ||||
|---|---|---|---|---|---|
| January | December | ||||
| Cash Funds | 2025 | Income | Expenditure | Key deposits | 2025 |
| £ | £ | £ | £ | £ | |
| Restricted funds (note 6) | |||||
| Education fund | 2,188 | 623 | (210) | - | 2,601 |
| Marilyn Price Legacy | 12,155 | - | - | - | 12,155 |
| 14,343 | 623 | (210) | - | 14,756 | |
| Unrestricted funds | |||||
| General fund | 57,522 | 31,482 | (24,621) | - | 64,383 |
| Closing cash at bank and in hand | 71,865 | 32,105 | (24,831) | - | 79,139 |
| Bank and Cash balances: | |||||
| Bank of Scotland - charity account | 71,767 | 28,233 | |||
| Bank of Scotland - deposit account | - | 50,808 | |||
| Cash on hand | 98 | 98 | |||
| 71,865 | 79,139 | ||||
| Investments | 2025 | 2024 | 2025 | 2024 | |
| £ | £ | £ | £ | ||
| Original | Original | Market | Market | ||
| Cost | Cost | Value | Value | ||
| General Fund - Unrestricted | |||||
| M&G Charifund - 344 income units | 5,000 | 5,000 | 5,936 | 5,059 | |
| 5,000 | 5,000 | 5,936 | 5,059 | ||
| Education Fund - Restricted | |||||
| M&G Charifund - 660 income units | 7,280 | 7,280 | 11,402 | 9,718 | |
| 12,280 | 12,280 | 17,338 | 14,777 | ||
| 2025 | 2024 | ||||
| Assets- at cost | £ | £ | |||
| Projector | 695 | 695 | |||
| 695 | 695 | ||||
| 2025 | 2024 | ||||
| Liabilities (Unrestricted funds) | £ | £ | |||
| Independent examination fees | 756 | 720 | |||
| Key deposits | 115 | 115 | |||
| 871 | 835 |
The notes on pages 6 & 7 form an integral part of these accounts.
Approved by the trustees and signed on their behalf by:
Hilary Craig (President) Date 10/04/2026
Caroline Shannon (Treasurer)
Date 09/04/2026
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ST ANDREWS ART CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1. Accounting Policies
(a) Basis of accounting
These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland)
(b) Taxation
Charitable status for tax purposes was obtained from HM Revenue & Customs and no provision has been made for payment of taxation in the financial statements.
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(c) Cash flow statement The charity is entitled to the exemptions available in The Charities Accounts (Scotland) Regulations 2006 (as amended) and is therefore not required to prepare a Cash Flow Statement.
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(d) Tangible fixed assets and depreciation
The charity premises in Argyle Street, St Andrews are reflected at nil value in the financial statements. Plant and equipment are reflected at cost.
(e) Receipts
Voluntary receipts including donations, gifts and legacies are recognised when they are received.
(f) Payments
- Expenses are recognised when payment is made. All expenses are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of expenses for which it was incurred.
(g) Nature of funds
The charity has unrestricted and restricted funds.
Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity.
Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes.
(h) Investments
Investments are reflected at market value with a note of cost at the year end.
2. Trustee remuneration and expenses
The trustees did not receive any remuneration or expenses in the year (2024 none).
3. Membership subscriptions
Subscriptions from members covers the period from 1 September to 31 August. Subscriptions for the year to 31 August 2025 were £35 for all members. The subscription remains at £35 for the 2025/26 year.
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ST ANDREWS ART CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
4. Details of Exhibitions
4 (a) Summer Exhibitions
| 2025 £ Income Hanging fees 114 Picture sales 2,576 2,690 Expenditure Payments to artists 2,193 Exhibition expenses 63 2,256 Surplus 434 Number of pictures sold 25 4 (b) Other Exhibitions Income Commissions Hanging fees Expenditure Payments to artists & other expenses Surplus |
2024 2023 £ £ 121 148 3,077 2,869 3,198 3,017 2,635 2,459 109 - 2,744 2,459 454 558 32 35 Easter Winter Exhibition Exhibition 3,050 2,006 133 112 3,183 2,118 2,899 1,409 284 709 2025 |
2022 2021 £ £ 156 222 3,340 3,290 3,496 3,512 2,755 2,835 63 33 2,818 2,868 678 644 38 37 Easter Winter Exhibition Exhibition £ £ 1,630 2,864 103 153 1,733 3,017 1,534 2,585 199 432 2024 |
2021 £ 222 3,290 |
|---|---|---|---|
| 3,512 | |||
| 2,835 33 |
|||
| 2,868 | |||
| 644 | |||
| 3,017 | |||
| 2,585 | |||
| 432 |
5. Charitable Grants
| Homestart Kingdom Vineyard |
2025 £ 36 - 36 |
2024 £ - 203 |
|---|---|---|
| 203 |
6. Purpose of restricted funds
Education fund: This fund was created to contribute to the costs of speakers' fees and prizes. Marilyn Price Legacy: This fund was created by a legacy, received in 2022, from Marilyn Price to be used to improve member facilities.
7. Other Assets
The Club property was purchased in 1985 with funds from an inheritance, the original cost is not known and is therefore not reflected in the accounts.
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