Lewis Car Club
Charity No. SC032582
Company No. SC226126
Trustees' Report and Unaudited Accounts
31 December 2024
Lewis Car Club Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 4 | |
| Independent Examiner's Report | 5 | |
| Statement of Financial Activities | 6 | |
| Summary Income and Expenditure Account | 7 | |
| Balance Sheet | 8 | |
| Notes to the Accounts | 9 to | 14 |
| Detailed Statement of Financial Activities | 15 to | 16 |
Page 1
Lewis Car Club Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.
The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: 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 (FRS102).
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. SC226126
Charity No. SC032582
Registered Office
13 Murdoch Place Stornoway Isle of Lewis HS1 2YA
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
Calum Aird John MacLeod Roderick Matheson Nathan Murray
==> picture [298 x 71] intentionally omitted <==
Company Secretary
Kaleigh Edwards
Accountants
Nicolson Accountancy PO Box 16336 Glasgow G13 9FA
Bankers
Bank of Scotland 47 Cromwell Street Stornoway Isle of Lewis HS1 2DE
OBJECTIVES AND ACTIVITIES
Page 2
Lewis Car Club Trustees Annual Report
The main objectives of the charity are the provision of recreational and educational facilities for motorsport and motoring activities on the island of Lewis.
During the year Lewis Car Club (LCC) have been holding regular/fortnightly track events. Attracting up to 10/15 members with an entry fee of £15.
Prices of cars and parts have increased dramatically since covid and that has affected the number of people who use the track due to the costs involved.
LCC had a great start of the year with a static car show on the 20th April 2024.
LCC hosted the first ever drift event in May 2024 with KDkustoms and Doifest. It was a great success and great response from the public and will be happening next year.
LCC held its annual transport show in July 2024. It was not as successful as 2023 due to the weather not being as nice.
The contribution of volunteers (including trustees, members and individuals from the community) has been and continues to be, of immense benefit to the charity in the continuing development of its recreational facilities.
FINANCIAL REVIEW
The outcome for the year is as shown in the attached Statement of Financial Activities.
The General fund represents the unrestricted funds from past operating results. It also represents the free reserves of the charity. The trustees consider that the level of free reserves at the year end is sufficient to meet the charity's operational requirements given the ongoing fundraising events income being received.
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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 their exposure to the major risks.
The charity is partially dependent upon the continuing support of public funding agencies to assist in the ongoing delivery of the aims and objectives of the organisation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Association is a charitable company limited by guarantee, incorporated on 7 December 2001. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
The organisation is registered with the Scottish Charity Regulator and the Scottish Charity Number is SC032582.
The directors of the company are also charity trustees for the purpose of charity law.
Under the terms of the Memorandum and Articles of Association the Elected Directors are appointed by all the members at the Annual General Meeting. One third of the Elected Directors retire annually at each Annual General Meeting but are eligible for re-election.
Page 3
Lewis Car Club Trustees Annual Report
The board consists of voluntary directors who manage the affairs of the charity through regular board meetings. The charity has reviewed its internal operational structure to assist in the effective management of the organisation. The board members are heavily involved in the day to day operations of the charity.
The charity undertakes training for trustees to ensure awareness and understanding of the responsibilities of directors; the organisational structure of the charity; the financial position of the charity; and the future plans and objectives of the charity.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
Calum Aird (Feb 12, 2025 23:00 GMT) Calum Aird Trustee
12 February 2025
Page 4
Lewis Car Club Independent Examiners Report
Independent Examiner's Report to the trustees of Lewis Car Club
I report on the financial statements of Lewis Car Club for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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 financial statements 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 was 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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
-
to prepare financial statements 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.
Angus Nicolson Nicolson Accountancy PO Box 16336 Glasgow G13 9FA 12 February 2025
Page 5
Lewis Car Club Statement of Financial Activities
for the year ended 31 December 2024
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Total Expenditure on: Charitable activities 6 Other 8 Total Net gains on investments Net expenditure 9 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2024 £ - 5,715 |
Restricted funds 2024 £ - - |
Total funds 2024 £ - 5,715 |
Total funds 2023 £ 500 6,173 |
|---|---|---|---|---|
| 5,715 - 6,560 |
- - 2,286 |
5,715 - 8,846 |
6,673 1,003 7,304 |
|
| 6,560 - |
2,286 - |
8,846 - |
8,307 - |
|
| (845) - |
(2,286) - |
(3,131) - |
(1,634) - |
|
| (845) - |
(2,286) - |
(3,131) | (1,634) | |
| 0 | 0 | |||
| - | - | |||
| (845) 4,564 |
(2,286) 69,077 |
(3,131) 73,641 |
(1,634) 75,275 |
|
| 3,719 | 66,791 | 70,510 | 73,641 |
Page 6
Lewis Car Club Summary Income and Expenditure Account
for the year ended 31 December 2024
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2024 £ 5,715 5,715 6,560 2,286 8,846 (3,131) (3,131) |
2023 £ 6,673 |
|---|---|---|
| 6,673 | ||
| 6,021 2,286 |
||
| 8,307 | ||
| (1,634) | ||
| (1,634) |
Page 7
Lewis Car Club Balance Sheet
at 31 December 2024
| Company No. SC226126 Notes 2024 £ Fixed assets Tangible assets 11 61,722 61,722 Current assets Stocks 12 550 Debtors 13 2,155 Cash at bank and in hand 9,431 12,136 Creditors:Amount falling due within one year 14 (3,348) Net current assets 8,788 Total assets less current liabilities 70,510 Net assets excluding pension asset or liability 70,510 Total net assets 70,510 The funds of the charity Restricted funds 15 Restricted income funds 66,791 66,791 Unrestricted funds 15 General funds 3,719 3,719 Reserves 15 Total funds 70,510 |
2023 £ 64,008 |
|---|---|
| 64,008 550 2,115 15,019 |
|
| 17,684 (8,051) |
|
| 9,633 73,641 |
|
| 73,641 | |
| 73,641 | |
| 69,077 | |
| 69,077 4,564 |
|
| 4,564 | |
| 73,641 |
The trustees have prepared the accounts in accordance with section 44 of the Charities and Trustee Investment (Scotland) Act 2005 and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 12 February 2025
And signed on its behalf by:
Calum Aird
Trustee
12 February 2025
Page 8
Lewis Car Club Notes to the Accounts
for the year ended 31 December 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes.
-
Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. Calum Aird (Feb 12, 2025 23:00 GMT)Calum Aird (Feb 12, 2025 23:00 GMT) investment assets
Page 9
Lewis Car Club Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property 2% Straight line Plant 10% Straight line Computer equipment 25% Straight line
==> picture [205 x 48] intentionally omitted <==
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 10
Lewis Car Club
Notes to the Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies General donations 5 Income from charitable activities Membership fees Fundraising activities |
Unrestricted funds 2023 £ 500 6,173 6,673 1,003 7,304 8,307 (1,634) (1,634) (1,634) 3,912 2,278 Unrestricted £ 220 5,495 5,715 |
Restricted funds 2023 £ - - - - - - - - - 71,363 71,363 Total 2024 £ - - Total 2024 £ 220 5,495 5,715 |
Total funds 2023 £ 500 6,173 |
| 6,673 1,003 7,304 |
|||
| 8,307 | |||
| (1,634) | |||
| (1,634) | |||
| (1,634) 75,275 |
|||
| 73,641 | |||
| Total 2023 £ 500 |
|||
| 500 | |||
| Total 2023 £ 130 6,043 |
|||
| 6,173 |
Page 11
Lewis Car Club Notes to the Accounts
- 6 Expenditure on charitable activities
| Expenditure on charitable activities Fundraising activities Grants made Governance costs 7 Analysis of grants Activity or programme WICCI Activity or programme WICCI 8 Other expenditure Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 9 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets Independent Examiner's fee |
Unrestricted £ 2,574 - 3,736 250 6,560 |
Restricted £ - 2,286 - - 2,286 2024 £ 2,286 250 |
Total 2024 £ - - - Total 2024 £ - - Total 2024 £ - - Total 2024 £ 2,574 2,286 3,736 250 8,846 |
Total 2023 £ 53 950 |
|---|---|---|---|---|
| 1,003 | ||||
| Total 2023 £ 950 |
||||
| 950 | ||||
| Total 2023 £ |
||||
| 950 | ||||
| 950 | ||||
| Total 2023 £ 1,338 2,286 3,430 250 |
||||
| 7,304 | ||||
| 2023 £ 2,286 250 |
Page 12
Lewis Car Club Notes to the Accounts
10 Staff costs
No employee received emoluments in excess of £60,000.
11 Tangible fixed assets
| Cost or revaluation At 1 January 2024 At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charge for the year At 31 December 2024 Net book values At 31 December 2024 At 31 December 2023 12 Stocks Raw materials and consumables Carrying value analysed by activities Fundraising activities 13 Debtors Prepayments and accrued income 14 Creditors: amounts falling due within one year Trade creditors Accruals Deferred income |
Land and buildings £ 114,300 114,300 50,292 2,286 52,578 61,722 64,008 |
Plant £ 46,313 46,313 46,313 - 46,313 - - 2024 £ 550 550 2024 £ 550 550 2024 £ 2,155 2,155 2024 £ - 100 3,248 3,348 |
Computer equipment £ 7,743 7,743 7,743 - 7,743 - - |
Total £ 168,356 |
|---|---|---|---|---|
| 168,356 | ||||
| 104,348 2,286 |
||||
| 106,634 | ||||
| 61,722 | ||||
| 64,008 | ||||
| 2023 £ 550 |
||||
| 550 | ||||
| 2023 £ 550 |
||||
| 550 | ||||
| 2023 £ 2,115 |
||||
| 2,115 | ||||
| 2023 £ 61 250 7,740 |
||||
| 8,051 |
Page 13
Lewis Car Club Notes to the Accounts
15 Movement in funds
| Resources expended £ |
Gross transfers £ - - - - |
At 31 December 2024 £ 66,791 |
|
|---|---|---|---|
| (2,286) | |||
| (2,286) (6,560) (8,846) |
|||
| 66,791 | |||
| 3,719 | |||
| 70,510 | |||
| Unrestricted funds £ - 3,719 3,719 At 1 January 2024 £ |
Restricted funds £ 61,722 5,069 66,791 Cash flows £ |
Total £ 61,722 8,788 |
|
| 70,510 | |||
| At 31 December 2024 £ |
|||
| 15,019 | (5,588) | 9,431 | |
| 15,019 15,019 |
(5,588) (5,588) |
9,431 | |
| 9,431 | |||
| 18 Related party disclosures Controlling party |
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
Lewis Car Club Detailed Statement of Financial Activities
for the year ended 31 December 2024
| Income and endowments from: Donations and legacies General donations Charitable activities Membership fees Fundraising activities Total income and endowments Expenditure on: Charitable activities Fundraising activities Grants made Total of expenditure on charitable activities Premises costs Light, heat and power Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of land and buildings Depreciation of Plant Depreciation of Computer equipment General insurances Stationery and printing Subscriptions Sundry expenses Legal and professional costs Audit/Independent examination fees fees Total of expenditure of other costs |
Unrestricte d funds 2024 £ - - 220 5,495 5,715 5,715 - - - - 1,140 1,434 2,574 - - - 2,885 248 585 18 3,736 250 250 6,560 |
2024 £ - - - - - - - - - - - - - 2,286 - - - - - - 2,286 - - 2,286 |
Total funds 2024 £ - - 220 5,495 5,715 5,715 - - - - 1,140 1,434 2,574 2,286 - - 2,885 248 585 18 6,022 250 250 8,846 |
Total funds 2023 £ 500 |
|---|---|---|---|---|
| 500 | ||||
| 130 6,043 |
||||
| 6,173 | ||||
| 6,673 53 950 |
||||
| 1,003 | ||||
| 1,003 952 386 |
||||
| 1,338 | ||||
| 2,286 - - 2,819 - 550 61 |
||||
| 5,716 | ||||
| 250 | ||||
| 250 | ||||
| 7,304 |
Page 15
Lewis Car Club
Detailed Statement of Financial Activities
| Lewis Car Club Detailed Statement of Financial Activities |
||||
|---|---|---|---|---|
| Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
6,560 - (845) (845) - (845) 4,564 3,719 |
2,286 - (2,286) (2,286) - (2,286) 69,077 66,791 |
8,846 - (3,131) (3,131) - (3,131) 73,641 70,510 |
8,307 - |
| (1,634) | ||||
| (1,634) - |
||||
| (1,634) | ||||
| 75,275 | ||||
| 73,641 |
Page 16