Tain Initiative Group SCIO Scottish Charity No- SC034007 Annual Report and Financial Statements For the year ended 31 March ?025
Trustees, Annual Report For the year ended 31°, March 2025 The trustees haNe pleL1siire in presentinLT their rcport togcthcr with the financial statcmcnts for thL yur L'ndL'd 31 Mdl'Lh 2025 Reference and Adminiytrative Inturmatiun Charity name Tain Initiative Group SCIO Charity no SC034007 Current TrusteL's
Structure, Governance and Management Constitution The Charity is a Scottish Charitable Incorporated OrLFanisation (a SCIO). It was registered in its curreni legjal form on 15, SLptember 2015. The charity was previously a company limited by guarantee as defiiied by the conipanies act 2006 but changed its legal form to a SCIO. The asscts of.thc limitcd company wci'e transfci'red to tlie SCIO oil 15 Seplember 2015. 11 has a single tier structure and as such ihe trustees are the members of thc charity. Appointment of trustces Membership is opeii to <ll]y individual ag7ed 16 or ovei. who suppuits the aims and purposcs of tlie lain liiitiative Group. Employees of tlie orgyanisation are not eligible for meinbLI'ship. Trustees are elected from the mcmbership at the Annual General Meeting of the Group. The minimum number of ti"ust¢es is thrce and the maximum number of Trustees is nine. Objectives and Activities Charitable purposes To promote f.or the benefit of thL public iii Tain. by associatingy witli local authorities, voluntary organisations and residents in furtherance of: (a) "I"he pi'ovision ot facilities, or tliL oi'ganisatÉon of I'ecreational. social cindlor environmcntal activities. with tlic objcLt of improviiig thc condition.s of. life for the persoiis lor wliom the faLilities or activitics are priiiiarily intendcd, Ihi'ough tlic developnient, orgyaiiisation an(Vor promotioii ol: facililÉes, activities aiid iiitoi'iiialion for tIiL publ ic wLllbLiiig. (b) The advancemeiit of enviroiimental protection or improvement through the development, pronTrotion and oi.gaiiisation of <lCtiviti¢8 and facÉlities for the piiblic beiietit. (c) To adv7¢¢ the education of the publiL in Tain throug)h thc provision and pi'omotion of activities, facilities and information to iniprove their lives and wellbeing. (d) Tlie advm¢ cenient of heLllth thi'oiigh tlie provision 1¢ nd promotion of formal and infomial leisurc and social F(Icilities and aclivities foi tlie wel Ibciiig of. all ihe piiblic. (c) the advanucinent ol: citizLnsliip or Lommiiiiity dcvclopnicni tlirough tlie cncourageineiit, SLlPPOI"t and promotion ot" voluntaiy activily for the public we.Ibeiiig. (D tlie adviU]c¢ni¢nt of'thL arts, hei'itage: cultui'c or sLiLnc¢ by developingy, oi'ganising and/or promoling cvents, facilities, aLlivities ld/()r infoi-niatioii t'or the beiiefit ot.all tlie public.
ActivitlL'S DuringJ IhL year undc'r r¢viLw Ihc TTUStcLs gwave considcration to fui'ihcr developmcnt ot. the field at Knocl<brcLk gFifted to li% b}, Llilc i-ilcible donation iillLI tlii5 Loiiliniics. '.I'hree plots hclve bL'Ln idLntiliLd lor salL diid planning pLrmi55ion bLLII dpprovLd, hc)wcvL'r a Londition or appi'i)val was th(It aIiy fului-L dcvLlopiiici)t should LoiiiL otl- Knoclcbi'cck Road wliiLh w'ill b dit'licult. Thcse plots, are prcseiitly beiiigi niarkeled for sale. Duriiigy the Ye ilie I"rust lias woi'ked w'ith 'fdin Bike Track io lielp iii tlieir project to renovate the Elike "I'raL'k in the town and the second stage of this is almost complete. A grant of £15.000 was awarded by ourselves to assist with thc projcct. Wc havc assi%tcd Tain Gala during thc ycar and also gave tcchnical assistancc to thc Picture FIoiise Project. Wc arc prcscntly involvcd in projects to forni country sidc patli fi'oiii Tain to GlcIllnorl1Le Dislillciy, to crcatc a play pk iii tlic BurL)age area ot Tain and t'urtlier assistance to Tain Gala f.or equipiiieiit they require. The Trust works wilh and assists loLal voluti(Y gyroups. AsbLL L)urinLi ihe year to 31.3.2018 '1'ain Initialive Group was gified by ch(Irilable donation 5.62 (icres of land at kniockbrcck Road 'l'aiii. 'I'his land has iiot bccn valued and is included in the accounts at a nominal Vlc lue of £ l . Two hoiise plots were identitied <lnd sold, a fiirther three plots are being7 niai'keted for Sdlc and The Group continues to consider how the remainder of Ihe land Lan be iililised for ihe knelii of the Town.
Financial review Results for the year The financial .%latcments for the year are Set out below. Th¢ Stalcrnenl of income and expciidiliirc shows opcning balaiicc.s at 1.4.2024 of £3,900 restricted funds and £96.544.43 unrestricted.. Positioii at ycar cnd 31.3.2025 sliows £1,495.31 L'e8ti'icted fund% and £63,645.94 unrestricted. Reserves Policy All projects are fully funded before conllnencement, The Tnistees are therefore satisfied with Ihe level ol"rLserves. Plans for future period Tain Initiativc Group will considcr the best use of thc remaiiiing I]d ai Knockbreck Road and the funds already received for the sale of the two plois. ThL irusiees will Loniinue to Loiisider projeLls il niily becoine involved in and work witli and assist local voluntary groups for the benefit of Tain. n hehglf nf the Tr17Stee Date
Statement of Receipts and Payments for the year ended 31 March 2025 Unrestricted fuiids Restricted Funds Year ended Year ended 311312025 311312024 Receipts Grants Baiik Iiiterest 29,700.00 29,700.00 780.75 780.75 1,352.47 Other Totsl receipts 780.75 29 700.00 30 480.75 1352.47 Payments Cost of generating fuiids Cost ol. Cliaritable ActLVlties Governance Costs 33,679.24 32,104.69 65,783.93 5,071.96 Total Payiiieiits Siirplus/(deIicit) For year 33 679.24 32 104.69 65 783.93 5 071.96 (32,898.49) (2,404.69) (35,303.18) (3,719.49) Statement of Balances As at 31°, March 2025 Unrestricted Fluids Restricted Funds Total 2025 Tolal 2024 Opening cash at B]k and in haiid 96,544.43 3,900.00 100,444.43 104,163.92 Surplus/(deFILit) ror ihe year (32,898.49) (2,404.69) (35,303..18) (3,719.49) Closing Lash at Bank and in I]]d Bank and Cash Balances 63 645.94 1495.31 65 141.25 100 444.43 63 645.94 1495,31 65 141.25 100 444.43 Other assets £1 nil £1 £1 Liabilities nil nil nil nil
l. Notes to the accounts - for the year ended 31 ' March 2025 Basis of accounting These accounts Iiave been prepared on the Receipts and Payments basis in accordance witli the Charities & Triistee Investments (Scotland) Act 9005 and the Charities Accounts (Scotland) Regulations 2006 (as ainended) Iyature and purpose of funds Unrestricted funds are those that may be used at the Jiscretion of the Trustees in furtherance of ilie objects ol.the charity. Restricted funds may only be used for specific purpcses. Restrictions arise when specified by the donor or wlien funds are raised for specific purpcses. Related party transactions No remuneration was paid to the trustees or any connected persons during the year (2024:nil) Donations Tain Bike Track Tain Gala £15,000 £ 5.000 Gift of Asset 5.62 acres land at Knockbreck Road was gyified as a charitable donation to Tain Initiative Group duringl the year 2017 - 2018. Dui'ingF the year ?020-20? I planning pennission for two holis¢ plots was appi-oved and the plots sold willi tlie free proceeds of Ll 14,131.62 being crLclited to tlie Trust B1£ nk accouiit on 9.3.2021. -fiirL I:urtlier pli)ts have received planning permi.88ion and are presently being advertised for sale. Tlie land has not been valiied and is incliided in the accounts as other cissets at a notninal -dalue of £1. Grants received Unrestricted Funds Restricled Funds Total 2025 Total 2024 Higyhland Coiincil W<ird Discretioiiary Budgyet £29,700 £29,700
Cost of charitable activities UnrestriL'ted Funds Restricted Funds Total 21125 Tutal 2024 Insurance Kiiockbreck Road dcvclopmenl 170.24 170.24 136.26 13,473.00 13.473.00 4,377.00 Stationery Developnicnt OffiLers Donations 36.00 36.00 32.104.6L) 20 000.00 32,104.ti9 i (i().00 458.70 20 000.00 33 679.24 32 104,69 65 783.93 5 071.96 Governance Costs Unrestricted Restricted Funds Total 2024 Total 2023 IndLpenLlent ExaniinL'r' s fLe Tran.8fers between funds Certified a true Lopy ot'tlie accountb of .1 ain Iniliative Group I'SCIO) tor year to 31.3.2025 rcasurer ependeiit EXMine1.