COMPANY REGISTRATION NUMBER: SC246678 CHARITY REGISTRATION NUMBER: SC034288 Cowal Community Sports Project Ltd. Company Limited by Guarantee Unaudited Financial Ststements 27 March 2025 Cowal Community Sports Project Ltd. Company Limited by Guarantso Financial Statements Year ended 27 March 2025 Page Trustees, annual report (incorporating the directofs report) Independent examiners report to the trustees Statement of financial ath'vib'es (including income and expenditure account) Statement of financial posilion Notes to the financial statements Cowal Community Sports Project Ltd. Company Limitod by Guarantee Tru8t••s' Annual Report (Incorporatlng the Dlrectorfs Report) Year ended 27 March 2025 The trustees. are also the dirertors ft)r the PU￿Se5 of ccryany law, preserrt th￿'r rewi arKI the unaudit&l finan￿81 stateffl￿ of the d￿rity for year erwJ•J 27 Marth 2025. R•hr•nc• and admlnl•tralfv• d•tslls Regl8tor•d charlty nam• Ctr*al Conmunty Sp￿ts Pryx Ltd. Charity rngistr•llon numb•r SC034288 Cofflpany roglstr¥llon numb•r SC246678 Principal ¢)ffiu and r•gl•t•Y•d 35 Hunter Street offic• Kim Arg￿1 PA23 8LS Mr G Mcknnven Mr W Kelly Mr J Torrance C*)mpany ••cr•tsry Mf G Mth'nven Strucluro. govern•nc• and m•n•g•rn1rt Cowal Communty Sports Prcyecl Lvniw is a ra(x4ni8od t*wty in ScthThJ and ￿ a180 a company limited by guarantee in￿￿rated on 27 Marth 2003. ObJKtlv•• and •thlll•• The principal objothe ol Ctr￿1 C(•nmunty SpThts ProJorA Linitsd 18 to provKle. in intsresl of ial welfare, facili￿¥ lor re¢reati¢n aThJ other lek*ure a(li¥ilM availabb to the public al large within Cowal Di%tnGI ￿ a vi*w to Ihew cornJrtKm8 of lrfo. Strat•giC rnport The followng se(*ions ft>r athi8y￿nts and perfomian¢e arnj fina￿la1 reviv•4 fom the strategic report of the charrty. Achl•v•m•nts and perfornMnc• There has been tr•Jir#J in this and there will be in Ihe fuiure. Financial rgviow Cowal Community Sports Project Ltd. Company Limited by Guarants• Trustee8' Annual Report (Incorporating the Dire¢tof8 Report) (¢onllnue Year ended 27 March 2025 Th8 trustee8' annual report and the $tralegi¢ report ￿Te approv&J on 2 D￿mber 2025 and sign&J on behalf of the board of trustees by.. WJbcw.M. Mrw Kelly Trustee Cowal Community Sports Project Ltd. Company Llmlted by Guarantee Independent Examinerfs Report to the Trustees of Cowal Communlty Sports Project Ltd. Year ended 27 March 2025 I report on the a(xounts of the charity for the eThJvAJ 27 March 2025 are set on page8 1 to 10. R•ap•ctlv• rn•ponslbllltSes of Iru8to08 and examlnor The charity's trustees {who are also dIre(kn￿ of the c¢Jnpany for the purkKtses of ecmpany lawl are respon&ble for the preparatson of the accounts in ac(￿anCe wth the tenns of the Charities and Trustee Investh￿nI (sco￿ar￿J) Act 2005 and the Charities Accwnts Isccrtland) Regulations 2006. The chanty trustees conskJer that the a￿rt ￿uireMent of R&JUla￿n 10111 (a) to {cl of the 2006 Accounts Regulation8 does not appty. It is my respon8ibility to examine aC￿UThts as rw4uired under section 4411) Ic) of the Act and to stato partwlar mattws ha%* to my attent￿￿. B••1• of Indepondont examin0￿$ •tat•mort My examination 16 cam&J in ac(1)[danr￿ wrth Regulaknn 11 of the 2rTh Arx4yJnts Regulations. An examinatson indudes a review of the a￿￿nting recor(Is kept by th8 charity and a Compar￿On of the accounts presenknj wrth those re￿rds. It also Incl￿e8 conshJerath)n of any unusual rt•ms OT disclosures in It¢ a¢¢ounts. and seeks explanath￿S frcm the tntstees eorKwning any $u¢h matters. Tho procedures undertaken do not wovwje am evwJenc* that wouhj bè requir&l in an audit. aThJ con8equentty I do not expre￿ an audrt opinim ￿ the VVaT given by the a¢r￿nts. Independent •x•mln•rf• •t•t•m•nt In the Course of my examina11r￿. rKJ matter ha8 wne to my allen 1. which gNes me reasonable cau8e to belie￿ that in any nthial tr* requirements: • to keep acctyjnting record8 in accothnce with Sec*on 44{1) {a) of the 2005 Ad and Regulation 4 of the 20C6 Ac¢>￿nts Regulations . to prepare accounts which acc James R B Ross 8.A. C. Independent Examiner 80 Argyll Street Dunoon PA23 7NE 15 November 2024 Cowal Community Sports Project Ltd. Company Llmlted by Guarantee statement of Flnanclal Actlvltles (including income and expenditure account) Year ended 27 March 2025 2025 Unwtricted funds Tolal fund8 Totsl funds 2024 Income and ondovfflwnts Donations and18gacies Total incorn• 59 59 13 59 69 13 Expnditur• Expenditure on charitab18 activities Total •xpondltyro 13 13 N•t In¢omo •nd not movemont In lund• 25 26 Roconclllatlon of funds Total funds bfought forward Tol•l fvnd• ¢•rrlod forward 15 15 15 40 15 The Statement of financial activiti08 Incl￿18$ all gain8 and108￿ recogni8ed in the year. All Incorne and expendlture Oerfve from contlnulng a¢tfvltss. Th• not¢$ on 6 to 10 fomi p•rt ot th••e financial Btatements. Cowal Community Sports Project Ltd. Company Limited by Guarantee Statement of Flnanclal Position 27 March 2025 2025 2024 Current assets Cash at bank arKI in harKI 74 28 Creditors: amounts falling duo wlthln one ymr Net Current assets 11 13 15 Total a8s•ts Itss current Ilabllllles 15 Funds of the charity Unrestricted fuThJs 15 Total charity funds 12 15 For the year ending 27 March 2025 the charity vras enlthl to exefflpt￿ fr(¥n audit urKler section 477 of the Companies Act 20C6 relating to small companies. Directors. responsibilit￿.. The rnernbe￿ have not required the ￿npanY to obtain an audil of ils financial Statem￿ for the year in questw)n in aC￿rdan0 with sectN)n 476: The directors ackncAvledge their respons￿lI￿*S for y￿h the requ￿nents of the Act These financial statements have been prepargj in wth the prD¥￿n$ ¥*pl1￿b￿ to companies subFct to ts small c(xnpanw' regiFrE. These financial statwnents ￿re aFvroved by Ihe Ex>ard of trustees aThJ authorised for issue on 2 December 2025, and are sb3nd on tehalf of the tthrd by. MrWKe Trustee The not￿ on p•gM 6 10 10 form part of thw• financial stat•m•nts. Cowal Community Sports Project Ltd. Company Limited by Guarantee Notes to the Financial Statements Year ended 27 March 2025 General infornialion The charity is a public benefft entity aTrJ a private company Simited by guarantee. re9iStered in Scotland and a registered charity in Scotland. The address of the registered office is 35 Hunter Street. Kim, Dunoon, Argyll. PA23 8LS. Statsmont of complianc• These financial statements have been prepared in Complian￿ 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 acwunls in accofdants with the Finanryal Reporting Standard applicable in the UK and Republic of IrelaThJ IFRS 1021 (Charities SORP IFRS 102}l and the Companies Act 20(￿. Accounting policie8 Basi¥ of preparation The financial Statements have been prepared on the historical cost basis, as modrfied by the revaluab'on of ￿rtain financial assets and liabill￿e5 and investm￿t properties measured at fair value through inthme or expenditure. The finanaal $tatements are prepared in sterting. which is the fijnctional currency of the entty. Going ¢on¢ern There has b￿￿ no trading in the year and will be none in the ftthjre. Judgemgnts and koy sources of estlmatlon uncertalnty The preparation of the financial statements ￿UireS management to make judgements. estirnate5 and assumptions that affect the amounts reported. These estirnates and judgernents are continually rev￿ and are based on experien￿ and other facaors. induding expedations of fvture events that are believed to be reasonable under the arcumstances. Significant judgements The judgements (apart from those inv￿VIng estimat￿$) that management has made in the proc￿ of apptying entivs accounting policies and that have the most signfficant effect on the amounts rec(NJnh*J in the financial statements are as follows.. There are no material judgements that management have made in the piocess of applying the entty's accounting policies. Key sources of estimakn.on uncertainty AcLOLtnting estimates and assumptK)ns are made C(￿cerning the future and. by tsir nature, will rarely equal the rebated actual outcome. The key assumptN)ns a￿1 other sources of ests"mation uncertainty that have a signffjcant risk of causing a material adjustrnent to the carrying amounts of assets and liabilities within the next finanryal year are as follows.. There are no accounts'ng estimates and assumpts'ons maje that have a signlficant fisk of causing material adjustment to the carrying amourts of assets and liabilrbes within the next financial year. Cowal Community Sports Project Ltd. Company Limit￿ by Guarantse Notss to th• Financial Stat•m•nts (COnth￿￿) Year ended 27 March 2025 Accounting poll¢le# {condnwdJ Fund aGGoynting Unrestricted fund5 are availab￿ for use at the discrelN)n of the trustees to further any of the ¢harity's purposes. De$h3n*ed funds are Unrestric￿ funds eannathj by the trustees for particutai future project or )mmitment. Restricted funds are subjected to restri¢tsons on their expenditure declared by the donor or Ihrough the temis of an appeal. and fall into one of Iwo Su￿aSses. restrirt￿ incom8 funds 01 end¢)wment fvnds. Incoming re￿UrCeS All incoming resources are included in the statement of financial activities when entitlement has passed to the charty,. r( is probable that the econcffiic benefts associaled with the Iransaclion will flow to the charity and the amount can be reliably measured. The following wific polic￿8 are applied to particjjlar categories of incom8.' income from donations or grants is recognised when there is eviden* of entiliement to the grft. receipt is probab5e and its amount can be Measur￿1 ￿liab￿. legacy income is recognised when receipt is probable and entrtlement is established. income from donated gi)ods is measur￿1 at the fair value of the goLxls unless this is impractical to measure reliably, in which case the value is derived frum the cost to the donor or the esb'mated resale value. Donated facilit￿ aThJ services are recLwJnised in the accounts when re￿1¥￿1 rf tt)e value can be reliably measured. No amounts a￿ includ&￿ for the conlribution of gewal volunteer5. income from contracts for the suppty of seTvices is rerngnispAI with the delNery of the contracted service. This is classrfied as unrestrithd ftjnds there is a contractual requirement for rt to be spent on a parti(￿lar purpose and retumed rf unspent, in whrch case f( may be regarded as restricted. Cowal Community Sports Project Ltd. Company Limited by Guarantse Notes to the Financial Statements Year ended 27 March 2025 AccounllNJ policie• Re8ourcos oxpondod Expenditure is rec()Jntsed on an ac¢nJals basis as a liabb￿ty is IncUr￿d. Expendilure includes any VAT whth cannot be lulty recovered. arKI is class[f￿ u￿ler Wings of the statement of finanaal ac11vit￿ to whth rt rekn: expenditure on raiwrvj funds i￿lUdeS the costs of au fvndraising activities. events, nOn-d￿nIable tr*lirnJ aclivrt*s. the sale of donated gLxNIs. expenditure on tharItab￿ act]vib￿ indudes all costs incurred by a dHrty in undertaking acawrties that fvrther rts t*artable aims tl* benefit of ils teneficjarw, including those support costs and créts relating to govemano crf ts cl￿r￿ apwbml to tharitable other expenditure In￿l￿eS all experKlrture that is nerfher relabj to raising funds for the charity nor part of its expeThliiure on charitth atXNilies. I costs are allocated to eXpe￿litu[e categorEs refieth'TVJ ts use of ￿ resourc*. Direct costs attributable to a single actNty are alk￿ated dww* to that thty. Shar￿1 o)sts are aFvorb"oned between the athl1￿ they c(M￿rIbUte to on a reaS(￿able. jLtstifiable ￿ ￿•SIsterrt basis. Flnanclal Instruments A finan(aal asset or a financial Imb.￿lty ￿ rK(w3n￿d only when ￿ charrty be0)M￿ a party to the Basic financial instruments are inibally recAyJnis&l at the •)Kwrrt recerrfable or Payab￿ incbjding any related transaction costs. Current assets arnl current liabilitses are sub8equenty nw8ureAJ at the osh or other consideration expe(I8Y to be paKI or T￿[¥￿j aThl Th)t diS(￿￿t￿J. Ithe￿ investr))ents in shares are publth traJ&J or their fair value Ltherww be measured reliably, the Investm￿ is subsequattly measured at fair value with changes in fair value recognised in income aThJ exp￿dit￿le. All other such Inves￿￿ents are sUbwuen￿Y Ir￿$ured at cost less inpalm￿rt Other financial instruments. inekKling dwr4*r￿. initslty reCcsnE￿ at fair value. un￿sS payment for an asset is deferred beYLv￿ rK)m￿l bus1r￿ tem1$ or financed at a rate of irrterest that is not a market rate, in whth the asset is measured at fv present value of the fvture payments dh8(%￿nted at a ffla￿et rate of intsrest for a swnilar debt instrurnenL Other financial instruments are Sub￿￿ measurgj at fair value, wrth any chaThJes recognised in the Stat￿ of fmancaal ac*i¥ths. with the of instruments in a deS￿nated hedgirwJ relationshtp. Financial ass&s that are measured at cost or am0[b￿l L￿t are for objectNe evKlence of impairrnent at ￿ tsKI of eath reporting date. If there is obiecbve evxleno of impairment, an impairment loss is rwnised urnler the awrr4Y* twliro li the slatwneth of finan¢ial actNities in whth the initial gain vras wnised. Cowal Community Sports Project Ltd. Company Llmlted by Guarantee Notes to the Flnancial Statements (Coftth￿dj Year ended 27 March 2025 Accounting policies FlnanGial instrumgnts {¢oniinu•thJ For all equty instrumefts regardkss of significan￿, and other financial assets that are individually 5igntficanl, these are assessed indivKkualty ft)r impairment. Other financial assets are either assessed individualty or group&l ¢Jn the basis of similar eredrt risk characteristi￿. Any reversals of impaim)ent are recognised immediately. to the extent that the reversal does not utl in a carrying amount of the financial a55et that exceeds what the carying amount would have been had the impaimient not previously been recognised. Limited by guarnntse Cowal Communty Sports Project ￿Mited ig a LX)mpany Fimited by guarantee and therefore has no share capttal. Donatlons and legacles Unrestritsj Totsl Fund8 Unreslrirted Total Funds Funds 2025 Funds 2024 Donations Donations 59 59 13 13 Expgnditurn on charitabl• activitios by fund typtr Unrestrirt￿ Totsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 SUpp￿)rt o)sts 13 13 Expendlturg on charitablg activiti08 by aclivity type Total fund8 2025 Total fund 2024 Support costs Unrestricted Funds 34 13 Analygh of Support co8ts Unrestricted Fund Totsl 2025 Total 2024 General Expenses 34 13 Stsff costs The average head count of employees during the year w8$ Nil (2024.. Nil). Cowal Community Sports Project Ltd. Company Limited by Guarantee Notes to th• Financial Ststements (cwth Y￿r end￿ 27 March 2025 Staff costs {c No employee [￿l¥ed employee ber* of more than £60,IJOO during the year {2024.. Nill. 10. Trustso romunoratlon and expen¥ No rernuneration or other iEneffts fI￿n a)N)k)yn￿rt with ts tharity or a related entity were re￿Ned by the trustees. 11. Credltor8: amounts falllng due T*lthin on• y••r 2025 2024 Other ¢redito 13 12. Analys18 of charltable funds Unrestricted lunds Al InrxTh ExpeThJiture 27 March 2025 28 Mar(* 2024 General fvnds 15 59 (34) At 28 March 2023 At InctTh E4)ernlrture 27 March 2024 General funds 15 13 (13) 15 13. Analysis of net a•8ets bet¥Men funds UnthIC￿ Total Funds Funds 2025 Current assets Creditors ￿$$ than 1 year Net assets 74 {34) 40 74 {34) Unrestrithd Total Funds Funds 2024 Current assets Creditors than 1 year 28 {13) 15 28 {13) 15 -10-