Cornpany regIStraOn number: SC263S25 Charlty reglstrauon number.. SC035297 FRASERBURGH FITNESS CENTRE TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 M Squared Accountants Ltd
Fraserburgh Fitness Centre Contents Page Referen and Admlnlstrauve Detalls Trustee5' Report Independent Examinert5 Report staternent of Flnancial Actlvitle5 Ilncluding Income and Expenditure Account) Comparative Stètement of Flnanclal Actlvities Ilncluding Income and Expendlture Accounti Balance Sheet Note5 to the Flnanclal Statements 8-13
Fraserburgh Fitness Centre Reference and Administrative Details For The Year Ended 28 February 2026 Trufjt¢e$ Mr Kevln Corbett Mr Ronald Noble Mr Callum Matoonald Mr Charles Shand Mr Darryn Thomson Mr Douglas Morrlson Company Se¢r¢t?ry Mr Pa1 Greenall Charlty Number SC0352g7 Company Number SC263525 Reglstered Offlce Jarne5 Ramsay Park Moconochie Road Fraserburgh Aberdeenshlre A843 8TH Indepexdent Examlner Mlchael mUrY FCCA M Squared Accountanrs Ltd Bank House Seaforth Street Fraserburgh AB43 9BB Page I
Fraserburgh Fltness Centre Company No. SC263525 Trustees, Report For The Year Ended 28 February 2026 The trustees present their report and the financlal statements for the year ended 28 February 2026. ObJertlvt5 and Actlvltles Alm5 and Ob]ectl¥es The maln obJectlve of the chadty Is to provlde 5POrtlng facllltles and actlvities in Aberdeenshlre, particularfy for the sports of SatorishSdo and other recognised martial arts. Publlc BÈneflt The trustees conflmi that they have censidered the guidance on publlc benefit Issued by the Office of the Scottish Chartty egulator IOSCRI wyhen revlewing the charity'5 a(ms and oblectlve5 and In planning its activltles. The tharity exists to provide sportlng facillties and activities in Aberdeenshlre, particularly In satorfshldo and other recognised martlal art5, for the benefit of the local community. The trustees alm to ensure that these actlvities are accessible te a wide range of partlclpants, includlng chlldren, young people and adults. The chartty delivers publlc benefit through.. Provldlng structured training and coachlng In martlal arts and fltne55 acllvitles Promoting phy51cal health, wellbeing and dlscipline Offerlng inclusive actSvltles wlthln the local cammunlty, Inclu¢lng classe5, events and recreatlonal use ol faciiifies Supporting communlty engagernent through a wlde range of activities and faclllty hlre Member5hlp fees are set at a level that allows the charfty to remaln flnanelally sustalnable whlle stlll belng affordable, and the trustees alm to ensure that no Indlvidual is excluded due to fSnanclal hardshlp where pc55ible. The trustees have given due regard to the orrice of the Scottlsh Charlty Regulator IOSCRI s gvldance on publlc bEllefit Achlevements and Perforniance Maln Achievements The period has been marked by slgniNcant progress and contlnued success, reflectlng the chartty's commltment to enhan¢lftg its servlces and strengthening Its role within the comtnun%ty. The organlsatlcn has remalned nnancially robust, enabling ongolng Investment in improving facllltles and dellverlng high-quality servlces to Its member5. A key development durlng the year was the Introdurtlon of twts laydown sunbed5, whlch proved hlghly popular and generated addltiondl incorne. Thls Income has been reinvested Into sustainèble Inltlatlves, including the installation of thirty solar roof panels together wlth a 15kW inverter system. This Investment has demonstrated strong financlal vlablllty over the past Iwelve months whlle supportlng the charity's commltment to environmentally responsible operations. Member $8tlsfactlon continues to be a prforlty. This has boon supported through a comprehenslve upgrade of gym equipment and the Introduttlon of competitive bodybuildlng opportunities. These enhancements have been well received nd demonstrate the charitys commitment to relnvesting membership Income Into improvlng facllltles, The char*ty's cornbat sport programmes, Including Karate. KlckboxingF Boxing and Judo, have contlnueil to groby. In particular, kickboxlng participants have achieved notable success In competitltsns, wlnnlng multiple titles and hlghllghting the quallly of coaching and tralnlng provldeé. A wide range of weekly actlviiies contlnues to be deSlvered. Sncludlng Dance, Pllate5. Yoga and Tai Chi, alongslde Junlor football and fltness classes. ThÈ expansSon to two hall areas has enabled an Incre3sÈ in chlldren's party booklng5, whlch have pmven partlcularly popular and further support communlty engagement. Plans for an 800-square-rnetre extenslon remain a key strateglc prlorlty. Proposals have been rev15ed to better reflect current market demand and operational needs. The charlty Is currently at rhe eostlng stage and Is actively 5eeklng fundlng to progress the development, Vlhich trvlll support future growth in rnernbershlp and communlty usage. The charlty malntalns an active Presen on social medla platforms, whlch continues to be an effectlve cornmunication tocl. Thls allows engagement wlth existing members and helps attract new u5er5 by provldlng updates on activities and developments. Oesplte wlder economlc challenges, the ¢harSty has continued to perform stronglyt wlth recorded foorfall excEeding 75,000 vlsits dumng the year. Thls reflects both the rlIlence of the organlsation and the ongolng support of the local communlty. Page 2
Fraserburg17 Fitness Centre Trustees, Report (continued) For The Year Ended 28 February 2026 Fln•ndJl Revlew Flnancl•l POSIon The charity rernalned In a finèndolly stable posltlon durln9 the yedr de5plte generating a deNc5t of £30,423 12024.. surplus of £40291. At the year end, totèl funds amounted to E545,980 12024.. E576,4031. Reserves Pollcy The trustees alm to malntain sufficlent reserves to ensu¥e the contlnued operation of the chartty and to provlde a buffEr against unexpected costs or redu£tlon5 In Incorne. At the year end. the charfty held unre5trlcted reserves of £505,950 and restcted reservès of £40,000. structure Governanc• and MaTrag¢ment Trusteè Selectlon Meihods Trustees (who 4re also dSrectors for the purp05e5 of cornpany lawl are appolnted or reappolnted at the Annual General Meetlng. Slatement of Trustees. Respohslbllltles The trustees (who are also the dlrectors of Fra5erburgh Fllne55 Centre for the putposes of company la¥vl are re5ponslble for preparlng the Trustees, Report and the financlal staternents In accordance ¥th applleable law and Unlted Klngdorn Accountlng St8ndard5 Iunlted Klngdoffl Generally Accepted Accountlng Prartlcel. Company law reoulres the trustees to prepare fin4nclal 5taternents for each flnanclèl year. Under company law the trustees must not approve the financlal statement unless they are 5absfied that they glve a true and falr vlew Of the state of affalrs of the charitable cornpany and of the IntDTning resources and appllcation of resources, includlng the income and expenditure, Df the ch4ri13ble company for that perlod. In preparfng the financial statements the tru5tee5 are requlred to.. • select suit8ble accountSng pollcles and then apply them conslstently.. observe the methods and principles in the Charity SORP.. make judgments and accauntlng estlmates that are rea50n4ble and prudent. and prepare the financial siaternents on the 9olng ¢on¢em ba515 unless it is Inapproprk8te to presurne that the cornpanv wlll Contnue in buslness. The trustee5 are responsible for keeplng adequ4te 4ccountln9 records whlch di5c105e with reasonable accuracy at anytlme the rin¥ncial posltlon of the chèritable cornpany and to enable them to ensure that the accounts comply with the Charlties and Trustees Inve5trnent (Scotlandl Act 2005, the Charities Accounts Istotlandl Regulatlon5 2006 and the CompaleS Act 2006. They are also responslble for safeguardlng the ès5ets of the campany and hence for taklng rea50nable steps for the preventlDll and detecllon of fraud and other irregularitles. Small Cornpany Rules Thls report has been prepared In accordance wlth the special provlslons relatlng to companles subleLt to the smoll companle5 re9irne wlthln Part 15 of the Companles Act 2006. The trustees, report was approved by the board of trustees and slgned on it5 behalf by: Mr Kevln Corbett Trustee 1010612026 Page 3
Fraserburgh Fitness Centre Independent Examiner's Report to the Trustees of Fraserburgh Fitness Centre For The Year Ended 28 February 2026 I rtport to the charlty trustEe5 on my exarnlnatyon of the accounts of the Company for the year ended 28 February 2D26. RosponslbSlltles and ba51s of Ileport As the charity trustees of the Company land also Its dlreetors for the purposes of company13wl. you ore re5ponslble for the preparatlon of the accounts In accordan wlth the terms of the Charftle5 and Trustee Investment Iscotlandl Act 2005 and the chatIeS Accounts {Scotlandl Regulatlons 2006 las amended). The charity tru5tee5 consider that the audit requlrernent OF Re9ul•tion 10111 lal to Icl of the 2006 Accounts Regulations does not apply. It Is my responsibility to exomlne the accounts as requlred under 5ectSon 4411) (¢1 of the Act and to state whether particular matters have corne to my attention. My examlnatlon is carrfed out In accordance with Regulatlon 11 of the 2006 Accounts Re9ulaJons. An examlnatlon Include5 revlew of the accountlng records kept by the charlty and a cornparison of the accounts presented w(th those records. It also Includes collslderatlon of any unusual Itern5 or disclosures in the accounts, and Seeks explanatlons from the trustee5 concernlng any such matters. Tht procedures undertaken (Jo not provlde all the evldence that would be requlred In an audlt, and consequently I do not express an audlt oplnlon on the vlew gVen by the accovnts. Independent Fxamlner's 5tat¢rn•nt Slnce the Charity has prepared Its account5 on an accruals basls and is registered In Scotland your exarnlner must be a ernber of a body listed in Regulation 11121 of the Charities Accovnts (Scotlandl Regulatlons 2006 las amendedl. I conflrm that I am quallfled to vndertake the examlnation because I am a member of The AssocSatlon of Chartered Certlfled Accountants. which is one of the listeLI bodies. In the couise of rny examinatlon, no matter has come to my ottentlon whlch glve5 Me reasonable cause to believe that In any materfal respect the requirements.. o to keep accounting records in accordan wlth Secuon 44{11 lal of the 2005 Act and Regulatlon 4 of the 2006 Accounts Regulatlons tu prepare accounts whlch accord wlth the atcountlng records and comply wlth Kegul3Uon 8 or the 2006 Accounts Re9ul3tions have not been rnet, or to which. in my oplnlon, attention should be d¥awn In order to enable a proper understandln9 of the accounts to be reached. Nichael Murray FC 1010612D26 M squared Accountants Ltd Bank Hovse Seèforth Street FraseTburyh AB43 9BB Page 4
Fraserburgh Fltness Centre statement of Financial Activities (Including Income and Expenditure Account) For The Year Ended 28 February 2026 2026 2025 Unre5trtcted Re5trlcted funds funds Total funds Total funds Notes INCOME AND ENDOWMENTS FROM: Other tradlng artivitie5 Investments 216.49C 29 216,490 29 242,561 15 Other 144,853 144,853 85,883 361,372 361,372 32B,459 EXPENDITURE ON: Ralslng funds Charitable actlvltles.. Fltness centre 126,9461 126.9461 134.819) 1299,349) 1299,3491 1289,6111 1326,2951 1326,2951 1324.4301 NEY INCOME 35,077 35.077 4.029 NET MOVEMENT IN FUNDS RECONCXLIATION OF FUNDS.. Total funds brought forward 35,077 35,077 4,029 536.403 40,000 576,403 572.374 TOTAL FUNDS CARRIED FORWARD 17 571,480 40,000 611,480 576.403 The notes on pages 8 to 13 fom part of these financlal stalements. Page 5
Fraserburgh Fltness Centre Comparative Statement of Flnanclal Activities (Includlng Income and Expenditure Account) For The Year Ended 28 February 2026 1025 Unrestrlcttd Restrlcted funds lund$ Total funds Notes INCOME AND ENDOWMENTS FROM., other trading activltles Investments other 242,561 Is 242,561 15 85,883 85,883 328,459 328,459 EXPENDITURE ON: Ralsing funds Charitable actlvSties'. Fitness centre 134,8191 {34,8191 {269,6111 1289,6111 (324,4301 1324,4301 NET INCOME 4,029 4,029 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS., Total funds brought forward 4,029 4,029 532,374 40,000 572,374 TOTAL FUNDS CARRIEO FORWARD 17 536,403 40.000 576,403 The notes on page5 8 to 13 form part of these financlal statement5. Page 6
Fraserburgh Fltness Centre Balance Sheet As At 28 February 2026 2026 2025 Unre5trlcted Restrlcted funds funds Totsl funds Total funds Not¢$ FIXED ASSETS Tangible Assets li 502,702 502,702 518,500 502,702 502,702 518,500 CURRENT ASSErs stocks Debtors Cash at bank and in hind 12 9,245 9,577 65,089 9,245 9,577 105.089 5,542 3,217 L26,367 13 40,000 83,911 40,000 123,911 L35,L26 Credltors: Amounts Falllng Due Wlthln One Yeor 14 IL5,1331 115,133) 111,7231 NET CURRENT ASSETS (LIABILITIES) 68,778 40,000 108,778 123,403 TOTAL ASSETS LESS CURRENT LIABILZTIES 571,480 40,000 611,480 641,903 Credltors: Amounts Falllng Due Afttr More Than One Year 15 16S,S001 NET ASSETS 571,480 40.000 611,480 576,403 FUNDS OF THE CHARITY Restrlcted Funds Unrestrlcted Funds 40,000 571,480 40,000 536,403 TOTAL FUNDS 17 611,480 576,403 For the year endlng 28 February 2026 the charltable company was entltled to exernptlon from audlt under section 477 of the CompanSes Act 2006 relating to small cornpanles. The members have not requlret1 the company to obtaln an audlt In accordance wlth sectlon 476 of the Companie5 Act 2006. The trustees acknDwledge thelr respon51bllitles for complylng wlth the quirements of the Act wlth respert to accounttng records and the preparatlon of accounts. These accounts have been prepared and delivered in accordance wlth the provlslons appllcable to companles subject tu the small companles regitne. On behalf of the board Mr Kevln Corbett Trustee 1010612026 The notes on pages 8 to 13 form part of these flnanclal statements. Page 7
Fraserburgh Fltness Centre Notes to the Financial Statements For The Year Ended 28 February 2026 l. General Infvrmotlon Fraserburgh Fltness Centre is a company Ilmited by guarantee, Incorporated Scotland, reglstered number SC263S25 and reglstered charlty number SC035297. The registered offlce Is Jarne5 Ramsay Park, Maconochie Road, Fraserburgh, Aberdeenshlre, AB43 8TH, 2. Accountlng Pollcles 2.1. Basi5 of Preparatlon of Financial Statements The financial Statements have been prepared in accordance with the Charltle5 SORP IFRS 1021 Accountlng and Reportlng by Charities.. Statement of Recotnmenijed Practice appllcable to charities preparlng their accounts In accordancè with rhe Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021 leffectlve I lanuary 20191" Financ(al Reporting Standard 102 'The Financial Reportlng Standard appllcable In the UK and Republic of Ireland" and the Cornpanies Act 2006. The charitable company Is a Publlc Beneflt Entlty a5 defined by FRS 102. 2.2. ZnEgrnlng Resources Incorne Is recognised when the charity is entitled to the Income ané recelpt Is probable and can be measured rellably. 2.3. Tanglble Flxed A55et5 and Depreclatlon Tanglble fixed assers are measured at cost less aicumulated depreclatlon and any accumulated Impairrnent losses. Depreciation Is provlded at rates calculated to write off the cost of the ftxed assets, less thelr estSmated resléual valve, over thelr expected useful Ilves on the followlng bases.. Land and bulldlngs Solar panels Plant & Machlnery FixtuS & Fittlngs Computer Eoulpment Not depreclated 4% straSght Ilne 25% reduclng balance and 4% stralght Ilne 15% reducing balance 25% reduclno balance 2.4. stocks and Work In Pro9ress Stocks and work In progress are valued at the lower of c05t and net reallsable value after maklng due allowance for obsolete and slow-moving stocks. Cost 15 determined using the flrst-ln, first-out method. Cost Includes all direct costs and an appropriate proportlon of ftxed and varlable overheads. Work progre55 is refiected In the accounts on a eontratt by contract basls by recoidlng turnover and related costs as contract activlty prcgresses. At the end of each reporting perlod stocks are a55e55ed for Impalrment. If an Itern of stock is impaired, the Identlfled stock 15 reduced to ts selling price less costs to complete and sell Hnd an lrnpairment charye Is COgnISed in the statement of financial activitles. Where a reversal of the Impairrnent Is reqUId rhe Impaiment chorge is reversed, up to the orlglnal ImpalrmÉnt loss, and Is recognlsed as a (dit in the statement of financSal actlvlfles. 2.5. Cash and Cash equlvalents Cash and cash equivalents are baslc flnanoal assets and include cash In hand and dEP05its held at call wlth banks, other short-terrn hlghly Ilquid InvÈstrnents that mature in no more than three months from the date of acqulsition and are readily convertible to a known amount of cash wlth insignificant rtsk of change In value, and bank overdrafts. 2.6. Government Grant Government grants are recogni5ed in the statement of financlal actlvltles In èn &pproprfate rnanner that matches them wlth the expendlture towards whlch they ore intended to ntribute. Grants for Immedlate financial sUPPOrt or to cover costs already incurred are recognlsed 5mmedlaiely In the statement of financ131 actlvlues. Grants towards general actlvitle5 of the entity aver a speclflc period are recognlsed In the statement of financial activlttes over that perlod. Grants tobyards ftxed assets are recognlsed over the expected useful Ilves of the related assets and are treated as deferred Income and released to the statement of financial acuvlties over the useful lire of the asset mncerned, All grants in the statement of financlal actlvlties are recogn15ed when all condltlons for recelpt h8ve been cornplled with. Page 8
Fraserburyh Fltness Centre Notes to the Financial Statements (continued) For The Year Ended 28 February 2026 3. Income from Other Tyadlng Actlvltles 2026 2025 Unrestrlcted Unrestrlcted funds fund5 Membershlp substrfjptlon5 Fundraislng events Shop Income 154,117 41,159 21,214 176,286 43,662 22,613 216,490 242,561 4. Investment Income 2026 2025 UnYe$trlrted Unrestricted fund$ funds Bank Interest recelvable 29 15 5. Other Income 2026 2025 Unrestrlctod Unrestrlcted fund$ funds Rental and other Inme from propErtv Sunbed hlre Klt income Solar panels Grant leaSed 13,773 51,982 11,315 2,283 65,500 13,628 60.438 9,965 1,852 144,853 85,883 6. Net Incornel(ExpeTrdltLbre) rhe net income Is stated after charyingllcreditingl.. 2026 2025 Depreciatlon of ianglble flxed assets - owned 20,448 10.261 Page 9
Fraserburgh Fitness Centre Notes to the Financial Statements (continued) For The Year Ended 28 February 2026 7, Analy51s of Expendlture 2026 Actlv5tle5 undertaken Ire¢tlv Support costs (see note 81 Total Ralsing fund5 Fitness centre 26,946 211,333 26,946 299,349 88,016 238,279 8B,016 326,295 2025 Act5vlt]es undert•ken dlrectly Support ¢osts (see note B} Total Ralslng Funds Fltne5s centre 34,819 202,314 34,819 2B9,611 87,297 237,133 87,297 324,430 8, Support Costs 2026 Fltness ¢entre Employee costs Premlses expen5e5 General admlnlstratlon 127 42,046 17,038 20,448 6,152 2,205 Depreciation Interest payable Governance c05t5 88,016 2025 Fltness centre Ernployee costs Premlses expenses General admlnistratlon Depreclatlon Interest payable Governance costs 1,864 36,746 31,198 10,261 4,348 2,880 87,297 Page LO
Fraserburgh Fltness Centre Notes to the Financial Statemerbts (continued) For The Year Ended 28 February 2026 9. Independent Exarnlner's Remuneratlon 2026 2025 Independernt exarnlnatlDn of the nnanclal staternents 2,205 2,880 lo. Average Number of Employee$ Average number OF ernployees durlng the year was.. 13 12025.. 131 11. Tanglble Assets Land & Property Solor panels Plant & Machlnery Flxture$ & Flttlngs bulldlngs C05t As at l MaKh 2025 Addition5 420,822 33,750 180,781 4,650 29,040 A5 at 28 February 2026 420,822 33,750 185,431 29,040 Depreclatlon As at l March 2025 12,428 1,350 113,329 17,482 22,948 913 Provlded during the perlod As at 28 February 2026 13,778 130,811 23.861 Net Book V8lue As at 28 February 2026 420,822 19,972 54,620 5,179 As at l March 2025 420,822 21.322 67,452 6,092 Computer Equlpment Totsl Cost As at l March 2025 Additions B,117 672,510 4,650 As ar 28 February 2026 8,117 677,160 Deprecration As at l March 2025 Prcvlded durfng the perlod 5,305 703 154,010 20,448 As at 28 February 2026 6,008 174,458 Net Book Value As at 28 February 2026 2,109 502,702 As at l Morch 2025 2,812 518,500 Page 11
Fraserburgh Fitness Centre Notes to the Financial Statements (contlnued) For The Year Ended 28 February 2026 12. Stockg 2026 2025 srock 9,245 5,542 13. Debtors 2026 20Z5 Due wlthln one year Other debtors 9,577 3,217 14. Credltors: Amounts Falllng Due Wlthln Qne Year 2026 2025 Trade credltar5 other credltors Taxatlon and soclal seturity Accnjals and deferred income 7BO 4,212 3,416 6,719 1,970 4,696 2,281 2,776 15,133 11,723 15. Credltors: Amounts Falllng Due After More Than One Year 2026 2025 Other credltors 65,500 16. Penslon Commltments The charitable cornpany operates a deflned contrlbutlon pension scherne. The assets of the scheme are held Separately frorn those of the charltable company In an independently idminlstered fund. During the year the charge to the ststement of flnanclal acuvities In respect of defined contrlbutlon schemes was £2,842 12025.. E2,7931. At the balance sheet date contrlbutlons of ENIL were due to the furt and are Included In credltors, 17. Movement Sn Funds Asat28 February 2026 Asati March 2025 In¢om• Expendlture Unrestrlcled funds General.. General unrestrScted fund Restricted funds EJ(ten5ion 536,403 361,372 1326,2951 571,480 40,000 40,000 Total lund5 576,403 361,372 1326,2951 61L,480 Page 12
Fraserburgh Fltness Centre Note5 to the Financial Statements (continued) For The Year Ended 28 February 2026 Asat28 February 2025 Asatl M4r¢h 2024 Income Expendlture Unr¢strl¢ted funds General.. General nstrICted fund 532,374 328,4S9 1324,4301 536,403 Restrl¢t¢d funds Extension 40,000 40,000 Total fund5 572,374 328,459 1324,4301 576,403 18. Transactions wlth Trustee$ None of the trustees recelved any remuneratlon or any other beneflts frorn an employment wlth the charity or a related entlty durlng the current or prevlous year. No trustee expenses have been Incurred. 19, Related Party Dl$¢losure5 There have been no related party transactlons In the reportlng perlod that requlre dlstlosure. 20. Company Ilmltsd by guarontee The company Is limiied by guarantee and ha5 no share capltal. Every member of the company undÈrtèkÈs w contribute to the assets of the cornpanyl in the event of a windlng Upi such an amount as may be requlred nat exceedlng £1. Page 13