Charlty rngl8tration number SC035617 (Scotland MONIFIETH COMMUNITY RESOURCE GROUP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
MONIFIETH COMMUNITY RESOURCE GROUP LEGAL AND ADMINISTRATIVE INFORMATION Trustses (Appointed 28 May 2025) (Appointed 28 May 2025} (Appointed 28 May 2025} (Appointed 28 October 2025) (Appointed 8 December 2025) Charlty numbor (Scotland) SC035617 Prlnclpal addr•8S Audltor Findlays Audit Limited 11 Dudhope Terrace Dundee DD3 6TS 8ank•f8 Iiirgln Money 718 High Slreel Dundee DD1 1SS
MONIFIETH COMMUNITY RESOURCE GROUP CONTENTS Page Trustees, report Statement of trustees. responslbilities Independent auditor's report Statement of financlal activitles Balance sheet Statement of cash flows 10 Notes to the financial statements
MONIFIETH COMMUNITY RESOURCE GROUP TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The flnanclal statements have been prepared In accordance wlth the accountlng policles sel oul in note 1 to the financial statements and comply with the charity's governing documenl. the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charrties SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 102)" ObJ•ctlv•• and actlvltl•• Project developmont No build is ever straighfforward and ours certalnly was not Slralghttorward, but we had a wonderful team of professionals with AIM Design Dundee and Algo Construction Lld. Working with them all was a wonderfully collaborative experience. We had regular site meetings. professional team meetings and meetings with Angus Council throughout. The inclusion of the Library meant we had an additional layer of communication and officialdom to deal with Our original entry date was mid Juty 2024. We stUtted from anticipated date to anticipated dale and eventually gol the keys on 2nd December 2024. On 22nd September, with the agreement of Algo Construction who were still in lull possession of t building, we were able to hold our Celebratory Opening event with our l¢xal pipe band and the Lady Provost of Angus in attendance. The weather was kind and ther• wa8 a great turnout. We were featured on STV news and local radio. The MAC was on the map. We opened for business on Monday 6th January 2025. Becomlng oporatlonal Job descriptions, inteNiew procedures and operational protocols were developed and appointments made follomng slwctured recruitment process. Since openin9, the centre has moved steadity towards full operation, with the café becoming an important part of the MAC'S offer to Ihe local community and attractlng growlng repeat custom.. logether wlth the Ilbrary and community activity cla55e5. This progress has been made possible Ihrowjh the combined efforts of staff and volunteers across all areas of the organisation, whose Commitment and flexibility have been central to eslablishing the MAC as a welcomin9 and sustainable comrnunity regour¢e.' Golng forward MCRG is in a healthy financial position and wrth our new CM in place the lulure is sound and secure . Relationships we have developed over a number of years are now bearlng fruit and the services being offered In Ihe MAC are widening io include all groups wlthln the communlty. We've successfully introduced Art the MAC to give local artists a showKa8e. The Library is to open to the public which will increase footfall and lurther raise awareness of our existence, Establishing Gym @the MAC has been problematic but we now have robust plans in place for its running and look to il generating a healthy revenue stream. Achlovements and perfomiance Over the penod of this report we oversaw the build to completion and the staffing of what we all now know as the MAC Monifieth Activity Centre. A period of many highs and many lov, huge frustrations and momenls of intense joy as we realised the dream we had worked together for, for more th8n 12 years and welcomed the community to the spaces designed round them. Essentially slx very committed and hard working individuals saw thi5 project Ihrough from slart lo finish, No small achievement for a Gommittee lo hold together for that length of time and ultimately achieve SUCGess.
MONIFIETH COMMUNITY RESOURCE GROUP TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal r•vl•w The financial statements 8how a surplu8 in the year of £1.358,188 (2024 - £810.483 as restated). At the year end £79,479 (2024 £66.334 as restated) was classed al unrestricted reierv•i. At the year erKI, reitricted fund8 totalled £2,153,246 (2024- £808.203 as restated). It is the policy of the tharity that unrestricted fiJnd8 vthieh have not been designated ft>r a sp•cific use shixjld be maintained at a tevel equivalent kn between three and six month's expenditijre. The tru8tees consider that reserve8 at this level 111 enaure that, in the event of a significant drop in funding, they will be able to continue the charity'8 current activities vthile consideration Li given to ways in leh additional funds may be raised. This level of reserve8 ha8 been maintained throjghout the year. 8tnictUM, gov•manc• and m•Ngom•nt Monifieth Community Resource Group 18 a registered SCIO V•ith OSCR - Registration Number SC035617. It's objects are to promote the benefft of the inhabitants of Monifieth and its environs withiyjt distinctii)n of sex. aexuality, political, religious or ottr opinions by associating the local statutory authorities, voluntary organization8 inhabitants in a common effut to advance education and to wovide facilities. or assist i) the provision of facilities, In the interest of social welfare for recreatlon arKI other leisu-t1rne occupation 80 that tt)eir conditions of Iwe may be Improved. In lurtherance the01, bLrt not othewise, Ihe Group shall ¥eek to estsblish, malntain and manage a communlty centre for thafltable actlvltles womoted by the group and Its constituent members. The trustees who served durlNJ the year and up to the date of 8lgnature of the flnanclal Statements vKre: (Re8lgned 27 October 2025) (Resigned 21 February 20251 (Resigned 29 September 2025) (Resigned 28 May 2025) (Resigned 28 May 2025) (App(xnted 9 September 2024 and resigned 23 February 2025) (Appointed 28 May 2025) (Appointed 28 May 2025) (Appointed 28 May 2025) (Appointed 28 May 2025 arKI resigned 27 October 2025) (Appointed 28 May 2025 arKI resigned 27 October 2025) (Appointed 28 May 2025 arKI re8wned 27 October 2025) (Appointed 28 October 2025) (Appoinled 8 December 2025) Rocrullm•nt and appolntm•nt of tnMtM• The Trustees are appnted from the Membern at an Annual General Meetlng. The truslees, report was approved by the Board of Trustees. us 3 February 2026
MONIFIETH COMMUNITY RESOURCE GROUP STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities In Scolland requlres the trustees to prepare financial statements for each flnanclal year which give a true and fair view of the slate of affair5 of the charily and of the incoming resources and application of resources of the charity for that year. In prepadng these financlal statement5, the trustees are required to.. select suitable accounting poliGies and then apply them consistently; observe the melhods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent.. stale whether applicable accounting standards have been followed. subject to any material departure5 (Slsclosed and explained in Ihe financial stalements., and prepare the financial statements on the going concern basis unless it is inappropnate to pr¢sUr that Ihe charity will continue in operation. The trustee5 are responslble for keeping sufficient accounting records that dijdose with reasonable accuracy at any tlme the financi81 position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment Iscotland) Act 2005, the Charities Account$ (Scotlandl Regulations 2006 and the provisions of the trust deed. They are also responsible for Safeguarding the assets of Ihe charity and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities.
MONIFIETH COMMUNITY RESOURCE GROUP INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MONIFIETH COMMUNITY RESOURCE GROUP Oplnion We have audited the financial statements of Moniffieth Community Resource Group (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial stalements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financlal Reportlng Standard 102 The Financial Reportlng Standard applicable In the UK and Republlc ol Ireland Iunlted Kingdom Generally Accepted Accountlng Practice). In our oplnlon, the flnanclal slatemenls.. give a true and fair view cf the stale of the charity's affairs as at 31 March 2025 and of Its Incomlng resources and application of resources, lor Ihe year then ended.. have been property prepared In accordance wlth Unlted Klngdom Generally Accepted Accounting Practice, and have been prepared in accordance with the Charities and Trustee Investment (Scotlandl Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. Basls for oplnlon We conducted our audll In accordance wllh Intematlonal Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit ol the lin8nci81 sl8t8menls section ol our report. We are independenl of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Slanclard, and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe that the audlt evidence we have obtalned is sufficlent and appropriate to provlde a basls for our opinlon. Concluslons relatlng to golng con¢•rn In auditing the financial statements, we have concluded that the trustees, use of the golng ¢oncem basls of accounting in the preparatlon of the financlal 3talemenls Is approprlale. Based on the work we have performed, we have not identified any material uncertainlies relatin9 to events or conditions Ihat, individually or collectively. may cast significant doubl on the charity's ability to continue as a going ¢oncem for a period of at least twelve months from when the financial statements are authorised for issue Our responsibllitles and the respon$ibilitie5 of the trustees wrth re5pe¢l to going concern are described in the relevant sections of this report. Other Infomiatlon The other infomation comprises the information included In the annual report other than the finarKial statements and our auditor's report thereon. The trustees are responsible for the other infomialion Gontained within the annual report. Our opinion on the financial statements does not Cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read Ihe other information and, in doing so. consider whether the other information is materially inconsistent wth the financial statements or our knovAedge obtained in the course of the audit, or otherwise appears to be materially misstated. If we Identify such material inconsistencles or apparent material mlsslalements. we are requlred to determine whether this gives rlse lo a materLal misstatement in the financial statements themselves If, based on the work we have performed, we conclude that there is a material misstatement of thi8 Other information. we are required to report that fa¢t. We have nothing to report in this regard. Matt•r8 on whlch aro rgqulred to r•port by •xceptlon We have nothing to report in respect of the following matters in relation to which the Charlties kcounts (Scotlandl Regulations 2006 requires u$ to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the truslees, report., or proper accountin9 record$ have not been kept: or the financial statements are not in agreernent with the accounting records.. or we have not received all the infomiation and explanations we require for our audit.
MONIFIETH COMMUNITY RESOURCE GROUP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MONIFIETH COMMUNITY RESOURCE GROUP Rgspon$lbllltles of trusts?$ As explained more fully in the statement of trustees, responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation cf financial stslements that are free from material misstatement. whether due lo fraud or error. In preparing the financial statements. the Iru5tees are Tesponsible for assessing the charity's ability to conlinue as a going concern. disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease cperations, or have no realistic atternative but to do so. Audltor'¥ r•sponslbllltles for tho audlt of the flnanclal statements We have been appointed a¥ auditor under section 44(1)(c) of the Charities and Trustee Investmenl (Scotlandl Acl 2005 and report in a¢cordanGe wrth the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain re830nable assurance about whether the finanGial 3tatement¥ as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level ol assurance but is not a guarantee that an audit conducted in accordance th ISAS (UK) will always detect a material mlsslatement when it exists. Misstatements can arlse from fraud or error and are considered materlal if, Indlvidually or In the aggregate, they could reasonably be expected to influence the economic decisions of users laken on the basis of these financial slatements. The extent lo whlGh our procedures are capable of detecting irregularities, including fraud, 1$ detailed below. Irregularltles. Includlng fraud, are instance of non-compliance wlth laws and Tegulatlons. We design procedures In Ilne wllh our responsibilities, outlined above. lo deleGI material mi$stalemenls in respect of irregularities, Including fraud. The extent to which our procedures are capable of detecting irregularilies, including fraud ond non compliance with law8 and regulations is dolailad below. The audit team has the appropriate skllls and expertlse required and through dlscusslons wilh management and trustees and knowledge of the sector to ensure any non compliance is recognised and all necessary disclosures are made. The controls in place help the charity mitigate the risk of fraud and also aids them in highllghting any instance$ of fraud that might have occurred. We assess the susceptibility of the chanty's financial statements to material misslalement Including obtalnlng an understandlng of how fraud and non compllance wlth laws and regulallons may occur. Making enquiries of management & directors about any known or 8u3pe¢ted instances of non complian¢ vAth law$ and regulations, including GOPR, health and safety, food standards and fraud. Enquires of rnanagement & trustees as to where they consider there is a susceptibility lo fraud and their knowledge of how actual, suspected and alleged fraud might occur. Review of any correspondence with regulators including OSCR & HMRC. Challenging assumptions and judgements made by management in their significant accounting estimates- depreciation and allocatK)n of fvnds and support costs as accounting estimates during the audit Auditing the risk of management override controls, including through testing of journal entnes and other judgments for appropriateness. Review of any areas where there Is potentlal of management bias, large & unusual transactions and the risk of undisclosed related parties. Performed analytical procedures to identify any unusual transaction8
MONIFIETH COMMUNITY RESOURCE GROUP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MONIFIETH COMMUNITY RESOURCE GROUP Because of the field In which the client operates V identified the following areas as those Most likely to have a material impact on the financial statements., Direct Impact on Financial Statement8 The Charities Accounls (Scolland) regulations 2006 SORP- FRS 102 Charities & Trustee Investment (Scotland) Act 2005 Indirect Impact on Financial Statements GDPR Health & safety at work Act Charities Constitution Employment Law Employers Liability Act 1969 Food Salely Act 1990 Hygiene (Scotlandl Regulations 2006 Building (Scotlandl Regulatlons 2004 Because of the inherent limitations of an audit, there 1$ a risk that we wll not detect all irregulantie5, including those leading to a material misstatement in the financial slatemenls or non-compliance with regulation. This risk in¢rea$es the more that compliance with a law or reguSation is removed from the events and transactions reflected in the financlal statements, as we wlll be less likely to become aware of instances of non-compliance. The risk is also greater regaidlng irregularities occurring due to fraud rather than error, as fraud Involves Intenllonal concealment, for9ery, collusion, omission or misrepresentation. We communicate wlth those charged with governance, trustees regardlng, among other matters, the p&nned scope and timing of the audil and significant audll findlngs, includlng any slgnificant deficiencies in internal control that we Identify durin9 our audit. A further descrlptlon of our responslblllties 18 available on the Financial Reporting Council's website al.. httPS.'II wvM.frc.or9.uklauditor5re5pon3ibilitKis. This description fomis part of our audltor's report. Oth•r matt•rs The financial statements were not audited In the prior year. Therefore addllional audit procedures have been carried out lo oblaln sufficlenl appropriate evldence that the opening balances do not Contain any m13slatements thal materially affect the current period's financlal statements. Use of our r•port Thls report Is made solely to the charity's trustees, as a body, In apxordance wllh Regulation 10 of the Charitles Accounts (Scotlandl Regulations 2006. Our audlt work has been undertaken so that we mlght state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees a$ a body, for our audit work, for this report, or fcr the opinions we have formed. Flndlay¥ Audlt Llmlted Istatutory Audltor) Chartered Accountanls 11 Dudhope Terrace Dundee DD3 6TS 3 February 2026 Findlays Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as audilor of a company under section 1212 of the Companies Act 2006.
MONIFIETH COMMUNITY RESOURCE GROUP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current flnanclal year Unrnstrlct•d funds 2023 R•strlcted funds 2025 Tot•1 Total 2025 2024 Notes as restated Income from: Donations and legacies Charitable activities other trading activities 40,108 12,545 38,949 1,390,999 1,431.107 12,545 38,949 854.531 13.017 Total incorne 91,602 1,390.999 1,482,601 867,548 Expendlture on: Raising funds Chanlable activltles 23,221 55.236 23,221 101,192 45,958 57,065 Total axp•ndlturn 78,457 45.956 124,413 57,065 Net Incomo and movement In fund8 13,145 1.345.Q43 1,358,188 810.483 R•conclllatlon of fund•: Fund balances at 1 April 2024 66,334 808,203 874,537 64,054 Fund bal•nce• at 31 Mar¢h 2025 79,479 2,153,246 2,232,725 874,537 The statement of financial activities includes all gains and10sses recognised Sn the year. All income and expenditure derive from continuing activities. The notes on pages 11 lo 21 form part of these financial statements.
MONIFIETH COMMUNITY RESOURCE GROUP STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prlor flnanclal year Unre$trlcted funds 2024 Restrlcted funds 2024 ToLI1 2024 Not•s a$ r•$tated 48 restated a8 restated Income from.. Donations and legacies Charitable activities 142 13,017 854,389 854,531 13,017 Total Incorne 13,159 854,389 867,548 Exp•ndlture on: Charitable activltie$ 10,879 46,186 57.085 Total ?xp•ndltur• 10,879 46,186 57.065 Not Income and rnovernent In fund8 2,280 808,203 810,483 Roconclllatlon of funds: Fund balances at 1 April 2023 64,054 64,054 Fund balances at 31 March 2024 66,334 808,203 874,537
MONIFIETH COMMUNITY RESOURCE GROUP BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Flxad assets Tangible assets •$ rostatod 802,537 15 2,110.509 Current assets Slocks Debtors Cash at bank and in hand 16 17 2,500 1,682 168.090 40,118 38,532 172.252 78,650 Credltorn: amounts falllng duo wlthln ono yoar 18 {50,036) 16.650) N•t curr•nt a•8•ts 122,216 72,000 Total a•••t• loss current Ilabllltl•s 2,232.725 874,537 The funds of the ¢harlty Restricted income funds Unrestricted lunds 19 20 2,153.246 79,479 808,203 66,334 2,232,725 874,537 The notes on pagés 11 to 21 form part of Ihese financlal statements. The financial statements were a roved t Ine trustees on 3 February 2026 trustee
MONIFIETH COMMUNITY RESOURCE GROUP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes as restatsd Cash flows from operating activities Cash generaled frorn operations 23 1,449,832 811,133 Invg8tlng actlvltleg Purchase of tangible fixed assets {1,320.074) 1802,537) N•t ¢a•h u••d In Investlng actlvStl•s 11,320.0741 1802.537) Net cash gonorat•d frorn flnanclng actlvltl N•t Incr••se In cash and cash •qulval•nts 129,558 8,596 Cash and cash equivalents at beginnlng of year 38,532 29,936 Cash and cash equlvalents at end of year 168,090 38.532 The noles on pages 11 to 21 form part of these financial stalements. 10-
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcl•s Charlty Snfomiatlon Monifieth Community Resource Group is a reglstered Scottish Charitable Incorporated OrganiSatn, it constitutes a public benefit entity and reglstered in Scotland. Details of its principal office can be found on the officers and advisors page. 1.1 Bas1• of preparatlon The financial statements have been prepared in accordance wrth the ¢harity'S governing document, the Charilies and Twstee Investment {S¢otland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Chanties SORP "Accounling and Reportin9 by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts In accordance with Ihe Flnandal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared In slerllng, whlch Is the funclional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financlal statements have been prepared under the historical Gost convention. The principal aGGounting policies adopted are set out below. 1.2 Golng concern At the Ilme of approwng the financlal slalements, the tru$tee$ have a reasonable expectation that the charity has adequate resource$ to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting In preparing the financlal 8tatements. 1.3 Charltablo funds Unrestricted funds are available for use at the discretion of the trustees in fvrtherance of their charitable objectives. Re51ricled fund5 are subjecl lo Specif conditions by donors or grantors as lo how they may be u¥ed. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognlsed when the charily15 legally entllled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donatior15 are recognised on receipt. Other donatlons are recognised once the Gharity has been notified of the donation, unles3 performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on reGeipt or otherwise if the charity has been notified of an impending distribution. the amount is knowm, and ceIpt is expected. If the amount is not known, the legacy is treated as contingent a65et. Grant5 including govemment grants are included in the Slatement of Financial Activities on a receivable basis. The balance of in¢ome received for specific purposes but not expended during the period is Shown in the relevanl funds on the Balance Sheet. 11
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcies (Contlnued) 1.5 Exponditure Expenditure is recognised once there is a legal oi Gonstructive obligation to transfer economic benefit to third party, It is probable that a transfer of economic benefits will be required in settlement, and the amount ol the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dIrt costs and Shared costs. includlng support cosls Involved In undertaking each activity. Direct costs attributable lo a single activity are allocated directly to thal activity. Shared c0515 which contribute to more than one activity and support Costs which are not attributable to a single activity are apportioned been those activilles on a bass consistent with the use of resources. Central staff Costs are allocated on the basis of time Spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 T•nglblo fix•d assot• Tangible fixed assets are initially measured at co$1 and ¥ubsequently measured al cost or valuation, nel of depreciation and any impaimient losse8. Depreciation is recognised so as to wrtte off the co¥t or valuation of asset8 less their resldual value8 over their Useful lives on the following base8'. Freehold land and buildings Fixture$ and fittings 2% Straight Line 200h Straight Line The gain or lo$¥ arising on the disposal ol an asset Is determined as Ihe dlfference between ihe sale proceeds and the carrying value of the a$?et, and18 reco9ni3ed in the 8tatement of financial a¢tivities. 1.7 Impalrment of fixed assets Al each reporting end date, the charity revlews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such IndatIOn exists, the recoverable amount of the asset is estimated in order to delermine the extent of the impairment loss {rf any>. 1.8 Stocks Stocks are stated al the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringin9 the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net reali5able value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing. selling and dislribulion. 1.9 Cash and cash equlvalentg Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings In current Ilabllitles. 12
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policie5 {Continued) 1.10 Financial instruments The charity has elected to apply the provlsions of Section 11 'Basic Financial Inslrumenls, and Se¢lion 12 'Other Financial Instruments Issues, of FRS 10210 all of its financial instrument3, Financial instruments a reco9nised in Ihe charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Flnanclal assets and Ilablllties are offset, wlth the nel amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on 8 net ba315 or to realise the asset and Settle the liabilty simultaneously. Baslc Ilnanclal a88et8 Basic financial assels, which include debtors and cash and bank balances, are initially measured at transaction price including transaction c03ts and are Subsequently carried at amortised ¢o$t using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of Interest. Financial assets elassified as receivable within one year a not amortised, Baslc Ilnanclal Ilabllllies Basic financial liabilities. Including eredilofs and bank loans are initially recognised al transaction price unless the arrangement constitutes 8 financing transaction. where the debl instrument measured al the piesent value of the future payments dlscounted al a market rate of inlerest. Financial liabilitles dassified as payable within one year are not amortised. Debl instrument8 are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or sepdices that have been acquired in the ordinary course of operations from Suppliers. Amounts payable are classified as Current liabililiej if payment 1$ due within one year or less. If nol, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction pn'ce and subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabllltle8 Financial liabilits'es are derecognised when the charity's contractual obligations expire or are dischar9ed or cancelled. 1.11 Employee bonofits The cost of any unused holiday entitlement is recognised in the period in whh the employee's services are received. Termination benefrt$ are recognised immediately as an expense when the charlty Is demonstrably committed to terminate the employment of an employee or lo provlde termlnation benefils. Chang• In accountlng policy The financial statements for the current year have been prepared on an accruals basls. The prior year's accounts were prepared on a receipts and payments basis. To ensure the comparatives are meaningful consistent, the prior year figures have been restated to reflect the transition to Ihe accruals basis. The restatement increased total funds at 31 March 2024 by £39.468, bringing them to £874,537 (previously £835,069). Of this adjustment, £34,118 relates to reserves brought foward into 2024. with the remaining £5,350 representing the impact of the change on the 2024 reserves. Further information on the restatement can be found in note 25. 13-
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltlcal accountlng e3tJmates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements. estimates and assumptions about Ihe carrylng amount of assets and liabilities Ihat are not readily apparent from other sources. The estimates and associated assumptions are based on historical experienGe and other factors that are considered to be relevant. Actual results may differ from these e8timate$. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountin9 estimates are recognised in the period in which the estimate is revised where the revlsion affects only that perlod, or In the period of the revision and futUTe periods where the revi5iofb affects both current and future periods. Key sources of estlmallon unc8rtalnty Dopreclotlon Tangible fixed assets are depreciated over a period to reflect their eslimaled useful lives. The applicability of the assumed Ilves Is reviewed annually, laking Into account lactor$ SUGh as physical condition. maintenance and obsolescence. Fixed assets are also assessed as to whether there are indicators of impaiment. The assessment Involves consideration of the economic viability of the purpose for wthich the asset is used. Incomo frorn donall¢n• and legaclo8 Unre8trl¢tsd Restrlcted funds funds 2025 2025 Total Unro•trlct8d Restrl¢t•d funds funds 2024 2024 Total 2025 2024 as r•8tat•d as restat•d as r•8tated 142 142 854,389 Donallons and glfts Grants 4,200 35.908 1,390.999 4,200 1.426.907 854.389 40,108 1,390,999 1.431,107 142 854.389 854.531 Grants Angus Council Capilal Fund Roberstons Trust Tayside Heallh Board Northwood Charitable Twst E B Scolland Ltd Scotti3h Hydro Electric Charitable Trust The National Lottery Hill¢rest Foundation Angus Council 1,292.799 1,292,799 12,000 654.639 108.000 5,500 654.639 108.000 5.500 12,000 16,500 50.000 16,500 50,000 19.750 19.750 78,200 20,000 78,200 23.908 20,000 3,908 20,000 35.908 1,390,999 1,426,907 854,389 854,389 14-
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from char6lable activbtl•8 Unrestrlcted funds 2025 Unregtrlcted funds 2024 Charltsble actlvltles Hall rentals Fundraisln9 activlties 10,570 1,975 10,619 2,398 12,545 13,017 Incom• from other tradlng aGtlvltle$ Unrestrlcted Unr•8trlcted fund• funds 2025 2024 Cafe sales 38,949 Exp•ndlture on ral•lng funds Unr•8trlet•d Unrogtrlcted fund• nds 2025 2024 Tradlng costs Card fees Food and drink Staff costs 530 15,416 7,275 23,221 15
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expondlture on Charltable actlvltles Charitable a¢tlvltl•8 2025 Charitable actlvltles 2024 Direct Costs Staff costs DepreGiation and impairment Building Project Rent Eleclriaty Insurance Repair$ and maitenance Cleaning Fundraising costs Sundry expenses as re3tat&d 28,312 12,102 3,462 2.112 22,245 1,283 14,771 2,484 46,187 2.112 7,046 238 256 1.056 138 32 4,101 90.872 57,085 Share of support and governance costs (see note ) Governance 10,320 101,192 57,oe5 Analy818 by fund Unrestricted fund$ Restricted funds 55,236 45,956 10.879 46,186 101,192 57,065 N•t movement In funds 202S 2024 The nel movement In funds Is stated after chargingl{crediling)'. Fees payable for Ihe audit of the charity's financial statements Depreciation of owned tangible fixed assets 9,600 12,102 10 Audltor's remunoratlon Fees payable to the charity's auditor and associates.. 2025 2024 For audit s•rvlG?s Audit of the financial statement5 of the Charity 9,600 11 Truste•s None of the trustees lor any persons connected with them) received any remuneration or benefils from the charity during the year. 16-
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Ernploy•é$ The average rnonthly number of employees during the year was.. 202S Numbor 2024 Numb•r Employment Gosts 2025 2024 Vvages and salarles 35,587 There warn no amployeos whose annual remuneration was more than £60,000. 13 T•x4tlon The charity is exernpt from taxation on it8 activities because all its income is applied for charitable purposes. Trading income falls bèlow the small tradlng exemption and therefore no corporation lax is payable for the year. 14 Rent of Land The land on which the property 1$ situated is held under a 99.y•ar lease from Angus Council. Thè lease is set at a nominal rental value. This is considered to be below market value however it is unlikely that a reliable measurement of the rnarkel value of the rent can be obtained. In the absence of a reliable valuatson, no gift-in-kind income or corresponding expense has been recorded in these financial statement$. 15 Tanglble fixed a88•ts Fr•¢hold land Flxturès aml and bulldlngs flttlng8 Total Cost At 1 April 2024 Additlons 802,537 1,308,149 802.537 11,925 1,320.074 At 31 March 2025 2,110,686 11,925 2,122,611 Depreclatlon and Impalrmont Depreciation charged in the year 10,553 1,549 12,102 At 31 March 2025 10,553 1,549 12.102 Carrylng amount At 31 March 2025 2,100,133 10,376 2,110,509 At 31 March 2024 802,537 802,537 17-
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Sto¢k8 2025 2024 Raw materials and consumables 2.500 17 D•btorn 202S 2024 Amount• falllng duo wlthln on• yoaf: as r•*lated Trade debtors Other debtors Prepayments and accrued income 1,662 34,118 6.000 1,662 40,118 18 Credltors: amounts falllng du• wlthln on• yèar 2025 2024 as r••tat•d Other taxation and social securty Trade creditors Other creditors A¢¢ruals and deferred income 3.841 3,262 30,737 12,196 6.650 50.038 6.650 19 R•strlcted funds The restricted funds of the charity comprlse the unexpended balances of don8tion$ and grants held on trust subiecl lo specific condilions by donors as to how they may be used, At 1 Aprll 2024 Incomlng resource¥ Resources At 31 March expended 2025 Capital- Community Centre Building The National Lottery - Salaries The National Lottery - Gym 808,203 1,312,799 60,000 18,200 (20.869> (16.145) 18,942) 2.100.133 43.855 9.258 808,203 1.390,999 (45,956) 2,153.246 Prevlous year: At 1 Aprll 2023 Incomlng rosources Resources At 31 March expondod 2024 a$ r•)tatsd 808.203 Capital- Community Centre Building 854.389 (46,186) 18-
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 RestrScted funds Iconllnued) ommunSty Centre Bulldlng - Funding towards costs of building the new community centre This fijnding will be offset against future depreciation. The Natlonal Lottery (Salarles) - Funding towards salary costs of the centre manager and engagement officer. Tho Natlonal Lottory (Gym)- Funding towards costs of a gym belng equlpped In the comrnunity centre. 20 Unrojtrlcted funds The unrestrlcted funds of the charlly comprise the unexpended balances of donation5 and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unreslricte(I funds by the truste¢¥ for specific purposes. At 1 Aprll 2024 In¢omlng resources Resources At 31 March expendod 2025 General lunds 6e,334 91,602 178,457) 79,479 Prevlous year: At 1 Aprll 2023 InGomlng rn80urce$ Re8our¢e$ At 31 March expended 2024 as restated 66,334 General funds 64,054 13.159 110,879) 21 Analy•i• of n•t a•s•t8 bOt0n fund• Unre8trl¢t•d fund• 2025 Rostrlctod fvndl 2025 ToL•l 2026 At 31 March 2025: Tangible assets Current assetsllliabilitles) 4,019 75,460 2.106,490 46,756 2.110,509 122.216 79,479 2.153.246 2.232,725 19-
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Analysis of net assets belween funds Iconllnu•d) Unro8trl¢tsd fund8 2024 Restricted funds 2024 Total 2024 as restated At 31 March 2024: Tangible as58ts Current assetsl(liabilities) 802.537 5.666 802.537 72,000 66,334 66,334 808,203 874,537 22 Relatod party tran8actlons There were no disclosable related party transactions during the year {2024 - none). 23 Cash g8n•rated from operatlons 2025 2024 as rostaled 810.483 Surplus for the year 1,358,188 AdJu•tm•nts for: Depreciation and impairment of tangible fixed assets 12,102 Mov•ment• In worklng capltal: IlnGrease) in stocks Decreasel{increasel in debtors Increase in credilors 12,500> 38,456 43,388 (6.000) 6.650 Ca8h generated from 0ratIOnS 1,449,632 811,133 24 Analys18 of changes In net fund* The charity had no material debt during the year. 20-
MONIFIETH COMMUNITY RESOURCE GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 25 Prlor p•rlod adjustment Changes to the balance sheet At 31 March 2024 As prevlously Adjustment report•d As re8tsted Flxed assotS Tanglble assets Current asset8 Debtors due within one year Crndltors duo wlthln one year Other creditors 796,537 6.000 802,537 34,118 6.000 40.118 {6.650) (6,6501 Nel assets 869,187 5,350 874,537 Capital fund3 Income funds Restricted funds Unrestricted funds 808,203 {802,853} 808,203 66.334 869,187 Total equlty 869,187 5,350 874,537 Changes to the profit and lois accounl Porlod onded 31 March 2024 As prevlou$ly AdJu$trnent AB restated r•portod Donations and legacies 848,531 6.000 854,531 Charitable activities 56,415 650 57.065 Net movement in fund8 805,133 5,350 810.483 Prlor year adjustments have arlsen because the previous year's financial statements were prepared on 8 receipts and payments basis. As part of the current audit proce$$, adjustments were required to recognise income and expenses in the correct accounting period and lo record assets and liabilities that were not previously recognised. These adjustments ensure that the opening balances are accurate and consistent with audited financial reporting requirements. 21