Charlty ragistratlon numbar SC036102 Company reglstratlon number SC276155 INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Bamett G Fyfe K Mason l Megson D Milroy J Morrison L Stewart C Forbes P Thomas A Chisholm (Appointed 16 May 20251 (Appointed 29 January 20261 Key management personnel Craig Maslerton Daniel Lamond Chief executive officer Trust manager Country of Incorporallon Uniied Kingdom IScotl8ndl SC276155 Charlty regl$tratlon Seotland SC036102 Reglstered offico ICT Community Hub Culdulhel Road Invemess IW2 6AD Audltor MacKenzie Kerr Limited Chartered Accountants and StaluloryAudilor Redwood 19 Culduthel Road Inverness IV2 4AA Bankers The Co-operative Bank 29 Gordon Street Glasgow G1 3PF Sollcitors Brodies LLP Clava House Cradlehall Business Park Inverness IV2 5GH INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT CONTENTS Pagg Chaiman's Report Tru$lees' report Independent aud510r'$ report Stslemenl of financial activities 10 Balance sheet 11 statement of cash flows 12 N¢)tes to the financi81 stalements 13-25 INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT CHAIRMAN'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Inverness C85edonian Thistle Corrtmunity Development Trust continued to demonslrale strong perfomiance throughout the financial year, consolidating ltte progress achieved in previous periods. Despite the uncertainty surrounding the future ol the football club and the sustained negative medi8 attention, the Trust remained steadfast In ils commitrnenl to community service. The dedication of our directors, the Community Development management team. and all staff ensured nol only the uninleTTupled delivery of Oltr programmes bul also the expansion of the services available to the community. The Board ￿nVened on four ctcasions during the year 81 the Hilton Community Centre, where members consistently commended the Community Development Team for its effective delivery of a broad range of activities. These included holiday camp5 for young people, school-based edu¢alion programmes. Para Football, Walking Foolball. and Football Memories sessions. During the year, we were pleased to appoint former ICT FC Interim Chairman Pan05 Thomas lo the Board, increasing our complement lo nine direetors, each bringing valuable experien￿ from aero$8 business and sport. In recognition ol the conlinLted growih of the Community Development Team and the 1r￿rez$1n9 scale of ils activities, the Board approved the elevation ol Craig M8Sterton from Communty Development Manager to Chief Executive. Daniel Lamond subsequenlly assumed the role of Community Development Manager. The Trust considers ilsell fortunate lo have two individuals of such commitment and capability leading ils community outreach work. Two majoT projects defined the year.. the eslabli$hmenl of a new community ttub al the Invemess Royal Academy Playing Fields, and the Scottish FrK)tball Associalion-funded Extra fime Project, which provides breakf8sI and after-school provision across lour Inverness primary schools. The Trust holds a 25-year lease Irom The Highland Council for 10 acres of grassland at the Inveme55 Royal Academy Playing Fields. Signffjicanl progress was made during the year to retum Ihis land to aetive eommunity use. Phase 1 comprised extensive drainage works undertaken by Greentech to address long-51anding flooding issues. Funding was subsequently secured for Phase 2. and a construction contracl was awarded lo IBI Joinery for the development of a pavilion incorporating offices for the Community Development Team, a classroom, kitchen, meeting room, ar¢d changing facilities. The Trust is grateful lo the organisations ssjpporting this project, which exceeds £1.6 million in value. These include the Scottish Football Association Facilities Fund, Sportscolland Faeililies Fund, Highlands and Islands Enterprise, The High18né Council Regeneration Fund, The Highland Council Common GTh)d Fund, M¢Donald's in the Community Foundation, Garfield Weston Foundation, Scottish Football Partnership TrLtst. HiTrans. and the Gordon & Ena Baxter Foundalion. Once operational, the faeilty managed by the Trust will serve as an important resource for grassfools activity acrctss the community. INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT CHAIRMAN'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Communlty Plllars SocSal Health & Wellbeing Our Extra Tlme project continued lo grow in 2024, evolving to meet the needs of both students and families. With an increased focLFS on after school provision, the programme not only offered young people more opporlunilies Its slay aciive and engaged but also provided vital support for families by helping to extend employment hours beyond the school day. The sessions have become a valued part of the local routinè, creating Safe, struttured environments where chIld￿n can learn. play, and thrive. This year also saw exciting new partnerships that strenjhened Ouf impact. Work4ng alongside Highlrfe Highland, we expanded opportunities for young people lo lake part in extra. curricular sport. boosting activity levels and confidence. Meanwhile, our p8rtnership with Mikeysline introduced new ways to promote and support posrtive mental health among participants, ensuring wellbeing remains al the heart of everything we do. Together. these collaborations have helped Extra fime grow into a programme that supports not just play, bul also the wider development and wellbeing of our young people. 115,376 Free Meals including Festive Lunches and 1,131 Free Childcare Hoursl Our second Chrlstmas event proved lo be an even greater success than the previous year. With students eagerly anticipating ils return after last year's excthmenl, we knew we had lo raise our game1 As nLFmbers across our Extra Time programme continued to grow, we made sure every porticipanl had the ¢hance to visit the stadium, make new friends, and meet the first team. creating memories that will last well beyond the festive season. Meeting Sants and receiving a lew extra Christmas gifts was simply the icing on the cake! Our Football Memorles sessions continue lo grow from strength lo strength, becoming a cherished highlight of the month for many attendees. Each galhering offers fans of the beautiful game an opportunity lo share stortes, recall treasured moments. and connect with both friends and former rivals in a welcoming and social setting. The 81mosphere is one ol genuine camaraderie. laughter, and shared passion. This year, we were privileged lo welcome 8n outstsnding line-up of guests. including Inverness Caledonian Thistle legends Barry Wilson and Richard Hasb'ngs, whose stories brought both nostalgia and inspiration lo the room. We were also honoured by a special visit from the team al the Hampden Museum, who, having heard of our su¢cess, joined us to experience first-hand the power and positivty these sessions ¢reale wrthin our community. Our Festlve FTlends 2024 campaign marked our biggest year yet. spreading Chrislmas cheer and 8UPPOrt across the communty. Wth over 30 thoughtful hamper nominations received from supporters - adding lo a record totsl through community partner referrals, we were once again Teminded of the strength of our fanbase and the compassion that defines our club. A he8rtfell Ih8nk you goes lo the ICT Supporters Trust, the ICT First Team, and Walkers Shortbread for their generosity and hands-on help in filling every hamper with festive wamith. Due lo the growng demand from b)Ih our supporters and the wider community, we hosted two Festive Lunches th￿5 year. offering companionship, conversation, and festive joy to those who are often socially isolated or vulnerable al Christmas. 113 Festive Lunches 77 Festive Hampers Feslive Friends Participants (New Record11 Community AeadÈmy Community Teams Reacting lo a local need in the Community, we were excited to Saunch our new U12 and U14 Community teams that provide a new opportunity for young players lo experienee grassroots footbo11 in a fun and positive environment. Another successful year ol Holiday Camps as we have had over 2,000 players join us across the North of Scotland during school holidays, providing affordable activity when families need it most. 87Qh Attended due to previous positive experiences. After feeg of the sector in which the ¢harty operalos. INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT Laws and regulations of direct significance in the context ol the charity include the Charities and Trustees Investment (Scollandl Act 2005. the Charities Acwunts {Scollandl Regulation5 2006 and UK Tax legislation. We considered the extent of eompli8nce with these laws and regulations as part of our audit procedures on the related finanaal slalement items including a review of financial statement disclosures. We reviewed the charity's records of breaches of laws and regLElats'ons. minutes of meetings and correskX)ndence with relevant authorities to identify potential material misstatements ariyng. We discussed the charity's policies and pro¢edures for compliance with law5 and regulations with members of management responsible for compliance. During the planning meeting with the audit team, the Responsible Individual IRII drew attention lo the key are35 which might involve non-compliance wth laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance wf(h laws and regulations or kn￿edge of any actual. suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing IF appropriateness of journal entries and identifying any si9nthcanl transactions that were unusual OT Outside the normal course of business. We assessed whether judgements made in making a￿untIng estimates gave rise lo a POSStble indication of management bias. Al the completion stage of the audit, the Rl's review included ensuring that the team had approached their work with appropriate professional sceplicism and thus the capacity lo identify non- compliance ¥Mth laws and regulations and fraud. There are inheTenl limitations in the audit procedures describe(l above and the furthe¥ removed non•compliance with laws and regulations is from Ihe events and transactions reflected in the financial statements, the le55 likely we would become aware of it. Also, the risk of not delecling a maleTr?I mi5s1atemenl due lo fraud is hi9her than the risk of not detecting one resultsng from error. as fraud may involve deliberate concealment by, fof example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilib'es is available on the Financial Reporbng Counal's website al.. https'.11 www.frc.org_uklauditorsresponsibililies. Thi5 description foms part of our auditor's report. Use ofour rgport This report is made solely lo the charitsble company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and lo the charitable ￿MpanY'S trustees, as a body, in accordance wth Regulation 10 of the Charities Accounts (Scollandl Regulations 2006. Our audit WOTk has been undertaken $0 that we might slate lo the charitable company's members and Iruslees those matters we are required lo slate lo them in an auditOT'S report and lor no other purpose. To tho lullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company, the charrtable comp8ny's members as a body and the charitable company's trustees as a body, for our audit Work, for this report. or for the opinions we have formed. Mark D Sanderson Bsc CA ISenioT Statutory Audltorl For and on behalf of MacKenzie Kerr Limited. SlalutoryAuditor Chartered Accountants and StaluloryAudrtor Redwood 19 Culduthel Road Invemess IV24 Date.. INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT STATEMENT OF FINANCIAL ACTIVITIES IINCLVDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Unrestrlcted Restricted funds funds 2025 2025 Total Unrestrlcted Restricted funds funds 2024 2024 Total 2025 2024 Not8s Incomefrom.. Donations and legacies haril Community C08ching Community Hub 7,654 304,833 312.487 1.611 273,055 274,666 177,981 177.981 907,762 206,148 206,148 402,340 907,762 402,340 Other trading activrfties Investments 31,421 3,336 31.421 3.336 47.557 3,427 47,557 3,427 Totsl income 220,392 1,212,595 1,432.987 258,743 875,395 934,138 Expènditure on: Raising lunds 4,750 4,750 4,750 4,750 Community Coaching Communty Hub 173,704 1,242 305,160 478,864 1.242 168,028 767 262,648 6,432 430,676 7,199 Totsl charEiable pxppndlturp 174,946 305,160 480.106 168,795 269,080 437,875 Total expendlture 17Q,696 305,160 484,856 173,545 269,080 442,625 14èt Income 40,696 907,435 948.131 85,198 406,315 491.513 Transfers befvleen fun(t5 159,491} 59,491 Net movgment in funds 10 40,696 907,435 948,131 25,707 465,806 491,513 Recon¢lllatlon of fund$: Fund balances al 1 October 2024 116,019 546,588 662,605 90,312 80,780 171.092 Fund balances at 30 September 2025 156,715 1,454,021 1,610.736 116,019 546,586 662,605 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. 10- INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT BALANCE SHEET AS AT 30 SEPTEMBER 2025 2025 2024 Flxed assets Tangible assets 14 976,736 193,396 Current assets Debtors Cash al bank and in hand 15 691,582 170,110 420,532 255,549 861,692 676,081 Credltots: amounts falllng due wlthln one year 16 {211,0671 1204,0041 Ngt current a$sgts 650,625 472,077 Total a55ets less Current Ilabllltles 1.627,361 665,473 CredltOTS: amounts fallln9 due after more than one year 18 116,6251 12,8681 Net assgts 1,610.738 662,605 The funds of the CharEtable company Restricted income fijnds Unrestricted funds 20 21 1,454,021 158.715 $46,586 118,019 1,610,738 662,805 The financial $taternenls were approved by the Trustees on ..,i.3.l.sliE Truste&s INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 2024 Notes Cash flows from opernting activltles Cash gènerated fr¢)m operations 27 699,890 273,766 Investlng actlvltles Purchase of tangible fixed assets Investment income received 1785,965) 3,336 1159,3711 3,427 Net ¢a$h used In Invgstlng actlvltles 1782,6291 1155,9441 Flnanclng actlvltle8 Payment of finance leases obligations 12,700) 11,0211 Net cash used in financlng actfvitles 12,7001 11,0211 Net IdÈcréasellln¢re089 In cash and cash equlvalents 85,4391 116,601 Cash and cash equivaienls at beginning of year 255,549 138,748 Cash and cash equlvalents at end of year 170,110 255,549 12- INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Aecountlng pollcles Charfty Informatlon Inverness Caledonian Thistle Communty Development is a private company limited by guarantee in¢orporaled in S¢olland The registered office is ICT Community Hub, Culdulhel R¢)ad, Invemess, IV2 6AD. 1.1 Bas1$ of preparation financial statements have been prepared in accordance wlh the Charitable company's Memorandum and Artides of Association. the Companies Act 2006. the Charities and Trustee Investment ISco118ndl Act 2005, the Charities Accounts Iscotlandl Regulations 2006 las amended). FRS 102 °The Financial Reporting Standartl applicable in the UK and Republic of Ireland. {'FRS 102.1 and the Charities SORP"Accountirg and Reporting by Charities.. Statement ol Recommended Praclice appli¢able lo charities preparing their accounts in accordance with the Financial Reporting Stsndard appli￿ble in the UK and Republic ol Ireland {FRS 1021. leffeclivo 1 January 20191. The Charitable company is a Public Benefit Entity 85 defined by FRS 102. The financial ststements are prepared in slerfing, which is the functional currency of the Charitstle company. Monetary amounts in these financial statements are rounded to the neaTesl £. The finaneial statements have been prepared under the historical cost convention.The principal accounting policies adopted are sel out bek)w. 1.2 Golng concgm Vvhilst the level of ongoing activity relies on certain factors that remain uncertain, the trustees are sa115fied that the charty has acce5S to sufficient working Capital lo allow il lo meet ils liaEy'lilies as they fall due for al least 12 months fr¢rn the dale of approval of the financial statements. Accordingly the financial statements are pfepare£J on a going concern basis. 1.3 Charitable funds Unreslricled funds are available for use al the discretion of the Trustees In furtherance of their charitable objectives. Restricted funds aTe subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the re51ricled lunds are set out in the notes lo the financial 51alements. 1.4 Income Income is recognised when the Charitable company is legally enlilled lo f( after any perfomanee conditions have been mel, the amounts Can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donation$ are recognised once the Ch8rilable company has been nolilied of the donation, unless performance conditions require deferTal of the amount. Income lax recoverable in relation to donations received under Gift Aid or deed5 of covenant is recognised al the lime ol the donation. Income from trading activities is measured at the fair valL¢e of the consideration received or re￿Vable and represents amounts receivable for services Provided. Football coaching income is re¢ognised when receivable and on delivery of the seNce. 13- INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting poliele$ IContlnued} 1.$ Expendllure Expenditure is reeognised once there is a legal or conslructwe obligation to transfer economic benefit lo a third party, il is probable that a transfer of economic ￿nefits wll be required in settlement, and the amount of the obligation ean be measured reliably. Expenditure is classified by aeb'vily. The costs of each activity are made up of the total ol diwl costs and shared costs, including support costs involved in undertaking each activty. Direct costs attribU1at￿e lo a single activity are all¢)caled directly lo that activity. Shared wsls which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned befv￿en those activities on a basis consistent with the use of resources. Central staff costs are allocated on Ihe basis of lime spent, and depreciatioll charges are allocated on th& portion of the asset's use. 1.6 Tanglble flxed assets Tangible fixed assets are inilially measured al cost and $ubsequenUy measured al cost oi valuation, net ol deprecialion and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of 8ssels less their residual values over their useful lives on the following base5'. Leaseholrj improvements Plant and equipment Fixttjres and fittings Computers Motor vehicles 2% straight line 20% 5traighl line 200/0 straight line 20% straight line 20°h reducing balar￿e The gain or loss arising on the disposal of an asset is delèmiined as the difference between the sale proceeds ènd the earrying value of the asset, and is recognised in the statement of financial activities. Depreci8tion on the leasehold improvements will begin once the construction work is complete. 1.7 Impalment of fixed assets At each reporting end date, the Charttable company reviews thè carrying amounts of ils tangible assets to deleimine whether there is any indication that those assets have suffered an impaim?enl loss. 11 any such indicatr.on exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment1055 lif any). 1.8 Cash and cash equS¥alents Cash and cash equivalents include cash in hand, deptssits held al Call wrth 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 liabilities. 1.9 Flnan¢lal Instruments The Charitable company has elected to apply the provisions of Section 11 'Basic Fin8naal Instruments, and Section 12 '01her Financial Instrumenlslssues, of FRS 102 to all of ils financial irislruments Financial instruments are recognised in Ihe Charitable company's balance sheet when the Charitable company becornes party lo the contractual provisions of the Instrument. Financial assets and liabilities are offset, wlh the nel amounts prèsented in the financial stalemenls. when there is a legally enforceab￿ right to set off the re¢ognised amounts and there is an intention to settle on a net basis oi to realise the asset and settle the liabilty simultaneously. 14- INVERNESS CALEDONIAN THISTLE COMMUNI￿ DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2025 A¢eountlng polleTèS Icontlnuedl Baslc Ilnan¢l41 assets Basic financial assets, whieh include debtors and cash and bank balances, are initially measured at transaction price including transacts.on costs and are subsequenlty carried al amortised cost using the effective interest meth¢)d unless the arrangement constilules 8 financing Iransaclion, where the Iransaclion is measured al the present value of the future receipts discounted al a market ral& of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the 8rr8ngement constitutes a financing Iransaclion, where the debt instrument is measured at the present value of the future payments discounted at 8 market rale of interest. Finanaal liabilities Classified as payable within one year are not amortised. Debt Instruments are subsequently carried at amortised cost. using the effective interest rale method. Trade creditors are obligations to pay for gix)ds or services that have been acquired in the ordinary wur$e ol operations from suppliers. Amounis payable are dass¢fied as current liabililies if payment is due wrthin one year or less. If not. they are presented as non-currenl liabilities. Trade ￿edItorS are recognised iftilially at transaction price and subsequently measured al amortised cost using the effective interest method. Derecognitlon of financial liabilities Finanoal liabilities are derecognised when the Charitable company's conlraetual obligations expire or are discharged or cancelled. 1.10 Employeè beneflts The cost of any unused holiday entillemenl is recognised in the period in which the employee's Services are feceived. Termination benefits are recognised immediately as an expense when the Charitable company is demonstrably committed to lerminale the employment of an employee Of to provide terrnin81ion benefits. 1.11 Lea5e5 Leases are classified as finance leases whènever the lerrns of the lease transfer subslanlially all the risks ano rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognisecl as assels al the lower of the assets fair value at the dale ol inception and the present value of the minimum le88e payments The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as Consisting of capital and interest elements. The interest is charged lo nel incomellexpendilurel lor the year so as to produce a constant periodic rale of interest on the remaining balance of the liability. 15 INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2025 Income from donatbons and lègac￿$ Unrestrlcted Restrlcted funds funds 2026 2026 Total Unrestrlcted Restricted funds funds 2024 2024 Total 2026 2024 Donations and 9ifts Grants re￿1vable 7,654 7,654 304,833 1.611 1,811 273,055 304,833 273,055 7.654 304,833 312,487 1,611 273.055 274,666 Grants recevled above arè as follows: Highland Council Shared Care Scotland SPFL Trust Scollish Football Association Inspiring ScotL4nd 12.430 30,366 2,750 12.430 30,366 2,750 29,044 23,719 29,044 23,719 255,386 3,901 255,386 3,901 220,292 220,292 304,833 304.833 273,055 273,055 Income from ¢harltable activitles Unrestrlcted Restrlcted funds funds 2025 2025 Total Unrestrlcted Restrlcted funds funds 2024 2024 Total 2025 2024 Communlty Coachlng Football coaching income 177,981 177.981 206,148 206,148 Communlty Hub Charitable activities grants 907,762 907,762 402,340 402,340 177.981 907,762 1.065,743 206,148 402,340 608,488 16 INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Income from chartiable actlvltles IConllnu9d) Charltable grants recelved anatysls CommunÉty Community Hub Hub 2025 2024 Bank of Scotland Mr James Anderson Scottish Foolball Assoryation Highland Council Scottish Football Partnership Trusl McDonalds in the Communty Foundation Garfield Weston Foundation SportScotl8nd Highlands & Islands EnlerpTise HITRANS Other 18,840 50,000 328,500 5.000 172,197 50,000 100,000 50,000 121,630 400,000 13,935 907.782 402,340 Income from other tradlng acttvltles Unrestrlcted Unrestrlcted fund5 funds 2025 2024 Fundraising events Letting and lionsing arrangements Sponsorships and social lotteries OlheT income 9,000 2,206 20,215 4,200 23.541 18,269 1,547 Olhei trading aetivilies 31,421 47,557 Income from Investments Unrestrlctsd Unrestrl¢ted funds funds 2025 2024 Intere81 receivable 3,336 3,427 17- INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Expenditure on ralslng lunds Unrestricted Unre$trlded funds fund8 2025 2024 Fundralsing and publlctty Seeking donations, grants and legacies 4,750 4,750 Expendlture on charltablè octlvities Communlty Communlty Coachlng Hub 2025 2025 Total Communlty Communlty Coachlng Hub 2024 2024 Total 2025 2024 Dlrect costs Staff costs l)eprecialion and impairment Football coaching costs Fundraising costs Community HUB costs Motor expenses Other staff costs Sundry costs 351,955 351,955 300.595 300,595 21.515 49,764 21,515 49.764 12,543 45.335 343 12,543 45,335 343 7.199 14,550 23,242 5.014 1.242 1.242 24,188 7,199 24.188 14.550 23.242 5,014 185 185 447.607 1.242 448,849 401,822 7,199 408,821 Grant funding of 8etivities (see nots 8} 544 Share of support ènd governance costs I$￿ note 91 Support 18,457 Governance 12,256 18,457 12.256 19,243 9,811 19,243 9,811 478.864 1.242 480.106 430,876 7,199 437.875 Analysls by fund Unrestricted funds Reslricted funds 173.704 305,160 1,242 174.946 305,160 168,028 262.648 767 6,432 188.795 289,080 478,864 1,242 480.106 430,876 7,199 437,875 Grants payablè During the year a grant award of £272 was paid to Dalneigh Primary School and Merkinch Primary Sehool. 18- INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Support costs allocated to activltles 2025 2024 Motor expenses Office costs Legal and professional Bank charges Advertising Sundry Hire Puf¢hase Governance costs 5,450 8,094 2,495 2,824 3,601 862 581 12,256 365 2,834 2,850 1,864 316 9,811 30,713 29,054 Anatysed between: Community Coaching 30,713 29.054 10 Nel movgmtnt In funds 2025 2024 The nel movement in funds is stated after chargingllcredilingl". Fees payablè to the charity's auditor.. for the audit ol the Charity's financial slalemenls for other financial seNices Deprecialior* of owned tangible fixed 8ssels 6,250 6,006 21.515 6,500 3.311 12.543 11 Trusteps None ol the Trustees lor any persons connected wth them) received any remuneration or benefits from the Charitsble company during the year. 12 Employee5 The average monthly numl)er of employees during the year was.. 2025 Number 2024 Number Average employees 17 15 Employment costs 202S 2024 Wages and salaries 351,955 300,5gS There were no employees whose annual remuneration was more than £60,000. INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 12 Employees Icontlnuedl Remuneratlon of key management pgrsonn81 The remuneration of key managemènt personnel was as follows.. 2025 2024 Aggregate compensation 86.091 78.684 13 Taxatlon The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or sedion 252 of the T&xalion of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objeels. 14 Tangible fixed #$$ets Leasettold Improvements Plant and Flxtur*s and tttLing$ CornpErters Motor vehlcles Totsl Cost Al 1 October 2024 Additions 146,294 759,904 48,152 8,700 1,178 4,352 2.390 8,204 10,998 23.697 209,010 804,857 AI 30 September 2025 906,198 56,852 5,528 10.594 34,695 1,013,867 Depreciation and Impalrment Al 1 October 2024 Dep￿ClOt10n cha¥ged in the year 12,23D 376 810 2,200 15,616 11,370 1,106 2,100 6,939 21,515 AI 30 September 2025 23.600 1,482 2.910 9,139 37,131 Carrying amount AI 30 September 2025 906.198 33,252 4,046 7.684 25,5S 976,736 AI 30 September 2024 146,294 35,923 801 1.580 8,798 193,398 15 Debtors 2025 2024 Amounts falllng due wlthln one year: Trade debtors Pfepaymenls and accrued income 860,582 31.000 420,532 891,582 420.532 -20- INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 16 Crèdttors: amounts falllng due withln one yèar 2025 2024 Notgs Obligations under finance leases Other laxaiion and social security Government grants Trade credito Other creditors Ae¢rual$ and deferred income 17 4.729 6,974 168.432 15.622 1.413 13,897 2,294 19 125.386 57,640 1,298 11.942 211.067 204.004 17 Flnanco lease obllgatlons Future minimum lease payments due unrjer finance leases.. 2026 2024 thin one year Vwlhin two and five years 4,729 16,625 2.294 2,868 21,354 5,162 The hire purchase and finance leases are secured over the assets to which they rel81e. 18 Creditors.. amounts talllng duè after more than one yèar 2025 2024 Nolgs Obligations under finance leases 17 16.625 2,868 19 Govemment grants Deferred income is included in the financial statements as follows: 2025 2024 Deferred income is included within". Current liabilihes 188.432 125,386 21 INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 19 Goveinment grants Icontlnuedl 2025 2024 Movements in the year.. Deferred ineome at l Octobw 2024 Released from previous ￿riods Resour¢es deferred in the ye8r 125,386 {125,386} 168,432 125,386 Deferred income a130 September 2025 168,432 125,386 20 Rpstrfctfjd funds The reslricled funds L7f the charity comprise the unexpended b81ance$ of donations and grants held on trust subject to specific condllions by dontsrs as to how they may be used. At 1 October 2024 Incomln9 Resources resotsrcès expend Transfors At30 Septemb•r 2025 Scottish Football Assoualion - Extra fime Progr8mme Highland Coun￿1 Community Hub Cycling Scolland Shared Care Scouand Inspiring Scotland Scottish Football Association - Festive Friends 255,386 12,430 907,782 1252,8141 112,430) 16,7071 12,8391 123.719) 13.901} 2,572 513,712 9,155 23.719 1,414.767 6,316 30,366 30,386 3,901 2,750 12,750) 548.586 1,212,595 1305.1601 1,454,021 Prevlous year.. At 1 October 2023 Incomlt)g Resources resour¢g$ expended Transfers At30 September 2024 Scotlish Football Association- Extra Time Programme Highland Council Community Hub Cycling Scotland Coaching funds Shared Care Scouand 220,291 29,044 402,341 1220,291} 129,0441 113,1381 12,8391 13,7681 65,018 11.994 3,768 59,491 513,712 9,155 23,719 23,719 80,780 675,395 1269,080) 59,491 546,586 INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 20 Restrlcted funds Icontlnuedl Grant funding towards costs in relation lo provid5ng before and after schcol and holiday clubs. hl Grant funding towards staffing costs. Grant funding loward$ the building 01 8 community hub. Grant funding tQWaTds a bike shelter. Sh red Care S 11 Grant ftjnding towards para football. Grant funding towards breakfast clubs. Grant funding towards feslive fn'ends meal. Grant funding towards coaching and summer eamps. A transfer of £59,491 is shown coming from yeneral funds. this represents the charities own contribution towards the community hub project. 21 Unrestrlcted funds The unrestricted funds of the charity comprsse the unexpended balances of donations 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 unrestricted funds by the Iruslees for specific purposes. At 1 October 2024 In¢omlng resource$ ResouTC88 expended Transfers At30 September 2025 General funds 116,019 220,392 1179,6961 158.715 Prevlou$ ygar: At 1 October 2023 Incomlng rosQU￿e¥ Resources expended Transfers At30 September 2024 General funds 90,312 258,743 1173.5451 159,4911 116,019 -23- INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 22 Anaty$Fs of net assets belween fund$ Unrestricted funds 2025 Restricted funds 2026 Totsl 202S At 30 September 2025: Tangible assets Current asselsllliabililiesl Long term liabilities 174,126 30,214 116,625) 802,610 620,411 976.736 650,625 116,6251 187,715 1.423,021 1,610,736 Per balance sheet Balance to allocate 156,715 {31,0001 1,454.021 31.000 1,610.7 Unr8$trlcted funds 2024 R￿trIcted funds 2024 Totsl 2024 At 30 September 2024: Tangible assets Current assetsllliabililiesl Long term liabilities 67,575 51.312 12,8881 125,821 420.765 193.396 472,077 12,8681 118,019 546,586 662,605 23 Contlngent liabilities There are contingent liabilities relating lo grants received for the community hub project whereby if the terms and conditions of the grants are not adhered lo a proportion of the grants may becomè repayable. 11 is not onsidered practical to quanlrfy any liability vthich might arise. 24 Operatlng lease commltments Lessee Al the reporting end date the Charitable company had oulslanding coMM￿mentS for lulure minimum lease payments under non-cancellable operating leases, which fall due as follows". 2025 2024 Within one year Bemeen tsvo and five years 9,142 480 10,612 10,612 9,622 21.224 INVERNESS CALEDONIAN THISTLE COMMUNITY DEVELOPMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 25 Capltal commftments Al the balance sheet date Inverness Caledonian Thistle Community Development has committed to the building of a community hub. The lolal cost of the project is £1.142.396 with £640,032 being spent on this during the year The charity ha5 Secured significant fvnding lo complete the build. 26 Related party transactlons The ¢haTily made payments tolaling £10,25212024- £1,224) lo Inverness Thistle and Caledonian F.C. Limited for il's share of the car park and raffle funds. The director G Fyfe was also a director of Inverness Thistle and Caledonian F.C. Limited during the year. 27 Cash generated Irom operatlons 2025 2024 Surplus lor the year 948,131 491,513 Adjustments for. Investment ineome recognised in statement of financial activities Depreciats'on and impaiTmenl of tangible fixed assets (3,3361 21,515 13,427} 12,543 Movements In working capltal: Ilncrea5el in debtors (Decreasellincrease in Creditors Increase in deferre