REGISTERED COMPANY NUMBER: SC283758 Iseotland) REGISTERED CHAIUTY NUMBER: SC036496 R¢ rt of the Trust¢es and Financial Statements for the Year Ended 30 Se tember 2025 Leith Festival Association Ltd
L£ith Festival Association Ltd Contents of the FiTnCial Statements for the Year Ended 30 Se tember 2025 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements
Leith Festiwdl Association Ltd Re stered number.. SC283758 rt of the Trustees for the Y&qr Ended 30 Se tember 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the finallcial statements of th¢ charity foi the year ended 30 Septemb¢r 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland IFRS 102) {effective l Jalluary 2019). OBJECTIVES AND ACTTrUTIES Objeetive5 To promote and benefit the inhabitants of and visitors to Leith and its environs in a con]tnoll effort to advance social inclusion and education through the promotion of the arts and skills developTnet]t by providing facilities, or working in partnership to assist ID the provision of facilities, in the interest of social welfare and for recreatiott alld other leisure-time occupation so that quality of life may be improved. To promote, establish, operate an&or support other s¢hemes and projects of a charitable nature for the benefit of the community witkn"n Leitti and surroUndig neighbourhoods. Principal Actlvlty Leith Festival is a voluntary organisation with a cotDmunity frstival held each year over 9 days in Jlle. The Festival provides the opportunity for a wide ratjge of community organisations and locai people to celebrate the COTllmunity spirit and develop new slulls and confidence building m&eS through the experience of organising atjd 4Xelivering a wide Tange of performances and events. Leith Festival also holds other events throughout the year when resourccs allow. ACHIEVEMENTS AND PERFORMANCE Thc Charity was pleased to be able to once again organise and deliver Leith Festival week. The weather wa5 scvere throughoul much of the week, and worsened on the Saturday to the extent that we had tt) suspend Gala Day lo cnsure piiblic safety. We revamped Festival Week, by moving our street procession, the L¢ith Pageant to the sLcoJid .Sunday of Juiic, to lead into the Leith Tattoo event. Lciih fcslival is all about the ¢on]mllnity of Leith. it gives the opportunity for professional alld atnateui gri)ilPS iilikc lo bc iiivolvtyd in theaire, Tnusic. arts, history. song and in fact pretty tnuch anything within their local COEyiirunily. I,L.%tival W¥Lk docs not have any rcLTiilar annual incorne. it is dependent on sponsors. advettisers and supporters. liiiidi'Li1.4lllb Jnd ULLclSIOIILiI oiie otT granlb. Thanks go to all OUT sponsor8, advertisers. community supporteis and v()ILllllccrs. Thc vi)ILiiIILLr board ¢onlinuLd lo meet regularly for platming purposes and th¢ allDual reNTrew of activitie%. ThL bi)Iird liab ci)iilinuLd IL) dibLu.%s aiid monitor options for future, mole regular activities, and to explore partrership willi i)Ilici Iirb7&11l15illion.%, witli a vilw to Ill¢Teasing diversity among volunteers and perfortn¢rs, and widening IliL I'LtlLli ill. Il% l)Iir iicliviliL.% havc becn rLjuvetMted by our new board member Mike Dohety. Our thaDks to Phil Aiii'idbv. ',1 Ii)rib slajidiiib? b()ai-d InLnibLI whi) rctired in 2025. Miii'L fLLLiiily WL havc bcLn sdddened by the passing of two fonner long serving board members, Liz Piils1)11 iiiid Mily IIlNAN('IAI. RIIVILW Anriuul I, illJllLial revie I'IILI'L j.% 'iii IivLr.'Ill (lili¥il <)I' L? 546 for the year12024'. surplus of £5,458). A(l(Iili()IlLII Lll.%Iy WLfL LXPLri¢iiLed in 2025 due to in¢rEased freelance stsff costs and incr&ed infrastT-Iii Iiii'L Iiis1% li)r IIIL I liil..I l )..iy Al.%iTr IIiLfL WIIS 1)iily one small giant of Ll,632 received this year from the Leith Bcnevoli'iil l.1iiiil wliii Pi '[ iilLII IIiLI)IIIL Wii¥ £?4.74X I ?1194.. £22,994) with total cxpcnditure of £27,294 (2024.. £17.536). Page I
Leith Festival Association Ltd stered Dumber.. SC283758 ort of the Trustees foi the Year Ended 30 Se tember 2025 FtNANCIAL REVIEW Reserves policy The charity has consistently followed a policy of accutnuLqting annual surpluses to provide 2 reserve for future y&ir5 where there may be a deficit. Reserves are set &t a minimum of one year oveThead costs with no upper limit but Leith Festival should airn to maintain reserves at a level to provide one yes Gala Day costs and ideally rhe fLd5 for a patt time Freelance Festival Coordinator post. Total reserves at the year end are £20,765 (2024..£23,3111 with £20,765 {2024.. £21,942} in unrestricted funds. With ullrestricted expendiftlre 2025 of £25,942 the reserves flll sbghtly short of the tartset amowiL however the Trustees art Confident rhat the current level of reserves are suffjcient to contiThue as a going concern for the next 12 months. FUTURE PLANS The Leith Festival plans to continue to promote its charitable objectives of advancing education through promotion of the arts for the benefit of the con]munity with1 Leith and its surroundillg environs. It is ellvisaged that Leith Festival will aim to increase the range of events as capacity and appetite allow. STRUCTURE. GOVERf4ANCE AND MANAGEMENT GoYerniDg document Thc charity operates under the name Leith Festival Ass(¢iation Ltd. The charity is a private company limited by guarantee and is iecognised by the Office of Scottish Chatities Reglllator as a Scottish charity {number SC2837581. The charity is goveined by its articles of &ss)¢iation & eonstitutioll which was forn)ally adopted at Ihe first Annual General Meeting. held ot] 7th March 2006. AGM and Trustees Trustees of the board are elected by the members of Leith Festival Association Ltd. All the trubleeb. being eligiblc. offer themselves for re£lection at the Annual General Meeting. All majc)r opcrating decisioiis are decided by the Board of Directors. ThL Iicxt AGM will bc hcld in April 2026. Risk. I'IIL tru%lLL% liavL LxJmincd tlic major strategic business and operational risks which the clrity faces aiid Li)Iiliini% IhL?I %y%ILlll% .IrL iIi plJLL to ciiablc regular reports to bc provided so that necessary steps can be taken li) IllllillllllL LIIIY Rb'.Il'Tr:R.,NCTr', ANI) ADfiiNISTRA TtVE DETAILS ReRl%tI'rcil Coinp#Try number ReRl%tered C'hthrlty nutmher HL'k>l.¥tLrcd ofllce Pdglc 2
Leith Festival Association Ltd istered number.. SC283758 Re ort of the Trustees for the Year Ended 30 Se tember 2025 Trustees Nick Gardner Chair P"1 Attiidge Vice Chair (resigned 22.5.251 Barbara Kerr Marie Jose Adami Treasurer Daen Stnith Michael John Doherty (appointed 18.3.25) Independent Ex8miner Mathew Gillies LLB IHODSI ACPA FCIE Cowan & Partners Limited 60 Constithtion Street Edinburgh EH6 6RR Bankers Bank of Scotland 13 Newkitkgate Edillburgh EH6 6AD Approved by order of the board of trustees on ... 1.7.....Id..,..2.G•............. and signed on its behalf by= Nick Gardner- Trustee Page 3
Inde endent Examinei's Re ort to the Tnte¢S of L£ith Festival Association Ltd I report on the accounts for th¢ year ended 30 September 2025 set out on pages five to twelve. Respectlve responsibilities of trustees and examiner The charity's trustces are responsible for the prepaiation of the accounts in accordance wth the terms of the Charities and Trnstee Investment (Scotland) Act 2005 and the Charities Accounts Iscotlalld) Regulations 2006 (as amended). The charitys trnstees consider that the audit requirement of Regulation 10(11{a} to Icl of the Accounts Regulations does not apply. It is My responsibility to examine the accounts a5 requir¢d under Section 44lll(cl of the Act and to state whether particular matters have come to my attention. Basis ofthe independent examiner's report My examination was carried out in accordance with Regulation I l of the Chatities Accounts (Scotlandl Regulations 2006. An exan)ination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees ¢oDcetniDg ally such matters. The procedures undertaken do not provide all the evidence that would be required in an audiL and consequtndy I do not express an audit opinion on the view given by the accounts. Independent examlner's Statement In connection wth my examination. no matter bas to Y att¢ntion '. 11) wh]"ch gives t reasoTJable cause to believe that. in any material r¢spe¢t. the requireTrrn)ts to keep accounting iecords in aecordance with Section 44111(al of the 2(X)5 Act alld Regulation 4 of the 2006 Accounts Regulations,. and to prepare accounts which accord wth the accollnting records and to comply with Regulation 8 of the 2006 Accounts Regulations havc not been met.. or 121 to wliich, my opinion. attention should be drawn in order to enable a proper understsnding of thL accounL8 to bc rcachcd. MLiIIILW (Jillie% LLI3 IHonsl ACPA FCIE I,ull i)IcniliLr 4Jl' Ihc As&ociiltion of Charity Independent Examiners ('i)Wl1 11 & l Jrtncrs l.imilLd Page 4
Leith Festival Association Ltd Statement of Financial Activities Inco oratin an Income and Ex enditure Account for the Year Ended 30 Se tetnber 2025 30.9.25 Total funds 30.9 24 Total funds Unrestricted Restricted funds Notes INCOME AND ENDOWMENfs FROM Donations and legacies 2,041 2,041 2,039 Charitable activlttes Charitable activities 1,632 1,632 5.110 Other trading activities 21.075 21.075 15.845 Total 24,748 24.748 22,994 EXPENDrruRE ON Charitable sctivities Charitable a¢tivitie5 25,942 1.352 27,294 17.536 NET INCOMEI{EXPENDITURE) Transfers between funds (1,194) 17 (1,352) (2,546) 5.458 Net movement in funds {1,177) (1,369) (2.546) 5,458 RECONCILIATION OF FUf4DS Tolal funds biouuhi forward 21,942 1,369 23.311 TOTAL FUNDS CARRIED FORWARD 20,765 20,765 CI)NTINUING OPERAI'IUNS All iiici)IllL d&id CXPLndituiL hdb aiisen from continuing activities. ThL stalLIL17t ur riiiancial 3clivilies includes all g&ins and losses recognised in the year TIIL 111)li% luriJi part of these f]nanci81 statements PdLJC 5
L£ith Festival Association Ltd
istered number.. SC283758
Balatjce Sheet
30
tember 2025
30.9.25
Total
nds
30.9.24
Total
funds
UDrestricted
fijnd
Restricted
fijnds
Notes
CURRENT ASSETS
Cash at bank
20.765
20,765
23,311
NET CURRENT ASSETS
20,765
20.765
23.311
TOTAL ASSETS LESS CURRENT
LIABILITIES
20,765
20,765
23,311
NET ASSETS
20,765
20,765
23.311
FUNDS
Unrestricted fvnds
Restricted lld5
20,765
21,942
1,369
TOTAL FUNDS
20,765
23,311
The charitable company is entitled to exemption from auditunder Sectiotj 477 of the Companies Act 20a6 for the year
cndcd 30 Scptember 2025.
TIIL tncmbcrs have not Tequired the company to obtain an audit of its fjnalleial ststements for the ycar endLd
30 8cptetiiber 2025 tn a¢¢ordan¢e with Section 476 of the Compani¢s Act 2006.
ThL ttustL'C5 iicknowled¥e theiT responsibilities for
cn%uring that th¢ charitsble company keeps accollnting record5 that ¢omply with Sections 386
Leith Festival Association Ltd Notes to the Finan¢ial Statetnents for the Year Ended 30 Se tember 2025 ACCOUNTING POLlCtES Basis of preparing the financial statements The fmancial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102} 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finallcial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Stalldard applicable in the UK ad Republic of Ireland, and the Companies Act 21106. The fujancial stsÈments have been prepared under the historical cost convelltiou. The a¢couThts ate presented in sterling which is the ch8rits fvllctional cutrellcy, alld rounded io the nearest pound. No changes have been tnade to the basis of preparing the financial ststements this year or to the previous yeaes fancial statemet]ts. Goithg CoDeerD The trustees cotjsider that there are no material uncertainties about the Charity's ability to continue as a going concern and as demot]strated on page 2 the reserves policy is being TneL Therefore the wcounts are Prepared on a going concern basis. Critical 2ccounting judgements And key sollrces of estirnxtion uncertainty The prepaiation of the finat]cial statements confornis with the requirements of the Charities SORP and Liencr81 accepted accounting piiiiciples. The only area in H4)ich it is consideied that accounting estimatcs and arcas of jiidgement have be¢n applied is depieciation. tbe policy on which 18 Outbned below. Income All Income is Te¢ognised in the Statement of Fitmncial Activities on¢¢ the charity has entitlement 10 thL funds. il is probable thai the income will be received and the amount Can be measured reliably. Expenditure Liabililics arc rccogiiised as cxpenditure as soon w there is a legal or constructive obligatioii iiiiiiiiiilliiib il)L ¢hJrity to that expcnditure, il is probable that a transfer of economic benefits will be required .%LtIlLiiiLiil 4)iJd tIIL iiniuiint of tlic oblibwation can be measured reliably. Expenditure is aCcoUnd for on an accru.'I1s hilS1.% Lliid lid% bLLn clas%ificd iiiidLr hcadiiigs that aggrcgate all cost related to the category. Where costs Cciiiiiiil IIL dirL¢ily 4111ribulcd to parliLular headInts5 they have been allocated to a¢tivities on a basis consistent willi IIIL iJ%L ol. rL%OIIICCS. I'#n%ible fixed assets I)LPI'LLialii)ii 1% pri)vidLd at thc following annual rates in order to write off each asset over its L.%IIiiiLIILd 11scliil 250/0 on reducing balance 1 xution l-IIL Lli.'Ii'ity is Lxliiipl Irom corporation tax on its charitable actiyitieg. IliirLslriLILLI liiiidb Lilll bc uscd in accordance with the c1ibIt objectives at the discretion of tllL Irii%lLL.%. IIL%lI'iilLil liiii(1s Liiti iiiily bL U%Ld for particular restricted purposes within the objects of the char Ily. RL.%lriLIiiiii% ,'Iri%L wliLii spLciliLd hy IhL di)iiui or whcn fiinds ale raised for particular restricted purposes. l.IiriliLf L¥l)lilllLilic)ii i)I' IIIL IldlurL and purpo.%c of each lld is included in the notes to the financiiil 4l&ilLIIILIII¥, Page 7
L£ith Festival Association Ltd Notes to the Financial Statements - continued for the Year Ended 30 Se tetnber 2025 ACCOUPfflNG POLICIES- contlnued Measurement of Debtor5 Trade and other debtors are recognised at the settlement amount dlle after any trade discount offered. Prepa>entS ate valued at the amount prepaid net 01 any trade discounts due. Cash At Bank and on HADd Cash at bank and cash in hand includes cash and any short terni highly liquid investments with a short Tnaturity of three months or less from the dat¢ of acquisition or opening of the deposit or similar account. Creditors And Loans Creditors and loans are recognised w4Jere the charity has a present obligation resulting from a past event that will prtsbably result in the transfer of funds to a third party and the amount du¢ to settle the obligation Can be measured or estimated reliably. Creditors and loans aTe nornmlly recognised at their settleent amount aft¢r allowing for any trade discounts due. VAT Leith Festival Association Ltd ts not VAT registered and therefore all expenses are recogDtsed gtoss of VAT. DONATIONS AND LEGACIES 30.9.25 30.9.24 DonatiOnS 2,041 2,OJ9 OTHER TRADING ACTITrTfiES 30.9.25 -31).9.24 Fundraising evetjts 8pnnborships MLtnbet5hip 12.875 8,21K) 4.900 21,075 1.S,X45 INC:OME FROM CHARITABLE ACllVITIES 30.9.25 Cb3ritabl¢ actiwties 1,632 (ifi2111.% rLLLivLd, iiiLliidLd in tlic above. are as follows.. 30.9.25 ('rL', 1.632 1,632 Pagc 8
IKith Festival Association Ltd Notes to the Financial Statements continued for the Year Ended 30 Se tember 2025 CHARITABLE ACTtvtTIES COSTS Direct Costs (see note 6) Support costs (see note 7) Totals Charitable activities 25.818 1,476 27,294 DIRECT COSTS OF CHARITABLE ACTIVITIES 30.9.25 30.9.24 Insurance Gala Week Miscellaneous Expenses Office costs CS open fi]nd expenditure Leith's got talent 1,105 21,019 775 1,895 1.098 11,271 304 2.299 1,088 1.024 25,818 16,060 SUPPORT COSTS GoveanCe costs Charitable activities 1.476 .8upport Costs, incliided in the above, are as follows.. 30.9.25 Clwitable activities I'olal Accounlan¢y and lebFdl fees 1,476 I'RU.qTEES' REMUNERATION AND BENEFrrs Dill'fLlI Siiiith la TrubicLI received remuDeration of £400 for tbe design of the festival programmL I?1114.. L411111. TIILfc W<lS ni) nihLr Iru.st¢CS' Temuneration or other benefits for the year ended 30 September 202_S iic)r Ic)r Ihc y¢Jr LiidLd 30 September 2024. I'ruitees exp¢n¥e$ TIILfc WL TL n() IruslL¢S' expenses paid for the year ended 30 September 2025 nor for IIIL YL: Page 9
Leith Festival Association Ltd Note5 to the Financial Statements- continued for the Year Ended 30 Se tember 2025 COMPAIL4TtVES FOR THE STATEMENT OF FINANCIAL ACTtVITIES Unrestricted fund Restrict¢d funds Total fidS INCOME AND ENDOWMENTS FROM Donations and legacies 2.039 2,039 Ch&ritAble actlvltles Charitable activities 2.000 3,110 5,110 Other trading activities 15,845 15,845 Totsl 19.884 3,110 22,994 EXPEF4DrruRE ON Charitable activltles Charitsble activities 16,206 1.330 17,536 NET INCOME Transfers between fud5 3,678 1,059 1.780 11,059) 5,458 Net movement in funds 4,737 721 5.458 RCI CONCILIATION OF FUNDS Total funds biouglil forward 17.205 648 17,853 TOTAL FUNDS CARIUED FORWARD 21.942 1,369 io. TANGIBLE FIXLD ASSETS AI l OLtobcr 2n24 and 10 Septeznber 2025 DTr'.l)Rb.CIA TION A1 1 ()Llc)l?Lr 21114 and 30 September 2025 Nb."I' 11()I)K VAI.[1: AI 1118LpILiiihLr 2024 Page 10
Leith F¢stival Association Ltd Notes to the Financial Statements- continued for the Year Ended 30 Se tembei 2025 ii. MOVEMENT IN VUF4DS Net movemettt in ndS Transfers betwee fijnds At 1.10.24 At 30.9.25 Unrestrfieted funds General fi]nd 21,942 (1,194) 17 20,765 Restrlcted funds Leith Chooses Asda Foundation 1,210 159 (1.0241 (328) 1186) 169 1,369 (1,3521 (17) TOTAL FUNDS 23,311 (2.546) 20,765 Net movement in fid$, included irA the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 24,748 125,942) 11,194} Restricted funds Lciili Chooses Asda Foundation {1,024) {328) 11.(1241 11,352) 11.-1521 TOTAL FULYDS 24,748 {27,294) 12,-%4111 Compgratives for movement In funds Net movement in funds Transfers between funds At 1.10.23 Al IlnrLStrictL,d fund$ 17,205 3,678 1,059 RL%lriLtL.d funds 1,059 (411) (1.0591 411 1,210 159 648 1,780 11,059) 'I'()'I'AI, II'llND 17,853 5,458 Page 11
Leith Festival Association Ltd Notes to the Financial Statements continued foi the Year Ended 30 Se tember 2025 li. MOVEMENT IN FUNDS- continued Cotnparative net movement in funds, included in the above are as follows.. Incotning resources Resources expended Movement in fL]nds Unrestricted funds General fijnd 19.884 116,206) 3,678 Restricted funds Creative Scotland Opell Fund Leith Chooses Asda Foundation 1,500 1,210 4(M) {1,089) 411 1.210 159 (241) 3,110 (1.330) 1,780 TOTAL FUNDS 22,994 117.536) 5.458 One Ci Trust This grant was received for a 17 week Banner Making project commencing in Octt>ber 2019. Due to Covid-19 the banner launch could not go ahead as planned 2020 and funds were carried forward to cnbuTe that the banner launch can go ahead. The project was completed in 23124 and any remaining fL]nds were ir<iiisfcrrLd lo Ihc general lld Creative Scotland O en Fund Cjranl funding from Creative Scotland in 23124 10 pay for live perfomiers and stage curation al IIIC bLIILi d.'iy. pagcrfinl and thc tattoo. The final Claim was received in February 2024 and the fullding has ni)w l)LLlI liilly Asdcl Foiijidation Fiiiidiiig rL¢¢ived for volunteer tneals during Gala Week in 23r24 - the remaining funds were cai'i'i¢d li)rwJr(I il) 24125 and iilili8cd during Gala week June 2025. LLiih C'h()05C l-'Liiidiiigi riiLivLd iii 23124 from Leith Choose5 for a 'Leith's Got Talent" competition- the fun(liii¥i w'i% Liirrild f()I'Wiird lu 24125 aii<l11415 now been utilised (with the competition taking place in November 20241 RkLA'l''D I'AR'I'Y I)ISCLOSURES TIILfL WLrL 1111 rLliilLd party transactions for the yeai ended 30 Sept¢mber 2025 nor for the yL&ir Lii(ILd 111 Page 12