Company registration number SC420351 (Scotland) Charity registration number SC043061 (Scotland)
STEWARTRY COMMUNITY SPORTS CLUB
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
STEWARTRY COMMUNITY SPORTS CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr D Walker - Chairman Mr C Kennedy - Vice Chairman Mr E Fenwick - Treasurer Mr G Legg - Secretary
Charity number (Scotland) SC043061 Company number SC420351 Principal address Lochside Park Castle Douglas DG7 1EZ Registered office 15 Corse Hill Haugh of Urr Castle Douglas DG7 3YE Independent examiner Jennifer McDairmant FCA Saint & Co Chartered Accountants 26 High Street Annan Dumfries & Galloway DG12 6AJ Bankers Royal Bank of Scotland 133 King Street Castle Douglas DG7 1NB
STEWARTRY COMMUNITY SPORTS CLUB
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 - 11 |
STEWARTRY COMMUNITY SPORTS CLUB
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The charity's objectives are to promote, foster and encourage participation in squash, tennis, keeping fit and such games and sports as may be considered appropriate.
There has been no change in these objectives during the year.
The trustees have paid due regard to guidance issued by the Office of the Scottish Charity Regulator in deciding what activities the charity should undertake.
Financial review
As our year-end accounts continue to show, the club is in a very healthy financial position, and continues to attract new members. Membership has never been higher.
Changes in 2025 included a wide range of replacement and augmented items of Gym kit, although our re-equip of the Aerobics Room continues to be frustrated by the lack of supplier response to a number of AR equipment issues.
This year we will probably be considering work on the surface of the tennis courts, which are beginning to need attention.
Thanks as always go to our dedicated committee for making all this possible.
Reserves policy
It is the policy of the Sports Club that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Investment policy
Under the memorandum and articles of association, the charity has the power to make any investments which the trustees see fit.
Major risks
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a company limited by guarantee.
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STEWARTRY COMMUNITY SPORTS CLUB
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr D Walker - Chairman Mr C Kennedy - Vice Chairman Mr E Fenwick - Treasurer Mr G Legg - Secretary
The trustees' report was approved by the Board of Trustees.
Mr D Walker - Chairman
Chairman
13 April 2026
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STEWARTRY COMMUNITY SPORTS CLUB
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF STEWARTRY COMMUNITY SPORTS CLUB
I report on the financial statements of the charity for the year ended 31 December 2025, which are set out on pages 4 to 11.
Respective responsibilities of trustees and examiner
The charity’s trustees, who are also the directors of Stewartry Community Sports Club for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(a) which gives me reasonable cause to believe that in any material respect the requirements:
-
(i) to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
-
(ii) to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
have not been met or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Jennifer McDairmant FCA Saint & Co Chartered Accountants 26 High Street Annan Dumfries & Galloway DG12 6AJ
Dated: 17 April 2026
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STEWARTRY COMMUNITY SPORTS CLUB
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
| Unrestricted funds 2025 Notes £ Income from: Sports club income 3 45,504 Bank interest 4 832 Total income 46,336 Expenditure on: Charitable activities 5 30,654 Net income for the year/ Net movement in funds 15,682 Fund balances at 1 January 2025 432,429 Fund balances at 31 December 2025 448,111 |
Total 2024 £ 43,744 685 |
|---|---|
| 44,429 | |
| 29,863 | |
| 14,566 417,863 |
|
| 432,429 |
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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STEWARTRY COMMUNITY SPORTS CLUB
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
| Notes Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds 11 |
2025 £ 89,500 (2,222) |
£ 360,833 87,278 448,111 448,111 448,111 |
2024 £ 75,263 (2,064) |
£ 359,230 73,199 |
|---|---|---|---|---|
| 432,429 | ||||
| 432,429 | ||||
| 432,429 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 13 April 2026
Mr D Walker - Chairman
Chairman
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STEWARTRY COMMUNITY SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
Charity information
Stewartry Community Sports Club is a private company limited by guarantee incorporated in Scotland. The registered office is 15 Corse Hill, Haugh of Urr, Castle Douglas, DG7 3YE.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming resources
Income is recognised when the charity is legally entitled 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 donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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STEWARTRY COMMUNITY SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
(Continued)
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis 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.
1.5 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment 25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.6 Impairment of fixed assets
At each reporting end date, the charity reviews 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 indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7 Cash and cash equivalents
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 liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost 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 classified as receivable within one year are not amortised.
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STEWARTRY COMMUNITY SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2025 | 2024 | |
| £ | £ | |
| Sports club income | 40,680 | 40,965 |
| Membership fees | 4,654 | 2,779 |
| Other | 170 | - |
4 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Interest receivable | 832 | 685 |
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STEWARTRY COMMUNITY SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
5 Expenditure
| Electricity and gas Insurance Cleaning Property repairs and renewals Telephone and internet Affiliation fees Administration Sundry expenses Independent examiners fee Depreciation Coaching Expenses Membership costs 6 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets |
2025 £ 8,859 1,715 5,702 1,973 741 390 1,783 690 276 6,278 1,976 271 30,654 30,654 2025 £ 276 6,278 |
2024 £ 8,935 1,639 5,959 2,135 609 280 1,578 600 276 5,743 1,996 113 |
|---|---|---|
| 29,863 | ||
| 29,863 | ||
| 2024 £ - 5,743 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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STEWARTRY COMMUNITY SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9 Tangible fixed assets
| Cost At 1 January 2025 Additions At 31 December 2025 Depreciation and impairment At 1 January 2025 Depreciation charged in the year At 31 December 2025 Carrying amount At 31 December 2025 At 31 December 2024 |
Land and buildings Equipment £ £ 342,000 57,123 - 7,882 342,000 65,005 - 39,894 - 6,278 - 46,172 342,000 18,833 342,000 17,230 |
Total £ 399,123 7,882 |
|---|---|---|
| 407,005 | ||
| 39,894 6,278 |
||
| 46,172 | ||
| 360,833 | ||
| 359,230 |
10 Creditors: amounts falling due within one year
| Corporation tax payable Trade creditors |
2025 £ 158 2,064 2,222 |
2024 £ - 2,064 |
|---|---|---|
| 2,064 |
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 1 | January | Incoming | Resources | At |
31 | December | |
|---|---|---|---|---|---|---|---|---|
| 2025 | resources | expended | 2025 | |||||
| £ | £ | £ | £ | |||||
| General funds | 432,429 | 46,336 | (30,654) | 448,111 |
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STEWARTRY COMMUNITY SPORTS CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
(Continued)
| 11 | Unrestricted funds | (Continued) | ||||
| Previous year: | At 1 January | Incoming | Resources | At |
31 December | |
| 2024 | resources | expended | 2024 | |||
| £ | £ | £ | £ | |||
| General funds | 417,863 | 44,429 | (29,863) | 432,429 |
12 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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