South Carrick Community Leisure IA company lirnitsd by guarantse, not havlng a sharn capital) Annual Report and Audited Financial Statements for the financial year ended 31 March 2025 Parrls & McNally Ltd 6 Crofthead Road, Prestwick KA91HW GB Company Number: SC043090 Charity Number: SC043090 South Carrick Community Leisure IA company Ilmited by guarantee. not having a share capltal} CONTENTS Pago Reference and Administrative Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Auditor's Report 10-12 Statement of Financial Activities 13 Balance Sheet 14 Notes lo the Financial Statements 15-20 Supplementary Information relating to the Financial Statements 22-24 South Carrick Community Leisure IA company limitsd by guarantee, not having a share GapTtal) REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Chalrperson Company Secretary Charlty Nurn￿r In Scotland SC043090 Company Regi8tration Number SC043090 Registgred Office Town House 25 Knockcushan Street Girvan KA26 9AG Scotland Principal Address Town House 25 Knockcushaft Street Girvan KA26 9AG Scotland Audltoré Parris & McNalty Ltd 6 Crofthead Road, Prestwick KA9 1HW GB South Carrick Community Leisure IA company limlted by guarantee, not having a share capltal) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2025 The truslees present their Trustees, Annual Report, combining the Directors, Report and Trustees, Report, and the audited financial statements for the financial year ended 31 March 2025. The finan￿al statements are preparèd in arLOrdan￿ wilh the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Attounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordan￿ with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102). The Trustees, Report contains the information required to be provided in Ihe Truslees, Annual Report under the Statement of Recommended Praclice {SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charty law and under the charity's constitution are known as members of the board of trustees. In this report the trustees of South Carrick Community Leisure present a summary of its purpose, govemance, activities, achievemenls and finances for the financial year 31 March 2025. The charity is a registered charity and hence the report and results are p￿ sented in a form which complies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102. the organisation has implemented its recommendations where relevant in these financial statements. Principal Activity Leisure Facility Mission, Objectives and Strategy Charitable Objectives and Aims To assist in the provision of recreational facilities and, where appropriale. the organisation of recreational acb-vities available lo members of the public al large, with the object of improving their conditions of life.. To advance citizenship and community development (including urban and rural regeneration)., To promote civic responsibility, voSunteeiing. Ihe voiunlary sector aiid the elleLlivei)ess and eificieiicy Oi cl iai'ilies, arid To advance public participation In sport,. in particular within the area Ilhe Communilyl shown outlined in red on the map attached lo the Charities constitution, Iprincipally within the KA26 post code areal through.. a) The establishment and operation of a community arts and leisure facility in Girvan, Ayrshire lincorporaling accommodation lor community groups and a café/ reslaurantl,. and b) The prcivision of support (whether financial or otherwise) to a range of organisations, initiatives, activities and events which further one or more of the above purposes. Strategy Significant Activities The Quay Zone (roz) opened its doors in April 2017. Since opening it has been well supported by the GiNan and South Carrick community and has enjoyed financial stsbility. This has been the case despite the nearly two years of inte￿UpIed services due to the Covid 19 pandemic followed unceremoniously by the damage to the roof of TQZ caused by stomi Isha in January 2024. In last year's accounts we reported that the damage caused by water ingress throughout the building had resulted in ils dosure for the foreseeable future. Following the closure, we were fortunate to be able to agree a lease of a temporary swirnming pool in Maybole which we opened at the end of February 2024. This was followed in July by premises from which we were able to provide gym facilities and accommodation for limited fitness classes. We are grateful to Soulh Ayrshire Council (SAC) for Iheir assistance in securing both premises. During the financial year 2024125 the loss of TQZ has had a profound affect on our ability to provide our previous range of Services. Securing a lease of the former Maybole Swimming Pool was a tremendous stroke of luck and allowed us to provide a near full range of activities including to general and lane swimming, fun float and aquafit sessions. our Learn to Swim programme for junior swimmers and, from January 2025, a full primary schools swimming programme. The availability of trained and qualified staff meant that initially opening hours had lo be restricted to three full days and Saturday moming and although we had hoped to increase this later in the year this did not prove lo be possible. South Carrick Community Leisure IA company limited by guaranteo, not having a sharg capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2025 Initially, as reported last yearfs annual a¢¢ounls, altendances for the Learn lo Swim and olher activities was high, 240 participants per month in May 2024 but this figure fell to 210 by March 2025 a fall of 12.5 /.. We believe the Ios5 of youn9 swimrners can be attributed to a de9ree of faligue, cost and inconvenience of travelling to Maybole over an extended period. Whilst numbers for Aquafit and lane swimming have remained relatively constant other swimming sessions were not well attended and Trustees continued lo balance the desire for additional days of opening of the pool against any likely increase in income and attendance and the availability of trained and qualified staff. Although slightly later than hoped we were able to agree the lease of the ground floor of the Girvan Community Centre with South Ayrshire Council. This has been used to provide a good-sized gym and space for a weekly programme of 19 instructor led fftness classes together with a re-located general office spa￿. Membership since opening in July 2024 increased month on month and stood at 365 by the end of March 2025. Ofthese about 55 people used their membership almost exclusively to swim {lane swimming and Aquafit) the remainder (850/0 of members) used their membership for gym and fitness dass attendance. Support for our staff was a significant operational consideration sin￿. as with Covid, we were clear Ihal resuming a fijll Quay Zone operation wotjld happen although we did not know when. In practice we have been able to retain all fjjll and part lime employees throughout the disruption and deploy them across the operational sites. However. it ha5 proved exceedingly challenging at times to maintain the requisite skills and supeNision levels at the locations. In the case of the swimming pool al Maybole these problems have been exacerbated by the age and breakdown prone nature of some of the equipment. Trustees are grateful to the staff for, at times, 'mucking in" to keep the facilities and services operational and welcoming to the community. As set out in these a￿OuntS 2024125 has proved a cha15enging trading year for South Carrick Community Leisure {.8-CL). While we have been able to maintain a level of membership income we had to reduce the price from the previous £28 per month to £20 reflecting the reduced service offer we have been able to make and, in respect of the Swimming pool, the greater travel distan￿ for customers. Nevertheless, maintaining a Presence and setvice across our principal activities has been key to maintaining our charitable purpose over the year. Significantly. in the absence of all our olher facilities little or no additional income has been possible. Since 2017 the charity has. as part of its insurance cover, maintained a Business Interruptlon policy. Since the stomi we have received pay-outs totalling £200K. The policy covers up to years of service interruption taking us up until February 2026. Without its provisions it 15 unlikely South Carrick Community Leisure would have been able to maintain its sejvices. Negotiations are on-going lo determine further business interruption payments that will take us up to the end of the pay-out period covered by this aspect of our insurance. Following the dosure of The Quay Zone our landlord. South Ayrshire Council. effectively took control of the building as, although we pay for it, the Council maintain5 our building fabric Insurance cover and through that, dealings with the insurers. Following the storm, the focus was on getting the building wind and water tight once more. Such was the damage this required that the building be re-roofed. This took until July 2024. Once this was achieved work began on drying the interior of the structure and removing all damaged parts of the building. In practice thi5 has involved stripping out walls, floors, ceilings Se￿iceS and essentially everything on Ihe custoffler accessible side of the building leaving only a shell. In January 2024 Trustees had been discussing wtth South Ayrshire Council the possibility of a further investment in the building to provide increased café and meeting Spa￿ together with a terrace on the first floor offering views out to Ailsa Craig. This latter component was always an aspiration for the building but one that could not be met in 2017. In view of the damage caused by the storm it was decided that the potential extension and the reinstatement ofthe storm damage should, so far as possible, be completed at the same time. This proposal became a reality when towards the end of Ihe financial year the Council approved fijnding and reached agreement with ils insurers over the re-instatement of the building. As this report is being prepared tenders for all the work are being progressed by SAC and it is expected that all work will start by the middle of 2025. During the course of the year separate discussions have continued with our insurers to determine the extent of material and equipment losses. Tentative write offs for the soft play and gym equipment have been agreed and we hope to agree the remainder of our losses early in the next financial year allowing for our claim to be settled in time to purchase replacements for the fijture re-opening. Financially the accounts demonstrate that the charity continues lo trade in a sustainable way, nO￿lthstanding the challenges presented by the loss of the Quay Zone in January, 2024. The Statement of Financial Activities identifies that Total income {£661,3821 was £124,086 less than the previous year reflecting the loss of trading income caused by the loss of TQZ facilities and having to charge less for the facilities and seN1￿$ we were able lo provide. Whilst Total Expenditure was reduced. £669.144 this year compared with £810,019 last year were able to trade viabty (net loss of £(7,762)) as a result of the Boards prudent investment in Business Inlerruption insurance. As mentioned in last yearfs Accounts Trustees have been working with SAC to agree the refurbishment and repair of South Carrick Community Leisure IA company limited by guarantee, not having a share capltall TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2025 TQZ. It has been agreed that the swimming pool, gym and fitness sludios together wth ancillary changing facilities will be handed back to SCCL in late December 2025 while the extension element of the building will follow on towards the end of March 2026. In practice this will mean thal it should be possible to reinstate a full membership offer al the beginning of 2026 with a full café soft play and other activities package being available from Easter 2026. However. ahead of resuming services at the Quay Zone a great deal needs to be done to redesign and procure new gym equipment, a new soft play structure a cornplete refft of Ihe café together wilh making a host of staff. back office and organisational changes and affangemenls. Trustees are indebted to South Ayrshire Council for its continued financial and practical support. Vve are also indebted to Nadara, funder of the Assel Valley Community Benefit Fund and the Tralorg Community Benefrt Company, for their continued financial supporl. Looking forward to 2025126 During 2025126 Trustees and staff will be focused on a number of key areas". Continue to provide swimming, gym and fitness dass seNices for all users al Maybole and Girvan Work with South Ayrshire Council to agree the details of the refurbishment and extension of TQZ,. Agree a settlemenl with insurers for the totality of the SCCL claim and., SpecFfy and procure replacement goods. services and equipment to facilitate the re-opening of TQZ The contribution of Government and other Agencies South Carrick Community Leisure, as provided for in a Minute of Agreement wrth South Ayrshire Council, receives £220.000 in four equal quarterly instalments towards the running costs of TQZ. Additional unrestricled grant support is provided by the Girvan and District Assel Valley Community Benefit Fund provided by Nadara administered by Foundation Scotland and from the Tralorg Community benefit Fund owned by Railpen. The extent of these contributions is acknowledged elsewhere in these accounts. The contribution of Volunteers The Board of Trustees is made up of members of the local community who are all unpaid volunteers. Their continued support and contribution enable TQZ lo be sustained as a much-needed community run asset for the South Carrick community. Governing Document South Carrick Community Leisure was formed in 2012 and is a Scottish Charitable Incorporated Organisation ISCIOI. A SCIO provides limited liability and separate legal identity lo organisations that want lo become charily's, bul do not want or need the complex legal structure of company law. SCIOS are re9ulated by the Office of the Scotlish Charity Regulator IOSCRI and do not need lo register with Companies House. South Carrick Community Leisure is operated in accordance with its 2012 Constilulion. Recruitrnent and appolntment of new Trustees Trustees are appointed to Ihe Board by the membership al an Annual General meeting. Three trustees musl stand down each year at an AGM. but maybe re-elected if they are willing to sland. Where there is a vacancy between Annual General Meetings then members may be ccpopled to the Board, however, anyone co-opted in this way musl also put themselves up for election at the next Annual General Meeting. Oryanlsational struclure Day to day responsibility for all operational matters is delegated the general Manager and employee team. The full Board of Trustees meets every months, but as circumstances dictaled additional meetings were added into the schedule as required by the exigencies of the charity and Ihe operation of TQZ. At each meeting the progress of TQZ in operational and financial temis is considered as required by the constilution. No sub committees were in operation during the year although individual groups of Trustees were involved in the delivery of specific initiatives as directed and agreed by the Board. Induction and Training of new trustees Training and relevant information on South Carrick Community Leisure and the operation of The Quay Zone is given to new trustees During 2024-25 all Trustees successfully completed and National Society for the Prevention of Cruelty to Children on-line course 'Charity Trustees: your duties to safeguard and protect (2.0)°. South Carrick Community Leisure IA conipany limitsd by guarantee. not having a share capital) TRUSTEES, ANNUAL REPORT for the financial year ended 31 Mar¢h 2025 Review of Activities, Achievements and Perfomiance Charitable Activlties The continued successful operation of The Quay Zone throughout 2024-25 ￿PreSentS a ffijrther milestone in the life of South Carrick Community Leisure and fulfils one of the key objectives and aims of the charity as set out in its constitution. Regrettably the challenges facing the chatity have, if anything increased over the last year and continued success will require the renewed commitment and contribution of all TnJstees to return the Charity lo more normal operations in 2026 and beyond. Financial Review The results for the financial year are set out on page 13 and additional notes are provided showing income and expenditure in grealer detail. Financial Results At the end of the financial year the charity has assets of £541,60612024 - £555,699) and liabilities of £108,364 {2024 - £114,695). The net assets of the charity have decreased by £(7.762). Financlal Positions In a "nomial. operating year the charity's income is derived from the provision of goods, services and facilities (trading income) logelher with granl support from South Ayrshire Council and contributions froffl two windfarm community benefit companies. Durfing 2024-25 trading income was severely restricted as a result of the loss of TQZ. but as sel out elsewhere alternative factlity provision was secured ensuring that from July 2024 reduced membership income coutd be generated from gym, swim and classes togetherwith payments for our Learn to Swim programme for young leamers. We were fortunate Ihat grant and Community benefit support continued to be made available and taken together wth Business Interwption Insurance claims the operaling loss shown in these accounts will be completely mitigated once a settlement with insurers is reached. SCCL is in part fvnded by Nadara Assel Valley Cornmunity Fund (South Carrick Community Leisure), administered by Foundation Scotland. Reserves Position and Policy As a volunteer led communty enterprise trustees consider that the enterprise faces a number of risks that require it to maintain financial reserves in relation to the following-. Unforeseen cost pressure brought about by either aloss of a major grant funder or an unforeseen signrficant increase in, for example, energy costs. In the event that TQZ could not continue lo trade on a break-even basis and trustees considered that it was not a viable ongoing concem. In such circumstances Trustees would need to affed an orderly wind-up of all trading activities. Under our propety leasè responsibility for replacemenv refurbishment of plant and equipment is the charity's responsibility and given the scale and complexity of the plant and machinery in use for healing, power, ventilation and water treatment, could present significant cost implications, particulady as the building ages. Significant components of our income relate lo the gym, the soft play and the café. We require to periodically invest in replacement and upgrades to these facilities beyond the routine investment in timely maintenance and repair. Failure to invest in this way could result in a trading loss. The reseryes fvnd will also function as a buffer for cash flow issues arising as a result of grants and income funds being received in arrears. Level of Reserves Required Based on the foregoing reseNes policy rationale, Trustee have concluded that Ihe following level of reserves needs to be maintained.. Cost Description Amount or Basis of Calculation Amount Unforeseen cost pressures Winding up of enterprise Doubling of utility costs £88,000 3 Months operating costs £212,000 South Carrick Community Leisure IA comparry limlled by guarant¢e, not having a share ca*ll TRUSTEES. ANNUAL REPORT for the finanaal year ended 31 March 2025 Major plant / equipment replacement Major refurbishment / investment Fixed amount £50,000 Fixed amount £50,000 Total £400.000 It is anticipated that as the next financial year progresses it will be necessary lo draw on the Charity's reserve funds. FUTURE PLANS Throughout 2024-25 the emphasis has beon on providiTr3 and sustsining a range of GOTe seNices from the temporary faolities in Gip4an and Maybole. During 2025-26 the inilial focus will be on planning and preparing to resume services al The Quay Zone. Currently Il is planned that the swimming pool, gym and studio spaces will be returned lo us in late December 2025 with the remainder of the extended building (café and soft play) maée available to us by the end of the finanGial year. The resumption of services in a completely refurtjished and extended building will, in many ways. be equivalenl to original opening in 2017. Consequently, procuring new gym, soft play, café and other equipment will be a priority a5 will training and back office preparation for the phased reinlroduction of Servi￿5. Trustees and management will be focused on preparing for a full resuTnption of setvices by the end ol the next financial year. Trustees The trustees ivho served throughout the financial year. except as noted, were as follow5. I n JCL(iid-Yce yjilli the Conslitulion. Ihe IrLbslees relire by iolaliofi and. being el..yible. oifei Ihernselvps lor re_election The secretary who served duiiiig lhe financial year was.. J Parkhill Compliance wrth Sector-wide Legislation and Stsndards The chanty engages pr Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). Basis for oplnion We conducied our audit in accordance with Intemational Standards on Auditing {UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Audilofs responsibilities for the audit of the financial slalements section of our report. We are independent of the charity in accordance with ethical requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo piovide a basi5 for our opinion. Conclusions relating to going concern In auditing the financial statements, we Mave concluded that the Irustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions period of <11 least twelve months froin the date when the financial siatemenls are aulhorised for Issue Our iesponsibilities and the responsibilities of the Iruslees with respect lo going concern are described in the relevant sections of thi5 report. Other Infomiation The other information comprises Ihe information included in the annLsal report other than the financial statements and our Auditor's Report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicrtly stated in our report, we do not express any fom of assurance conclusion Ihereon. Our responsibilily is to read the other infomation and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othetwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether thi5 gives rise to a material misstaternent in the financial Statements themselves. If, based on the work we have performed, we conclude that there is a material misslatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Annual Report for the finanaal year for which the financial statements are prepared is consistenl with the financial statements-, and the Trustees, Annual Report has been prepared in accordance with applicable legal requirements. 10 INDEPENDENT AUDITOR'S REPORT to the Members of South Carrick Community Leisure (A Gompany Ilmited by guarantse. not having a share Gapital) Matters on which we are requlred to report by exception In the lighl of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstalements in the Trustees, Annual Report. We have nothing to report in respect of Ihe following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept", or the financial statements are not in agreement with the accounting records and returns-, or certain disclosures of trustees, remuneration speeified by law are not made.. or the trustees were not entitled to prepare the financial statemenls in accordan￿ with the small cofflpanies regime and lake advantage of the small companies, exemption in preparing the Truslees, Annual Report. Responslbillties of trustees for the financial statements As explained more fully in Ihe Statement of Trustees, Responsibilities set out on page 8, the trustees are responsible for the preparation of Ihe financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is ne￿$Sary to enable the preparation of financial statements Ihal are free from material misstatement, whether due to fraud or e￿0[. In preparing the financial slatemenls, the trustees are responsible for assessing the charity's ability lo continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis ol accounting unless managemenl either intends to liquidate the charity or to cease operations, or has no realistic altemative but to do so. Auditorfs responsibilities for the audlt of the flnanclal ststements Our objectives are to oblain reasonable assuran￿ about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assuran￿ is a high level of assurance, but is not a guarantee thal an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when il exists. Misslatements can arise from fraud or error and are considered material rf, individually or in Ihe a99regate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance wtth laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatefflents in ￿spect of irregulanties, induding fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Further inforniation regarding the scope of our responsibilities as auditor As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintsin professional S￿pticisrn throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial stateTnents, whether due to fraud or error, design and perform audit prO￿dureS responsive to those risks, and obtain audit eviden￿ that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resuming from error, as fraud may involve collusion, forgery, intentional omissions. misrepresentations, or the override of intemal control. Obtain an understanding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the Circumstances, but not for the purpose of expressin9 an opinion on the effectiveness of the charity's internal control. Evaluate the appropriateness of a¢xounting policies used and the reasonableness of acwunting estimates and related disdosures made by trustees. Conclude on Ihe appropriateness of the INstees' use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainty exists relaled to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we condude that a material uncertainty exists. we are required lo draw attention in our Auditoffs Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our condusions are based on the audit evidence obtained up to the date of our Auditorfs Report. However, future events or ￿nditionS may cause the charity to cease to continue as a going concem. Evaluate Ihe overall presentation, stTUCture and content of the financial slalements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 11 INDEPENDENT AUDITOR'S REPORT to the Members of South Carrick Community Leisure IA Gompany Ilmited ty guarantee. not havlng a share capltal) We communicate wlth those charged with governance regarding, among other rnatters. the planned scope and timing of Ihe audrt and Significant audri findings, irKluding any significant deficiencies in internal CDntrol that we identify during our audit. The purpose of our audlt work and to whom we owe our rosponslbllltles This report is made solely to the charily's members, as a body, in acc*JrdancE with Chapter 3 of Part 16 ofthe Companies Act 2006. Our audit work ha8 been undertaken so Ihal we might state lo the charity's members those matters we are required lo stste to them in an auditor's Teport and for no other purpose. To the fullest 8xlent p8miitted by law, w8 do not accepi or assume r8sponsibility lo anyone other than the charity and the charity's membeTS as a body, for our audit work, for this report, or for the opinions we have fomied. For and on behalf of Aco Bloo Eligible to act as an auditor in terms of Section 1212 ()f the Companies Act 2(106 Noida Office 3rd Floor B-151 Sector-6 Noida- 201301 Dale.. 12 South Carrick Community Leisure IA company Ilmited by guarantee. not havlng a share capital) STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and ExpendEture Accounti for the finanaal year ended 31 Marth 2025 Unrestricted Fundg 2025 Total Unrestricted Funds Funds 2025 2024 Total Funds 2024 Notes Income Donations and legaues Charitable activities Grants from governments and other Go-funders other income 355,204 355,204 351,047 351.047 156,178 150,000 156,178 150,000 444,421 20,0(H) 444,421 20,000 Total income 661.382 661.382 815,468 815,468 Expenditure Raising funds Chaiitable activities 35 669,109 35 669,109 810.019 810,019 Total Expenditure 669,144 669,144 810.019 810,019 Nèt incornel{expenditurel 17,762) {7,762 5,449 5,449 Transfers be￿een funds Net movement In funds for the finanGial year 17,762) <7,762) 5,449 5,449 Reconciliation of funds: Total funds beginning of the year 13 441,004 441,004 435,555 435.555 Total funds at the end of the year 433,242 433,242 441,004 441,004 The Statement of Financial Activities includes all gains and losses recognised in the fjnancial year. All income and expenditure relate lo continuing activities. The nolas on pa9es 15 10 20 form part of the financial statements 13 South Carrick Community Leisure IA company limited by 9uarantee, not having a Sha￿ Gapltall Cornpany Number: SC043090 BALANCE SHEET as al 31 MaTch 2025 2025 2024 Note8 Flxed Assets Tangible assets 32.775 42,125 Current A88ets Debtors Cash at bank and in hand 10 14,150 494.681 13,260 $00,314 508,831 513,574 Creditors: Amounts falling due withln one year 11 (108,364) (114,695} Net Current Assets 400,467 398,879 Total Assets less Current Llabllitles 433,242 441,004 Funds General fijnd lunreslridedl 433,242 441,¢J04 Totsl funds 13 433,242 441.004 These financial statements h8ve been prepared in accordance With the special provisions relating to small companies within Part 15 of the Companies Act 21J)6. The finanaal statements have been prepared in accordance with the provisions applicable to companies subj-ect to Ihe small companies, regime and in accordance with FRS 102 'The Financial Reporting Sland3rd applicable in the UK and Rp.niihlir. nf Irp.land" ant)Ivinn qp.rtinn 1 A cjl th/1 ql%ndard Approved by the Board of T￿Slee$ and authorisod for issue on behalf by and slgned on Its The notes on pages 15 to 20 form part of the financial statements 14 South Carrick Community Leisure IA company Ilmlted by guarantee. not havlng a share capital) NOTES TO THE FINANCIAL STATEMENTS for the finanrial year ended 31 Marth 2025 GENERAL INFORMATION South Carrick Community Leisure is a company limited by guarantee incorporated in the Scotland. The registered office of the charity is Town House, 25 Knockcushan Street, GiNan, KA26 9AG, Scotland which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied con5iStently in dealing with items which are considered material in relation to the charity's financial statements. Basis of preparation The financial statements have been prepared on Ihe going concern basis under the historical cost convention, modified lo include certain items al fair value. The financial Statements have been prepared in accordance with the Statement of Recommended Practice (SORP> "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland FRS 102" applying Section 1A of that Slandard. As pemitted by the Companies Act 2006, the charity has varied the standard formats in that act for Ihe Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of Ihe Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. Slatsment of compliance The financial statements of the charity for the financial year ended 31 March 2025 have been prepared on the going concem basis and in accordance with the Statement of Recornfflended Practice (SORP) "Accounting and Reporting by Chartlies prepartng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. Fund accounting The following are the categorie5 of funds maintained- Restricted funds Restricted funds represent income received which can only be used for particular purposes, as specified by Ihe donors. Such purposes are within the overall objectives of the charity. Unrestricted funds Unrestricted funds consist of General and Designated funds. General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity. Designated funds comprise unrestricted funds that the board has, at its discretion. set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's dIscret￿n lo apply the fund. Income Income is recogni5ed by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, perfomiance conditions attached to the ttem(s) of income have been met. the amounts involved can be measured with suffiaent reliability and it is probable that the income will be received by the charity. Income from charitsble activities Income from charitable activities include income eamed from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services lo be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. ￿ere entitiement o¢curs before income is received, il is accrued in deblors. Grants from governments and other co-funders typically indude one of the following types of conditions.. Perfonnance based conditions.. whereby the charity is contractually entitled to funding only to the extent that 15 continued South Carrick Community Leisure IA company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of grant agreement, it recognises the related expenditu￿, to the extent that it is reimbursable by the dorior, as income. -Time based conditions.. whereby the tharity is contractually entitled lo funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement. In the absence of such conditions. assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the tharity is notified of entitlement. Grants received towards capital expenditure are credited to the Statemenl of Financial Activities when received or receivable, whichever is earlier. Expenditure Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to Iheir major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those fvnctions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated lo activities in proportion to slaff time spent or other suitable measure for each activity. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost or at valuation, less accumulaled depreciation. The charge to depreciation is calculated to write off the original cosl or valuation of tangible fixed assets. less their estimated residual value. over their expected useful lives as follows.. Calegory COA F8F Office EquiFmpnl IT IT Syslonis Average Rate ISLI DebtOTS Debtors are recognised al the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agenues and other co-funders, but not yel received at financial year end, is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit at bank5 requiring less than three months notice of withdrawal. 16 continued South Carrick Community Leisure IA company limited by guaranteg. not having a share ¢apilal> NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 Taxatlon and deferred tsxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. Deferred tax is recognised in respect of all timing differences that have originated bul not reversed at the balance sheet date where Iransactions or events have occurred at that date that will result in an obligation to pay more tax in the fijture. or a right to pay less tax in the future. Timing differences are lemporary differences between the charity's taxable income and its results as staled in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse. based on tax rates and laws that have been ena¢ted or substantively enaded by the balance sheet date. INCOME DONATIONS AND LEGACIES Unrestricted Restrlcted Funds Funds 2025 2024 Donations and legacies 355,204 355,204 351,047 CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds 2025 2024 Grants from governments and other co-funders: Income from charitable activities 156,178 156,178 444,421 OTHER INCOME Unrestricted Restricted Funds Funds 2025 2024 Other income 150,000 150,000 20,OtM) EXPENDITURE RAISING FUNDS Direct Costs Other Costs Support Costs 2025 2024 Raising funds 35 35 CHARITABLE ACTIVITIES Dlrect Costs Other Costs Support Costs 2025 2024 Expenditure on Gharitable activites Governance Costs (Note 4.3) 8,155 5,298 655,656 13,453 655,656 810,019 8,155 660,954 669.109 810,019 GOVERNANCE COSTS Direct Costs Other Costs Support Costs 2025 2024 Charitable activities - govemance costs 655,656 655,656 810,019 17 continued South Carrick Community Leisure IA company Ilmlted by guarantee. not havlng a sho￿ ¢apitall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 SUPPORT COSTS Cost of Charitable Governance Raistng Activities Costs Funds 2025 2024 Support 35 5,298 655,656 660,989 810,019 ANALYSIS OF SUPPORT COSTS 2025 2024 Support 506,910 810.019 NET INCOME 2025 2024 Net Income Is stated after Chargingllcr￿1ting}. Depreciation of tangible assets 16.610 16,357 INVESTMENT AND OTHER INCOME 2025 2024 Sundry incorne 150.000 20,000 EMPLOYEES AND REMUNERATION The staff costs comprise-. 2025 2024 Wages and salaries 396,518 472,167 TANGIBLE FIXED ASSETS Plant and Fixtures, machinery fittings and equipment Computer equipment Total Cost Al 1 April 2024 Additions 300.938 6,549 45.199 711 40,292 386.429 7,260 At 31 March 2025 307,487 45,910 40,292 393.689 Depreciation At 1 April 2024 Charge for the financial year 278.021 9.350 27,924 5,749 38,359 1,511 344.304 16,610 At 31 Marth 2025 287,371 33,673 39,870 360,914 Net book value At 31 Marth 2025 20,116 12,237 422 32.775 At 31 March 2024 22,917 17,275 1,933 42,125 18 continued South Carrick Community Leisure (A company limited by guarantee, not havlng a share capltall NOTES TO THE FINANCIAL STATEMENTS for Ihe financial year ended 31 March 2025 10. DEBTORS 2025 2024 Trade debtors Stock Taxation and social security costs 4,353 3,055 6.742 5,097 4,588 3,575 14,150 13,260 11. CREDITORS Amounts falling due within onè year 2025 2024 Trade creditors Taxation and social security costs Other creditors Accruals and deferred income 52,472 11,331 18,538 5,401 44,560 90,756 108,364 114,695 12. RESERVES 2025 2024 At the beginning of the year IDeficit}ISurplus for the financial year 441,004 (7,762) 435.555 5,449 At the end of the year 433.242 441,004 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds Al 1 April 2023 Movement during the financial year 435.555 5,H9 435,555 5.449 At 31 March 2024 Movement during the financial year 441,004 (7,762) 441.004 {7,762) At 31 March 2025 433,242 433,242 13.2 ANALYSIS OF MOVEMENTS ON FUNDS BalanGe 1 April 2024 Incomo Expendlture Transfers between funds Balanee 31 Mar¢h 2025 Unrestricted funds Unrestricted General 441,CQ4 661,382 669,144 433,242 Total funds 441.004 661,382 669,144 433,242 19 continued South Carrick Community Leisure {A company Ilmited by guarantge, not having a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2025 13.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current liabilities Total Restricted trust funds 5,000 {5.000) Unrestricted general funds 32,775 503,831 {103.364) 433,242 32,775 508,831 {108,364) 433,242 14. STATUS The charity is a company limited by guarantee not having a share capital. The liability of the members is limited. Every member of the company undertake5 to contribute to the assets of the company in the evenl of its being wound up while they are members, or within one financial year thereafter, for the payment of the debts and liabilities of Ihe company contracted before they ceased to be members, and the costs, charges and expenses of winding up, and for the adjustment of Ihe rights of the contributors among themselves. such amount as may be required, not ex￿edIng £ 1. 15. POST-8ALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial year-end. 20 SOUTH CARRICK COMMUNITY LEISURE IA company Ilmlted by guarantee, not having a share capilall SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025 NOT COVERED BY THE REPORT OF THE AUDITORS 21 South Carrick Community Leisure {A company limited by guarantee. not having a share capital) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS OPERATING STATEMENT for the financial year ended 31 Marth 2025 2025 2024 Schedule Income 511,382 795,468 Charitable activities and other expenses 1669,1441 (810,019) 1157,762} 114,551) Miscellaneous income 150,000 20,000 Net (deficstllsurplus {7,7621 5.449 The supplementary information does not fomi part of the audited financial statements 22 South Carrick Community Leisure IA company limited by guarantee, not having a share capitall SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS SCHEDULE 1 . CHARITABLE ACTIVITIES AND OTHER EXPENSES for the finanaal year ended 31 March 2025 2025 2024 Expenses Wages and salaries Staff training Purchases Concessions Venue Hire Evenlbrile Fees Residual VAT Events Software li￿nCeS Insurance Light and heat Repairs and maintenance Printing, postage and stationery Advertising Telephone Consultancy fees Accountancy Bank charges Other resourr£s expended General expenses Subscriptions Depreciation 396,518 4.708 2,463 896 472,167 5,874 51,915 4,267 653 127 6,156 359 17.607 22,235 88,555 67.419 770 10.771 9,208 13,370 630 16.809 28,537 112.658 14,773 923 3,905 1,503 815 11,340 3.374 25,921 11,963 1,428 16,610 2,391 5.869 15,569 9,807 1,943 16,357 669,144 810,019 The supplementary information does not fonn part of the audited financial statements 23 South Carrick Community Leisure IA company IirnTted by guaranteg. not havlng a share capltall SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS SCHEDULE 2: MISCELLANEOUS INCOME for the financial year ended 31 March 2025 2025 2024 Miscellaneous Incomè Sundry income 150,000 20,000 The supplementary information does not fonm part of the audited financial statements 24