REGISTERED CHARITY IYUMBER: SC043536 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 FOR XCEL YOUTH TRUST (SCIO) JRW Hogg & Thorburn LLP Chartered Accountants 19 Buccleueh Street Hawick Roxburghshire TD9 OHL
XCEL YOUTH TRUST (SCIO) CONTENTS OF THE FINANCIAL STATEmEs FOR THE YEAR ENDED 31ST MARCH 2025 Page Report of the Trustees Independent Examiner's Report Slatement of Finaneial Actlvities BAlance Sheet Notes to the Fingllcial Statements 7 to 13 Detailed Statement of Financial Activities 14 to 15
XCEL YOUTH TRUST (SCIO) REPORT OF THE TRUSTEES FOR THF. YEAR ENDED 31ST MARCH 2025 The trustees present their reEx)rt with the finan¢ial stst¢m¢nts of the charity for th¢ year ended 3 1st March 2025. The trustees have adoptcd thc provisions of Accoujiting and Reporting by Charities: Siatement of Recommended Practice applicable lo charitics preparing their accounts in accordance wilh the Financial Rep)rting Sldndard applicable in the UK and Republic of Ireland (FRS 102) (effeclive l January 20I9)- OBJECTIVES Ary) ACTIVITIES Objectives and aims Th¢ principal objects of the charity ar¢:_ (i) to provide recreational facilities or organise recreationaj activities for young peopl¢ with the object of improving the conditions of lit.e and irnpmving the health and ¢ducation (including physi1 education) of the inhabitants of Eskdale and the surrounding ar¢as through, without limitation, the provision of facilities or aclivities in L4ngholm and the surrounding localities: declaring that no act shall be out-with the scope of these objects by reason only that persons who ar¢ not inhabilanls of Eskdale and thc surrounding areas rnay or do b¢ncfit by such a¢t" and (li) to promote similar charitable purposes. objects or institutions in such proportions and manner as the trust¢¢s think flt. ACHIEVEMENTS AND PERFORMANCE Cbariiable activities Ov¢r the last year the Trust has continued to develop the Xcel Youth Centre. After compleling the reception arca and kitchen last year work has been ongoing on the two rooms upslairs with the aim of crealing the Xcel Digilal Hub. The main activitics of the Trust are Youth Clubs. Drop In& Breakfast Club, Holiday Programmes (Ea5tcr, Summer and October) and the ASDAN projcct which is a new piece of work offering young people accredited learning. In addition to these activities the Trust also offers Xcel Outdoors sessions and Sensory Room s¢ssions. The Trust relies on funding from several Charitable Trusls and funding sources for which th¢ Trustees (and more importantly, the young people of l.angholm and Eskdale) are exlremely grateful. Without this suppo the Trusts and its activiti¢s and projects would simply not cxist. This was the last year of our funding agreements with the Nalional Lottery Young Starl and ilic Gannochy Trust and we thank them for the support over the last few years. OUT funding agreement with the Holywood Trust has another year to run and we thank them for the ongoing 5UPPOrt. There have also been contributions from UK Youth, Ewes Church Fellowship, Drove Weaving, Langholm Initiative, SHAP, D&G Council and the WWDN Project through the Stove Network as well as our own fundraising efforts for 2024125. FINANCIAL REVIEW Financial position Total Incoming Resources decreased during the year by £1,439 from £103,570 to £102,131. Expenditure decreased by £19,893 from £1 00,619 to £80,726. Total reserves at 31 sl March 2025 stood at £55,903 of which all rclates to unrestricted funds. Page I
XCEL YOUTH TRUST (SCIO) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 FINANCIAL REVIEW Reserves policy The trustees arc awar¢ that is prudent to try to maintain a reserve thdt equates to approximaiely 6 months of operating expenditure. This reserve is in place to cover for unsuccessful funding applications and in the worst case scenario closure of the Xcel Youth Trust. Total reserves on 31st March stood at £55,903. This figure is slightly inflated by an early payment of £16,285 from the Holywood Trust, w¢ had expected the paym¢nt in April 2025. The Trust has also sel money aside for th¢ following projects, the X¢el Digital Hub (£3,700), Xccl Outdoors Projcct (£3,465), the Art Room Developmenl (£2,477) and the Xcel Young Drivers Project (£ I,649). Taking all of those figures into account that leaves the unrestricted reserves at £28,327 which puls us finnly in line with our Keserves policy. FUTURE PLANS We expect the ncxt year to be another exciting one for the Trust. We will continue to improve and update the Youth Centrc with ihc crcation of the Xcel Digital Hub and the development of our Art Room. addition to the changes to the Youth Centre w'e will continue to develop our Xcel Outdoors sile, introduce our new Young Drivers Project and initiate a rebrand of our Sensory Room, The existing activities and projects will continue as nornial and we will rcmain flexible in our approach so we are ready to cater for the ¢ver changing ndS of our young people. STRUCTURE. GOVERNANCE AND MANAGEMEIYT Governing document The Xcel Youth Trust was created by a trnst deed on 2nd November 2012. It is a Scottish Charitable Inc0Trated OrganisatAon (SCIO). Retrnitment and appointment of new trustees There shall be a minimum of thre¢ trustees of the SCIO. but no maximum. Trustees can k appointed at any tirn¢. Trustees are apinted on the expertise they can bring to the board. Truslees shall be appointed for a tern] not exce¢ding four years and qhall be cligible for re-appointrn¢nt for any number of additional ternis not exce¢din8 four years, subject to the tem]s of thc constitution. OrgaDisational structure The struclure of th¢ organisation consists of the truslees, who hold regular meetings, and generally Control the activities of ihe organisation. No remuneration is paid to the trustees. The trust employs a full-time prOJt manager, a part-tim¢ activity woA(er. a part-time project assistant as well as a sessional youth workcr. The tn]st now occupies a Youth C¢ntre on Henry Stre¢t, Langholm and it runs th¢ majority of its activitics from ihat venue. REFERENCE AND ADMINISTRATNE DETAILS Registered Chgrity number SC043536 Prfneipal address Xcel Project 41 a Henry Street Langholm DG13 OAR Page 2
XCEL YOUTII TRUST {SCIO) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sr MARCH 2025 I'ru5tees Independent Exajniner JRW Hogg & Thorburn LLP ChartLTcd Accountants 19 Buccku¢h Strcct Hawick Roxburghshirc TD9 OHL Approvcd by ordcr of the board of tnL8tees on 4th Septcmh 2025 and signed on its behalf ty. Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF XCEL YOUTH TRUST (SCIO) I r¢port on th¢ accounts for the year ended 31 st March 2025 set out on pages five to thirt.een. Respeetive responsibilities of trustees 2nd examiner The charity's trustees arc rcsponsible for ihe pr¢paralion of the accounts in accordanc¢ with the tcrrns of the Charities and Trustcc Inveslm¢nt (Scotland) Act 2005 and the Charities Account5 (Scotland) Regulations 2006 (as amended). The chaTlty'S trusl¢¢s Consider that the audit requirement of Regulation l O( l )(a) to (c) of the Accounts Regulations does not apply. Il is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have con]e to my attention. Basis of the independent examiner's report My examination was carried out in accordancc with Regulation I l of the Charities Accounts (Scotland) Regulations 2006. An cxamination include5 a rcvicw of the accounling records kept by the charity and compari8on of the accounls presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustecs concerning any such matters. The procedures undertaken do not provide all the evidence thal would be required in an audi( and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's Ststement In contIOn with my examination, no matier has come to my attention . (l ) which gives me reasonable cause to b¢liev¢ that, in any ]naterial respect, the requirem¢nts to keep accounling records in accordance with Section 44( l Ka) of the 2005 Act and Regulation 4 of the 2006 Acwunts Regulations. and to prepare accounls which accord with the accounting records and io comply with Regulation 8 of the 2006 Accounts Regulations have not been met. or (2) to which, in my opinion, attention should b¢ drawn in order to enable a proper understanding of the accounts to be reached. JRW Hogg & Thorburn LLP Chartered Accountants 19 Bucclcuch Street Hawick Roxburghshire TD9 OHL 23rd September 2025 Page 4
XCEL YOUTH TRUST (SCIO) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 Total funds 2024 Total funds Unrestricied Restricted fund fund Notes INCOME AIYD ENDOWMENTS FROM Donations and Iwcies 74.463 15.000 89,463 92,297 Charitable activities Youth work 9,237 9,237 7,910 Other trading activitics 3,431 3,431 3.363 Totsl 87,131 15,000 102,131 103.570 EXPENDITURE ON Charitable activities Youth work 65.726 I 5,000 80,726 100,6l9 NF.T INCOME 21,405 21,405 2,951 RECONCILIATJON OF FUNDS Totsl funds brought fonvard 34,498 34.498 31.547 TOTAL FUNDS CARRIED FORWARD 55,903 55,903 34.498 The notes forni part of these financia] statcments Pag¢ 5
XCEL YOUTH TRUST (SCIO) BAIANCE SHEET 31ST MARCH 2025 2025 2024 Notes De£ C&sh at bank and in hand 11 l78 56.923 178 35.310 57,101 35,488 Amounts falling within one year 12 (1,198) (990) P4ET CURRENT ASSETS 55,903 34.498 55.903 34,498 ET ASSETS 55.903 34.498 14 S5,3 34,498 TOTAL FUZ4DS 55,903 34.498 The financial statryiK We approved by the Board of TTU5tc and 8uthorised for issue 4th Scptrmly 2025 and were signed on its belmlf by: Thc notes fonn part of financial statemeiits Pagc 6
XCEL YOUTH TRUST (SCIO) NOTES TO THE FINANcL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES Basls of preparlng the flnAncfial ststements The financial statements of the charity, which is a public benefjt entlty under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Staternent of Recomrnended Practice applicable to charities preparing their accounts in accordanc¢ with the Financial Reporting StandaTd applicabl¢ in the UK and Rcpublic of Ireland (FRS 102) (¢ff¢ctiv¢ l January 2019),, Financial Reporting Standard 102 Th¢ Financial Reporting Standard applicablc in th¢ UK and Republic of Ir¢ldnd' and the Charities and Trustee Invement (Scotland) Act 2005. The financial statemenls have been prepared under the historical cost convention. Ineome All income is recognised in the Statement of Financial Activities oncc the charity has entitlement to the funds, it is probabl¢ that the income will be received and the atnount can be measured reliably. Donations and legacies Donations are recognised when they are received and when any conditions attached thereto hav¢ been fulfilled. Grants receivabl¢ Jncolne from gov¢rnm¢nt and other granE whether'capital, or 'r¢v¢nu¢' grants, is recognised when the charity has entitlemenl to the funds. any performance conditions attsched to the grants have been met, it is probable that the income will be received and the amount can bc measured reliably and is not deferred. Expenditure Liabilities ar¢ r¢cogniscd as expenditure as soon &8 there is a Icgal or constructive obligation ommitting the charity to ihat expenditur¢, it is probable that a transfer of economic benefit8 wil I be required in settlernent and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all cost related to the category. Where costs cannot be directly attributed to particular hcodings they have been allooated to activities on a basis consistcnt wilh th¢ of r¢sour¢¢s. Taxatjon The charity is exempt from tsx on its charithble activities. Fund attounting Unrestricted funds can be used in accordance with the charitable objectives at the discr¢tion of thc trustKs. Restricted funds can only be used for particular restricted Purposes within the objects of the charity. Restrictions arise when specified by ihe donor or when funds are raised for particular restricted purposes. Furth¢r explanation of the nature and purpose of Cach fund is included in the notcs to the financial stat¢m¢nls. Hlre purchase and leaslng commitmenls Rentsls paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Page 7 continued...
XCEL YOUTH TRUST (SCIO) NOTES TO THE FINANCIAL STATEMENTS- CODtinu¢d FOR THE YEAR ElED 31ST MARCH 2025 ACCOUNTING POLICIFS - continued Pension costs and other post-r¢tirement benefits The charity operates a defined contribulion p¢nsion scheme. Contributions payable to the charity's pension scheAne are charged io the Stsiement of Financial Activities in the period to which they relate. Financial assets Basi¢ financial assets, including trad¢ and oth¢r debtOTS and bank balan¢¢& arc initially reCols¢d at transaction price. At the end of each repK)rting rIOd financial assets measured at cost are assessed fnr evidence of impairnient. Any impaimient loss is recognised in the Statement of Financial Activities. Financial assets are d¢recognised when the contractual ritS to the cash flows from the asset expire or are settled. Financial liabilities Baslc financial liabilities, Ancluding trade and other creditors, are initially recognis at transaction price. Trade creditors are obligations to pay for go(xls or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities if payment is due within on¢ year or less. If not they are presented as non-current liabilities. Financial liabilities are derecognised when the liability is ¢xtinguished, that is when the contractual obligation is discharged, cancelled or expires. DONATIONS AND LEGACIES 2025 2024 Donations Grants 6.566 82.897 14.154 78,143 89,463 92,297 Grants received, included in the above, are as follows: 2025 2024 DECBG Gannochy Trust The Slove Network Holywood Trust D & G Council National Lottery C¢rtas UK Youth Fund 6,078 12,000 9.028 27,700 1,587 15,750 1.000 5,000 I 1,000 2,042 48,855 1,000 15,000 5,000 82.897 78,143 Page 8 ¢ontinued...
XCEL YOUTH TRUST (SCIO) NOTES TO THE FINANCIAL STATEMEIYTS- Continued FOR THE YEAR EIYDED 31ST MARCH 2025 OTHER TRADING ACTIVITIES 2025 2024 rundraising ev¢nts Facilities hire 910 2,521 1,413 1,950 3.431 3,363 ¥COME FROM CHAIUTABLE ACTlVtTIES 2025 2024 Activity Youlh work Youth work Activities income Youth club income 6.138 3.099 5,640 2,270 9.237 7.910 CHARITABLE AcfivITIES COSTS Direct Costs {se¢ note 6) Support ¢05ts (see ote 7) Totals Youth work 78.268 2.458 80.726 DIRECT COSTS OF CHIiRITABLE ACTIVITIES 2025 2024 Staff costs Other operating l¢as¢s Light and heat Youth club costs Trainin8 Sundries Project equiprn¢nt and clothing Holiday Programine costs Pitch and venue hire Sensory room costs Building development Xcel outdoors projecl Young drivers project 49,386 4,80 1.920 2,660 1,383 2,580 526 7.562 1.058 438 4,438 1,517 47,487 4.325 3,395 2,811 2,018 1.333 10,599 1,230 11,304 10,063 3,014 417 78.268 97.996 Page 9 continued...
XCEL YOUTH TRUST (SCIO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2025 SUPPORT COSTS Governance costs Management Totals Youth work .558 900 2,458 Support costs, included in the above, are as follows: 2025 Youth work 2024 Total activities Insurnnce and licensing Telephone Payroll procesging Independent examiners fe¢ 788 410 360 900 9l6 393 414 900 2.458 2,623 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or othcr bcncfits for the year ¢nd 31 st March 2025 nor for the year ended 31 st March 2024. Trustees, expens There were no trustees, expenses paid for the year ended 3 1st March 2025 nor for the ycar ended 31st March 2024. STAFF COSTS 2025 2024 Wages and salaries Other pension Costs 48,456 930 46,619 868 49.386 47.487 The average monthly number of employees during the year was as follows,. 2025 2024 Proj¢¢t staff No employees received emoluments in excess of £60,000. Page 10 continued...
XCEL YOU171 TRUST (SCIO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2025 10. COMPAII4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unr¢strict¢d Restricted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and l¢gacies 76.547 15,750 92,297 Charitable Aetivities Youth work 7,910 7,910 Othcr trading activities 3.363 3.363 Total 87,820 15,750 103,570 EXPENDITURE ON Charitable activities Youth work 84,869 15,750 100,619 NET INCOME 2,951 2,951 RECONCILL4TtOIY OF FUNDS Total funds broughi forward 31,547 31,547 TOTAL FUNDS CARRIED FORWARD 34,498 34.498 I I. DEBTORS: AMOUNTS FALLING DIJE WITHIN ONE YEAR 2025 2024 Other debtors 178 178 Pagell continued...
XCEL YOUTH TRUST (SCIO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2025 12. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Other creditors 1,198 990 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Total funds 2024 Total funds Unrestricted Restricted fund fund Current assets Current liabilities 57,101 (1,198) 57.101 (1,198) 35,488 (990) 55,903 55,903 34,498 14. MOVEMEIYT IN FUNDS Net ovement in funds At 31.3.25 At 1.4.24 UDre8tricted fund8 General fund 34,498 21,405 55.903 TOTAL FUNDS 34,498 21,405 55,903 Net movem¢nt in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 87.131 (65.726) 21,405 Restrlcted funds National Lottery Community Fund 15,000 (15,000) TOTAL FUNDS 102.131 (80,726) 21,405 Page 12 ontinued...
XCEL YOUTH TRUST (SCIO) NOTES TO THE FINANCIAL STATEMENTS- eontlDued FOR THE YEAR EIYDED 31ST MARCH 2025 14. MOVEMENT IN FUNDS- comtinmed comparativ for movement in funds N¢t movement in funds At 31.3.24 At 1.4.23 Unrestrieted funds General fund 31,547 2,951 34,498 TOTAL FUNDS 31,547 2.951 34,498 Comparative net rnovement in funds. included in the above are as follows: Incoming Tesources Resources expended Movement in funds Unrestricted funds General fund 87,820 (84,869) 2,951 Re8tricted funds National Lottery Community Fund 15.750 (15.750) TOTAL FUNDS 103.570 (100,619) 2,951 15. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 st March 2025. Page 13