The 4th Kirkcaldy Company of the Boys Brlgade Unaudlted financlal statements Year ended 30 September 2024 Scottish Charltable Incorporated Organlsatlon SC044601 18 North Street, Glenrothes. Fife KY7 SNA 01592 610388 8 Mitchell Street, Leven. Fife KY8 4HJ 01333 425250 www.patersonboyd.com PATERSON BOYD & CO CHARTEREO CERTIFIED 4CCOUNTANrs The 4th Klrkcaldy Company of the Boys Brigade Flnancial Ststements Year ended 30 September 2024 Contents Pa8e Charity information Trustees. report Statement of financial activities Balance sheet Accounting policles Notes to the financial statement5 9-11 Independent Examiner's Report 12 The 4th Kirkcaldy Company of the Boys Brigade Charlty information Year ended 30 September 2024 Charity number SC044601 Secretary Prlnclpal and reglstered offlce 146 Lady Nairn Avenue Kirkcaldy Fife KYI 2AU Bankers TSB Bank 114 High Street Kirkcaldy KYI INQ Investment Mana8ers Rathbone Investment Management Geor8e House 50 George Square Glasgow G2 IEH Independent Examlner Paterson Boyd & Co Chartered Certified Accountants 18 North Street Glenrothes Fife KYI SNA Trustees The number of trustees must be between 3 and 8 inclusive. The trustees seNing from l October 2023 to the date of this report were as follows: The 4th Kirkcaldy Company of the Boys Brigade Trustee5' Annual report Year ended 30 September 2024 The Trustees present their report and financial statements of the charity for thè year ended 30 September 2024. The financial statements have been prepared in accordance with the accounting policies on page5 7- 8 to the a¢tounts and comply with the charitys tonstitution, the Charity and Trustee Investment (Scotlandl Art 2005, the Charities Accounts Iscotlandl Regulation5 2tKJ6 las amendedl and the requirements of the Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS1021 (Charitie5 SORP IFRS 10211. Structurei governance and rnanagemenl On 21 January 2014. the existing operation5 of The 4th Kirkcaldy Company of the Boys, Brigade (the "Company") were transferred to a Scottish Charitable Incorporated Organisation ISCIO, number SC0446011 from its predecessor or8anisation, whlch was an unincorporated association. Both the SCIO and its predecessor organisation are and were affiliated respectlvely to the Boys, Brl8ade, Scotland. For many years, the Major Stocks Trust has been associated with the Kirkcaldy Boys. Bri8ade. In 1917, the Victoria Ha115 in Kirkcaldy were gifted to the Trust in accordonce with ihe Will of Major Stocks who was killed in The Great War. The Victoria Halls were used by the Kirkcaldy Boys Brigade until 2003, when they were sold, followin8 an application to and consent by the Court of Session. The net proceeds were Invested and income gifted to the Kirkcaldy Boys. Brigade. During 2010, Speirs & Jeffrey. stockbrokers were appointed as investrnent managers. On 22 January 2014, the Major StocksTrvst was incorporated as 3 SCIO, numbèr SC044602, and renamed as The Major Stocks Charitable Trust. On 10 April 2014, the Office of the Scottish Charity Regulator consented to a windlng up of The Major Stocks Charltable Trust and the transfer of its assets, whlch comprised investments valued at £156.014. to The 4th Kirkcaldy Company of the Boys, Brl8ade. The Malor Stocks Charltable Trust was wound up on 9 June 2014. The trustees are Set out on page l of the accounts, and meet as required but not le55 frequently than annually. The number of trustees must be between a minimum of 3 and maxirnum of 8. All trustees retlre from office at each Annual General Meetin8, but may then be reapF)ointed. The Company is managed on a day to day basis by its Officers. organi5ed as 2 platoons, the Bennochy and Pathhead platoons. and 15 Risk Management The trustees have considered the major risks to which the charity 15 exposed and have reviewed those risks and established systems and procedures to manage those risks. The 4th Kirkcaldy Company of the Boys Brlgade Trustees, Annual report Year ended 30 September 2024 Objertives and activities for the publlc benefit The organisation 15 part of Ithe Fife Battalion ofj the Boy'5 Brigade in Scotland IRegistered Charity no. SC0380161 and subKribes to its rules and guidance. The organisation is established for charitable purposes only, and in particular, the objects are: The advancement of edutation; The advancement of religion. including but not limited to the advancement of Christ's Kingdom among Boys and the promotion of habits of Obedience, Reverence, Discipline, Self-Respect, and all that tend5 towards a true Chflstian Manliness; The advancement of citizenship or community development: The advancement of the arts, heritage, culture or science; The advancement of public participation in sport,. The provision of recreational facilities, or the organisation of recreational activities, with the object of Improving the conditlons of life for young people in Kirkcaldy and the surrounding areas. The area within which the or8anisation shall operate lin this constitution referred to as the 'Area of Benefit'l shall be Kirkcaldy and the surrounding areas. people within the Area of Benefit who are aged 5 to 18 inclusive. These people will be the charity's beneficiaries. The Charlty carries out these objectives by holding weekly meetings and organising events and camps. The charity provides support for boys with limited family financial resources. Flnanclal revlew The results for the year show net expenditure for the year of £1.05012023.' £8,726) as per page S of the financial statements. At the balance sheet date the charity had total funds of £176,99712023.. £168,002) as per page 6 of the financial statements. This reduction is due primarily to the net expenditure by the charltv in the year offset by a 8ain on investments in the year of £10,045. Investment performance The charity has agreed with Rathbone Investment Management that the investment objective will be to achieve a balance between income and capital gr0￿h, with a low level of risk. Details of the linancial performance are included within the financial statements. The 4th Kirkcaldy Company of the Boys Brigade Tru5tee5' Annual report Year ended 30 September 2024 Reserves poliry The trustees have been considering the long term objectives of reseNes, including the possibility of investment in a property for use by the charily, but have not yet reached concluslons. ReseNes are more than satisfartory for the current activities of the charity. Trustees, responsibilities in relation to the tlnancial statèments The trustees are responsible for preparing the Trustee5' Report and the finantial statements in accordance wlth applicable law and United Kingdom Accounting standards. The law applicable to charltles in Scotland requires the trustees to prepare financial statements for each financial year which give a true and falr view of the stale of affairs of the charity and the incoming resources and application of resources of the chailty for that period. In preparin8 these financial statements. the tfustees a￿ required to: select Sultable accountin8 policies and then apply them consistently,. observe the methods and principles of the applicable charities SORP,. make judgements and estimates that are reasonable and prudent; state whether applicablè UK accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements, and. prepare the financlal Statements on the golng concern basls unless It Is Inapproprlate to presume that the charity will continue to operate. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuiacy at any time the financial position of the charity and enable them to ensure that the financial staternents comply with the Charities and Trustee Investment Iscotlandl Art 20)5 and the Charity Accounts1Scotlandl Regulation$ 2006 las amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitles. The trustees confirm that the financial statements comply with the above requirements. port was approved on 2 April 2025 and signed on behalf of the board of trustees by: Chair of Trustees The 4th Kirkcaldy Company of the Boys Brigade Statement of Financial Activtties (Incorporating Income and expendlture account) Year ended 30 September 2024 Unrestrlcted and totsl funds 2024 2023 Notes Income and endowments Donatlons and legacies Charitable actlvltles Investments 3,738 3,656 1,630 5,170 Total Income 7,394 6,800 Expendllure Raising funds Charitable activities 1,485 6,959 3,000 12,526 Total expendlture 15,526 Net In¢ome/lexpendlture) {1,0501 18,7261 Other re¢ognised galnslllosses): Gains/llossesl on investment assets Net movement In funds 10,045 8,995 3,641 15,0851 Reconclllatlon of funds: Total funds brought forward Total funds carrled forward I68,￿2 176,997 173,087 168,002 13 The statement of financial activities includes all gains and losses reco8nised in the year. All income and expenditure derive from continuing activities. The 4th Kirkcaldy Company of the Boys Brigade Statement of Financial Position 30 September 2024 2024 20rJ Notes Flxed assets Tangible fixed assets Investments 433 168,724 169, 157 541 158,679 159,220 io Current assets Debtors Cash at bank and in hand li 8,614 8,614 9,502 9,502 Credltors: amounts falllng due within one year 12 1774) 17201 Net current assets 8,782 Net assets 176,997 168,002 Funds Unrestricted general funds Restricted funds 13 176,997 168.002 176,997 168,002 These financial statements were approved by the board of trustees on 2 April 2025 and The 4th Kirkcaldy Company of the Boys Brigade Accounting pollcles Year ended 30 September 2024 General Informatlon The charity is a public benefit entity and a Scottish Charitable Incorporated Organisation1SCIOI. A5 Such, the charity has no share capital. The address of the registered office 1$ 146 Lady Nairn Avenue, Kirkcaldy, Fife. KYI 2AU. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard accplicable in the UK and the Republic of Ireland,, the statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211. 8asls of preparatlon The financial statements have been prepared on the historic cost basis. The financial statement5 have been prepared in sterlin& which is the functional currenry of the entity. Assets are Initially reco8nised at historical cost or transaction value unless otherwise stated in the relevant accounting pollcy notes. Fund accountlng Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at thelr discretion, have created a fund for a specific purpose. Further details of funds are disclosed in notes 13 and 14. Incomlng resources All incoming resources are Tecognised when receivable, except when donors specify that donatiorbs or grants must be used in future accounting periods, or conditions are Imposed. which have to be fulfilled before the charity is entitle to use such income. Resources expended Resources expended are included in the financial statements on an accrua15 basi5 inclusive of any irrecoverable VAT as the charity is not VAT registered. Costs of generatlng funds The costs of generating funds consist of investment management fees. The 4th Kirkcaldy Company of the Boys Brigade Accounting policies Year ended 30 September 2024 Charltable attlvitles Costs of charitable activities intlude of boy's brigade company artivities, equipment, hall costs and administrative costs. Support costs Support costs consist of governance costs, such os independent examination fees. and other overhead5 such as printlng, postage and 5totionery costs. Tanglble Ilxed assets and depreciatlon All assets Costing more than £1,￿0 are capitalised and valued at historic c05t. Depreciotion is calculated so as to write off the cost or valuation of an asset, less Its residial value, over the useful economic life of that asset as follows.. Equipment- straight line over 10 years. except IT equipment which Is straight Ilne over 3 years. Flxed asset Investments Investments are stated at market value as at the balance sheet date. The statement of financial actlvlties includes the net galns and losses arising on revaluation and disposals throughout the year. Reallsed golns and losse$ All gains and losses are recognised in the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and openlng market value Ipurchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value lor purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities. Golng contern The Trustees are of the opinion that the charity can continue to meet its obligations as they fall due. for the forseeable future due to the current level of reserves and expectations of future intome. A5 consequence the Trustees have prepared the financial statements on the going concern basi5. Financial instruments The charity only has financial instruments and liabilities of a kind that qualify as basic financial nstruments. Basic financial instruments are initially measured at transaction value and are subsequently measured at their settlement value. The 4th Kirkcaldy Company of the Boys Brigade Notes to the Financial Statements Year ended 30 September 2024 2024 2023 Donations and legacies Catherine Living5tone Trust Donations Charltsble artlvltles Weekly subscrlptlons and contributions to activities 3,738 1,630 Investment income Investment income 3,656 5,170 Expendlture on ralslng funds Investment management fees 1,485 3,000 Expendlture on charltable artlvltles 8oy5' Brigade company activities General expenses Depreciation Support costs 2,634 1.173 108 3,044 7,473 2,739 136 2,179 Support ￿St5 Printing, postage and stationery Klrk rental char8es Governance: Independent examiner's fee 39 2,270 1,4 774 3,044 740 2,179 7 Staff and related costs The charity had no employees during the period. 8 Net Income/{expendlture) Net incomellexpenditurel is stated after charging the following: Depreciation Independent examination fees 136 740 774 io The 4th Kirkcaldy Company of the Boys Brigade Notes to the Financial Statements I￿nUn￿e0} Year ended 30 September 2024 9 Tanglble flxed assets Equlpment Cost or valuatlon At l October 2023 4,515 Additlons At 30 September 2024 4.515 Deprttlatlon At l October 2023 Char8e for year At 30 September 2024 3,974 108 4,082 Net book value At 30 September 2024 At l October 2023 433 541 10 In¥e5tments Market value at l Ortober 2023 Additions Dlsposals 158,679 158.679 10.045 168,724 Net Bain/llossl on revaluation Market value at 30 September 2024 Investment5 at market value comprised.. Equity fund5 Flxed interest bonds and securities Cash held wlthin the Investment portfollo 167,799 925 168,724 Investments consist entirely of UK quoted investments. The hlstorfc cost of investments held at 30 September 2024 is £168,724. li The 4th Kirkcaldy Company of the Boy5 Brigade Notes to the Financial Statements Icontthued) Year ended 30 September 2024 202& 2023 11 Debt¢rs other debtors 12 Credltors: amounts falling due within one year Accruals and deferred income 774 720 720 774 13 Charltable funds At30 September 2024 At l October 2023 Income Expenditure General reserye Restrlcted funds 168,002 7.394 1,601 176,997 168.002 7,394 1,601 176.997 14 Analysls ol net assets FIKed assets Cash at and bank and In investment5 hand Other net current assets Total Unrestrlcted general funds 169,157 169,157 8,614 8.614 17741 17741 176,997 176.997 15 Related partles For the whole of the financial year the chartly was under the control of Tts Twstees as detailed on page l. No members of the Board received any ￿MuneratIon or relmbursement of expenses during the year. 12 The 4th Klrkcaldy Company of the Boys Brigade Independent Examinees Reportto the Tn￿ee5 of The4th Klrkcaldy Company of the Boy5, Brigade I report on the accounts of the charity fry the year ended 30 September 2024. which are Set ￿￿t on pa8es 5 to 11. Respertive responsibilities of trustees and examlner The charity's trustees are responsible for the preparation of the accounts in &cordance with the terms of the Charities and Trustee Investmont Ikotlandl Att 2005 and the Charities Accounts Istotlandl Regulations 21Y)6 las 3mendedl. The charity trustees consider that the audit ￿quI￿rnent of Re8ulat70n IOIIHal to Icl ol the 20)6 Accounts Re8ulations doès not apply. It is my responsibility to examine the account5 as required under Section 44llllcl ol the Ad and to state whether partlcular matters have come to my attentlon. 84$1$ gf 5rtdèptndènt examlnerfs 5taternent My ex3mlnatlon is carTied out in aCC￿danCe with ReKulatlon 11 of the Charities Accounts Iscotlandl Regulauons 2006. An examlnaiion includes a revlew of the a¢counting retords kept by the charity and a tornparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeks explanations from the trustees concernin8 any such matters. The procedure5 undertaken do not proMde all the evidencÈ th* would be rèqulred in an audit. and consequently l ¢h> not express an aud¢t opinion on the VIÈW given by the accourts. Independènt txamlnerfs st#ternent In the course of my examinètion, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requiremÈnts'. to keep accguntin8 records Sn accordance with Sertion 44 Illlal ol the 2005 Act and Re8ulation 4 of the 2006 Accounts Regulations to prepare accounts which accord with tht acctyJniin8 rècords ard with Re8ulation 8 of the 2006 Accounts Re8ulations have ngt been met. to which, in my opinlon, attentlon should be drawn In ordef to enable a proper understsndirb8 of the accounts to be reached. Dale: 2 April 2025 Paterson Boyd & Co a)artered Certlfled Accountants 18 North Street Glenrothes Flfe KY75NA