**REGISTERED CHARITY NUMBER: SC044776** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **FOR** ## **CARNOUSTIE PANMURE FC SCIO** Goldwells Ltd Goldwells House Grange Road Peterhead Aberdeenshire AB42 1WN **CARNOUSTIE PANMURE FC SCIO** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5| |**Notes to the Financial Statements**|6 to 9| |**Detailed Statement of Financial Activities**|10| **CARNOUSTIE PANMURE FC SCIO** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024** The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** Carnoustie Panmure FC SCIO is the overseeing charity for the bringing together of 4 football clubs in order to improve the facilities and experiences of all footballers within the Panmure area of Angus. In doing so the Charity looks to advance public participation in sport by providing the opportunity for adults and youth in the Carnoustie area to train and play football. The Charity provides recreational facilities in the Carnoustie area to allow adults and youth to train and play football. The Charity provides funding and opportunity for coaching courses. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** SC044776 ## **Principal address** Tign Na Mara Panbride Carnoustie Angus DD7 6JR ## **Trustees** Page 1 **CARNOUSTIE PANMURE FC SCIO** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Independent Examiner** Goldwells Ltd Goldwells House Grange Road Peterhead Aberdeenshire AB42 1WN Approved by order of the board of trustees on 10th April 2025 and signed on its behalf by: Page 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CARNOUSTIE PANMURE FC SCIO** ## **Independent examiner's report to the trustees of Carnoustie Panmure FC SCIO** I report to the charity trustees on my examination of the accounts of Carnoustie Panmure FC SCIO (the Trust) for the year ended 31st December 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Goldwells Ltd Goldwells House Grange Road Peterhead Aberdeenshire AB42 1WN 10th April 2025 Page 3 **CARNOUSTIE PANMURE FC SCIO** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024** |||2024|2023| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||171,613|134,743| |Investment income|2|1,029|580| |**Total**||172,642|135,323| |**EXPENDITURE ON**|||| |Raising funds||50,351|16,628| |**Charitable activities**|||| |Grants to teams||66,862|78,532| |**Total**||117,213|95,160| |**NET INCOME**||55,429|40,163| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||92,776|52,613| |**TOTAL FUNDS CARRIED FORWARD**||148,205|92,776| The notes form part of these financial statements Page 4 **CARNOUSTIE PANMURE FC SCIO** ## **BALANCE SHEET 31ST DECEMBER 2024** |Notes
2024
Unrestricted
fund
£
**CURRENT ASSETS**
Cash at bank
152,951
**CREDITORS**
Amounts falling due within one year
5
(4,746 )
**NET CURRENT ASSETS**
148,205
**TOTAL ASSETS LESS CURRENT LIABILITIES**
148,205
**NET ASSETS**
148,205
**FUNDS**
7
Unrestricted funds
148,205
**TOTAL FUNDS**
148,205|2023
Total
funds
£
98,639
(5,863 )
92,776
92,776
92,776
92,776
92,776| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 10th April 2025 and were signed on its behalf by: The notes form part of these financial statements Page 5 **CARNOUSTIE PANMURE FC SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2.** |**INVESTMENT INCOME**||| |---|---|---| ||2024|2023| ||£|£| |Deposit account interest|1,029|580| ## **3.** ## **TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023. continued... Page 6 **CARNOUSTIE PANMURE FC SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Grants to teams
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**5.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 6)
Other creditors
**6.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Energy Saving Trust loan|Unrestricted
fund
£
134,743
580
135,323
16,628
78,532
95,160
40,163
52,613
92,776
2024
2023
£
£
3,906
5,022
840
841
4,746
5,863
2024
£
2023
£
3,906
5,022|Unrestricted
fund
£
134,743
580
135,323
16,628
78,532
95,160
40,163
52,613
92,776
2024
2023
£
£
3,906
5,022
840
841
4,746
5,863
2024
£
2023
£
3,906
5,022|Unrestricted
fund
£
134,743
580
135,323
16,628
78,532
95,160
40,163
52,613
92,776
2024
2023
£
£
3,906
5,022
840
841
4,746
5,863
2024
£
2023
£
3,906
5,022| |---|---|---|---| ||||135,323| ||||16,628
78,532| ||||95,160| ||||40,163
52,613| ||||92,776| ||||2023
£
5,022
841
5,863
2023
£
5,022| continued... Page 7 **CARNOUSTIE PANMURE FC SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **7. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.24
£
92,776
92,776
Incoming
resources
£
172,642
172,642
At 1.1.23
£
52,613
52,613
Incoming
resources
£
135,323
135,323|Net
movement
At
in funds
£
31.12.24
£
55,429
148,205
55,429
148,205
Resources
expended
£
Movement
in funds
£
(117,213 )
55,429
(117,213 )
55,429
Net
movement
At
in funds
£
31.12.23
£
40,163
92,776
40,163
92,776
Resources
expended
£
Movement
in funds
£
(95,160 )
40,163
(95,160 )
40,163| |---|---|---| continued... Page 8 **CARNOUSTIE PANMURE FC SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024** ## **7. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1.1.23|in funds|31.12.24| ||£|£|£| |**Unrestricted funds**|||| |General fund|52,613|95,592|148,205| |**TOTAL FUNDS**|52,613|95,592|148,205| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
307,965
307,965|Resources
expended
£
Movement
in funds
£
(212,373 )
95,592
(212,373 )
95,592|Resources
expended
£
Movement
in funds
£
(212,373 )
95,592
(212,373 )
95,592| |---|---|---|---| ||||95,592| ## **8. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st December 2024. Page 9 **CARNOUSTIE PANMURE FC SCIO** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Booking fees
Fund raising and donations
Pitch and training fees
Solar FIT payments
**Investment income**
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Insurance
Light and heat
Sundries
Improvements and maintenance
Football equipment
Mens Recreational
**Other trading activities**
My Club Hub booking fees
**Charitable activities**
Grants to individuals
**Support costs**
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income**|2024
£
94,981
13,630
62,749
253
171,613
1,029
172,642
1,528
4,070
4,575
15,741
17,837
-
43,751
6,600
65,872
990
117,213
55,429|2023
£
83,127
12,391
38,975
250
134,743
580
135,323
1,553
(4,681 )
4,064
8,355
1,586
181
11,058
5,570
77,542
990
95,160
40,163| |---|---|---| This page does not form part of the statutory financial statements Page 10 I