Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 **Rothesay Pavilion Scottish Charity No. SC044932** **Annual report and Receipts and Payments Accounts For the year ended 31 March 2025** Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 ## **Rothesay Pavilion** Receipts and payments accounts for the year ended 31 March 2025 |**CONTENTS**|**PAGE**| |---|---| |Legal and Administrative Information|1| |Trustees Report|2 to 3| |Independent Examiner's Statement|4| |Receipt and Payments Account|5| |Statement of Balances|6| |Notes to the Accounts|7 to 9| [kKu￿n Env8ky ID. D1953557-9B2C41LKk8BA1ffjF3C20851E44 Rothesay Pavilion Receipts and payments accounts for the year ended 31 March 2025 LEGAL AND ADMINISTRATIVE INFORMATION Trustees Chief Exeixrtive Principal address and registered office of the charity The Bank of Ideas 17 High Street Rothesay Isle of Bute PA20 gAS Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA Independent Examiner Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 ## **Rothesay Pavilion** Receipts and payments accounts for the year ended 31 March 2025 ## **TRUSTEES’ REPORT** The Trustees are pleased to present their report together with the receipts and payments accounts of the charity for the year ended 31 March 2025. The legal and administrative information on page one forms part of this report. Rothesay Pavilion registered as a charity on 16 June 2014 and started charitable activities on 3 October 2014. With the development of Rothesay Pavilion the charity will provide recreational activities and services that aim to enhance the quality of life, advance citizenship, promote prosperity and encourage development in arts, heritage, culture, or science for the benefit of Bute’s communities and others wishing to enjoy the culture and heritage of the island. ## **Trustees** The Trustees who served during the year and since the period-end, unless otherwise stated, were as follows: ## **Structure, Governance and Management** ## _**Governing document**_ The Charity is a Scottish Charitable Incorporated Organisation (a SCIO). It was registered on 16 June 2014. It has a single tier structure and as such the trustees are the members of the charity. ## _**Recruitment and appointment of Trustees**_ The Directors (Trustees) normally meet every 12 weeks. All trustees were recruited by an open appointment process. There must be a minimum of four trustees and a maximum of sixteen members. All trustees must be members of the SCIO and must apply for membership by completing an application process, which must be approved by directors. All office-bearers, with the exception of the Chairperson, must stand down at the end of every financial year and are therefore elected by the members on an annual basis. ## _**Risk management**_ The Trustees have assessed the major risks to which the Trust is exposed, in particular those relating to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to major risks. A risk register is maintained and reviewed throughout the year with sign off annually at the AGM. ## _**Organisational structure**_ The affairs of the charity are managed by the Trustees with the day-to-day management delegated to key management as outlined below. 2 Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 ## **Rothesay Pavilion** Receipts and payments accounts for the year ended 31 March 2025 ## **TRUSTEES’ REPORT (continued)** ## _**Key management remuneration**_ The key management of the charity is the Executive Director, . Total salary costs in the period, including pension payments, amounted to £39,751 (2024: £30,821). ## _**Financial review**_ The Charity’s income for the period amounted to £91,232 (2024: £1,995) which included agreed funding from Argyll and Bute Council of £89,099, to support charitable activities during the Rothesay Pavilion capital redevelopment project, interest income and some small donations. Expenditure in the year was £69,166 (2024: £69,582), creating a surplus for the year of £22,066 (2024: deficit of £67,587). A large proportion of expenditure related to marketing, fundraising and business development. There was a significant focus on campaigning to bridge the funding gap experienced in the Rothesay Pavilion capital redevelopment project and the Charity has played an extensive role alongside Argyll and Bute Council and other stakeholders to contribute to the successful achievement of this. ## _**Principal funding sources**_ The charity’s main funders were Argyll & Bute Council, Heritage Lottery Fund and Highlands and Islands Enterprise. The charity has also received grants from Gannochy Trust and West Coast Foundation which are restricted for specific future projects. ## _**Reserves**_ The charity holds total reserves of £116,852 (2024: £94,786) as at 31 March 2025. Of the total reserves, £110,967 (2024: £90,926) are restricted. The charity’s main project fund with Argyll and Bute Council had a deficit of £25,990 (2024: £46,031) as at 31 March 2025. This is due to continued delays in the Rothesay Pavilion capital redevelopment project restricting the charity’s ability to generate income. The remaining restricted fund balance of £136,957 (2024: £136,957) are funds restricted for use against specific activities. This leaves unrestricted general reserves of £5,885 (2024: £3,860). The charity always aspires to meet the OSCR recommended reserves level of three months operating expenditure which amounts to £17,292 (2024: £17,396). The charity has sufficient cash reserves to meet financial obligations should no further funding be received in the forthcoming financial year to 31 March 2026. Approved by the Trustees and signed on their behalf: 3 [kKu￿n Env8ky ID. D1953557-9B2C41LKk8BA1ffjF3C20851E44 Rothesay Pavilion Receipts and payments accounts for the year ended 31 March 2025 INDEPENDENT EXAMINER'S REPORT TO THETRUSTEES OF ROTHESAY PAVILION I report on the accounts of the Charity for the year ended 31 March 2025. which are set out on pages 5 to 9. Respective Responsibilities of Trustees and Examiner The Charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland} Act 2005 and the CharitEs Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) l of the Act and to state whether particular matters have come to my attention Basis of Independent Examiner's Report My examination was carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanats'ons from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently I do not express an audit opinion on the view given by the accounts. Independent Examinerfs Statement In connection wth my examination. no matter has come to my attention.. . which gives me reasonable cause to believe that in any material respect therequirements: . to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations. and . to prepare accounts which accord with the accounting records and comply wtth Regulation 9 of the 2006 Accounts Regulations: have not been met, or: 2. to which, in my opinion, attention should be drawn in order to enable a propel understanding of the accounts to be reached. Date:.......................... Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 ## **Rothesay Pavilion** Receipts and payments accounts for the year ended 31 March 2025 ## **RECEIPTS AND PAYMENTS ACCOUNT** ||**_Notes_**|**Unrestricted**|**Restricted**|**2025**|2024| |---|---|---|---|---|---| |||**Funds**|**Funds**|**Total**|Total| |||**£**|**£**|**£**|£| |**_RECEIPTS:_**|||||| |Donations|_2_|48|-|**48**|117| |Grants|_2_|-|89,099|**89,099**|-| |Interest|2|2,085|-|**2,085**|1,878| |**TOTAL RECEIPTS**||**2,133**|**89,099**|**91,232**|1,995| |Charitable expenses|_3_|108|54,866|**54,974**|36,939| |Fundraising expenses|_4_|-|13,472|**13,472**|30,879| |Governance expenses|_5_|-|720|**720**|1,764| |**TOTAL PAYMENTS**||**108**|**69,058**|**69,166**|69,582| |**Net Receipts / Payments**||**2,025**|**20,041**|**22,066**|(67,587)| |**Transfer of funds**||-|-|**-**|-| |**Surplus/(deficit) for year**|_8,9_|**2,025**|**20,041**|**22,066**|(67,587)| 5 Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 ## **Rothesay Pavilion** Receipts and payments accounts for the year ended 31 March 2025 ## **STATEMENT OF BALANCES** ||**_Notes_**|**Unrestricted**|**Restricted**|**2025**|**2024**| |---|---|---|---|---|---| |||**Funds**|**Funds**|**Total**|**Total**| |||**£**|**£**|**£**|**£**| |**Bank and cash in hand**|||||| |**Opening balances**||3,860|90,926|**94,786**|162,373| |**Surplus/(deficit) for the period**||2,025|20,041|**22,066**|(67,587)| |**Closing balances**||**5,885**|**110,967**|**116,852**|94,786| |**Bank and cash balances**|||||| |**Current account**||5,885|26,535|**32,420**|12,337| |**Savings account**||-|84,432|**84,432**|82,459| |||**5,885**|**110,967**|**116,852**|94,786| |**Liabilities**|_6_|||**2,280**|1,680| |||12/2/2025|||| Approved and authorised for issue by the Trustees on .............................. and signed on its behalf by: 6 Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 ## **Rothesay Pavilion** Receipts and payments accounts for the year ended 31 March 2025 ## **NOTES TO THE ACCOUNTS** ## **1 Accounting policies** ## **Basis of accounting** These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). ## **Nature and purpose of funds** Unrestricted funds are those that may be used at the discretion of the trustees in the furtherance of the objects of the charity. Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes. ## **Reserves** The charity always aspires to meet the OSCR recommended reserves level of at least three months turnover. ## **2 Receipts** ||Unrestricted|Restricted|**2025**|2024| |---|---|---|---|---| ||Funds|Funds|**Total**|Total| ||£|£|**£**|£| |Donations|48|-|**48**|117| |Interest|2,085|-|**2,085**|1,878| |Grant income – Argyll & Bute Council|-|89,099|**89,099**|-| |**Total receipts**|**2,133**|**89,099**|**91,232**|1,995| ## **3 Charitable activities expenses** ||Unrestricted|Restricted|**2025**|2024| |---|---|---|---|---| ||Funds|Funds|**Total**|Total| ||£|£|**£**|£| |Wages and salaries|-|39,751|**39,751**|30,821| |Premises costs|-|8,377|**8,377**|4,200| |Office Costs|-|3,751|**3,751**|1,148| |Insurance|-|1,848|**1,848**|-| |Staff costs including travel and meetings|-|-|**-**|100| |Board expenses|-|89|**89**|157| |Subscriptions|-|638|**638**|96| |Sundry|108|412|**520**|417| |**Total charitable activities expenditure**|**108**|**54,866**|**54,974**|36,939| 7 Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 ## **Rothesay Pavilion** Receipts and payments accounts for the year ended 31 March 2025 ## **NOTES TO THE ACCOUNTS (continued)** ## **4 Fundraising expenses** |||Unrestricted|Restricted|**2025**|2024| |---|---|---|---|---|---| |||Funds|Funds|**Total**|Total| |||£|£|**£**|£| |Marketing, fundraising and business development||-|13,472|**13,472**|30,879| |**Total**|**fundraising expenditure**|**-**|**13,472**|**13,472**|30,879| |**5**|**Governance expenses**||||| |||Unrestricted|Restricted|**2025**|2024| |||Funds|Funds|**Total**|Total| |||£|£|**£**|£| |Independent Examination Fee||-|720|**720**|720| |Accountancy||-|-|**-**|1,044| |**Total**|**governance expenditure**|**-**|**720**|**720**|1,764| - **6 Liabilities** ||**2025**|2024| |---|---|---| ||**£**|£| |Accrual – Independent Examiner’s remuneration|**780**|780| |Accrual - Insurance|**1,500**|900| ||**2,280**|1,680| ## **7 Related party transactions** No Trustees received any remuneration during the year. Reimbursements of expenses were made to the following trustees in the year ended 31 March 2025: - – £13 (2024: Nil) - (2024: £157) No Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year. 8 Docusign Envelope ID: D1953557-9B2C-4100-8BA1-6F3C20851E44 ## **Rothesay Pavilion** Receipts and payments accounts for the year ended 31 March 2025 ## **NOTES TO THE ACCOUNTS (continued)** ## **8 Restricted funds** ||**As at**|||**As at**| |---|---|---|---|---| ||**1 April**|||**31 March**| ||**2024**|Income|Expenditure|**2025**| ||**£**|£|£|**£**| |Main project fund - Argyll & Bute Council|**(46,031)**|89,099|(69,058)|**(25,990)**| |Gannochy Trust|**20,000**|-|-|**20,000**| |West Coast Foundation|**116,957**|-|-|**116,957**| ||**90,926**|**89,099**|**(69,058)**|**110,967**| Purpose of funds: - Main project fund - Argyll & Bute Council - Funding towards capital redevelopment and related activities which includes Heritage Lottery Funding for the Heritage Activity programme. - Gannochy Trust – Funding towards creation of a post linked to youth arts. - West Coast Foundation – A capital contribution to funding specifically for a dedicated youth space at the Pavilion. ## **9 Unrestricted funds** |||**As at**|||**As at**| |---|---|---|---|---|---| ||**1**|**April**|||**31 March**| |||**2024**|Income|Expenditure|**2025**| |||**£**|£|£|**£**| |Unrestricted funds (General reserves)||**3,860**|2,133|(108)|**5,885**| |||**3,860**|**2,133**|**(108)**|**5,885**| ## **10 Controlling party** The Charity is controlled by its Trustees, who are also the members. 9