CHARITY REGISTRATION NUMBER: SC045658 Gilvenbank Community Sports Hub Unaudited Financial Statements 30 September 2025
Gilvenbank Community Sports Hub Financial Statements Year ended 30 September 2025 Page Trustees. annual report Independent examiner's report to the trustees Statement of flnancial activities Statement of financial position Notes to the financial statements
Gilvenbank Community Sports Hub Trustees, Annual Report Year ended 30 September 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 30 September 202S. Reference and administrative detslls Reglslered charlty name Gilvenbank Community Sports Hub Charlty reglstrallon number SC045658 Prlnclpal offlce Pitcoudie Avenue Glenrothes KY7 6SU The trustees Fraser Waterson Robert Dick Martin Edwards Karen Golden IActin8 Chalrl Elizabeth Chambers Isecretaryl Beverly Cannan IReslgned 15 June 20261 (Resigned 15 June 20261 (Appointed 15 February 2025 and Resigned 25 March 20261 IAppointed 30 June 20251 IResigned 4 September 20251 (Resigned 13 May 20251 IResi8ned 8 September 20251 Catherine FelBate (Chairl Kevin Le Roux ITreasurerl Judith Aitken (Treasurer) Nic Krzyzanowski Lynda Spence Ichairl Independent examiner Colin Mcculloch F.C.C.A. 18 North Street Glenrothes Fife KY7 SNA Structure, governance and management Gilvenbank Community Sports Hub was established as a Company Limited by Guarantee on 19 September 2014 and was registered as a charity on 29 May 2015. As of 19 August 2025 the organisation was converted into a Scottish Charitable Intorporated Organi5ation {SCIOI which 15 Eoverned by its constitution and managed by a Board of Trustee5. Most of the Board have received training from Fife Voluntary Action on the role and responsibility of charity trustee, with this training available to all new board member5.
Gilvenbank Community Sports Hub Trustees. Annual Report Icortlnuedj Year ended 30 September 2025 Objertive5 and actlvltles The organisation's purposes are.. To advance public participation in sport and recreational facilities so as to improve health and welbeing. To provide, develop, manage. and promote sport and recreational facilities available to the public generally. To provide education, coaching and trainin8 through life-lon8 leaming in relation to sport, fitness, first aid and related skills to broaden the development of individual capabillties of children. youths. young adults and adults.
Gilvenbank Community Sports Hub Trustees. Annual Report ic0j1&j Year ended 30 September 2025 Achlevements and performance It has been a challen8in8 year with regards to funding as thefe has been a significant increase in competition and againsi a back-drop of cuts and reductions to available funding streams. Management are however actively and continuously engaging with various funders and are also exploring alternative funding so as to make small steps towards self-reliance in the future. As the cost of living has increased $0 too has. the expendlture of the organisation increased. Thankfully due to the hard work and diligence of Kathy, our Admin and Finance officer, and Fraser 1trusteel.the electricity cost, which remains one of the most significant costs. has been substantially reduced through a change in supplier and the application of charity exemptions. The charlty has also been exempted from paying water charges and business rates - thanks to Suzanne, our Manager, for dealing with thi5 matter which proved to be more complex than initiallv thought. During the year Lynda Spence stepped down as Chair and Catherine Fel8ate was unanimously elected. Catherine Felgate has since also stepped down as Chair with Karen Golden assuming the role of Interim Chalr. Judith Aitken further stepped down as TreaSur during the year with Kevin Le Roux, who is Chartered Accountant. taking up the role. The Board wish to extend their gratitude to Lynda, Catherine and Judith for their efforts and time dedicated to the organisation and wish them well with their future endeavours. The board continues to develop, implement and review policies and procedures, and has during the current year implemented a financial policy. This poliry underpins and ensures monitoring and overall functionality of how money and resources are managed. The Board hereby acknowledges and celebrates the successes and achievements of the OanIsation and its staff for this past year: Youth 1st Be active Award presented to Ross Bowman for his efforts in getting more individuals active and involved in sport throu8h the delivery of the "Couch to 5k" programme, Bikeability and cycling and football coaching. Fife Voluntary Action Active Organisation Award for all the efforts of the organisation, its staff and volunteers to encourage and provide opportunities for sport and physical activity so as to improve health and wellbein8. Fife Voluntary Action Active Volunteer nomination for Ginny, shortlisted for her Contributions and efforts to improve health and wellbeing through her weekly line dance classes held at the Hub. Nomination by a Fife Council Employability Officer for the Healthy Workplace Award in the Fife Business Diversity Awards for efforts in reducing barriers to employment and creating a
Gilvenbank Community Sports Hub Trustees. Annual Report {(>tdI Year ended 30 September 2025 supportive and inclusive environment with the organisation receiving a Certificate of Achievement. The organisation. in partnership wrth another local charity ran a successful Glenrothes Rainbow Run, an inclusFve and family friendly fun run around Gilvenbank Park. The event was attended by around people with lots of other community-based organisations and charities taking part. The Rainbow Run will take place again in August 2026. The Board expresses their sincere gratitude to all the following: Fife Voluntary Action for their on8olng advice, held and support with all matters relating to governance of the organisation. Various funders, Including the National Lottery and Fife Council, for their financial support particularly with regards to funding staff costs. External groups and individuals that hire the facilities, generating much needed income for the organisation, Fife Council Community Learnln8 and Development Petals and Aum Yoga Fife Fire and Flow Transfomations Forth and Tay Disabled Ramblers Glenrothes Athletic Football Club Glenrothes Crlcket Club Members of the public for their generous donation5 and on8oing 5LlPPOrt. The 8oard thanks all the staff for thelr unwavering cornmitment and dedication to the organisation whereby they place the community at the heart of everything they do, Suzanne, our Manager, for managing the day-to-day work of the organi5ation, the staff and the volunteers. It is down to Suzanne's commitment, drive and determination that has enabled us to continually move forward and get us to where we are today, Kathy. our Admln & Finance Officer. for her endeavours and commitment to the development and implementation of a financial process which works for us and ensure5 effective maintenance of the accounts daily. Her dedication to the role surpasses all expectations. Robin, our award-winning Youth Activities Worker, for his passion and dedication to the job which far extends his remit. The effort and the difference he makes to the children and families who use the facilities does not go unnoticed. Ross, our award-winning Hub Project Worker, for his commitment, energy and enthusiasm that he bring5 to the role. Stacey, our Cleaner, who makes the Hub a fresh. clean, hygienic and overall, a welcoming place for groups and indwiduals to be.
Gilvenbank Community Sports Hub Trustees, Annual Reporti¢Mth#edl Year ended 30 September 2025 Financial revlew The charity achieved a financial deficit for the year of £36.69412024 surplus= £21 3311 of which a deficit of £3,95612024 surplus: £8,827) was for unrestricted fund5 and a deficit of £32,73812024 surplu5'. £12,5041 was for restricted funds. As a result, unrestricted funds have decreased to £12,896 and restricted funds to £243,450. Events after the end of the reporting perlod Particulars of events after the reporting date are detailed in note 18 to the financial statement5. The trustees, annual report was approved on 2910612026 and signed on behalf of the board of trustees by: len Karen Golden (Acting Chairl Trustee
Gilvenbank Community Sports Hub Independent Examlner's Reportto the Trustee5 of Gilvenbank Community Sports Hub Year ended 30 September 2025 I report to the trustees on my examination of the financial statements of GIenbank Community Sports Hub I'the charity'l for the year ended 30 September 202S. Responslblllties and ba515 of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotlandl Act 2W5 Ithe '2005 ACVI and the Charities Accounts Iscotlandl Regulatlons 2006 las amended). You are satisfied that your tharity is not required by charity law to be audited and have chosen instead to have an independent examination. report in respect of my examination of the charity's financial statements as carried out under section 44llllcl of the 21X)S Act. In carrying out my examination I have followed the requlrements of Regulation 11 of the Charitie5 Accounts Iscotlandl Regulations 2IXI6 las amendedl. Independent examlner's statement Since the charity has prepared its accounts on an accruals basis your examiner must be a member of body listed in Regulation 11121 of the Charities Accounts (Scotlandl Regulations 2006 la5 amended). I can confirm that l am qualified to undertake the examination because l am a registered member ol the A550Clation of Chartered Certified Accountant5 which is one of the listed bodles. I have completed my examination. I confirm that no matters have come to my attentlon glving me cause to believe that in any material respect: accounting records were not kept as required by sectlon 44llllal of the 2005 Act and Regulation 4 of the Charities Accounts Iscotlandl Regulations 2Q)6 la5 amended).. or the financlal statements do not accord with those records- or the financial statements do not comply wlth the accountlng requlrements of Regulation 8 of the Charities Accounts (Scotlandl Regulations 2006 las amended). I have no concerns and have come across no other matters In connectlon with the examinatlon to which attention should be drown in this report in order to enable a proper understanding of the accounts to be reached. Colin Mcculloch F.C.C.A. Independent Examiner 18 North Street Glenrothes Fife KY7 SNA
Gilvenbank Community Sports Hub Statement of Financial Activities Year ended 30 September 2025 2025 Restricted funds Total fvnds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities 6,703 15.139 6.703 52,440 2,812 98,483 37.301 Totsl Income 21,842 37,301 59,143 101.295 Expendlture Expenditure on charitable activities 25,798 70,039 95,837 79,964 Total expenditure 25,798 70,039 95.837 79,964 Net lexpenditure}/income 13.9561 132,7381 136,6941 21,331 Transfers between funds 3,656 13.6561 Net movement In funds 13001 136,3941 136,6941 21,331 Reconclllatlon of funds Total funds brought forward 13,196 279,844 293,040 271,709 Total fund5 carrled fonvard 12,896 243.450 256,346 293.040 The statement of financial activities includes all gains and losses Teco8nised in the year. All income and expenditure derive from Continuing activities. The notes on pages 9 to 19forni part ofthese fmanclal ststements.
Gilvenbank Community Sports Hub Statement of Flnancial Positlon 30 September 2025 2025 2024 Note Fixed assets Tangible fixed assets 13 206.532 215,390 Current assets Cash at bank and in hand 51,732 79,284 Credltors: amounts fallln8 duè wlthln one year Net current assets 14 1.918 1,634 49,814 77,650 Total assets less current Ilabllltles 256,346 293,040 Net assets 256,346 293,040 Funds of the charlty Restricted funds Unrestricted funds 243,450 12,896 279,844 13,196 Total charlty funds 16 256.346 293,040 These financlal statements were approved by the board of trustees and authorised for Issue on 2910612026, and are signed on behalf of the ljoard by: /a Karen Golden (Acting Chalrl Trustee The notes on pag¢$ 9 to 19 forn part of these tlnandal statemerts.
Gilvenbank Community Sports Hub Notes to the Flnancial Statements Year ended 30 September 2025 General information The charlty is a public benefit entity and a Scottish Charitable Incorporate Organisation ISCIOI. The address of the principle office is Pitcoudie Avenue, Glenrothes, KY7 6SU. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the 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 IFRS 1021 (Charities SORP IFRS 10211 and the Charities and Trustee Investment Iscotlandl Act 2CK)5 and the Charity Accounts Iscotlandl Re8ulations 2(M)6 las amended). Accountlng pollcles Basis of preparatlon The financial statements have been prepared on the hlstorical cost ba51s. as modified by the revaluation of certain financial assets and liabilitie5 and investment properties measured at falr value through income or expenditure. The flnancial statements are prepared in sterlin& whlch Is the funrtional currency of the entlty. Goln8 concern There are no material uncertainties about the charity's ability to continue. Dlsclosure exemptlons The charity satisfies the criteria of being a qualifyin8 entity as defined In SORP FRS 102 Update Bulletin l. As such, advantage has been taken of the following disclosure exemptions available under Update 8ulletin I.. No cash flow statement has been presented for the charity. Judgements and key sour5 of estlmatlon unrtaInty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, Includlng expectations of future event5 that are believed to be reasonable under the circumstances.
Gilvenbank Community Sports Hub Notes to the Financial Statements Year ended 30 September 2025 Accounting policies fcominuedl Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commltment. Restricted fund5 are subjected to restrirtions on their e¥penditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes: restricted income funds or endowment funds. Incoming resources All Incomln8 resources are included in the statement of financial activitie5 when entitlement has passed to the charity,. it is probable that the economic benefits a5CIated with the transaction will flow to the Charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: Income from donatlons or grants is recognised when there is evidence of entitlement to the 81ft, receipt is probable and its amount can be measured reliably. legary income is reco8nised when recelpt Is probable and entitlement is established. income from donated goods is measured at the falr value of the goods unless thls Is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and service5 are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of 8eneral volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted seNi¢e. This 15 classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in whlch case it may be regarded as restricted. -io-
Gilvenbank Community Sports Hub Notes to the Hnanclal StatementSicOnrfA1 Year ended 30 September 2025 Accounting policie5 lt0rtthj Resources expended Expenditure is reco8nised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events. non-charitable trading activities. and the sale of donated goods. expenditure on charitable activities include5 all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and Costs relating to the governance of the charity apportioned to charltable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly tts that adivity. Sharpd r.ost.s arp apportioned between the activities they contribute to on a reasonable, justifiable and conslstent basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible a55ets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impalrment losses. An Increase In the Carrying amount of an asset as a result of a revaluation. Is (08n1$ed In other recognised gains and10sses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carryinB amount of an asset as a result of revaluation. is recogni5ed in other recognised gains and losses, except to which it offsets any previous revaluation gain. in which case the loss Is shown within other reco8nised gains and105ses on the statement of financial actlvitles. Depreciation Oepreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Freehold property Equipment 4% reducing balance 20% straight line -li-
Gilvenbank Community Sports Hub Notes to the Flnancial Statements(conUMtsdi Year ended 30 September 2025 Accountlng pollcles icoft¥thj Impalrment of fixed assets A review for indicators of impairment is tarried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carryin8 value exceeds the recoverable amount. the asset is impaired accordlngly. Prior Impairments are also reviewed for possible reversal at each reporting date. For the purpose5 of impairment testing, when it is not P0S5ible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash.generatin8 unit to which the asset belongs. The cash-8eneratin8 unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-8eneratin8 units that are expected to benefrt from the Synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnanclal Instruments The charity only has financial assets and flnancial liabilities of a kind that qualify as baslc financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loan5 which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period In which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly wlthln 12 months of the end of the reportin8 date in which the employees render the related service, the liability is measured on a discounted present value basls. The unwinding of the discount 15 recognised a5 an expense in the period in which it arises. -12-
Gilvenbank Community Sports Hub Notes to the Financial Statements Year ended 30 September 2025 Donatlons and legacies Unrestricted Total Funds Unrestrlcted Total Funds Funds 2025 Funds 2024 Donatlons Donations 6.703 6,703 2,812 2,812 Charltable actlvitles Unrestritted Funds Restricted Total Funds Funds 2025 Fees from cricket and football Hall hire Tuckshop Workshops Flfe Council Robertson Trust National Lottery Youth Scotland Tes¢0 Groundworks Pollce Scotland Bank of Scotland Foundation Other grants Lite Lunch ILLI Kingdom Housing Associates 2,800 8,070 3,024 2,800 8,070 3,024 11.409 11,409 19,192 19,192 500 S¢)0 6,500 745 200 6,500 745 2W 15,139 37,301 52,440
Gilvenbank Community Sports Hub Notes to the Finandal Statements ic0ndn} Year ended 30 September ZOZ5 Charitable attivities {¢01thl Unre5trirted Funds Restricted Total Funds Funds 2024 Fees from cricket and football Hall hire Tuckshop Workshops Fife Council Robertson Trust National Lottery Youth Scotland Tesco Groundworks Police Scotland Bank of Scotland Foundation Other grant5 Lite Lunch ILLI Kingdom Houslng Associates 3,¢YJO 6,778 3,101 141 11,500 5CMJ 67,964 2,000 1,000 2,0 6,778 3,101 141 11.5CQ 5C(J 67,964 499 499 13.519 84,964 98,483 Expendlture on charftable artlvltles by fund type Unrestricted Fund5 Re5trirted Total Funds Funds 2025 Charitable activities Support costs 24,536 1,262 70,039 94,575 1,262 25,798 70,039 95,837 Unrestricted Funds Restricted Total Funds Funds 2024 Charitable activities Support costs 6,215 1,289 72.434 26 78,649 1,315 72,460 79,964 -14-
Gilvenbank Community Sports Hub Notes to the Flnancial statementsiconNnJ Year ended 30 September 2025 Expenditure on charltable actlvlties by artivlty type Activities undertaken direct Support Total funds costs 2025 Total fund 2024 Charitable activities Governance costs 94.575 94.575 1,262 78,649 1,315 1,262 94,575 1,262 95,837 79,964 Analysis of support costs Charitable activities Total 2025 Total 2024 Governance costs 1,262 1,262 1,315 Net {e¥pendlture)Ilncome Net lexpendilurellincome Is stated after chargingjlcreditingl: 2025 2024 Depreclation of tangible fixed assets 8.858 9,048 10. Independent examlnatlon fees 2025 2024 Fees payable to the independent examiner for: Independent examination of the financial statements Other assurance services 882 ioi 983 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wa8es and 5alarie5 Social security costs Employer contributions to pension plans 63,864 17791 1,217 43.672 1,721 1,009 64,302 46.402
Gilvenbank Community Sports Hub Note5 to the Financlal Statements Icondnuedj Year ended 30 September 2025 11. Staff costs Ircntlnt&J The average head count of employees during the year was 512024.. 41. No employee received employee benefits of more than £60,OCKI during the year12024.' Nill. 12. Trustee remuneratlon and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 13. Tanglble fixed assets Freehold property Equipment Total Cost At l Oct 2024 and 30 Sep 20Z5 281,233 8,322 289,555 Depreclatlon At l Oct 2024 Char8e for the year At 30 Sep 2025 66,096 8,605 8,069 253 74,165 8,858 74,701 8,322 83,023 Carrylng amount AI 30 Sep 2025 206.532 206,532 At 30 Sep 2024 215,137 253 215,390 14. Crèdltors: amounts fallSng due wlthin one year 2025 2024 Accruals and deferred income Social security and other taxes Other creditors 1,152 766 1,091 503 40 1.918 1,634 15. Pensions and other post retirement beneflts Defined contrlbutlon plans The amount recogni5ed in income or expenditure as an expense in relation to defined contributlon plans was £1,21712024- £1,(M)91. -16-
Gilvenbank Community Sports Hub Note5 to the Finanaal Statements IcontwMKdJ Year ended 30 September 2025 16. Analysis of charitable funds Unrestrlrted funds At lott 2024 At Transfers 30 Sep 2025 Income Expenditure General fund5 13,196 21.842 125.7981 3.656 12,896 At l Oct 2023 At Transfers 30 Sep 2024 Income Expenditure General funds 3,384 16.331 17,5041 985 13,196 -17-
Gilvenbank Community Sports Hub Notes to the Financial Statements i¢vrtthuedi Year ended 30 September 2025 16. Analysls of tharitsble funds lethlwrdJ Restricted funds At lort 2024 At Transfers 30 Sep 2025 Income Expenditure Capital reserve Small Sparks Robertson Trust National Lottery Lear Tree Fund Fife Council Tesco Groundwork Police Scotland Youth Scotland Kingdom Housing Association XMA W Munro Rehab Democracy Counts 215,137 18.6051 206,532 45,964 19,192 140,6551 24,501 17.775 210 11,409 119,8801 13,3871 12101 5,917 758 17091 1491 2Crf) 11901 iioi 5,(JJO I,0 500 SC 279.844 37,301 170,0391 13,6561 243,450 At l Oct 2023 At Transfer$ 30 Sep 2024 Income Expenditure Capital reserve Small Sparks Robertson Trust National Lottery Lear Tree Fund Fife Council Te5co Groundwork Police Scotland Youth Scotland Kingdom Housing Association XMA W Munro Rehab Democracy Counts 224,102 73 1,942 15,857 507 772 25.072 18,9651 215,137 1731 121 1271 181 14541 14171 s 67,964 12,4401 137,8301 14991 13181 118,3801 17901 11,9961 11,2421 45,964 11,5 17,775 210 141 758 268,325 84,964 172,4601 19851 279.844
Gilvenbank Community Sports Hub Notes to the Financial Statements (CÉ111*J Year ended 30 September 2025 17. Analysls of net assets between funds Unrestricted Funds Restrirted Totsl Funds Funds 2025 Tangible fixed assets Current assets Creditors less than l year Net assets 206,532 36.918 206,532 51,732 11,918 14,814 11.9181 12,896 243,450 256,346 Unrestricted Funds Restricted Total Funds Funds 2024 Taiigible fixed dssels Current assets Creditors less than l year Net assets 253 14,577 11,6341 215,137 64,707 215,390 79,284 11.6341 13,196 279,844 293,040 18. Post balance sheet events Subsequent to the year end, but prior to the approval of these financial statements, the Trustees became aware of a potential Ilabillty relatin8 to matters arisin8 durin8 the financial yearended 30 September2025. At the date of approval of these financial statements, the matter MainS under review, and the flnal outcome cannot yet be determined. Based on the information currently available, the Trustees estimate that any financial impact is not expected to be material to the charlty's flnancial position and the liability Is likely to be £5¢)0. Accordingly. no provision has been recognised in these financial statements 19-