REGISTLRKD CHARITY Tr4UMBER: SC045727 REpoiYf OFTHE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEvfEMBER 2024 FOR FIUENDS OFTARLAKR COMMUNITY GROUP Ritsons Chartered A¢cvuntant & Statutory Auditor 26-30 Marine Place BuGkie Moray AB56 1 UT
FRIENDS OFTARLAIR COMMUNITY GROUP CONTENTS OFTHE FINANCIAL sTATEIE1Ts FOR THE YEAR ENDED 30 SEP'I'EIMBER 2024 Page Referenee aNdAdmlnl$tr4¢1ve Detsits Report of the Trustees Statement of Trustees, Responsibilities Report ofthe lthdtpendeDtAuditors 7 to 10 Statement of Financial A¢tivltles B#l¥nte Sheet Ca$h Flow StAtement Notes to the Cash Flow Ststtmellt 14 Note5 to th¢ FinaneiAI Ststements 15 to 22 Detailed Statement of Fioancl21 Activities 23 to 24
FIUCINDS OFT.4RLAJR CO.NIMU.NITY GROUP REFERENC.E AND ADNllf*lSTRATII'E DETAII.S riOR TI1£ YEAR EIThDED 30 SEPTEMBER 2024 TRUSTEES PRINCIPALADDRESS RF,GJSTFRI,;D CII.4RITY NLMBER SC045727 AUDrroRS Ritsons Chartcrcd Accountant & Statutory Auditor 26-30 IKlarinePlace Elu¢kie AB56 iur Page I
FIUEM)S OF TARLAIR COMMbNITY GROIJP REPORT OFTHE TRU.S'I'EES FOR THE YLAR EiSDED 30 SEVIF,lBKR 2024 The trustees preseni iheir report with the financial statcments ofthe ¢harity for the ycar ended 30 September 2024. The truste¢s have adoptcd the provi%ions of Accounting and Reporting by Charitie5: Ststement of Recommended Practice applicable to charitie5 preparing their accounts in accordan¢e with the Financial Eieporting Standard applicable in the UK and Republic of Ireland (FRS 1021 leffedive l January 2019). OBJECTIVES AND ACTIVITIES Objectiv¢$ 2lJJJ$ The group has bcen formed to rescue from ruin, restore Ènd renovate the Tarlair Outdoor Pool complex. and ¢0 put in place a viable plan foT its future use going forward. The group promotes the interesls of 'larlair, to include all busin¢5s, Gultural: social and community activities and organises recreational. social and fundraising activities for the enjoyment and benefit of ¢ommunities of Macduff and the supporting areas. Po8e 2
FRIETWS OFTARI,AIR C.OIINIIINITY GROUP REPORTOFTHETRUSTEES riOR TIIE YL..aR LINDF.D 30 SEPTEMBER 2024 ACHJEVEMETrrrAND PERFORMAP4CII Ch2rit8ble acth?tie5 Miksion.. Our rni%sion ha5 been to take Phase 2 of the 3 Pha$L Tarlair project through io i&)tii ililion Ni'ith Studio Oclopi OUT C.on5fTVUtivn Arihitccls und theiT TeuIii. Nlei'kly Reports hLve been prepllrd h. UT Project Co-ordinator. Notes from weekly vistis created by ere shared to Aberdcen5hire CoiiiiLil dllLI i)iii %elves along witli il Tnonthly finAn¢ial Report. All moi¢rials and oKpenditures were overseen by'lalknts of Abeixleen prior w release of finan¢¢5. To relain th¢ T¢&m {S¢udio Oclopil and benefjt from their collected data. The hope to move swiftly on to PhiiS¢ 3 ond project Completion. Fllnding.. The exi9ting team have waved some expenses to that they could progre%s wtth Phase 3 Fe2sibilTty study. Iihe study for (he switiitning i?Trol} Friends af Tarlair sccurcd the Funding for tlii% study froin AHF,'l urran Connel and th¢ir own funds. The feasibility study i5 now complclLJ and we haile appli¢d to othcrs for funding to lakc thc projLcI to planiiing siage RIBA 3. This M'ould allow us to appl tor Assct'l I')5fel. witli the L)ppropriate Busincss Plan. We have r¢¢eived a letter ()r.%upp()ri r(Ir A%%eL Tran8fer frnm Area Maiiager. This would allow us to seek capital fut)ding for the r¢novalion. We h&ve raised or secured lunding in & variety of ivay5 during th¢ year. The Just'lransition fund Awarded us funding to plant a n2ture corridor 21ong the enirunLe road. Aberdeenshire Council funded the equiprneni for displa} ing ihe area'5 heritage. 'I'he Co-op Communiry Fund provided the financcs for a free workshop plus the r¢4UjTed equipment. Age ¥iin¥¢rn funded tw() benLhe¥, and FriL'nds of T4Lrl&ir held a coffet mornin8 and Xnias l.ueky Square5, Wlth one ofour Trust¢cs mdking sr¢at sales iviih 8reat toffee. FO r alsti sold mugs and other merchandise wilh th¢ Ma¢dulf Primary Srhoi)I d¢sign on thcm They havc bc¢n dclivcred to people ovu BritiLin. America and Cut]ada. The Pai'ilion and Workshop ProjeLI.' The work is due to be Coinpled on the 15 Novetnber 2024. The ConiFacior wds W.G. Willox and his woiteTS. The work 15 bcing complclcd to a high-quality fini.sh, but a5 not without i.%%ues.'Th¢ drainage from the Goll Cours¢ hos ittcreaged to a hug¢ degree, the Septic tank spec a5 incieas¢d, and there was a lot of dispuie oveT the Toof ieriace Tailings. New funding had to be sought dnd lUTe tsf a further £1,400 ts) ke¢p ¢h¢ project Lraek. I'he archite¢t's t¢am. Willox ¢onrra¢ror and team plus project cooi'dtnator have worked togethcr to ercaie a wondcrful outcome. We celcbraied with a tl)ank y(Jts 8Èihering at the Pavilion for thc)se who helped along tht way. It was a lovely afternoon with Hanff Castle playing for us as a favour. VolunlLUS'. Volunteers from the VLnery have hclpoj with a lot of the planting throughout Spring and Summer. We are lucky enough to have people Clcan up liiier. help with sile mainl¢nan¢e and help al fundraisers and Coffee mornings. Il'c beneflted from extraordinary help fr()m Maedun. 8hipyards who provided a pump to as%e%s the cleanline88 of Ihe iN)oting pool and deal iwith thc run off from thc Golf Course. Age Cot)cem allowed iheir premises to be used to pick up merLhandise sold locally, and the Binff Deli and Stewart the butchers provide vouchers for our Xmas Hamper. We benefil from on80in8 firkai)Lidl contributions. Pool Users for Ph8se 3: 11 is important 10 treate a viable Business Plan lo take us to swimmiiig pool r¢novation and proje¢t Completion. Support has coine froin Kayak training groups scuba divers. wild wattr siiiininer8. and more recently from Bu%inL'S%LS Ic8tin sonar equipmetit ROV equipment and other undejivaler devicc5 and diverb from drillins companies looking lor more realistic truining ground. Ltltcrest in sitc usc has come from at least 2 film making coinpanics. Phase 3.. Oncc FOT Asset IraTrsfer the Swimming Pool it beGomcs ours to maintain. bor that reason. we hope to employ one etnber of staff in the café to do the orderiii8 and cookin8) but faT prep. lakinB ord¢r5 and s¢rvir)8 to b¢ ¢onducted by volunteers sci that any proftl can sllPPOrt mainienance Losts. As the c4fé be¢om¢s more popular we hope to increase the number employed. Proje¢t ¢ompl¢tion.' Pa8t 3
FRIENDS OF TARLAIR COMMUNfTY GROUP RF.vo OF THE TRUSTEES FOR THE I'EAR ENDED 30 S8vrE1BER 2024 To have ihis fantastic structure complete will mean it can bc advcrtiscd propcrly. and wc can org¥nise Sitc cvents in a coffiplel¢ and attractive arena. FlhANCIAL REWIEW Reserves policy l.riends ol-'I'arlair Community Group operates two rypes of Reserve. A General Reserve with a balance at the end of the ycar 01£30,50412023 £27,116) is llsed to tund day to day operations, and a Restricted Reserve with ll balance at the year end of £1.786.375 12023 - £499,971)) whi¢h has beeD received for 8 spe¥ifi¢ purpose or proji. We aim 10 relain r¢s¢rv<8 at a level iutyicitht to cover 3 m(Jnths' co%t8 foi" mainttnan¢e et¢. ,'TITrF, PI,AN8 2025 onward%- Plans forTarluir Swimming Pl1 PhC 3 of 3 Phase fDT Tarl&ir- full con5crbation renovation of theArt Dcco slnicliirj 'lar18ir conservation repairs were set out in a 3 Phase plan as crcated by Desi8n in 2013. t"Addi50n Conservation and Phase l iEpaiiEd the ceiitTal aTca between the bosting t1 ond swim18 01, the boating ] itself and the surrounding ierrae¢q. Ctsmi)Ided in Deceml)er 2014. Phase 2- The Pavilion community café and wortsliop saw a fvll renobatioi) to a high coiiseryatloo 5tsndard. Completed in Ni tsv¢inb¢r l5th. 2024. Pha5c 3-12025 onward5) Will complde all ¢on5crvatlOll T¢pait5 of thL5 Uniqu¢ triple pool drsign Lido, atld will bring a dal fcd outdoor pY)ol ba¢k into community use. The letters of sUPPOrt for this facility have come from both prote55ional bodies, and marly open wateT swimming club8 and enthusiasts. Outdoor edu¢ators in water related advcnturc actii'itic8 111 bc sought to join us as w¢ move forw'ard. Our Business Plan lakes into 2Lcount this support and Ihe long-ierm plan will be supported financially by the ealé profits where most Staff work as volunteers. Our Fjusiness Plan 15 completed and the 3-year Projected fInancial statemenls are bein8 done. The arc.ILtects, Studio Octopi and T¢ani are near to Goinpl¢ting tlie pl}S which are funded by Crawn F.statL. omplltivn wc will put rvcrything togclhcr to prc5cnt ¢0 Abcrdecn5hire Council to try to gain Asset Transfcr fur *L 99 year LtAst. We have this for thePavilion. Having.45set Transfer will put it5 in a position to 2pply for Capital funding io lake ihe final phase o:-the project to its conclusion brin8in8 gn archileciural 8em back into coollnunity vse and be¢ome a jew'el in the ¢rown of the N.E. tourist industry. 8TRicrtTRE, GoVEANcE AM) MANAGEMENT Governing dotument The Lharily is controlled by its 8ovcrnin8 document. a de¢d of trust and constituies a Scoitish Charilable Incorporatcd Awcialion ISCIOI. Rccruitment ad appointment of llew trustees Any pcrson. nomiD&ied individual or body wholwhi¢h M'islies to become a Charity Tru5te¢ must sign a written applicaiion for Charity Trusreeship, irf)ich will then considered by the 13oard at its next board mcctiThg. lth¢ Board will nottfy eath applicant PTomptly in writing of its decision. Page 4
FRIE[S OF TARLAIR COMMuNrfY GROUP REPORT OF TIIE TRUSTkES FOR THE YEAR EYDED 30 SEPTEMBER 2024 ApproYeAI by order of the bourd of trustees 011 ........ . - and signed on its belmlf by". Pag¢ S
FRIENDS OFTARLAJR COMMUNITYGROUP STATEMENT OFTRUSTEES, RESPONSIBILITIES FOR I'HE YEAR ENDED 30 SEP'I'kMBER 2024 The trust¢es are rcsponsible for preporing the Report of the'frustees and thc financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Ac¢out)tin8 PractlGe). The law applicable to charities in Scotland, the Charities and Trustee Investmenl {Scotlandl Act 2005, Charilies Accounts IS¢otland} Re8ulations 2006 amended} and the provisions of the charity's constitution, requires the trusiees ¢0 prepare financial staternents for ¢a¢h financial year which give a irue and fair view of thc State of affairs of the ch2rity and of the incorning Te50ur¢¢s and application of resour¢cs, in¢luding the income and expetlditure. of the ¢harity for that period. In preparing those financial statements. the trustees are required to sel¢¢t sllitable accounting poliGies and then apply them con51Stently,' obscrve the R]ethods and principlc5 in the ChaTity SORP. make judgetnents and estimates that are reasonable and prudent; State whether applicable accounting standards have been followcd, subject to any maierial departures disc105ed and explained in the finan¢ial statements; prepare Ihe flnancial statements on the going concern basi5 unlcss it Is inappropriate to presume that the charity will continue in buqiness. The tru5te¢5 are responsible for keeping proper accounting Tecords which disclose with reasonable accuracy at any time the finAncial position of thc charily and to eiiable them to cnsure that the financial statements comply with the Charities and Trustee Invc5tmeni (Scotlandl Act 2005, the Charities Accounis {Scotland} Regulations 2006 las amcttdcd) and the provisions (¥f the charity's constitution. They are also responsiblc for 5afegu#rding the assels of thc charity and henGe for taking reèsonable steps for the PTevention and detection of fraud and other inegularitics. Page 6
REPORT OFTHE INDEPENDENT AIIDITORS TO THE TRUSTEES OF FRIENDS OF TARLAIR COIMMI,'NLTY CROUP Opillion We have audited the financial siatements of Friends of Tarla2r Community Group {th¢'¢harily') IOT the year ended 30 Sepiember 2024 which comprise the Statement of Financial ActSVitiC5, the Balance Sheet, the Cash Flow Statemenl and notc5 to the fin3n¢ial statements, including a summary of significant accountiiig policies. l-he financial reporting framework that has been applied in their PT¢paration 15 4ppli¢able law and United Kingdom Accountin8 Standards (United Kingdom Generally Ac¢epied A¢collnttng Praclicel. In our opinion the financial statements.. 8ive a true and fair view of the state of the charity's affairs as at 30 September 2024 and of i¢s incoming resources and application of resi)urce8, for the year ihen ended.. have been properly prepartd in accordance with United Kingdorn Generally Accepted Accounting Praeiice. and have been prcpared in accordance with the requirernent5 of the Charities and Trustee Investment (Scotlandj Act 2005 and Regulation 8 of the Charitics Aceounts IS¢•tlandl Regul8tlOD$ 2006. Basis for opinÈon We conducled our audit in accordance with International Standard5 on Auditing (UK) IISAS (UK)) and applicable law. Our rcsponsibilities undcr those Standards are furiher described in the Auditors, rcspon$ibililies for the audit of the financial 5laleinents section of our report. We are independent of the ¢harily in a¢cordan¢e wilh the ethical requirements that are releTrant to our audit Of the financial statements in the UK: including the FRC'S Ethical siandard, and we have fulfilled our other eihi¢al respon%ibilities in accordance with thcsc requirements. We believe that the audit evidence we have obtained is sufficient and appropriatc to providc a basi5 for our opinion. Conclusions TelAting to going coneern In auditing the fiHan¢ial statcrncnts, w¢ have nCluded that th¢ iruste¢s' use of the 8Otng concem basi$ of accountin8 in the PFeparation of th¢ finanLi#l statements is appropriate. Based on the work we have performed, we h8v¢ not identified any material llncertaintics relating to events or conditions that, individually or collectively, may cast Si8nificant doubt on the charity'5 ability to continue a5 a going concem for a period of at Ita5t twelve rnonths fTOrn when th¢ finan¢ial sidt¢ments are authorised for i8SU¢. Our responsibilities and the rc5poll5Lbiliti¢s of the trostees wilh respe¢t going ¢on¢ern are described in the relevant se¢tions of this report. Other iuform4tion The trustees are responsible for the other inform8tion. The other inforrnation comprises the inforrnation included in the Annual Report. other than the fInaRcial statements artd our Report of the IndependentAuditors thereon. Our opinion on the finanGial stat¢ment5 d0¢5 not cover the other infoTmation and: ¢xr¢pt to the extent otherwise explicitly stated in our report, we do not express at)y form Of a%surance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, cortsider whether the other information 1% materially inconsistent with the firtancial statements or our knowledge obtained in the audit or otherwise appear5 to be materially Misstated. If we identify such material inconsistencies or apparent material misslalements. we are required to deterinine whether this givcs rise to a materi21 missiatemenl in the rinancial statern¢ntS th¢m5elv¢5. If, based on the work we hape perfoTm¢d, we conclude that there is a material mis8tatement of this other information, we are rquired to rewrt that faci. We have nothing to report in this regard. Matters whitb we are required to report by exteptlon We have noihing to report in respect ofthe following mattcrs wherc thc Charitics Accounts {Scotland) Re8ulations 2006 requires us to report to you if, in out opinion.. the information givcn in the Rcport of the Trustecs is ineonsisient in any material re8pe¢l with the finan¢ial statements,. or PToper accountiDg re¢ords have not b¢en kept,. or th¢ finan¢i#l statements are not in agreeinent with the accounting records and rctUrns- or we have not received all the information and explanations we require for our audiL Page 7
REPORT OF THE INDEPENDEiYT AUDITORS TO THE'fRUSTEES OF FRIENDS OF TARLAIR COMML'NITY GROLP Re5POnsibilitie5 of trust¢¢$ As ¢NplÈined more fully in thc Statem¢nt of-l-Tuslee5' Re$ponsibilitics, the trustec5 are Tcsponsible for the preparation of the flnancial statements which give a true and fair view, and for such internal control as the tru5tecs detei'tnine is ne¢essary to enable the preparation of financial stAtem¢nts that are free from material mis*tement, whether due to fraud or error. In pieparing the fjnancial statejnents. the truste¢s ar¢ rcspi)nsible for a8scssing the charlty's ability io continue as a going concern, disc105ing. a5 applicable, mailers relatcd to going conc¢m and using the going concern basis of accounting unless the tru5tee5 either intend to liquidatc the charity or to cease operalions, or have no realistic altemaLive bul Lo do 50. Page 8
REPORT OFTHE INDEPENDENT AUDITORS TO TIJE TRusfEES OF FRIENDS OFTARLAIR COMMUNITY GROUP Our respoN5ibilitie5 for the #udit of the fiDanciY4l staterneDts We hae been appointcd as auditor5 under Settion 44{11{cl of the Charities and Truste¢ Investment (Scotlandl Act 2005 and report in accordanr¢ with ihe Act and relevant re8ulation5 msde or having effect thereund¢r. Our objectives are to obtain rcasonable 88surance about whether the financial statements as a whole are free fro TnateriaS rni55tatem¢Dt, wheiher due to fraud or error. and to 154ue a Report of the Independent Auditors that includcs our opinion. Rcasonable a%suran¢e is a high level of assurancc, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material mi8$1altment whcn it exists. MiE%tstements can arise from fraud or error and are considered mat¢rial if, tndividually or in the aggregate, they could re28onAbly be expecied to influence the economi¢ decisions of users taken on the basis of the5¢ finan¢ial stdiements. The extent to which our procedurc5 are capable of detecting irr¢gulariti&s, including fraud is delailed below.. As part of the audit planning procedures. the engagemeni partner and engagcmcnt t¢atn obtained an und¢r%tanding of and discussed the legal and regulatory frameworks that arc applicable to the entity-. focusing on those that had a dircct effcct on the financial statements or that had è fundamental cftcct on the operati0rt5 the entily. The kcy laws and regulations we considercd in thi5 Cotitext included the Charitics and Truslees Invc5trncnts {S¢oiland) Act 2005, the Charity Accounts {Scotlandl Regulation5 2006 and FRS 102 (Charitics SORP IFRS102)l. Other specific lam's and regulations which would have a material effect on the charity are ¢p10yCnt laws, lax laws, GDPR and AML r¢gulation$. The engagemenl team di5Lussed non-COtnpliaD¢e wilh laws & regulations at the audit t¢atn planning meetin8. The engagernent teatn tnade enquiries of mana8emcnt regarding their a%scs4rnent of the likelihood of fraud or error or non- compliance with laws & rcgulations which could lead to a materi&l misstatement in the account5 and whether they were aware ofany instances of fraud or non-¢ompliance. The ¢ngagemellt partner was satisfied that the ¢nga8cment tearn had the appropriate competenc¢ and capabilitle5 to idcntify or recognise non-¢tsmpliattce with law5 & re8ulaÈion5 during the audit. The engagement team T¢Ni¢wed retords to Identify any Icgal aDd Tegul2tOry CL)rrLspondence, including any correspondence with OSCR. alongside enquiries of mana8eJnei)t as part of the audit fieldwork. The te>Jm did nol identify any key audit matters in relation to trre8ularities. includsng fraud. Part of the engagement teajn's assessment of non-cotnplian¢¢ with laws and regulalions includcd a review of the risk of management overridc of contro15.-fhis was carried out by way of a review of journals posted to the financial record$, reviewing accounting estimates and signtfi¢ant transactions that are outside the normal Gourse of operations, to idcntify any material mi5Statement which mdy be due to fraud. Additional r¢view5 were ¢8rried out in relation to laT8e and unusual transactions, indtcators of window dressing and undisclose<t related party transactions. The engagement tcam considered wbcther there Could be fraudulent revenue recognition by way of a review of revenue recognition accounting policies: testiiig mateTial income streams and tC5ting cut-off at the period end date. The disclosure5 Wlthin ihe atcount wcrc reviewed and agreed to 5UPPOrting do¢um¢nts to as%css eonJpliance with law5 and regulations. A Disclosure Chcckli5t was carried out to confirm Ihat th¢ financial statements comply with current iltcounling requirements. As part of an audii in accordance with ISA5 (UK), we exer¢ise profeb8ional judgement and maintain professional scepticism throll8hout the audit. We alw.. Identsfy and a%5&%$ the Tisks of material misstatemcnt of the financial statetnents, whether due to fraud or error. design and pcrforjn audit procedures reswnsive to those ri%ks. and obtain audit eviden¢e that is sufficient and appiDpriate to provide a basis for our opinton. The ri%k of not detecting 3 mal¢rial misst8temcnt rcsulting from fraud 15 higher than for one rcsulting from error, a5 fraud may involve collusion. forgery, intentional offli5SIOHS, misrepresentations. or the override of ini¢m21 control. Obtain an undersianding of internal control relevant to the audit in order to desi8n audit procedures that are appropriate in the circumstanccs, bvt not for the purpose of pressing an opinion on the effectiveness of the charity'5 internal control. L&aluate the appropriateness ofaccounting policies used aDd the rea8onableness of accounting cstimates and related disclosures made by the trust¢¢s. Page 9
RKPORT OFTHE INDEP)DEfIT AUDITORS TO THE TRusfEES OF FRJEYDS OFT.4RLAIR COMMIMTY GROUP Conclude on the &ppropriatene55 of the kn'ustee5' usc of the 8oin8 concrrn ba5js of accounting and. based on th¢ audil evidence obtained. w'hether a mat¢¥ial uncertainly exiyts related Lo ¢ve1118 or LonditlLTrliS thai n)ay ca%1 %igttifJLani doubt on the GhaLity s ability to continuc a goin8 Liinty¢in. If wc coTrGlude that a rnatei'ial unc£riainiv exist5, wc are rcquircd to draw 8itention in OUT Report of the Independent AuditoTs to tlie related disclo%ures in the fin&n¢ial Statements or, if such disclosures arc inadequate. to modifv our opinion. Our CODcIu5ions are ba5cd on the audit evidence obtained up Lo the dgie ofouT Report of thL Ind¢pendent Auditors. However, futur¢ events or Condition5 may cause the charit) s to Cease to continue as a Boing concern. Evaludle the overall presentation, stru¢iure and conient of the financial statements, including the disclo%uTe5. and whether ihe financial statements repriscnt the underlying Iran4aLtion5 and ei'ents in a manner thai achieves f&ir prestntation. We communicate with those charged with governante reÈai'ding. amon8 Oth¢r matiers, the plantked s¢op¢ tiTning of the audit and 5ignilicanl audit findings. includin8 any significant dcfLci¢n¢ies in internal ¢ot)trol that we identify 4urin8 our audit. Oth¢r th*tt¢rt The comparalive figures within these fm8ncial siatements ore unoudited. Ilse of our report 'lkni5 report is made solely io ihe ¢hArily'5 tru5tCC5. as a body. in accordance with Regulaiion 10 of the Charities A¢¢ount5 (Scotland} Regulations 2006. Ollr audit Work has beell undcrlaken so thai we might srgte to the ¢harity's IFust¢cs Ihose matterb we are rcquired to slate to iheIn in an audil()TS' repori and for no other purpose. To the fullest extent permitted bj law, w¢ do nol ucccpt or &s4uiiic I'fbpuiisibilily In anyune ()Iher than thv charity and the chaTIty's trusiecs bod). lor our audit work, for this rLWrt, or ti)r thL vpinions we havc formed. Chartered Accountant & Siatulory Auditoi. 26-30 Marine Placc 1Suckie Moray AB56 iu'r P8ge 10
FRIENDS OFTARLAIR COMMUNITY CROUP STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBEK 2024 2024 Total fuDd$ 2023 Total funds a5 re5t4t¢d Unre$tricted fund fttrICted fund N¢btes INCOML AND ENDOWMEPITS FROM Donations and legacics 1,329,655 1.340,972 408,280 Other trading a¢tivitie5 Investment income Totsl 4,169 1,622 17,108 4.169 1,622 1,346,763 1271 1,329,655 EXPENDrruRE ON Raising funds 899 899 550 Charit#ble adlvitie5 Genera] 12,821 13,720 43,251 43,251 56,072 56,971 38,335 38,885 NET INCOME 3.388 1,286.404 1,289,792 371,666 RECONCILIATION OF FUNDS Total fund5 brought fonvard 27,116 499.971 527,087 155,421 TOTAL FUNDS CARRIED FORWARD 30,504 1,786.375 .816,879 527,087 The notes form part of th¢s¢ finaneial Statements Pa8e 11
FRIENDS oF'fARLA COMMUNATY CROUP BAI,ANC.E SHF.ET 30 SEpfETrIBLH 2Q24 2024 Totsl Dd5 2023 Totgl Umrestritted fund Restricted fund Notts FIXED ASSETS Tangible assets 12 1,872 l.768.573 1,770,445 378,759 CURRENT ASSL15 Stocks Deblors C at bank 13 14 500 115 36,007 511) 109,805 500 133.550 IOi.599 237.049 109,690 16.564 126.254 162.876 cRDI.1ms Amounts falling due within one yesr 15 {7,990) (108,452) {116.442) (89,321) r4ET CURRENT ASSETS 28,632 17.802 46,434 148,328 TO'fAL ASSETS LESS CURRENT LIABILITIES 30,504 ,786,375 1,816.879 527,087 NET ASSETS 30,504 ,786,375 1.816.879 527,087 16 Unrestricled funds Restricted funds TOTAL Fuf4DS 30504 1,786,375 1816879 27.116 499.971 527.087 The financial statements were approved by the Board of Trusiees and auihorised for issue on ... and were sign&d on its behalf by-. The notes forni part of thes¢ financial statements Pag¢ 12
FAUENDS OFTARLAIR COMMUNITY GROUP CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEP'fEMBER 2024 2024 2023 as restated Notes Casb flows from optritlthg I11ti Cash 8eneraled from operations Net ca.sh provided by operating activities 1,339.504 1,339,504 326.937 326,937 Cash flow$ frnTn investing activlties Pur¢has¢ of tangiblc fixcd a$8ets Interest received Net cash used in investing activities {1,392,154} 1,622 {1,390,532} (248,891} 1248,8911 Change Én c#sh tash equivalthts in the reportillg period Cgsh #nd casb equivalents at the beginning of the rtportittg period CA$h and cash equivalents at the eDd of the reporting period 151,0281 78.046 103.599 25,553 52.571 103,599 The notes form part of these finan¢ial statements Page 13
FIUENDS OFTARLAIR COMMUNITY CROUP OTES TO THE CASII b'LOII' STATF,MENT FOR THL YEAR EN'DED 30 SEPTEMBER 2024 RECONCILIATION OF Nrf INCOME TO NET CASH FLOW FROM OPERATING A1VITIEs 2024 2023 gs reststed Net intome for tbe reporting period l*$ per tbe Stgtement of Finaneial Activities) Adju$tments for: Deprecs&tion Charges Interest rec¢ived Increase in stocks Decreasd{increa5eJ in debtors Incrca5e in credit(Irb Net cSh provldtd by operition5 1.289,792 371.666 11,6221 15001 1133,5501 89.321 326,937 23,745 27.121 1.339,504 ANALYSIS OF CHAIYGES IN NET FUNDS At 1.10.23 CA$h ftow At 30.9.24 Iyet tash Cash at bank 103.599 103.599 103.599 151.n28 52,571 52,571 Total 151.028} Thc notes fortn part of these financial Statements Page 14
FRIENDS OFTARI.AIAI CO.MMLNITY GROUP I-OTES I'Q TIII FINANCIAL SI'ATEMEliTS FOR TIIE YEAR ENDED JO SLPTE.MBER 2024 GEhTRAL JNFORM.4TION The cha office is scotland as a SC.10. The #ddre4s of the prin¢ipal ACCOUNI'ING POLICIES BASIS OF PREPARLNG THE FLNANCJAL STATEMENTS The firtdncial staiemenls uf the ¢harit)'* which 15 a public benefit entity und¢r FRS 102, havc becn prtpared accordan¢e ivith th¢ Charities SORP (I.-RS 1021 'Acc4)untin8 and Reporting bv ChariLi¢s." sthieineni OF ReLummLrtdcd PrdLli¢e appli¥abl¢ tu chaTities pirparing their accounts in 4c¢ordan¢e with the Financial Reporting Standard appliuble in the IIK and Rcpiiblic Df Ireland IFRS 102) (eft¢oliV¢ l January 2019),, Financial Reportin(k Srandard 102 'The Financial Reporting Standard applicable in the IIK and Republic nf Ireland, and the Chdrities and 'lru5tee Investment IS¢otlandl Act 2005. Thc finaiicial statements have becn prepared under the historical st convention. COME All llicotne is reeogthised irt thc Statcment ofFinanLial Activitie5 once the charit). has cnlitlement to the funds, it is probable ihat the income will bc I'¢eeii'ed and the aniouni can be measured rtliably. EXPENDITURK ,iabilitie8 dr¢ recognised ds expenditure as soon as there is a legal OT Constructive obli8ation committing the ¢ha'ity to tliat expenditure, il 18 probdFJle Ihat d trdn%fer i)r ebi)AiimiL b¢nefil5 M'ill be required in stitlement and thc amount ol Ihc obligalion can be measured reliahly. Expen(liture is accounted for on an acci'uals and has been cla8sifi¢d under heading5 that aggregate all cosi related thc Lat¢gory. Where LOStS Lunnot be directly attributcd io particular headin£5 thcy hawc bcen allocated to activities on a basis ¢()nsistent with the use of resourees. TAf4GtBLE FIXED ASSETS Depreciation is provided at the following aAt)llal r4t¢s in order to write off cach asset over its estimated llseful Fixturcs & Fittings- 20V• Reducing Balance S'iOCK5 Sturks aTe valued at thc lowcr ogco81 and net realisable valu4 after making due allowance for ob3ol¢te and slow moving ilems. TAXATIONI Thc Lharity 1% exempL from tsx on its Chartble aLlivities. FiThD ACCOUNTING Unrc5tricted funds ean be u.scd in ocwrd4n¢¢ wtih th¢ Gharilable objeLtives at the discretion of the trusttts. Restricied fund5 can only be used for partiLular lrIcted purwscs within the objects of the tharity. Resthciions arise whell spccificd by the donor or wh¢n funds arr IBi.scd for pariicular rG5tricied purposts. Further explgnfttion of the naturc and purwse of cath fund is included in the noie5 to the fJnancial.statememts. COING COliCERN There are no material uncertainties about the charity's ability to cotstirtue. Page 15 (A)lllinued...
FRIEDs OFTARLAIR COMMUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS- eoBtinued FOR THE YEAR ENDED 30 SLPTEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Ss restAted Donations Trust Proceeds Grants 9,573 2,342 44,0) 361.938 408,280 1,331,399 1.340,972 Grants received, included in the abovc, are as follows.. 2024 2023 as reststtd AberdeenshiTe Council Co-op Cominunity Crant Deveron Distritt 1,329,655 744 361.938 1,331,399 361.938 OTHER TRADING ACTIVITKES 2024 2023 *5 restated Fundraising events Merchandise sal¢s 3.630 539 4.169 688 1.583 2,271 INVESTMENT INCOME 2024 2023 5 reststed Deposit a¢¢ount interest Int¢r¢st re¢eiNable- trading ,622 Page 16 ¢ontinued...
FRIENDS OFTARL41R COMMUNITY GROUP NOTES TO THE FINANCIAL STATEFwlENTS- ¢tsnthDugd FOR THE YEAR EINDID 30 SEPTEMBER 2024 RAISING FUNDS RAISING DONATIOP4S AND LEGACIES 2024 2023 s restAted Fundraising expenses 84 OTHER TRADINC ACTIVITIES 2024 2023 45 restated Opening Stock Purchase% C105ing stock 500 815 1500} 815 1,050 1500) 550 Aggregate Atnounts 899 550 CHARITABLEACTtvtTIES COSTS Support costs (see note 8) Direct Costs Tots General 2,983 53,089 56,072 SUPPORT COSTS Goverrjance to$ts Finance Tota General 597 52,492 53,089 Support cosls, included in the above, are as follows.. 2024 2023 as rtst4ted Total actlvlti Genernl Bank charges D¢preciation of tangible fixed a*%ets Auditors, remwieration Sundries Ac¢ountancy and legal fees 129 6,500 43,251 2,741 53,089 35.836 1,270 37,106 Pa8e 17 cotttinued...
FRIYNDS OF TARLAIR COMMUTr4ITY GROUP NOTES IX) THE FINANC.IAI. STATEMENTS- continued FOR THE YEAR EIYDED 30 SEPTEMBER 2024 AUDITORS, REMUNERATION 21124 2023 as T£StAted Fees payablc to the ¢harity'5 auditors for the audit of the charity's financial statements 6,500 io. TRUSTEES, REMUNE114TIONAND BENEFITS There werc no irustec5' rcmuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 Septeniber 2023. TRUSTEES, EXPENSKS There were no truste¢s' expenses paid f¢)r the year ended 30 September 2024 nor for the yw ended 30 September 2023. COIMPA114TIVES FOR THE STATEMENT OF FINANCIALACTIVITIES Unrestrieted fulld Restritted Tot*1 funds as rutsted INCOME AND EYDOWMKNTS FROM Donation5 2nd le@a¢ie5 2J41 405,939 408,280 Other trading acliviiies Total 2,271 4,612 2,271 410,551 405.939 EXPEYDITURE ON Raising fllttds 550 550 Charitable activities General Totsl 2.499 35,816 3.049 36 38.335 38,885 NET INCOME 1,563 370.103 371.666 RECONCILL4TION OF FUNDS Total fund5 brought forwird As previously reported Prior year adjustment As rtststed 25,553 25,553 129,868 155,421 129,868 129,868 25,553 TOTAL FUNDS CARRIED FORWARD 27,116 499,971 527,087 Pa8e 18 continued...
FRIENDS OFTARLAIR COMMLIP41TY GROUP TriOTES TO THL FINANC.IAL STATLMETr4TS- tontinutd FOR THE YEAR ENDED 30 SEYFEMBKR 2024 12. PRIOR YEAR ADJUSTMENT The amount that was included a5 expenses in 2022 of £129,868 has been adjusted to be shown a5 building asset costs this yeor by way of a prior year adjusiment. 13. TANGIBLE FtXED ASSETS Fixtures and fittings Freehold property Totsls COST At l October 2023 Additions At 30 Sepiember 2024 DEPRECIATION Charg¢ for year NET BOOK VALU At 30 September 2024 At 30 Scptemb¢r 2023 378,759 1.389,814 1.768,573 378.759 -392,154 1,770,913 2,340 2,340 468 468 1.768.573 378.759 1,872 1.770,445 378.759 14. STOCKS 2024 2023 a5 reststsd Stocks 500 500 15. DEBTORS: AMOUNTS FALLINC DUE WITHTN ONE YEAR 2024 2023 a$ restated Other debtors VAT 91,408 18,397 109,805 68,330 65,220 133,550 Page 19 ODtirtued...
FRIENDS OF TARLAIR COMMVP41TYGROUP NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 30 SEwfEMBER 2024 16. CREDITORS.. AMOUNTS FALLING DUE WtTHTr ONE YEAR 2024 2023 5 restated Trade creditor5 Other creditors 108,667 7.775 88,321 1,000 17. MOVEMENT IN FUNDS Net movetnent in funds At 1.10.23 At 30.9.24 Unrestricted fund5 General thnd 27,116 3,388 30,504 Rt$trheted fllnds Restricted fund 499,971 1286,404 1,786.175 TOTAL FUNDS 527,087 ,289,792 1.816,879 Net movement in funds, in¢luded in the above are as follows: Incoming resources Resources ¢xpertded Moytment in funds UreStri¢l¢d funds General fund 17,108 113,720} 3,388 Rc5trieted Restricted fund 1,329,655 143,251) 1,286,404 TOTAL FUNDS I,i46,763 {56,9711 1,289,792 CompAfAtlves for movemeDt in futtds Prior year
djusimtnt
Ntt movemellt in funds At I.JO.22 At 30.9.2J urestriCted funds General fund 25.553 1,563 27.116 Restrftted funds Restricted fund 129,868 370,103 499,971 TOTAL FUNDS 129,868 371.666 527,087 Page 20 continued...
RIENDS OFTARLAIR COMMUN¥ CROUP NOTES TO'fHE FtTr4AYCIAL STAI'LMENTS- continued FOR THE YLAR ENDED 30 SEVtEMBER 2024 17. MOVEMENT IN FUNDS- tontlnutd comp1]ve net movement in funds, included in the above are as follows.. Rc50ur¢e$ eApend¢d Movement in funds rtsourtes Unrestricted funds Gcneral tund 4.612 13,0491 ,563 Restrlded funds Reslricled fund 405,939 135.836) 370,103 TOTALFUNDS 410,551 13¥,885} 371,666 A ¢urrL'nt year 12 month5 and prior year 12 month5 COTnbined position is as follows- Prior ye&r adjustment Net At 1.10.22 At 30.9.24 in fvnds Unre5tricttd fu$ Genera] fund 25,553 4,951 30,504 Restricted fund5 Resiricted tund 29,868 1,656,507 1.786,375 TOTAL FUNDS 25,553 129.868 1.661,458 1,816,879 A current year 12 months and prior year 12 months combined net movement in lunds, included in the above are as follows: Intoming resources Re$oknrtes ¢xpcnded Movement in lund5 UnrestrStted funds Generdl fund 21,720 {16,7691 4,951 Restricted funds Rcstrictcd fund 1,735,594 179.087) 1,656,507 TOTALFUNDS 1,757,314 195,856) ,661,458 The rcstricted fund Telatrs to funding rcceived toward5 the proje¢t ¢ost$ incurred for the refurbi5htnents at ihe outdoor swimming wol it) Tarlair. Page 21 contKnued.
FRIENDS OFTARLAIR COMMUNITY GROUP NOTES TO THE FINANCIAL STATEMEIY'I'S- tontinutd FOR THE YbAR ENDED 30 SEP'fEMBER 2024 18. RELATED PARTY DISCLOSLRES There were no related party transactions for the year ended 30 Seplember 2024. Page 22
FRIENDS OFTARLAtR COMIIIUNITY CROUP DETAILED STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 30 SEPTEIIBER 2024 2024 2023 $ rc5tated Support ¢osts Fillauce Bank chlwgcs Fixtllr¢s and fJtting5 129 468 597 Governanee eo$ts Auditors, rtrnuneration Sundrie5 AGcountan¢y and le8al fees 6,5(K) 4i,251 2,741 52.492 56,971 1289.792 35,836 ,270 37,106 38,885 371,666 Total resour¢e5 expcnded Net ittcome This page does not fortn part of the statutory financ2al statements Page 24