West Fife Fencing Club
Annual Report and Unaudited Financial Statements
For the year ended 31 August 2025 Charity registration number SC045885 (Scotland)
West Fife Fencing Club
Trustees’ Report for the year ended 31 August 2025
1 to the financial statements and comply with the Scottish Charitable Incorporated Organisation (SCIO)'s governing Constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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
The primary objective of the charity is the advancement of public participation in sport by providing a provision of recreational facilities, or the organisation of recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended.
The general activities or the charity is to promote and provide facilities & equipment for the sport of fencing and to promote community participation in the sport of fencing in Dunfermline & West Fife, Scotland.
The Trustees have paid due regard to guidance issued by the Scottish Charity Regulator (OSCR) in deciding what activities the SCIO should undertake.
Achievements and performance
The club has continued to maintain regular week night training sessions (three nights per week) and now have well attended training sessions. New members are encouraged to join, with membership increasing, particularly with younger fencers. Tester sessions have been held at several local primary schools to encourage children to try the sport.
WFFC fencers participated in competitions in every month of the year under review, from local youth development competitions to UK opens and international competitions. Two fencers attended the British Youth Championships in 2025, including one top 8 finisher. In addition, several fencers have been selected to fence for team GBR in international competitions, including the Veterans World Championships in Dubai.
Our fencers have come together to fence in team competitions, with several WFFC teams entered in local team challenges, as well selection for regional and national team events.
Alongside the fencers, WFFC referees have officiated at numerous national and international competitions, and armoury support has been provided at many UK events.
Financial review
£1,848) related to unrestricted funds and £nil (2024 : £634) related to restricted funds. The principal funding sources during the year were membership fees.
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had been fully expended in prior periods. The opening funds balances have been restated to remove £11,468 of restricted funds. Comparative figures have been adjusted accordingly. These funds relate to the One Family grant for the renovation of the premises. The associated renovation work took place several years ago but change in restricted funds was not recorded. The Trustees have reviewed the procedures for accounting for grants received and controls have been established to ensure expenditure is completely and accurately recorded.
should be maintained at a level equivalent to between three and six month’s expenditure. However, due to COVID-19, the reserves policy was amended and should be maintained at a level equivalent to one year's expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the SCIO’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Risk management policy
The trustees have a risk management strategy which comprises of an annual review of the principal risks and uncertainties that the charity face. Establishment of policies, systems and procedures to mitigate those risks are identified in the annual review and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liaison with the bank, and active management of trade debtors and creditors balances to ensure sufficient working capital by the Trust.
health and safety of members. These risks are managed by ensuring accreditation is up to date, applying the robust policies and procedures to ensure that the health and safety of all those using the WFFC facilities is kept at the forefront of the trustees minds, and regular awareness training for staff working in these operational areas.
Reserves policy
The Board has set a target to maintain its reserves at a level equivalent to one year running costs for the charity.
Plans for Future Years
The club has maintained the regular 3 evening per week training sessions at the Wellwood facility for the past few years and plan to continue on this basis.
The Club is still considering the possibility of letting part or all of the Wellwood Primary School out when not being used for fencing. Facilities improvements and maintenance work are ongoing to enable this to happen in the coming year.
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The club will also continue to explore new ways of raising funds in order to help provide a sustainable model for the club to maintain its premises and equipment in order to make the sport more accessible and therefore increase the public participation in the sport.
Structure, governance and management
West Fife Fencing Club became a Scottish Charitable Incorporated Organisation (SCIO) on 6 August 2015 and a governing Constitution was put in place at that date. It is registered as a charity with the Office of the Scottish Charity Regulator (OSCR). Before becoming a Scottish Charitable Organisation, West Fife Fencing Club was an Unincorporated Association.
Mr K Rose Mrs L Rose (resigned 07/03/2026) Mr D Fielding Mrs K Grant
Mr G Mann
Mr K Romans (appointed 08/02/2025) Mrs L Dawson (appointed 08/02/2025) Mrs C Romans (appointed 07/03/2026)
The trustees consider themselves to be all equal in respect of key management personnel. All trustees give their time freely and no trustee remuneration was paid in the Year.
Trustees disclose all relevant interests in the board minutes.
Recruitment and Appointment of Trustees
The maximum number of trustees on the board must be 7, and the minimum 3. New Trustees will only be considered eligible if they are a member of the club. Any person over the age of 16 who demonstrates a genuine commitment to the furthering its purposes may apply to be a trustee. At each AGM, the members may elect any member to be charity trustee. At each AGM, all the trustees must retire from office, but then may be re-elected.
Registered Office
Main Road, Wellwood, Dunfermline, Fife, KY12 0NR
Independent Examiner
Vicki Amos, FCCA, Apex Accountancy and Business Services Ltd., 15 Chalmers Street, Dunfermline, KY12 8AT
Bankers
Bank of Scotland, 11-13 East Port, Dunfermline, Fife KY12 7JY
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West Fife Fencing Club
Statement of Trustees' responsibilities
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
financial year which give a true and fair view of the state of affairs of the SCIO and of the incoming resources and application of resources of the SCIO for that year.
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the SCIO and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the trust deed. They are also responsible for safeguarding the assets of the SCIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees' report was approved by the Board of Trustees.
Mr K Rose Trustee Date: 8[th] May 2026
Mrs L Dawson Trustee Date: 8[th] May 2026
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West Fife Fencing Club
Independent Examiner’s Report to the Trustees of West Fife Fencing Club
pages 7 to 15.
Respective responsibilities of Trustees and examiner
the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's Trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination is 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeks explanations 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 financial statements.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(a) which gives me reasonable cause to believe that in any material respect the requirements:
(i) to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
Regulation 8 of the 2006 Accounts Regulations;
have not been met or
(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
Vicki A Amos
Vicki Amos, FCCA, Apex Accountancy and Business Services Ltd.
Independent Examiner Date: 11-May-2026
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West Fife Fencing Club
Statement of Financial Activities including income and expenditure account for the year ended 31 August 2025
| Notes Income from: Donations & legacies 2 Other trading activities 3 Total Income Expenditure on: Charitable activities 4 Total expenditure Net expenditure and movement in funds Reconciliation of funds: Fund balances at 1 Sept 2024 Fund balances at 31 August 2025 |
Unrestricted Funds 2025 £ 7,993 1,151 9,144 14,056 14,056 (4,912) 48,479 43,567 |
Restricted Funds 2025 £ - - - - - - - - |
Total 2025 £ 7,993 1,151 9,144 14,056 14,056 (4,912) 48,479 43,567 |
Unrestricted Funds 2024 £ 6,359 3,916 10,275 12,123 12,123 (1,848) 50,327 48,479 |
Restricted Funds 2024 £ - - - 634 634 (634) 634 - |
Total 2024 £ 6,359 3,916 |
|---|---|---|---|---|---|---|
| 10,275 12,757 |
||||||
| 12,757 | ||||||
| (2,482) 50,961 |
||||||
| 48,479 |
expenditure derive from continuing activities.
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West Fife Fencing Club
Balance Sheet
As at 31 August 2025
| Notes Fixed Assets Tangible Assets 9 Current Assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Creditors: amounts falling due within one year 12 Net assets Income funds Restricted funds 13 Unrestricted funds 14 |
2025 £ - 12,969 12,969 (1,869) |
2025 £ 86,619 11,100 97,719 (54,152) 43,567 - 43,567 43,567 |
2024 £ 2,398 14,920 17,318 (3,599) |
2024 £ 88,912 13,719 |
|---|---|---|---|---|
| 102,631 | ||||
| (54,152) | ||||
| 48,479 | ||||
| - 48,479 |
||||
| 48,479 |
Mr K Rose
Trustee
Date: 8[th] May 2026
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West Fife Fencing Club
Notes to the Financial Statements for the year ended 31 August 2025
1) Accounting policies
Charity information
West Fife Fencing Club is a Scottish Charitable Incorporated Organisation (SCIO) incorporated on 6 August 2015. The registered office is Main Road, Wellwood, Dunfermline, Fife KY12 0NR.
1.1 Accounting convention
the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The SCIO is a Public Benefit Entity as defined by FRS 102.
The SCIO has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
Monetary amounts in these financial statements are rounded to the nearest pound.
1.2 Going concern
the charity has adequate resources to continue in operational existence for the next 12 months. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the SCIO is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the SCIO has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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West Fife Fencing Club
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or construction obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measure reliably.
net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
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Freehold land and buildings 2% Straight Line
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Plant and equipment 20% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the SCIO reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The SCIO has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section
Financial instruments are recognised in the SCIO's balance sheet when the SCIO becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the
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West Fife Fencing Club
transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the SCIO’s contractual obligations expire or are discharged or cancelled.
2) Donations and legacies
| Grants Membership fees ther trading activities Fundraising Other income Bank interest |
Unrestricted funds 2025 £ - 7,993 7,993 2025 £ 92 1,036 3 1,151 |
Unrestricted funds 2024 £ - 6,359 |
|---|---|---|
| 6,359 | ||
| 2024 £ 18 3,898 - |
||
| 3,916 |
3) Other trading activities
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West Fife Fencing Club
4) Expenditure on charitable activities
| Direct costs Fencing Equipment Share of support and governance costs (see note 5) Support Governance Analysis by fund Unrestricted funds Restricted funds |
2025 £ - 13,575 481 14,056 14,056 - 14,056 |
2024 £ 711 11,086 960 |
|---|---|---|
| 12,757 | ||
| 12,123 634 |
||
| 12,757 |
5) Support costs
| Depreciation Electricity and Gas Wellwood running costs Telephone Independent examination Insurance Club development Depreciation Electricity and Gas Wellwood running costs Telephone Independent examination Insurance |
Support Costs £ 2,293 5,498 4,950 - - 634 200 |
Governance Costs £ - - - - 481 - - |
2025 £ Basis of allocation 2,293 Direct 5,498 Direct 4,950 Direct - Direct 481 Direct 634 Direct 200 Direct 14,056 2024 £ Basis of allocation 2,293 Direct 5,468 Direct 2,166 Direct 569 Direct 960 Direct 590 Direct 12,046 |
|---|---|---|---|
| 13,575 | 481 | ||
| Support Costs £ 2,293 5,468 2,166 569 - 590 11,086 |
Governance Costs £ - - - - 960 - 960 |
Governance costs includes payments to the accountants of £481 (2024: £960) for independent examination fees.
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6) Net Movement in funds
The net movement in funds is stated after charging:
| et Movement in funds he net movement in funds is stated after charging: |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation of owned tangible fxed assets | 2,293 | 2,293 |
7) Trustees
from the SCIO during the year.
8) Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9) Tangible Fixed Assets
| 9) Tangible Fixed Assets | |||
|---|---|---|---|
| Freehold land and buildings £ Cost At 1 September 2024 107,026 Additions - At 31 August 2025 107,026 Depreciation At 1 September 2024 18,688 Charge for the year 2,141 At 31 August 2025 20,829 Net Book Value At 31 August 2025 86,197 At 31 August 2024 88,338 10) Debtors Other debtors 11) Creditors: amounts falling due within one year Accruals and deferred income |
Plant and equipment £ 2,307 - 2,307 1,733 152 1,885 422 574 |
Fixtures and fttings £ 1,613 - 1,613 1,613 - 1,613 - - 2025 £ - 2025 £ 1,869 |
Total £ 110,946 - |
| 110,946 22,034 2,293 |
|||
| 24,327 86,619 |
|||
| 88,912 | |||
| 2024 £ 2,398 2024 £ 3,599 |
10) Debtors
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12) Creditors: amounts falling due after more than one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Loans from members | 54,152 | 54,152 |
13) Restricted funds
| At 1 September 2024 Incoming resources Resources expended At 1 September 2024 Incoming resources Resources expended At 31 August 2025 |
One Family Grant £ - - - - - - - |
Arnold Clark Grant £ 634 - (634) - - - - |
Total £ 634 - (634) |
|---|---|---|---|
| - - - |
|||
| - |
The One Family Grant
The purpose of this grant is to contribute to the renovation costs of the premises. The comparative financial statements showed a balance of £11,468 remaining on the One Family Grant at 1[st] September 2024. During the year, the SCIO identified that certain restricted funds included in brought forward balances had been fully expended in prior periods. The opening funds balances have been restated to remove £11,468 of restricted funds (see note 17).
The Arnold Clark Grant
The purpose of this grant is to purchase equipment.
14) Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 September Incoming resources Resources expended At 31 August |
2025 £ 48,479 9,144 (14,056) 43,567 |
2024 £ 50,327 10,274 (12,123) |
|---|---|---|
| 48,479 |
[st] September 2024 which have been reclassified as unrestricted. See note 17.
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15) Analysis of net assets between funds
| At 31 August 2025 Tangible assets Current assets / (liabilities) Long term liabilities At 31 August 2024 Tangible assets Current assets / (liabilities) Long term liabilities |
Unrestricted funds £ 86,619 11,100 (54,152) 43,567 Unrestricted funds £ 88,912 13,719 (54,152) 48,479 |
Restricted funds £ - - - - Restricted funds £ - - - - |
Total £ 86,619 11,100 (54,152) |
|---|---|---|---|
| 43,567 | |||
| Total £ 88,912 13,719 (54,152) |
|||
| 48,479 |
16) Related Party Transactions
There were no disclosable related party transactions during the year (2024: none).
17) Prior Year Adjustment
balances had been fully expended in prior periods. The opening funds balances have been restated to remove £11,468 of restricted funds. These funds are now shown as unrestricted funds. Comparative figures have been adjusted accordingly. These funds relate to the One Family grant for the renovation of the premises (note 13). The associated renovation work took place several years ago but change in restricted funds was not recorded. The Trustees have reviewed the procedures for accounting for grants received and controls have been established to ensure expenditure is completely and accurately recorded.
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