_**FINANCIAL STATEMENTS**_ 

## **South Ayrshire Social Enterprise Network** 

**Annual Report and Unaudited Financial Statements** 

**for the financial year ended 31 March 2025** 

**Parris & McNally Ltd 6 Crofthead Road, Prestwick KA9 1HW GB** 

**Charity Number: SC046433** 



## **South Ayrshire Social Enterprise Network** 

## **CONTENTS** 

||**Page**|
|---|---|
|Trustees' and Other Information|3|
|Trustees' Annual Report|4 - 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 - 11|
|Supplementary Information relating to the Financial Statements|13 - 14|



**2** 



**South Ayrshire Social Enterprise Network TRUSTEES' AND OTHER INFORMATION** 

## **Trustees** 

**Charity Number in Scotland** 

**Registered Office and Principal Address** 

## **Independent Examiner** 


SC046433 

c/o Gaiety Theatre Carrick Street Ayr South Ayrshire KA7 1NU Parris & McNally Ltd 6 Crofthead Road, Prestwick KA9 1HW GB 

**3** 



## **South Ayrshire Social Enterprise Network TRUSTEES' ANNUAL REPORT** 

for the financial year ended 31 March 2025 

The trustees present their Trustees’ Annual Report and the unaudited financial statements for the financial year ended 31 March 2025. 

The financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP) (FRS 102). 

The Trustees’ Annual Report has been prepared in accordance with the requirements of the Charities SORP (FRS 102) and Scottish charity law. The trustees are charity trustees for the purposes of charity law and are responsible for the governance of the charity in accordance with its constitution. 

In this report, the trustees of South Ayrshire Social Enterprise Network present a summary of the charity’s purpose, governance, activities, achievements and financial performance for the financial year ended 31 March 2025. 

The charity is a Scottish Charitable Incorporated Organisation (SCIO) registered in Scotland, and the financial statements and report are presented in a form which complies with the requirements of Scottish charity legislation and the Charities SORP (FRS 102). 

## **Principal Activity** 

SASEN’s main activity is to be a network and support organisation for social enterprises in South Ayrshire – helping them to develop, trade effectively, collaborate, and contribute to the local community and economy. 

## **Mission, Objectives and Strategy** 

## **Objectives** 

The organisation's purposes are to advance community development, promote the voluntary sector and the effectiveness/efficiency of charities, and advance education, by: 

1.1 Providing opportunities for social enterprises to learn how to run their businesses better (including - but without limitation - by facilitating action learning and the exchange of information); 

1.2 Providing opportunities for social enterprises to grow their businesses (including - but without limitation - initiatives that identify trading opportunities and facilitate joint trading opportunities); 1.3 Promoting goods and services provided by social enterprises; 

And on the basis that the business of the organisation will be carried on for the benefit of the community within South Ayrshire. 

## **Review of Achievements and Performance** 

relocated to Fife and stepped down as the Chair of SASEN and as a Trustee in October 2024. 

took up the role of Chair and the SASEN board, supported by its Development Officer, continued to meet to explore initiatives to support local social enterprises. 

Thanks to funding from South Ayrshire Council’s Community Wealth Building team, SASEN engaged the services of a Social Media expert to provide support and guidance for making the most of social media marketing, tailored to the ambitions of our member organisations. 9 organisations benefitted from this project and the feedback received was extremely positive. As a result, several member organisations now have a defined target audience, clearer goals for reach, and a strategy for developing their social media over the next 6-12 months. Following on from this there is a desire amongst their teams to improve and become more confident creating the content that will help the organisation reach their targets online. 

There were discussions with local and national stakeholders on how core funding for the Network might be secured. These discussions will continue in 2025-26. 

## **Financial Review** 

The results for the financial year are set out on page 7 and additional notes are provided showing income and expenditure in greater detail. 

## **Income** 

The organisation received grants for the development of the South Ayrshire Social Enterprise Network from the Scottish Government. 

**4** 



## **South Ayrshire Social Enterprise Network TRUSTEES' ANNUAL REPORT** 

for the financial year ended 31 March 2025 

## **Results** 

At the end of the financial year the charity has assets of £1,639 (2024 - £8,285) and liabilities of £420 (2024 - £420). The net assets of the charity have decreased by £(6,646). 

## **Reserves Position and Policy** 

## **Reserves Policy** 

The charity has limited turnover, being primarily a networking organisation. Reserves policy is to seek to maintain a reserve that would equate to at least three months of active delivery.  This policy was met throughout the year. 

## **Trustees** 

The trustees who served throughout the financial year, except as noted, were as follows: 


In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re-election. 

## **Compliance with Sector-Wide Legislation and Standards** 

The charity engages pro-actively with legislation, standards and codes which are developed for the sector. South Ayrshire Social Enterprise Network subscribes to and is compliant with the following: 

- Charities Accounts (Scotland) Regulations 2006 

- The Charities SORP (FRS 102) 

## **Approved by the Board of Trustees on 19[th] January 2026 and signed on its behalf by:** 


## **Trustee** 

**5** 



South Ayrshlre Soclal Enterprise Network
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
OF SOUTH AYRSHIRE SOCIAL ENTERPRISE NETWORK
We have examined the financial statements of the charty for the financial year ended 31 March 2025. which comprise
the Statement of Financial Aclivities (incorporatirg an Income and Expendtture Account). the Balan￿ Sheet and the
related notes.
Thls report Is made solely to the charlty's members, as a body, In accordance wlth the temis ofthe Charftles and Trustee
Investment (Scotland) Ad 2005 and the Charilies Accounts {ScO￿and} Regulations 2006. Our work has been
undertaken so that we might compile the finanaal statements that we have been engaged to compile, report to the
Board of Trustees that we have done so. and state those matters that we have agreed to state to them in this report
and for no other purpose. To the fullest extent pemitted by law. we do not accept or assume responsibility to anyone
other than the charity and the charivs membet5. as a body. for our WDrk. or for this reFOrt.
ResPe￿￿e responslblltlles of trustees and examlner
The charity's trustees are responsible for the Pfeparat'on of finandal statements in accordance wlth ￿ requirements
of the Charities and Trustee Investment (Sco￿and) Act 2005 and Charities Accounts {Scotland) Regulations 2006.
The charty's trustees consider that an audit is not required for this financial year under Regulation 10111 la) to (c) of
the 2006 Accounts Regulations arKI that an independent examination is required.
It is our resp)nsibilty to:
examine the finanaal statements under Secti(￿ 44(11 Ic) of Ihe Art and
state whether partlcular matters have come to our attentlon.
Basis of independent examiners report
Our examination was carried out in accordance V￿th Regulalion 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
wth those records. It also includes consideration of any unusual items or disclosures in the financial ststements arKI
seeking explanations from the trustees con￿mIng any such matters. The procedures undertaken do not provide all the
evidence that would be required in an audtt and cortsequenly no opinion is given as to whether the accounts present
Irue and falrf vlew and the report Is limlted to those mattefs set out In the statement below.
Independent examiners statement
In connection wth our examination. no matter has come to our attention which gives us cause to believe that in, any
material respect:
accounting records were not kept in accordance with section 44(1) (a) of the 2005 Ad and Regulati￿ 4 of the 2006
Accounts Regulatior
the financial statements do Mt accord with thcjse accounting records and compty with Regulation 8 of the 2006
Accounts Regulations
the finanual statements do not compty account'rvJ requirements of the Charitles Act
the financial stslements have not been prepared in accordance with the Statement of Recommended Practice
applicable to charitses preparing their accounts in accordance ￿￿th the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS102)
there is further infomiation needed for a proper understandiTrJ of the accounts to be reached.
PARRIS & MCNALLY LTD
6 Crofthead Road.
Prestrmck
KA91HW
GB
Date: 19101126

## **South Ayrshire Social Enterprise Network STATEMENT OF FINANCIAL ACTIVITIES** 

**(Incorporating an Income and Expenditure Account)** 

for the financial year ended 31 March 2025 

|||**Unrestricted**|**Total**|Unrestricted|Total|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|Funds|Funds|
|||**2025**|**2025**|2024|2024|
||**Notes**|**£**|**£**|£|£|
|**Income**||||||
|Donations and legacies|**3.1**|**7,830**|**7,830**|4,630|4,630|
|||───────|───────|───────|───────|
|**Expenditure**||||||
|Charitable activities|**4.1**|**14,476**|**14,476**|17,860|17,860|
|||───────|───────|───────|───────|
|**Net income/(expenditure)**||**(6,646)**|**(6,646)**|(13,230)|(13,230)|
|Transfers between funds||**-**|**-**|21,095|21,095|
|||───────|───────|───────|───────|
|**Net movement in funds for the financial year**||**(6,646)**|**(6,646)**|7,865|7,865|
|**Reconciliation of funds:**||||||
|Total funds beginning of the year|**8**|**7,865**|**7,865**|-|-|
|||───────|───────|───────|───────|
|**Total funds at the end of the year**||**1,219**|**1,219**|7,865|7,865|
|||═══════|═══════|═══════|═══════|



The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. 

The notes on pages 9 to 11 form part of the financial statements 

**7** 



## **South Ayrshire Social Enterprise Network Company Number: SC046433 BALANCE SHEET** 

as at 31 March 2025 

|||**2025**|2024|
|---|---|---|---|
||**Notes**|**£**|£|
|**Current Assets**||||
|Cash at bank and in hand||**1,639**|8,285|
|||───────|───────|
|**Creditors: Amounts falling due within one year**|**6**|**(420)**|(420)|
|||───────|───────|
|**Net Current Assets**||**1,219**|7,865|
|||───────|───────|
|**Total Assets less Current Liabilities**||**1,219**|7,865|
|||═══════|═══════|
|**Funds**||||
|General fund (unrestricted)||**1,219**|7,865|
|||───────|───────|
|**Total funds**|**8**|**1,219**|7,865|
|||═══════|═══════|



These financial statements have been prepared in accordance with the Charities Accounts (Scotland) Regulations 2006. The charity is entitled to an independent examination under Regulation 10 of the Regulations. 

## **Approved by the Board of Trustees and authorised for issue on 19[th] January 26 and signed on its behalf by** 


**Trustee** 

The notes on pages 9 to 11 form part of the financial statements 

**8** 



## **South Ayrshire Social Enterprise Network NOTES TO THE FINANCIAL STATEMENTS** 

for the financial year ended 31 March 2025 

## **1. GENERAL INFORMATION** 

South Ayrshire Social Enterprise Network is a Scottish Charitable Incorporated Organisation (SCIO) registered in Scotland (charity number SC046433). 

## **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements. 

## **Basis of preparation** 

The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102”. 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) and applicable Scottish charity legislation. 

## **Statement of compliance** 

The financial statements of the charity for the financial year ended 31 March 2025 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102". 

## **Cash flow statement** 

The charity has availed of the exemption in FRS 102 from the requirement to produce a cash flow statement because it is classified as a small charity. 

## **Fund accounting** 

The following are the categories of funds maintained: 

## **Restricted funds** 

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. 

## **Unrestricted funds** 

Unrestricted funds consist of General and Designated funds. 

- General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity. 

- Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund. 

## **Income** 

Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity. 

## **Income from charitable activities** 

Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors. 

Grants from governments and other co-funders typically include one of the following types of conditions: 

- Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a 

**9** 



continued 

## **South Ayrshire Social Enterprise Network NOTES TO THE FINANCIAL STATEMENTS** 

for the financial year ended 31 March 2025 

grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income. 

-Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement. 

In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement. 

Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier. 

## **Expenditure** 

Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity. 

## **Cash at bank and in hand** 

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. 

## **Taxation and deferred taxation** 

The charity is recognised as a charity by the Office of the Scottish Charity Regulator (OSCR) and is therefore exempt from income tax and corporation tax on income and gains applied for charitable purposes. 

|**3.**|**INCOME**||||||
|---|---|---|---|---|---|---|
|**3.1**|**DONATIONS AND LEGACIES**||**Unrestricted**|**Restricted**|**2025**|2024|
||||**Funds**|**Funds**|||
||||**£**|**£**|**£**|£|
||Donations and legacies||**7,830**|**-**|**7,830**|4,630|
||||═══════|═══════|═══════|═══════|
|**4.**|**EXPENDITURE**||||||
|**4.1**|**CHARITABLE ACTIVITIES**|**Direct**|<br>**Other**|**Support**|**2025**|2024|
|||**Costs**|<br>**Costs**|**Costs**|||
|||**£**|<br>**£**|**£**|**£**|£|
||Expenditure on charitable activites|**-**|<br>**-**|**14,266**|**14,266**|17,650|
||Governance Costs (Note 4.2)|**-**|<br>**-**|**210**|**210**|210|
|||───────|───────|───────|───────|───────|
|||**-**|<br>**-**|**14,476**|**14,476**|17,860|
|||═══════|═══════|═══════|═══════|═══════|
|**4.2**|**GOVERNANCE COSTS**|**Direct**|<br>**Other**|**Support**|**2025**|2024|
|||**Costs**|<br>**Costs**|**Costs**|||
|||**£**|<br>**£**|**£**|**£**|£|
||Charitable activities - governance|**-**|<br>**-**|**210**|**210**|210|
||costs||||||
|||═══════|═══════|═══════|═══════|═══════|
|**4.3**|**SUPPORT COSTS**||**Charitable **|**Governance**|**2025**|2024|
||||**Activities**|**Costs**|||
||||**£**|**£**|**£**|£|
||Support||**14,266**|**210**|**14,476**|17,860|
||||═══════|═══════|═══════|═══════|



**10** 



continued 

## **South Ayrshire Social Enterprise Network NOTES TO THE FINANCIAL STATEMENTS** 

for the financial year ended 31 March 2025 

|**5.**|**ANALYSIS OF SUPPORT COSTS**|||||||
|---|---|---|---|---|---|---|---|
|||||||**2025**|2024|
|||||||**£**|£|
||Support|||||**14,476**|17,860|
|||||||═══════|═══════|
|**6.**|**CREDITORS**|||||**2025**|2024|
||**Amounts falling due within one year**|||||**£**|£|
||Accruals and deferred income|||||**420**|420|
|||||||═══════|═══════|
|**7.**|**RESERVES**|||||||
|||||||**2025**|2024|
|||||||**£**|£|
||At the beginning of the year|||||**7,865**|-|
||Deficit for the financial year|||||**(6,646)**|(13,230)|
|||||||───────|───────|
||At the end of the year|||||**1,219**|(13,230)|
|||||||═══════|═══════|
|**8.**|**FUNDS**|||||||
|**8.1**|**RECONCILIATION OF MOVEMENT**|**IN FUNDS**||||**Unrestricted**|**Total**|
|||||||**Funds**|**Funds**|
|||||||**£**|£|
||At 1 April 2023|||||-|-|
||Movement during the financial year|||||7,865|7,865|
|||||||───────|───────|
||At 31 March 2024|||||7,865|7,865|
||Movement during the financial year|||||(6,646)|(6,646)|
|||||||───────|───────|
||At 31 March 2025|||||**1,219**|**1,219**|
|||||||═══════|═══════|
|**8.2**|**ANALYSIS OF MOVEMENTS ON FUNDS**|||||||
|||**Balance**||**Income **|**Expenditure**|**Transfers**|**Balance**|
|||**1**|**April**|||**between**|**31 March**|
||||**2024**|||**funds**|**2025**|
||||**£**|**£**|**£**|**£**|**£**|
||**Unrestricted funds**|||||||
||Unrestricted General|7,865||7,830|14,476|-|1,219|
|||───────||───────|───────|───────|───────|
||**Total funds**|**7,865**||**7,830**|**14,476**|**-**|**1,219**|
|||═══════||═══════|═══════|═══════|═══════|
|**8.3**|**ANALYSIS OF NET ASSETS BY FUND**|||||||
||||||**Current**|**Current**|**Total**|
||||||**assets**|**liabilities**||
||||||**£**|**£**|**£**|
||Unrestricted general funds||||1,639|**(420)**|1,219|
||||||───────|───────|───────|
||||||**1,639**|**(420)**|**1,219**|
||||||═══════|═══════|═══════|



**9. POST-BALANCE SHEET EVENTS** 

There have been no significant events affecting the Charity since the financial year-end. 

**11** 



_**FINANCIAL STATEMENTS**_ 

## **SOUTH AYRSHIRE SOCIAL ENTERPRISE NETWORK** 

## **SUPPLEMENTARY INFORMATION** 

## **RELATING TO THE FINANCIAL STATEMENTS** 

**FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

**12** 



## **South Ayrshire Social Enterprice Network** 

## **SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS** 

## **OPERATING STATEMENT** 

for the financial year ended 31 March 2025 

|||**2025**|2024|
|---|---|---|---|
||**Schedule**|**£**|£|
|Income||**7,830**|4,630|
|Charitable activities and other expenses|**1**|**(14,476)**|(17,860)|
|||───────|───────|
|**Net deficit**||**(6,646)**|(13,230)|
|||═══════|═══════|



The supplementary information does not form part of the  financial statements 

**13** 



## **South Ayrshire Social Enterprice Network** 

## **SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS SCHEDULE 1 : CHARITABLE ACTIVITIES AND OTHER EXPENSES** 

for the financial year ended 31 March 2025 

||**2025**|2024|
|---|---|---|
||**£**|£|
|**Expenses**|||
|Printing, postage and stationery|**-**|148|
|Travelling and entertainment|**-**|1,229|
|Consultancy fees|**13,873**|15,913|
|Accountancy|**210**|210|
|Subscriptions|**393**|360|
||───────|───────|
||**14,476**|17,860|
||═══════|═══════|



The supplementary information does not form part of the  financial statements 

**14**