Charity registration number S$C046611 (Scotland)
ORKNEY MEN'S SHED
A SCOTTISH CHARITABLE INCORPORATED ORGANISATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
ORKNEY MEN'S SHED
A SCOTTISH CHARITABLE INCORPORATED ORGANISATION LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
(Appointed 9 January 2025)
(Appointed 18 December 2024)
Charity number (Scotland)
SC046611
Principal address
Holmlea
West Greaves Road
St Marys Holm Orkney KW17 2RU
Independent examiner
A.J.B. Scholes Ltd 8 Albert Street Kirkwall Orkney KW15 1HP
ORKNEY MEN'S SHED
A SCOTTISH CHARITABLE INCORPORATED ORGANISATION CONTENTS
| Page | |
|---|---|
| Trustees’ report | 1-2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notestothefinancialstatements | 6-12 |
ORKNEY MEN'S SHED A SCOTTISH CHARITABLE INCORPORATED ORGANISATION TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025
The trustees present their annual report and financial statements for the year ended 30 June 2025.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's written 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)” (as amended for accounting periods commencing from 1 January 2019)
Objectives and activities
The charity's purpose is to address the social, health and wellbeing needs of men of all ages and backgrounds living in Orkney, through the creation, upkeep and development of facilities in which men can meet and jointly or individually undertake creative, physical and recreational activities of their choice.
Achievements and performance
The Shed has entered its 10th year and, the third year at the Old Herring Factory in Stromness. The membership continues to grow and now sits at over 300, with 2 or 3 new members joining each month. As requested by members, and in order to encourage folk who might well be working, we have extended our opening times to Wednesday evenings and Saturdays. The average attendance is now more than 60 per week.
We continue to get new members referred by local doctors and health workers, and family members often report the good effects Shed attendance has. The Shed has hosted events with local health organisations such as Orkney Prostate Awareness coming to talk at the Shed. Lunch times are still very popular with hot soup and rolls during the winter months and rolls during the summer. There are times when it is difficult to get a seat in the mess room!
The woodworking workshop has been very busy with a major project for the Island Games, which Orkney is hosting in July 2025. Part of the Games request was to build 8 sets of presentation podiums for gold, silver and bronze medal winners. Some big enough (and strong enough) for team events. In addition to the podiums, we were asked to make bench seating for spectators at the athletic events.
The metalworking shop has been repairing lawn mowers and strimmers etc which are sold to raise funds. Many of these were destined to be scrapped but now have a second life as well as providing a useful source of income to the Shed. Recently the Shed has purchased welding equipment and is busy building a suitable enclosure in which to weld safely.
The craft/computer room is also seeing increased use with computing, model making, leather work and, use of a 3D printer recently purchased. The electrical repair room has also been rescuing and repairing items including mobility scooters which are sold on to users at an affordable price.
Another local charity kindly donated a pool table to the Shed and we have taken the opportunity to rearrange the toilets to construct a games room for the table and darts as well adding an additional toilet with improved disabled access.
Financial review
Incoming resources totalled £23,166 whilst resources expended amounted to £17,591, therefore the charity recognised net income of £5,575.
Funds at the balance sheet date totalled £28,335.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity'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.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
ORKNEY MEN'S SHED
A SCOTTISH CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
Structure, governance and management
The charity is a Scottish Charitable Incorporated Organisation governed under a written constitution. The trustees who served during the year and up to the date of signature of the financial statements were: (Appointed 9 January 2025) (Appointed 18 December 2024)
Trustees are appointed by the members at general meeting.
The organisation consists of members, who have the right to attend members' meetings and have certain powers under the constitution; and trustees, who hold regular meetings and generally control the activities of the charity.
The trustees’ report was approved by the Board of Trustees.
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ORKNEY MEN'S SHED A SCOTTISH CHARITABLE INCORPORATED ORGANISATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ORKNEY MEN'S SHED
| report on the financial statements of the charity for the year ended 30 June 2025, which are set out on pages 4 to 12.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the financial statements in accordance with 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 Charities Accounts (Scotland) Regulations 2006. 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 seeking 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 | 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:
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(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
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(ii) to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
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have not beer or
(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the ached.
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Kirkwall
Orkney
KW15 1HP
is
Dated: AVL? —
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ORKNEY MEN'S SHED
A SCOTTISH CHARITABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||
| Notes | £ | £ | £ | £ | £ | £ | |
| Income from: | |||||||
| Donations and legacies | 3 | 21,264 | 1,902 | 23,166 | 19,360 | 2,861 | 22,221 |
| Total income | 21,264 | 1,902 | 23,166 | 19,360 | 2,861 | 22,221 | |
| Expenditure on: | |||||||
| Charitable activities | 4 | 17,185 | 406 | 17,591 | 14,729 | 1,201 | 15,930 |
| Total expenditure | 17,185 | 406 | 17,591 | 14,729 | 1,201 | 15,930 | |
| Net income | 4,079 | 1,496 | 5,575 | 4,631 | 1,660 | 6,291 | |
| Transfers between | |||||||
| funds | - | - | - | 3,660 | (3,660) | - | |
| Net movement in | |||||||
| funds | 5 | 4,079 | 1,496 | 5,575 | 8,291 | (2,000) | 6,291 |
| Reconciliation offunds: | |||||||
| Fund balances at 1 July | 2024 | 22,754 | 6 | 22,760 | 14,463 | 2,006 | 16,469 |
| Fund balances at 30 June | |||||||
| 2025 | 26,833 | 1,502 | 28,335 | 22,754 | 6 | 22,760 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
ORKNEY MEN'S SHED
A SCOTTISH CHARITABLE INCORPORATED ORGANISATION BALANCE SHEET
AS AT 30 JUNE 2025
een
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | = | £ | ||
| Fixed assets | ||||||
| Tangible assets | 8 | 8,898 | 8,987 | |||
| Current assets | ||||||
| Debtors | 9 | 23 | 21 | |||
| Cash at bankand in hand | 19,414 | 15,664 | ||||
| 19,437 | 15,685 | |||||
| Creditors: amounts falling due within | 10 | |||||
| one year | - | (1,912) | ||||
| Net current assets | 19,437 | 13,773 | ||||
| Total assets less current liabilities | 28,335 | 22,760 | ||||
| The funds ofthe charity | ||||||
| Restricted income funds | 11 | 1,502 | 6 | |||
| Unrestricted funds | 12 | 26,833 | 22,754 | |||
| 28,335 | 22,760 |
The financial statements were approved by the trustees on ot -Fe
Trustee
ORKNEY MEN'S SHED A SCOTTISH CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
a 1Accounting policies
Charity information
Orkney Men's Shed is a Scottish Charitable Incorporated Organisation.
1.1 Accounting convention The financial statements have been prepared in accordance with the charity's written 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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
- 1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. 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 charity 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 charity 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.
Income from fundraising activities is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business.
1.5 Expenditure Expenditure is recognised on an accruals basis asa liability is incurred, and includes any VAT which cannot be recovered.
Expenditure on charitable activities comprises those costs incurred in the delivery of the charity's activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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ORKNEY MEN'S SHED A SCOTTISH CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 ee 1 Accounting policies (Continued)
- 1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:
Leasehold improvements straight line over lease term Plant and equipment 33% straight line basis
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.
1.7 Impairment of fixed assets
At each reporting end date, the charity 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 charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at 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 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.
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ORKNEY MEN'S SHED A SCOTTISH CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction 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.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |||
| £ | £ | £ | £ | £ | £ | |||
| Donations | and | gifts | 21,264 | - | 21,264 | 19,360 | - | 19,360 |
| Grants | - | 1,902 | 1,902 | - | 2,861 | 2,861 | ||
| 21,264 | 1,902 | 23,166 | 19,360 | 2,861 | 22,221 |
ORKNEY MEN'S SHED A SCOTTISH CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
4 Expenditure on charitable activities
5
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|||||||||
|---|---|---|---|---|---|---|---|
|Provision|of|Provision|of|
|facilities|facilities|
|2025|2024|
|£|=|
|Direct|costs|
|Depreciation|and|impairment|3,802|2,740|
|Other|overheads|13,789|13,190|
|17,591|15,930|
|Analysis|by fund|
|Unrestricted|funds|17,185|14,729|
|Restricted|funds|406|1,201|
|17,591|15,930|
|Net|movement|in|funds|2025|2024|
|£|£|
|The|net movement|in|funds|is|stated|after|charging/(crediting):|
|Fees|payable|for the|independent|examination|of the|charity's|financial|
|statements|«|Ps|
|Depreciation|of owned|tangible|fixed|assets|3,802|2,740|
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6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
The average monthly number of employees during the year was:
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|---|---|---|
|2025|2024|
|Number|Number|
|Total|-|-|
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There were no employees whose annual remuneration was more than £60,000.
ORKNEY MEN'S SHED A SCOTTISH CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
8 Tangible fixed assets
| 8 | Tangible fixed assets | |||
|---|---|---|---|---|
| Leasehold | Plant and | Total | ||
| improvements | equipment | |||
| £ | £ | £ | ||
| Cost | ||||
| At 1 July2024 | 6,854 | 11,402 | 18,256 | |
| Additions | - | 3,712 | 3,712 | |
| At 30 June 2025 | 6,854 | 15,114 | 21,968 | |
| Depreciation and impairment | ||||
| At 1 July 2024 | 902 | 8,366 | 9,268 | |
| Depreciation charged in the year | 685 | 3,117 | 3,802 | |
| At 30 June 2025 | 1,587 | 11,483 | 13,070 | |
| Carrying amount | ||||
| At 30 June 2025 | 5,267 | 3,631 | 8,898 | |
| At 30 June 2024 | 5,952 | 3,035 | 8,987 | |
| 9 | Debtors | |||
| 2025 | 2024 | |||
| Amounts falling due within one year: | £ | £ | ||
| Prepayments and accrued income | 23 | 21 | ||
| 10 | Creditors: amounts falling due within one year | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Tradecreditors | - | 1,912 |
11. Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 July 2024 | Incoming | Resources | Transfers | At30 June | |
|---|---|---|---|---|---|
| resources | expended | 2025 | |||
| £ | £ | £ | £ | £ | |
| Subscription toZoom | 6 | - | - | - | 6 |
| Airsource heating | - | 1,125 | - | - | 1,125 |
| Internet upgrade | . | 777 | (406) | - | 371 |
| 6 | 1,902 | (406) | . | 1,502 |
ORKNEY MEN'S SHED A SCOTTISH CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
| 11. | + | Restricted funds | (Continued) | (Continued) | |||||
|---|---|---|---|---|---|---|---|---|---|
| Previous year: | At 1 | July 2023 | Incoming | Resources | Transfers | At 30 | At 30June | ||
| resources | expended | 2024 | |||||||
| £ | i | £ | £ | £ | |||||
| Subscription toZoom | 6 | - | - | - | 6 | ||||
| New heating system | 2,000 | - | - | (2,000) | - | ||||
| Roller doorwork | - | 1,201 | (1,201) | - | - | ||||
| New ceiling costs | - | 1,660 | - | (1,660) | - | ||||
| 2,006 | 2,861 | (1,201) | (3,660) | 6 |
The charity operates a restricted fund for acquiring a new air source heating system, arising from a grant received in the year ended 30 June 2025 and not yet expended.
The charity operates a restricted fund for upgrading its internet system, arising from a grant received in the year ended 30 June 2025 and not yet fully expended.
12 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 July 2024 | Incoming | Resources | Transfers | At30June | |
|---|---|---|---|---|---|
| resources | expended | 2025 | |||
| £ | £ | £ | £ | £ | |
| General funds | 22,754 | 21,264 | (17,185) | - | 26,833 |
| Previous year: | At 1 July 2023 | Incoming | Resources | Transfers | At30June |
| resources | expended | 2024 | |||
| £ | £ | £ | £ | £ | |
| General funds | 14,463 | 19,360 | (14,729) | 3,660 | 22,754 |
| Analysis of net assets between funds | |||||
| Unrestricted | Restricted | Total | |||
| funds | funds | ||||
| 2025 | 2025 | 2025 | |||
| £ | £ | £ | |||
| At 30 June 2025: | |||||
| Tangible assets | 8,898 | - | 8,898 | ||
| Current assets/(liabilities) | 17,935 | 1,502 | 19,437 | ||
| 26,833 | 1,502 | 28,335 |
13 Analysis of net assets between funds
ORKNEY MEN'S SHED
A SCOTTISH CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
ee
13 Analysis of net assets between funds (Continued)
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | ||
| 2024 | 2024 | 2024 | |
| £ | £ | £ | |
| At 30 June 2024: | |||
| Tangible assets | 8,987 | - | 8,987 |
| Current assets/(liabilities) | 13,767 | 6 | 13,773 |
| 22,754 | 6 | 22,760 |
14 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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