Charity number: SC046751
INVERURIE YOUTH SPORTS FOUNDATION
TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
INVERURIE YOUTH SPORTS FOUNDATION
CONTENTS
| Page No. | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 |
| Trustees' responsibilities statement | 3 |
| Independent examiners report | 4 |
| Receipts and payments account | 5 |
| Statement of balances | 6 |
| Notes to the financial statements | 7 |
INVERURIE YOUTH SPORTS FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Charity registered number
SC046751
Principal office
Garioch Sports Centre, Burghmuir Drive, Inverurie, AB51 4GY
Independent examiner
, MMG Chartered Accountants, Chapelshade House, 78-84 Bell Street, Dundee, Scotland, DD1 1RQ
Page 1
INVERURIE YOUTH SPORTS FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report and financial statements for the period 1 January 2024 to 31 December 2024.
The financial statements have been prepared using receipts and payments method of accounting.
Objectives and activities
The charity's objects are:
-
to maintain and increase the participation of young persons in Olympic recognised sports in the Garioch area; and
-
to help with the 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.
Grants
The charity saw a decrease in the number of grants that were awarded to institutions and a slight increase to individuals. Overall the value of grants awarded has increased in comparison to the previous year. These were primarily to institutions where the charity has worked in conjunction with local organisations to deliver various projects to young athletes in the area.
The charity also continued to support their Active Fund in the year with more applications being received as a direct result of concerted efforts to make the funding more known and work more closely with local authorities to identify disadvantaged children with a desire to participate in local clubs with IYSF covering their membership fees. The trustees are delighted to see Active Fund expenditure increase from £1,726 in 2023 to £4,995 in 2024.
Financial review
The charity continues to be supported by local entrepreneur with additional funding being received in 2024.
It is the policy of the charity that unrestricted funds should be maintained at a level equivalent to between three and six months’ expenditure. Funds above this level represent the amounts that would be available for funding grant applications. Restricted funds are held separately and expenditure that falls within the criteria of the grant is allocated against the balance.
The charity provided grant funding totalling £104,299 (2023 - £80,318).
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.
Future plans
The trustees intend to continue to develop the charity's programmes of funding as enquiries and experience indicates. The trustees also intend to promote the charity online and through local press to ensure the funding we offer continues to be recognised and utilised by those who could benefit from it.
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INVERURIE YOUTH SPORTS FOUNDATION
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF INVERURIE SPORTS FOUNDATION
I report on the accounts of the Charity for the year ended 31 December 2024 which are set out on pages 5 to 7.
This report is made solely to the charity's Trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 11 of the Charities Accounts (Scotland) Regulations 2006. Our independent examination work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its Trustees, as a body, for our independent examination work, for this report, or for the opinion we have formed.
Respective responsibilities of trustees and examiner
The Charity's Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (the Act) and the Charities Accounts (Scotland) Regulations 2006 (as amended) (the Accounts Regulations). The Trustees consider that the audit requirement of Regulation 10(1) (a) to (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts 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 was carried out in accordance with Regulation 11 of the Accounts Regulations. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and
-
Regulation 4 of the Accounts Regulations; and
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of
-
the Accounts Regulations have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
MMG Chartered Accountants Chapelshade House 78-84 Bell Street Dundee Scotland DD1 1RQ Date: 30/09/2025
Page 4
INVERURIE YOUTH SPORTS FOUNDATION
RECEIPTS AND PAYMENTS ACCOUNT FOR YEAR ENDED 31 DECEMBER 2024
| Note RECEIPTS Donations Bank interest received Aberdeenshire Council Trade Widows Sport Scotland Returned grants TOTAL RECEIPTS PAYMENTS Postage, stationery, advertising and website costs Independent examiner fee Grants awarded 1 Athlete development programme costs Kit-for-all costs TOTAL PAYMENTS SURPLUS/(DEFICIT) FOR YEAR Reconciliation of funds: Total funds brought forward Surplus/(Deficit) for year |
Unrestricted funds for the year ended 31 December 2024 £ 200,769 2,292 - - - 4,993 208,054 937 624 104,299 - - 105,860 102,194 65,036 102,194 167,230 |
Restricted funds for the year ended 31 December 2024 £ - - - - 5,000 - 5,000 - - - 2,500 - 2,500 2,500 3,000 2,500 5,500 |
Total funds for the year ended 31 December 2024 £ 200,769 2,292 - - 5,000 4,993 213,054 937 624 104,299 2,500 - 108,360 104,694 68,036 104,694 172,730 |
Unrestricted funds for the year ended 31 December 2023 £ - 4,607 - - - 3,819 8,426 1,039 660 80,318 - 700 82,717 (74,291) 139,327 (74,291) 65,036 |
Restricted funds for the year ended 31 December 2023 £ - - 670 3,000 - - 3,670 - - - - 1,060 1,060 2,610 390 2,610 3,000 |
Total funds for the year ended 31 December 2023 £ - 4,607 670 3,000 - 3,819 |
|---|---|---|---|---|---|---|
| 12,096 1,039 660 80,318 - 1,760 |
||||||
| 83,777 | ||||||
| (71,681) | ||||||
| 139,717 (71,681) 68,036 |
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INVERURIE YOUTH SPORTS FOUNDATION
STATEMENT OF BALANCES FOR YEAR ENDED 31 DECEMBER 2024
| CASH FUNDS Cash and bank balances at start of year Surplus/(deficit) for year CASH AND BANK BALANCE AT END OF YEAR |
Funds for the year ended 31 December 2024 £ 68,036 104,694 172,730 |
Funds for the year ended 31 December 2023 £ 139,717 (71,681) 68,036 |
|---|---|---|
LIABILITIES
At 31 December 2024 the fees payable for the independent examination of the Charity’s accounts in respect of the 2024 financial year was £780 (2023 - £660) inclusive of VAT.
The financial statements were approved by the Trustees and signed on their behalf, by:
Dated:
The notes on page 7 form part of these financial statements.
Page 6
1. GRANTS AWARDED
| GRANTS AWARDED | ||
|---|---|---|
| Grants to 6 (2023 – 12) institutions Grants to 34 (2023 – 30) individuals Active fund TOTAL GRANTS PAID |
2024 £ 45,422 53,882 4,995 104,299 |
2023 £ 52,975 25,617 1,726 |
| 80,318 |
2. TRUSTEES
During the year, 2 (2023 – 1) of the trustees received recharged expenses totalling £284 (2023 - £140)
3. STATEMENT OF FUNDS Current Year
| Current Year | ||||
|---|---|---|---|---|
| Unrestricted funds General funds Restricted funds Athlete development programme Total funds Prior Year Unrestricted funds General funds Restricted funds Kit-for-all project Athlete development programme Total funds |
Balance at 1 January 2024 £ 65,036 3,000 68,036 139,327 390 - 390 139,717 |
Income £ 208,054 5,000 213,054 8,426 670 3,000 3,670 12,096 |
Expenditure £ 105,860 2,500 108,360 (82,717) (1,060) - (1,060) (83,777) |
Balance at 31 December 2024 £ 167,230 |
| 5,500 | ||||
| 172,730 | ||||
| 65,036 | ||||
| - 3,000 |
||||
| 3,000 | ||||
| 68,036 |
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