**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.
Page 2
7RUSTESS' AESWBIUTrg STATEIIEWT
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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
- to prepare accounts which accord with the accounting records and comply with Regulation 9 of
- the Accounts Regulations have not been met; or
- (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**|
Page 5
## **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**|
Page 7