REGISTERED COMPANY NUMBLR: SC046959 IScotlAnd) REGISTERED CHAIUTY NUMBER: SC046959 REPORT OF THE TRUSTEES AND UNAiJDITED FINANCIAL STATEMENTS FOR THE YEAR Ef4DED 30 SEPTEMBER 2024 FOR SPEYFEST ASSOCIATION SCIO Ritsons Chartered Accountants 15 BoyE)die Str¢¢t Bdnff AB45 IDY
SPEYFEST ASSOCIATION SCIO CONTEIUS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Page Roport of the Trustees Independent Examlner's Report Statement of Finanelal Activities B#l#n¢e Sheet Notes to the Financial St#tsments 7 to 11 DetAlled StAtement of FinY4ncial Activitie5 12
SPEYFEST ASSOCIATION SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEYfEMBER 2024 The tnjstees who are alsts directors of the charity for the purposes of the Companie5 Act 2006, present their report with the finaTLcial 51atements of the charity for the year cnded 30 September 2024. Thc trust¢e$ have adopted the provi510tt$ of Accounting and Reporting by Charities: Srattment of Recomtnended Practice applicable to charitie5 prewing their a¢¢ounts in accordanG¢ With the Financial Report5ng Standard applicable in the UK and Republic of Ireland IFRS 102) (effecttv¢ l January 2019). OBJECTtVES ACTIVITIES Ob5ecttves and aiD]s The objeGtiv¢s of the charity arc to advance lh¢ education of th¢ public in the arts by promotion and OTgArtising a Pan- C¢ltic Festival in Fochaber5. at su¢h times and such venue5 8$ shall be detern)ined by the rh4rity. Therc bav¢ beetl no djanges itt objectives sinc¢ th¢ previous accounts wcrc compl¢t¢d. In ordET to athievc the objectjves of the charity the tn15tee5 shall undenake thc planning, management, promotion and production of the event as deiailed in the objectiv¢s. FINANCIAL REVIEW Revlew of the year The TtU5tee5 were pleased with the ouicome of the 2024 festival. Footfall was up signifiGanlly on 2023. reflective of the broad appeal of the artistic offering. Our team work¢d hard to prepaTe and deliver th¢ f¢5tival. whicb was exceptionally well r¢ceiv¢d by OUT audi¢nces. Planning is well underway for thc 2025 festival, which will continue to see new addition5 to the arristic programme arkd festiv31 events. We look forward to a wonderful weekend of music and entertainment. Fininelal Posltlon The lotai incomc in thc year was £233,722 (2023 - £193,822) witb the maitk 50ur¢es of in¢ome being generated ftom our charitable activitles. The ¢xpenditure amount to £208,31612023- £171,774}. The resulted in a surplus of £25.40612023- £22,048). At 30 September 2D24 the charity h8S total reserves of £124.713 (2023- £99,307), a]1 fund reserves were of an unre8trictcd nature. The tru5t¢¢s have assesscd the major risks to which the charity is ¢xposed. and are satisfied that gystems are in pla to mitigate ¢xposur¢ to the Jnajor risks. For exorupLe, the chlty is not immuoe to rising costs and inflation. The tst¢eS aiin to maintain suffjcient r¢5¢fV¢$ to bridge the gap b¢tw¢ett spending on tbe main festival on the programme. logi$tic$, security. piess attd pr(pmOtion etc and receiving funds from ticket 5alc5 and gTatJis. Reserves also held to cover cost5 of one-off ev¢nL% or expenditure incuried in fllrtherancc of the charity's objecttves. The tru$tees Consider that the current level ofreserves in exce55 of £20,000 is sufficient forthe puTposes of the charity. STRUCTUR4 GOVERNANCE AND MAf4AGEMENT Governing documeTLt Th6 charity is controlled by it5 goveTning document, a deed of trusL ond con$titytcs a limited companyj limif¢d by guarantee, a5 defJn¢d by the Comparties Act 2006. REFERENCE AND ADMINtSTRATtVE DETAILS Regi$tered Company number SC046959 (Scotland) Registered Chxrity Dumljer SCIM6959 Page I
SPEYFEST ASSOCIAoN SCIO REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 30 SEPTEMBER 2024 Rcgister¥d ffIcE 5 Ashley Park f*orth Aberd¢en AB106SF Tru%iL'C Ihdependcllt Eiaminer Igons CharteT¢d A¢Gountants 15 BoynJi¢ Street Banft A845 IDY Ll .0.A]L.....lo.16..... Approved by ordtr of the board of twstees on... . attd signed on its behalf by.. Page 2
INDKPLNDL,YT EXAMINER'S REPORT TO THE TRUSTEES OF SPEYFEST ASSOC.IATION SCIO Ind¢p¢Ddent txAminer'5 report ts the trustees of Speyfest As$oci9tion SCIO I'tbe CompAnJ') I rcport to tho charity trusiees on my eXal2110 of Ihc accouDts of the Company forthe year ¢nded 30 Septcmber 2024. R¢$ponsibillties and basls of report As Ihu charily'.% tru%tee% tsf the Company lat also its dircctors for thc pury)oses of company law) you are re5pon$ible for the prtpar8tioD of the accouTLtB in >danceIkth the z¢quir¢ments of thc CoTnpanie$ Act 2006 (Ihe 2006 A¢t'l. Having satisfied myseifthat the ae¢ounts of the Company &re not reqllired lo be audited under Parl 16 of the 2006 Acl and ar¢ ¢ligible for indepet)d¢nt examination, I report in respe¢t of my cxamination of yout ch8tity's accounts as carried out under Section 145 of thc Charilics Aci 2Ql I I'the 2011 Act'l. In caltig out my examination I hÈv¢ follLvcd the Dir¢¢iitsD% Kivejj by the Clwity Couuytission under Scction 14515) {b} of th¢ 2011 A¢t. Independent ey&miner 5 5titement have compleied my examinalii)n. I confirni that no matt¢rs have corn¢ to my atiention in coD]Jectson with the ¢KaminxtiOD 8IVITi8 me cause w beli¢v¢.' accoullting r¢¢ords were not kept in r¢spect of the Company 85 required by Section 386 of the 26 Acl; or the accounts do not accord with those record8. or the accounts do not ¢omply with the accounting requircjnents of S¢Gtion 396 of tb¢ 2006 A¢t othcr than any rcquircmcnt ihat tl)c accounts give a trne alld fair view which 18 not a 4¢¢¢[ ¢ODsidered as part of an itidependenÉ ex8minatiott' or the account5 have not been prepared in a¢coidknce with the methods and prirtLiple8 of tl)e Stsiement of Reeommended Practice for aLcounlinu #nd T¢POrting by ch&rities lapplirable to oharities prcparing their accounts in accordall¢¢ with th¢ Financial Reporting Sizndard applicabl¢ in the UK and Repubknc of IrFlwd IFRS 102)). I have llo cOrLCen and have come across no other matters in cotttteciion with the txaminaiion io whi¢h attention should be drawn in this report in order to Enable a proper und¢rst8ndin8 Df the accounts to be reached. Rilsons Chartered Accouniants 15 BoyDdi¢ Street Banff AB45 IDY Pag¢ 3
SPEYFEST ASSOCIATION SCIO STATEMENT OF FINANCIAL ACTIvlEs FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Total funds UnrestrÉcted Notes COME AND ENDOWMENfs FROM Chgritable let1ties Speyfest 126,558 95,285 Othertrading activities Investment incomE Total 105.885 1.279 233.722 98,059 478 J93,822 8XPENDITURE ON Raising funds 32,979 28.552 Charitable Actlvities Speyfest Total 175.337 208,316 171774 T tNCOME 25.406 22,048 RECONCILIATION OF FUNDS Total funds brought forward 99,307 77,259 TOTAL FUNDS CARRIED FORWARD 124713 99,307 The note5 form part of these financia5 statements PY4ge4
SPEYFEST ASSOCIATION SCIO BALANCE SHEET 30 SEPTEMBER 2024 2024 Umrestricted rund 2023 Total Note5 FIXED ASSETS Tangiblc assets 271 339 CURREP4T ASSETS Sto¢ks Debt015 Cash at bank and in hand 2.522 2.696 9.132 89,719 101547 125.975 128,497 CREDITORS Amount5 falling du¢ within one year io (4,0551 {2,5791 NET CURRENT ASSETS 124,442 98,968 TOTAL ASSETS LESS CURRENT LIABILITIES 124,713 99.307 NET ASSETS FUNDS Unrestricted funds TOTAL Fuf4DS 124.713 99.307 124.713 124.713 99,307 99,307 The charitable Company is entitled to exemption frojn audit under S¢¢uon 477 of th¢ Companies Act 2006 for the year ended 30 Septembcr 2024. The members hav¢ not requir¢d the company to obtain an audit of its finan¢ial statements for the year ended 30 S¢pt¢Tnb¢r2024 in accordancc with Seetion 476 of the Companies Art 2006. The tru81¢¢5 aGknowl¢dge their responsibilities for (al ensuring thal the charit2ble eompany keep5 a¢counting record8 that comply wilh Section5 386 and 387 of the Companies Act 2006 and PT¢paring finatjcial statements which give a trlle and fair vi¢w of the 5tatc of &ffairs of the tharitabl¢ cotnpany as at thc end of each financial year and of its surplus or deficit for ¢ath finallrial year in accordance with the iequiietnents of Sections 394 and 395 and whirh oth¢TWiS¢ colliply with the rqwrements of the CoTnpaniEs Act 2006 relaiing to finartcial statements. so far a5 applicable to the charitabl¢ ¢ompany. (bl The ttotes fomi part of these financial statements Pa8¢ 5 continu¢d...
SPEYFEST ASSOCIATION SCIO BALANCE SHF.ET- tontinutd 31) SEPTEMBER 2024 Thcsc financial stgtem=nts have b¢en PTcpar¢d ill &c¢ordat with th¢ provi¥ions applicable to charitsble comp&Die$ subj[ to the small companies rcgime. The fiThancial stslernent3 wer¢ approved by the Board of TSte¢S 2nd authoriseAI for i8suc on ...tl .......ts.. to t[... and wcre 5ign¢d OEL its bchalf by.. The notes form part of thcs¢ fjnancial ststements Page 6
SPEYFEST ASSOCIATION SCIO P40TES TO THE FINANCIAL STATEkMETrrfs- Continued FOR THE YEAR ENDED 30 SFPTEMBER 2024 OTHER TFL4DING ACTIVITIES 2024 2023 B2r sales Sponsorships Raffle. mcrehandising & ¢rnft fair income 51,482 34,286 20,117 105 885 45,432 32595 20,032 98.059 INVESTMENT ]NCOME 2024 2023 Itktere5t re¢¢ivable- tsadsng 478 NET INCOMEI(EXPENDITURE) Net incomel(exp¢nditure) is stated after chargingl(¢rediting)'. 2024 2023 Depreciation- owned asset 68 85 TRUSTEES, REMUNERATJON AND BENEFITS There were no tn]stee5' retnuneration or other benefjts for the year ended 30 September 2024 ttor for the year ended 30 September 2023. TRUSTEES, EXPENSES There We no trustees, expcnses paid for th¢ y¢8r ¢nd¢d 30 S¢pleber 2024 nor for the year ended 30 S¢pt¢mber 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AfllVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Charitable Activities Sp¢yfe5t 95,285 Other trading activities InvestmeAI intome Total 98,059 478 193 822 EXPENDITUHI Oly Raising fiTrnd5 28.552 Ch#ritable activitie5 Speyfest Total 143222 171,774 Page 8 continued...
SPEYFEST ASSOCIATION SCIO OTES TO THE FIliANCIAL STATEMENTS- ContIned FOR THE YEAR ENDED 30 SFYfEMBER 2024 COMPARATIVES FOR THE STATEMEliT OF FINANCIAL AcfIviTJES- contlllued Uurestrlcted futtd NET INCOME 22.048 RECONCILIATION OF FUNDS Total fund5 brought forward 77,259 TOTAL FUNDS CARRIKD FORWARD 99,307 TANGIBLE FIXED ASSETS Plant and ma¢hiDery Computer equipent Totals COST At l October 2023 and 30 Sq>tember 2024 DEPRECIATION At l October 2023 Charge fory¢ar At 30 September 2024 NET BOOKVALUE At 30 Septemb¢i 2024 At 30 September 2023 1,767 424 1,767 85 68 153 1,852 68 1,920 1.767 271 339 271 339 STOCKS 2024 2023 Stocks 2.696 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments and accrucd income 4,327 Page 9 continued...
SPEYFEST ASSOCIATION SCIO NOTES TO THE FJNLNCIAL STATEMENTS- tolltinued FOR THE YEAR ENDED 30 SEPTEMBER 2024 io. CREDITORS: AMOUP4TS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Accn]als and d¢ferred itwm¢ 2,856 1.199 2.579 2,579 ii. MOVEMENT FUNDS Net movemeDt n fund$ At 1.10.23 30.9.24 Unrestrlcted funds Gen¢ral fi]nd 99,307 25.4116 124.713 TOTAL FUYI DS 124713 Net mov¢ment in funds. included in the above are as follow5.. Incoming resources Resourtes tIpended Movement Ill fullil$ Utlrestrltted funds G¢neral fund 233,722 1208.316) 25.406 TOTAL FUNDS 233,722 208.316 Comparatlv¢$ for rnovement In funds Net movemeDt In funds At 1.10.22 At 30.9.23 Unrestricted funds General fvnd 77,259 21048 99J07 TOTAL FUNDS 22,048 Pa8¢ 10 ontinued...
SPEYFEST ASSocOr4 scro NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 30 SEPTEMBER 2024 MOVEMENT IN FUNDS- eontinued Comparative net mowement in funds, included in the above are as follows- ID¢omlng re50urtes Resources expended Movement in funds Unrestrided fund5 General filnd 193,822 (171,7741 22,048 TOTAL FUNDS 193 822 171,774 22,048 A current year 12 month5 and prior year 12 months combincd position is 2$ follows.. Net movemellt In funds At l.lQ.22 At 30.9.24 Unre5trlcted fwids GetLeTal fund 77,259 47,454 124,713 TOTAL FUYDS 77,259 47.454 124.713 A current year 12 months and prior year 12 months ¢ombined net rllovement In fund5, included in the above are a5 follow$: Intoming resourees Resourc ¢Jp¢nded Movement In funds Unrestrieted funds G¢n¢ral fid 427,544 (380.0901 47.454 TOTAL FUTr4DS 427,544 380,090 12. RELATED PARTY DISCLOSURES Th¢Te were no disclosable rela¢edparty transaction$ during the year (2021 none). Pagell
SPEYFEST ASSOCIATION SCIO DETAILED STATEMENT OF Fif4ANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Other trading a¢tivitits Bar sales Sponsorships Raffle. rnerthandissng & craft fatr income 51,482 34.286 20,117 105,885 45.432 32,595 20.032 98,059 Investment income Int¢r¢st rcceivable- trading 1279 478 Charltsble #¢thtie5 Ti¢kets sales Grants 116,558 10,000 126558 233,722 95,285 Tot41 Incoming re50ur¢e$ 193.822 EXPENDITURE Otber tradthg actlvltl Bar costs Merchandise & ¢roft fair ¢OSt5 24,785 8,194 31979 19,287 28.552 Charitable acttte5 Perfiirni¢rs and 50und Insurance Lo¥istics & security Licences Sundries Advertising Comput¢requipment 84.303 2,511 64.281 3,132 3,448 15,603 68 173,346 69,030 1.159 52,638 2.434 2.128 13.817 85 SupportC05ts Finance Bank charges 879 491 CovernAttte costs Accountancy and legal fees Total re50urce5 expended Net Ineome 1,440 171,774 22,048 208.316 25,406 This page doe5 not fornipart of the statutory flnancial $tat¢ments Page 12