REGISTERED CHARITY NUMBER: SC047323
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025
FOR
CROMARTY FIRTH MEN'S SHED
Goldwells Ltd IO Knockbreck Street Tain Ross-Shire IV19 IBJ
CROMARTY FIRTH MEN'S SHED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025
| Page | |
|---|---|
| Report of theTrustees | |
| Independent Examiner's Report | 2 |
| Statement ofFinancialActivities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5to 9 |
| DetailedStatement ofFinancial Activities | 10 |
CROMARTY FIRTH MEN'S SHED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2025
The trustees present their report with the financial statement of the charity for the year ended Sth April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repolting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
$C047323
Independent Examiner
Goldwells Ltd
IO Knockbreck Street Tain Ross-Shire IV19 !BJ 2O'Jv'-'T' t? 2.6 | Or of the board oftrustees OM ...........00.0..eeeeeeeeeeeeeee- Sd S,gned on its behalf by,
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CROMARTY FIRTH MEN'S SHED
I report on the accounts for the year ended 5th April 2025 set out on pages three to nine.
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 Tmstee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's tmstees consider that the audit requirement of Regulation l 0( l)(a) to (c) 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 the independent examiner's report
My examination was carried out in accordance with Regulation I I 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 :
- (I) which gives me reasonable cause to believe that, in any material respect, the requirements
to keep accounting records in accordance with Section 44(])(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 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.
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Goldwel\s Ltd IO Knockbreck Street Tain Ross-Shire IVI 9 lBJ
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CROMARTY FIRTH MEN'S SHED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2025
| 2025 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,557 Other trading activities 2 2,263 -- Total 4,820 -- EXPENDITUREON Raising funds 4,233 Charitable activities Support Group 2,475 Total 6,708 NET INCOME/(EXPENDITURE) (1,888) RECONCILIATION OF FUNDS Total funds brought forward 13,347 TOTAL FUNDS CARRIED FORWARD 11,459 |
2024 Total funds £ 1,286 1,205 -- 2,491 5,694 4,165 9,859 |
|
|---|---|---|
| (7,368) 20,715 13,347 ---- |
The notes fonn part of these financial statements
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CROMARTY FIRTH MEN'S SHED
BALANCE SHEET
5TH APRIL 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 6,788 | 6,184 |
| CURRENT ASSETS | |||
| Cash at bank and in hand | 5.091 | 7.523 | |
| CREDITORS | |||
| Amounts fallingduewithin oneyear | 6 | (420) | (360) |
| NET CURRENT ASSETS | 4,671 | 7,163 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 11,459 | 13,347 | |
| NET ASSETS | 11,459 | 13 347 | |
| FUNDS | 7 | ||
| Unrestricted funds | 11,459 | 13,347 | |
| TOTALFUNDS | 11,459 | 13,347 |
The financial state.m Ints were approved by the Board of Trustees and authorised for issue on Sa 2 Se | @ /. >. and were signed on its behalf by:
The notes form part of these financial statements
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CROMARTY FIRTH MEN'S SHED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025
I. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective I January 2019)', Financial Reporting Standard I02 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention.
lncome
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTlVITIES
| OTHER TRADINGACTlVITIES | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Fundraising events | 2,263 | 1,205 |
continued...
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CROMARTY FIRTH MEN'S SHED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2025
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5th April 2025 nor for the year ended 5th April 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5th April 2025 nor for the year ended 5th April 2024.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 1,286 |
| Other trading activities | 1,205 |
| Total | 2,491 |
| EXPENDITURE ON | |
| Raising funds | 5,694 |
| Charitable activities | |
| Support Group | |
| 4,165 | |
| Total | 9,859 |
| NET INCOME/(EXPENDITURE) | (7,368) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 20,715 |
| TOTAL FUNDS CARRIED FORWARD | 13,347 |
| -- -- |
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continued...
CROMARTY FIRTH MEN'S SHED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5TH APRIL 2025
| 5. TANGIBLE FIXED ASSETS Fixtures Plantand and Computer machinery fittings equipment £ £ £ COST At6thApril 2024 9,827 475 1,289 Additions 2,760 At 5th April 2025 12,587 475 1,289 DEPRECIATION At6th April 2024 4,520 171 716 Chargeforyear 1,905 61 190 At5th April 2025 6,425 232 906 NET BOOKVALUE At 5th April2025 6,162 243 -- 383 -- At5thApril2024 5,307 304 573 -- 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR 2025 £ Other creditors 420 7.MOVEMENT IN FUNDS Unrestrictedfunds Unrestricted Net movement At6.4.24 in funds £ £ 13,347 (1,888) -- -- TOTAL FUNDS 13,347 (1,888) -- Netmovement in funds,included in theabove are as follows: Incoming Resources resources expended £ £ Unrestricted funds Unrestricted 4,820 (6,708) TOTAL FUNDS 4,820 (6,708) -- -- |
Totals £ 11,591 2,760 14,351 5,407 2,156 7,563 6,788 -- 6,184 -- 2024 £ 360 At 5.4.25 £ 11,459 |
|---|---|
| 11,459 -- Movement in funds £ (1,888) (1,888) -- |
continued...
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CROMARTY FIRTH MEN'S SHED
NOTES TO THE FINANCIAL STATEMENTS � continued FOR THE YEAR ENDED 5TH APRJL 2025
7. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
| Net movement At 6.4.23 in funds £ £ Unrestricted funds Unrestricted 20,715 (7,J68) TOTAL FUNDS 20,715 (7,368) Comparativenet movement in funds, includedinthe above are as follows: Incoming Resources resources expended £ £ Unrestricted funds Umestricted 2,491 (9,859) TOTAL FUNDS 2,491 (9,859) A current year 12 months and prioryear12 months combined position is as follows: Net movement At 6.4.23 in funds £ £ Unrestricted funds Unrestricted 20,715 (9,256) -- TOTAL FUNDS 20,715 (9,256) -- -- |
At 5.4.24 £ 13,347 -- 13,347 |
|
|---|---|---|
| Movement in funds £ (7,368) (7,368) -- At 5.4.25 £ 11,459 11,459 |
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continued...
CROMARTY FIRTH MEN'S SHED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 5TH APRIL 2025
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted | |||
| 7,311 | (16,567) | (9,256) | |
| TOTAL FUNDS | 7,311 | (16,567) | (9,256) |
| -- |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5th April 2025.
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CROMARTY FIRTH MEN'S SHED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2025
| FOR THEYEAR ENDED | 5THAPRIL2025 | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 1,757 | 1,286 |
| Grants | 800 | |
| 2,557 | 1,286 | |
| Other trading activities | ||
| Fundraisingevents | 2,263 | 1,205 |
| Total incoming resources | 4,820 | 2,491 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Insurance | 445 | 415 |
| Website | 44 | 138 |
| 489 | 553 | |
| Other trading activities | ||
| Purchases& Itemsfor Use | 1,587 | 3,195 |
| Depreciation of tangible fixedassets | 2,157 | 1,946 |
| 3,744 | 5,141 | |
| Charitable activities | ||
| Postageandstationery | 80 | 309 |
| Sundries | 50 | 148 |
| Trade Subscriptions | 80 | 20 |
| Generator Fuel | 1,232 | 1,072 |
| Memberships | 34 | 28 |
| Health andsafety | 25 | 2,000 |
| 1,501 | 3,577 | |
| Support costs | ||
| Information technology | ||
| Repairsandrenewals | 554 | 228 |
| Governance costs | ||
| Accountancy andlegal fees | 420 | 360 |
| Total resourcesexpended | 6,708 | 9,859 |
| Net expenditure | (1,888) | (7,368) |
| -- | -- |
This page does not form part of the statutory financial statements
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