CHARITY REGISTRATION NUMBER: SC047686 PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2025 RITSONS Chartered Accountants 26-30 Marine Pla Buckle Moray AB56 1 UT PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial ststements Detailed statement of financial activities 15 PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 MARCH 2025 The trustees present their report and the unaudited financial ststements of the charity for the year ended 31 March 2025. Reference and administrative details Reglstered charlty name Portsoy District Community Association SCIO Charlty reglstration number SC047686 Prlnclpal offlce The Pavilion Seafield Terrace Portsoy AB45 2QB Tho tru$t•as riesigned 3 September 2024) Resigned 25 June 20241 4esigned 26 May 2025) Qe5igned 8 July 2025) Appointed 25 October 2024) Appointed 30 November 2024) Independenl examlner 26-30 Marine Place Buckle Moray AB56 1 UT Structurei govemance and management The Constitution was approved and the Charity regEtered wrth The offi￿ of the Scottish Charities Regulator IOSCR) on 31st August 2017. Any of the Association's trustees appointed during Ihe financial year are re-appointed by the members at the Annual General Meeting, if they wish to stand for re*lection. In additicn. at each Annual General Meeting one third of the remaining trustoes are required to stand down but can put themselves fOn￿ard for r&election by the members. Membership at the end of the financial year was 25, including the charty's trustees. The current membership is 23. On a day-tQ-day basis the charity is run by the Board maJe up of the appointed trustees. PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO TRUSTEES. ANNUAL REPORT{continu•d) YEAR ENDED 31 MARCH 2025 Objectives and activities The charitable purposes are.. The SCIO'S purposes are to benefit the community of Portsoy and the surrounding area which comprises the postcode districts AB45 and AB56 (the "Community") through the provision of recreational facilities, and the organisation of recreational activities. with the object of improving the conditions of life for the residents of the Community.. but only to the extent that this purpose is consistent with furthering the achievement of sustsinable development. The charity owns the sports pavilion, all-weather surface court and car park and also manages the surrounding playing fields. which are owned and maintained by Aberdeenshire Council. The pavilion comprises a fully equipped gym, kitchenloffice area and changing facilits'es for the gym users and football team(s) that use the pitches. Achlevements and porfomiance One of the most significant on-going cha15enges has been to find enough volunteers to cover the various opening times. These are:. Monday - 09.00 - 12.00 .' 14.00 - 20.00 Tuesday - 17.00 - 20.00 Wednesday- 09.00- 12.00: 14.00- 20.00 Thursday- 17.00- 20.00 Friday- 09.00- 12.00.. 14.00- 20.00 Saturday 09.00- 12.00 Virtually 811 of these shifts are covered by regular volunteers and we also have a reserve of "As and When" volunteers that we can call on, if they are available, for uncovered shifts due to holidays etc. Nevertheless al times, especially during school holidays we rnay be unable to adhere to our advertised opening times. We increased our charges for Ihe use of the gym and for the f¢)otball pitcheslchanging rooms at the start of 2023 and decided to leave them substantially unchanged for 2024125. The only change was to increase the cost of a single session from £4 to £5. We regard our pricing structure as competilive with other facilities in the surrounding area and conlinue to have a large number of regular users. As an example, in the calendar year 2023 there were 3.650 user visits. averaging 70 visits per week. In the 2024 calendar year this had Increased to 4,395 user visits, with an average of 84.5 visits per week. Some of the equipment in the gym has been in use since it opened in 2004. Although all the equipment is professionally serviced on an annual basis. some pieces were at the end of their life. During the financial year we had to replace an Elliptical Cross Trainer as the "old" one was faulty, was out of warranty and couldn't be repaired in a timely fashion and the repair cost would have been very expensive. The replacement piece of equipment was purchased with the assistance of a granl from Aberdeenshire Council's Banff & Buchan Area Initiative Fund. In the current financial year replacement Leg CurllLeg Exlension machine was purchased to replace a similar machine which was 21 years old. We are hugely conscious of the benefits of healthy lifestyles and exercise, especially the impact on mental health and we shall continue to maintain and improve the facilities to retsin existing users and attract new users. PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO TRUSTEES. ANNUAL REPORT (contlnu•d) YEAR ENDED 31 MARCH 2025 Flnanclal revlew At the end of the financBI year we had a surplus 01 £14,920 (2024: £2,21yI). Cashflow remains positive and the trustees are regularly Updated on the charity's financial affairs at their board meetings. We continue to offer 3, 6 and 12 month memberships which gives users 24r7 access to the gym. Single sessions and 10 session cards ar• also available We know that offering a rang8 of pricing options has proved extremely attr2Ctive to our users. with Ihe 3 month membership proving to be very popular We have around 80 users wrth 316112 month memberships. The current charges are'.- Single Session - £5 10 Session Card - £30 3 Month Membership- £60 6 Month Membership- £120 12 Month Membershlp - £240 We shall keep our prices under review to ensure that we remain ccynpetitive with other providers in the area and also to ensure that we are able to cover our ongoing expenses We derive other income from group$ which use our changing facilities and the foctball pitches the latter being owned and rnaintained by Aberdeenshire Council Portsoy FC is now back as a ￿llY functioning team with regular training sessions and matches. We also continue lo host Moray & Banff Referee Association whose members occasionalty train with us, During the latter part of 2023 we looked at various ways to reduce our electricity costs and carbon footprint. The Trustees decided to look at installing solar panels on the roof along with a battery storage unit so that excess" electricity could be stored and used when the solar panels were not generating. This would reduce the electrlclty we pulled from the grld and thereby reduce our electrlclty sts. Funding fcr the 16 solar pan•ls and a battory storage unit was approvod by the Coastal Communiti•$ Chall8nge Fund in May 2024 and the installation of th• sotar panels and battery storase unit wa$ completed by the end of July 2024 Since then we have seen a reduction in the amount of e18Ctricity that we are using from the grid. The grant towards the cost was 90Dkn with the 100h balance coming from our own funds. An Energy Audrt, funded by Aberdeenshire Council and undertaken by M W Clubb was completed in May 2024 and Il Identified a wide range of work that we could do to reduce our carbon lootprint further ancl make the buildlng more energy efficient A follow-up "Retrofi't Strategy" was done by Coiieciive Archltectuie, again funiaed by Aberdeenshlre Councll. Thls was based on the prevlous Energy Audll bul came with costings. The value of all the suggested woik was Girca £300.000 but unfortunately there were no no financial benefits shown if we undertook any of the work. This makes it very difficult for us to approach potential lenders seeking funding for any of Suggested work. Maintenance. utility and other ￿$ts will no doubt continue to rise in the future W8 hav8 a n8w fixed price gas contract which expires in November 2027 and a fixed price electricity contract which expires at the end of February 2027. Our biggest single outlay s buildings and contents insurance at approximately £3k per annum. The trustees are extrernely grateful for the continued support of volunteers to man the gym ¢uring its opening hours Without their dedication and commitment we would not be In a pc>sltion to have the facilities available when most needed. as been re4ppointed as independent exarr¥ner for th8 8nsuring y88r. PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO TRUSTEES, ANNUAL REPORT{eontlnu•dl YEAR ENDED 31 MARCH 2025 Flnanclal revlew Icontln¢Md) Reservos Pollcy The unrestricted fvnds balance of £291,155 (2024. £286,959) less the fixed assets of £253,91512024'. £254,669) leaves a reseNes bakqnce of £37,240 (2024.. £32,290). The Trustees are sat￿fIed that this is a satisfactory reseNe. The Trustees have examined the ￿ quirement to maintain free reseThe$ and wncluded that the most appropriate level is a minimum of three months of operational expenditure. This is estimated al around £3,000 in the current year. The reseNes held are comfortably above this estimate. The trustees, annual report was approved on 27 - 011-.3.02.5.. and signed on behalf of the board of trustees by. PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO YEAR ENDED 31 MARCH 2025 I report to the trustees on my examination of the financial staterr￿ntS of Portsoy DiStr￿t Community Association SCIO ('the charity.) for the year ended 31 March 2025. Ro8ponslbllltl•8 and basls of report As the trustees of the charity you are responsible for the yeparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 Ithe '2005 Act,) and the Charities Accounts {Scotland} Regulations 2006 (as amended). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent exarnination. I report in respect of my examination of the chartty's financial statements as carried out under section 44(11{cl of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts Iscoiiand) Regulations 2006 (as amended). Indopendent examlner's •tatemont Since the charity has prepared its accounts on an accruals basis your examiner must be a member of body listed in Rogulalion 11(2> ol the Charities Acccunts (Scotlandl Regulations 20C6 (as amended) I can confirm that l am qualified lo undertake the examination because l am a registered member of ICAS which is one of the listed bodies. I have completed my examination. I confimi that no matters have come to my attenbon giving me cause to believe that in any material respect.. accounting records We￿ not kept as requlred by sectlon 44(1)(a) of the 2005 Act and Regulation 4 of the Charities Arxounls (Scolland) Regulations 2006 (as arnended), or the financial stalem•nts do not accord with those records: or the financial stslements do not compty with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as arrtnded). I have no concerns and have come across no Other matter5 hi connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 26-30 Marine Place Buckle Moray AB56 1 UT 2. q-2c2S PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 2025 Restricted funds ToL11 funds 2024 Unrestricted funds Total funds Note Income and endowments Donations and grants Other charitable activities Other income 1,000 19.023 117 13,454 14,454 19,023 117 2,000 18,555 Total income 20,140 13,454 33,594 20,559 Expenditure Expenditure on charitable activities Other expenditure Total expendlture 15,944 2,730 18,674 16,936 1,419 15.944 2.730 18.674 18.355 Not income and net movement in funds 4,196 10,724 14,920 2,204 Reconclllatlon of funds Total funds brought forward Total funds carried forward 286,959 4,744 291,703 289,499 291,155 15,468 306,623 291,703 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 13 forni part of these flnancial ststomonts. PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO STATEMENT OF FINANCIAL POSITION 31 MARCH 2025 2025 2024 Nots FIXED ASSETS Tangible fixed assets 12 269,383 259,413 CURRENT ASSETS Debtors Cash at bank and in hand 13 719 37,741 2.486 31,077 38,460 33,563 CREDITORS: amounts falllng du& wlthln ono year NET CURRENT ASSETS 14 1,220 1,273 37.240 32.290 TOTAL ASSETS LESS CURRENT LIABILITIES 306,623 291,703 NET ASSETS 306.623 291,703 FUNDS OF THE CHARITY Restricted funds Unrestricted funds 15,468 291.155 4,744 286,959 Total charlty funds 15 306.623 291.703 These financial statements were approved by the board of trustees and aulhorised fcr issue on ii: oF..:IL)QS., and are signed on behatf of the board by". Th• not•• on Pa£￿ 8 to 13 form part Of th￿0 financlal 8tatèm•nts. PORTSOY DISTRICT COMMUNITY ASSOCIATION SCIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 General Infomiation The charity is a public benefit entity and a registered charity in Scotland. The address of the principal office is The Pavilion. Seafield Terrace. Portsoy, AB45 2QB. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 102}} and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 {as amended). Account5ng po15cle8 Basls of preparatlon The financial statements have been prepa￿d on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in steding, which is the fvnckn'onal currency of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted lunds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tems of an appeal. and fall into one of two sub