CHARITh REGISTRATION NUMBER: SC048459 Friends of the Fishermen's Hall Unaudited Financial Statements 31 March 2024 RITSONS Chartered accountants 26-30 Marine Place Buckle Moray AB56 1 UT
Friends of the Fishermen's Hall Financial Statements Year ended 31 March 2024 Page Trustees, annual report Sndependent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not forni part of the financial statsments Detailed statement of financial activities 14 Notes to the detailed statement of financial activities 15
Friends of the Fishermen's Hall Trust•ès' Annual Report Year ended 31 March 2024 The trustees present their report and Ihe unaudited financial statenEnls of the thanty for the year ended 31 March 2024. Ref8rgnc8 and •dmlnlstr¥tlve detsii• R¢gl¥t¢red ¢h•rlty n•m• Friends of the Fishenren's Hall Charlty roglstratlon number SC048459 Prlncipal offlc• 16 North Pringle Si Buckle Moray Th• Iruiteeg Indepondent •xamln•r Structuro, govwn•n¢• and man4g•m•nt The hall is managed by Ihe Trustees and is operaled by them on a voluntary basis. The Trustees are 9uided by the Chairman and ¢lh*r •l•¢led members through app)inlrrenl at AGM or by co-oplion. Obloctlvè• and •ctlvltl•8 The organisalion has been formed to benefit the ¢ommunity of Buckle and district to any individual who is currently a resident in the postcode area AB&fj. The purwse 1$ lo kyovide and advan Ihe a¢¢e$sibility of fecrealional facilities, by owning, managing and maintaining the FBhermen's Hall. Bu¢kie.
Friends of the Fishermen's Hall Trustee•. Annual Rèport Icontinu•d) Year ended 31 March 2024 Achievement8 and perforniance The Trustees whi15t smaller in number continue lo develop and take forward the stewardship of the Fishermen's Hall as the second largest pU1C space in Moray after Elgin Tcpwr, Hall. In Ihe last year we have lost the serwtts of the Hall Cc Crri.-a-_r ry,)wever after a period of time he has been repEad and the post has been taken on by ne of our Trustees who has steppèd down frorn that du8 lo t8kin9 Qn the paid post of Hall Co Ofd.,natorbrlrt9$ a knowledge of the trust as well as a host of management and businass sci115 which are sknpportirKJ the continuing development of the hall with users and events In 23f24 the fvjther redecorats'on of the main hall was undertaken, the refurb ol t Ladies and gents toilet corridor and loilels. including new hand dryers etc. New stage lighting is in the process of being purchased lo enhance provision lor performances and shcws elc. Soundproofing and roof works completed along the front faeing wall of the hall lo redu disturbances lo neighb¢uring propeeS during events In the hall. The roots at the rear of the hall and above ihe stage were repointed an¢ given a refresh following IngreSSn of warer during some ol t storms experien¢e¢ last year. We havè incr8a$8d the number of nBjor events, artists. weddings, dances In the last finan¢ial year •nd continue lo build on the success of the hall for the coming season. The small group usage continues and we were delighted last '/ear to receive funding for a small cinerna club as well as subslantsal funding for 3 youth club Due to staffing and other legal steps we did not manage lo gel these operational last year bul we ready to go this year and IoDk forward to welcoming more diversified users into our hall. Vve continue to support across the community and we welcome all enquiries for access tD our community spa. Vve are posilwe that the growth of 23124 will continue lo uplrft us as we make our way through 24,'25. We would like to thank all our trustees, employees, s4PPOrters. users arHJ Ihe wider community for their ongoiffj comnient lo Ihe Nall. Financial revipw As at 31 March 2024 the chanty unStrICted funds of £30.14712023.' £35.4391 The Iruslees. annual repjrt was approved on . .AuliilLu....... and signaj on behaff of the board ol IrLlS;eos by.
Friends of the Fishermen's Hall Independent Examiner's Rèport to the Trustees of Friends of th• Fishernien's Hall Year ondod 31 March 2024 I report on the financigl st3tements for the year ended 31 2024. whh comprise the statement of financial activities, statement of ffinanual positK)n and the rdated notes. Respectlvè rnsponsibllltles of trustee8 and examlner The charity's Irustees are responsible for the preparaD"on of the accounts In acccycfance wlth the term5 of the Charities and fru5tee InvestrTpnt (Scotlandl Act 2005 and the Charities kGOUllts {Scotlandl Regulations 2006. The Gharity trLtstees consider that the audit requirement of Regulation 1011 Ila) t¢ Ic) of the 2006 Ac¢ounts Re9ulations does not apply It Is my responsibility to examine the a¢Unts as required under section 4411 Ilc) Df the Act and to state whether particular matters have come to my attention. Ba818 of Ind•pendont examinerfs report My examination is Carried out in accordance with RegulatiC 11 Df the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a ¢¢rnparison of the accounts presented wilh those record5. It also Includes consioeration of any unusual rtems OT disclosures in the acwunls. an(J seeks explanaiions from the trusiees conceming any such matters. The proGedures undertaken do not provide all the evidence Ihat would be required in an auijil and nsequenlly I do not expres¥ an audrt cpinion on the view given by the aGcounts. Ind&p&ndènt •xarnln•es $tatement In connection with my examination, no matter has corne 10 my attention.. 11) which gives me reasonable cause to believe Ihat in any material respect the requirements.. lo keep accounting Tecords in accordance with section 4411I{al of the 2005 Act and ReguLalion 4 of the 2W6 Ac¢wnts ReguL4tDn5. and to prepare accounts which accord with the accounting records and comply wrth Regulation 8 01 the 2006 Accounts Regulations have not been met. or 121 to which. in my opinion. attention should be drawn in order lo enable a proper understanding of the accounts lo be reached.
Friends of the Fishemien's Hall Statement of Financial Activities Year ended 31 March 2024 2024 Reslri¢led fun¢Js Total funds 2023 Unrestricted funds Total funds Income and endowments Donations and legacies Other trading activities Other income 42,690 42,690 47.374 467 27.448 50,428 47,374 467 Total Income 47.841 42,690 90.531 77,876 Expendlture Expenditure on charitsble activities Total expendlturn 40,139 42,171 82,311 94.752 40,139 42,171 82,311 94,752 Net incomel{expgnditurel 7.702 519 8,220 116,8761 Transfers betsveen funds 112,9941 12,994 Net movement In funds 15,2921 13.513 8.220 {16.876) Reconclllatlon of funds Total funds brought forward Total funds carried fop4vard 35.439 5.177 40.616 57,492 30.147 18.690 48.837 40,616 The slalement of financial activities includes all gains and losses recognised in the year All income and expenditure derive from contsnuing activities. The notss on pages 6 to 12 fomi part of these financial 8tatem•nts.
Friends of the Fishermen's Hall Statemènt of Financial Position 31 Mareh 2024 2024 2023 Nots Flxed as8•ts Tangible fixel assets 11 12,046 13,872 Curr¢nt ass8ts Debtors Cash at bank arKi in hand 12 3,733 41,829 4,049 29.513 45,562 33.562 Cr•dltorn." amounts falllng due wlthln one year Net current as¥•ts 13 8,771 6,818 36,791 26.744 Total assets l¢•• ¢urrent Il•blllll 48,837 40,616 Funds of the charfty Reslricled funds Unrestri¢led funds 18.690 30,147 5,177 35,439 Total ¢h•rlty fund• 14 48,837 40,616 These financkl 51alements were approved by the board of Iruees and aulficSe<j for issue on and are signea cn behalf ol the board by. The notes on paw 6 to 12 fom part ofth•#• finn¢l•l ststrments.
Friends of the Fishennen's Hall Notes to the Financial Ststements Year ended 31 March 2024 General Inforn)atlon The charity is a public benefit entity and a registered charity in Scotland and is unincorporated. The address of the principal office is 16 North Pringle Street. Buck. AB56 1 HT. 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 ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities and Trustee Investment {Scollandl Act 2005 and the Charity Accounts (Scollandl Regulations 2006 las atrended). Accountlng pollcles Ba818 of preparation The financial stslements have been ppared on the historical c05t basis. as modified by the revaluation of certain financial assets and liabilrties and investment properties measured al fair value through Income or expenditure. The financial slalements are prepared In Sterling. which is the fvn¢tJonal currency of the enb'ty. Golng concern There are no material uncertainties about the charity's ability to continue. Fund accountlng Unrestricted funds are available for use al the discretion of the Iruslees to further any of the charity's purposes. Designated fvnds are unrestricted funds earmarked by the trustees for particular future project or commitment. Reslrieted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub<lasses'. restricted income funds or endowment funds.
Friends of the Fishennen's Hall Noles to the Financial Statements (contlnuedj Year ended 31 March 2024 Accounllng polltSos (¢OnlTnu•dJ Incorning resources All incoming resources are included in the stslement of financial activities when entitlement has passed lo the charity", 1115 probable that the economic benefits associated with the transaction will flow to the charity and the arnount can be reliably measured. The following specific policies are applied lo particular categories of income.. income from donations or grants is renised when there is evidence of entitlement lo ltte gift, receipl is probable and its amount can be measured reliably. legacy ineome is recogni5ed when receipt 15 probable and entillemenl is established. income from donated goods is measured at the fair value of Ihe goods unless this 1$ impractical to measure reliably. in which case the value is derived from the cost lo the donor or the eslimaled resale value. Donated facilities and services are Tecognised in the accounts when received if the value can be reliably rneasured. No amounts are included for the contributson of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted seryice. This is classified as unrestncted funds unless there is a conlraclual requirement for il lo be spent on a particular PUTpose and retumed if unspent, in which case il may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities lo which il relates". expenditure on raising fvnds indudes the Costs of all fvndraising activities, events, non<haritable trading aclivilies, and the sale of donated goods. expenditure on charitsble activities includes all cosls incurred by a charity in undertaking activities that further Its chanlable aims for the benefit of its beneficiarie5, Including those support costs and costs relating lo the governance of the charity apportioned lo chantable activities. other expenditu includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct Costs attributable to a single activity are allocated direclly lo that activity. Shared $1S are apporboned beeen the acb"vitie5 they contribute to on a reasonable. justifiable and consistent basis. Tanglblo 48$•t8 Tangible assets are inrtialty recorded at cost.
Friends of the Fishennen's Hall Note8 to the Financial Statements fcontthu•dJ Year ended 31 March 2024 Aceountlng pollcl•8 feon#nu•dJ Deprnclatlon Depreciatson is calculated so as to write off the cost or valuation of an asset, less ils residual value, over the useful economi¢ life of that asset as follows.. Plant and machinery Marquee 15% reducing balance 25°1tr Straight line D•fln•d contrlbutlon pl•ns Contributions lo defined contribution plans are recognised as an expense in the period in which the related service Is provided. Prepaid ¢ontribulions are recognised as an asset to the exlenl that the prepayment will lead lo a reduction in fvlure payrnents or a ¢a$h refvnd. When contributions are not expected lo be settled wholly within 12 months of the end of the reporting dale in which the employees render the relaied servi¢e, the liability is measured on a discounted present value basis. The unwinding of the discount 15 recognised as an expense in the period in which it arises. Donatlons and leg•cl•• Unreslricled Funds Re¥lricted Total Fund• Funds 2024 Donatlon• Donations Fund hall coordinator Grant8 Groundwork UK National Lottery Beatrice Fund Tsi Moray Award Moray Coun¢il Youth Club Funding Moray Council Common Good Grant 10.000 10.000 10,000 10,000 13.990 8,700 13,990 8,700 42.690 42,690 Unreslri¢ted Funds Reslricled Total Funds Funds 2023 Don•tlons Donations Fund hall coordinator 903 903 3,817 3,817
Friends of the Fishermen's Hall Notes to the Financial Ststements fconllnu•dJ Year ended 31 March 2024 Donatlons and logaclo8 {¢tlInu•) Unreslricled Fund$ Reslricled Total Funds Fund5 2023 Grants Groundwork UK National Lottery Beatrice Fund Tsi Moray Award Moray Council Youth Club Funding Moray Council Common Good Grant 1.000 10,000 10,000 1.728 1,000 10.000 10.000 1,728 26,545 27,448 oth•r tr•dlng actlvltl•* Unreslncted Total Fundo Unrestricted Total Fund$ Funds 2024 Fund$ 2023 Events & bar sales Hall hires Fundraising 36,215 11.1S9 36.215 11,159 36.706 12,531 1.191 36,706 12,531 1,191 47.374 47,374 50.428 50,428 other Incom• Unrestricted Total Fund• Unrestricted Totsl Fund$ Funds 2024 Fund$ 2023 Gain on disposal of tangible fixed a$$els held for charity's own use 467 467 Exp•ndltur• on ch•rftable actlvltles by •ctlvlty typ• Activities undertaken direclty Support Totsl lunds costs 2024 Total fund 2023 Core expense$ Govemance costs 81,SS9 81.559 752 94,042 710 752 81.559 752 82.311 94,752 Net In¢omo1{expendltur•) Nel incomellexpendilure} is slated after chargingl{creditsng)' 2024 2023 Oeprecialion of tangible fixed assets Gains on disposal of tangible fixed assets 2,125 {4671 2.657
Friends of the Fishermen's Hall Notes to the Financial Statements {conllnu•d) Year ended 31 March 2024 Trustee remuneratlon and expense8 The tw$tee$ did not re¢eive any remunerabon and were note reimbursed for any expenses. 10. Tr•nsfgrs bgtwegn funds Grants were recewed in the period by the charity for the funding of fixed asset acquisitions. It is necessary for the charity lo release these grants received over the useful lives of the asset to which they relate. In the period lo 31 March 2024 £12,994 {2023.' £1.988) was Ifansferred from asset restricted funds to unrestricted reserves. 11. Tanglblo flxed •880t8 Plant and machinery Marquee Total Cost Al 1 April 2023 Additions 25,762 299 4,000 29,762 299 At 31 M•r¢h 2024 26,061 4,000 30,061 Deproclatlon At 1 April 2023 Charge for the year At 31 March 2024 11.890 2,125 4,000 15,890 2,125 14,015 4,000 18,015 Carrylng amount At 31 March 2024 12,046 12,046 At 31 March 2023 13,872 13.872 12. Debtorn 2024 2023 Trade debtors Prepayments and accrued income 2,887 846 3,S67 482 3,733 4.049 13. Cr•dltorn: •mounts lalllng due wlthln one year 2024 2023 Trade credrtors 8.771 6,818 10
Friends of the Fishermen's Hall Notos to the Financial Ststements (eondnu Year ended 31 March 2024 14. Analysls of charitable funds Unrestrlcted funds Al 31 March 20 24 At 1 April 2023 Income Expendilure Transfers General funds 35.439 47.841 (40,139) (12.9941 30,147 At 31 March 20 23 At 1 April 2022 Income Expenditure Transfer5 General funds 43.011 51.331 156.9151 11,9881 35.439 Restrlctod lunds At 31 Mareh 20 24 At 1 April 2023 Income Expenditure Transfers TMC Obligation fund Post Office Groundwork UK TMC youth club fund TMC common good fund Beatrice Fund National Lottery Hall Coordinator Fund 1,611 1,000 2,566 12421 1.369 1.000 2.331 13.990 12351 13.990 8.700 10.000 10.000 18.7001 110,0001 110.0001 113.4711 142,171) 13.471 5,177 42,690 12.994 18,690 At 31 March 20 23 At 1 April 2022 Inttime Expenditure Transfers TMC Obligation fund Post Office Groundwork UK TMC youth club fund TMC common go)d fund 8eatrice Fund National Lottery Hall Coordinator Fund 2,107 1.000 1.842 14961 1.611 1,000 2.566 1.000 12761 10.000 10,000 5.545 110,0001 110,0001 117,8371 137.8371 9,532 2,760 14.481 26,545 1,988 5,177 11
Friends of the Fishermen's Hall Notes to the Financial Statements fconVnu•dJ Year ended 31 March 2024 14. Analy81s of charltable funds fconttfttmdj TMC - Obligation Funds - funds used lo purchase Assets in 2019. Post Office funds to aid in providing lacililw for young people and OAPS. No expenditure from this fund as of to-date. Groundwork UK - Tesco - funds to enable improvements to be made lo the lightsng system and on Supper Room technology. TMC - Youth Club Fund - funds to Cover the costs of securing a youth development worker. TMC Common Good Grant - frJnd$ lo decorate the main hall area and install insulation in window spaces Beatrice Fund - fvnds to upgrade the Corridor and male toilets. National Lottery - funds to Upgrade the female toilets. Hall Coordinator Fund - lunds uso(I to cover costs of se¢unng a Hall Coordinator. 15. An*ly•l• of net ••s•ts b•tW•on ftsnd• Unreslricled Fund$ Reslricled TotJl Fund• Funds 2024 Tangible fixed assets Current assets 3.700 21.800 8,346 14.990 12,046 36,790 48,836 25.500 23.336 Unre$tricled Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets 9,695 25.744 4,177 1,000 13,872 26,744 35.439 5,177 40,616 12