**COMPANY REGISTRATION NUMBER: SC413230 CHARITY REGISTRATION NUMBER: SC048469** 

**Inshes Community Association** 

**Company Limited by Guarantee** 

**Unaudited Financial Statements** 

## **31 December 2024** 

## **RITSONS** 

Chartered Accountants Forbes House 36 Huntly Street Inverness IV3 5PR 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Financial Statements** 

## **Year ended 31 December 2024** 

||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Independent examiner's report to the trustees|**4**|
|Statement of financial activities (including income and||
|expenditure account)|**6**|
|Statement of financial position|**7**|
|Notes to the financial statements|**8**|
|**The following pages do not form part of the financial statements**||
|Detailed statement of financial activities|**20**|
|Notes to the detailed statement of financial activities|**21**|





## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** 

## **Year ended 31 December 2024** 

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. 

## **Reference and administrative details** 

**Registered charity name** Inshes Community Association **Charity registration number** SC048469 **Company registration number** SC413230 **Principal office and registered** 28 Queensgate **office** Inverness IV1 1DJ Scotland 

**The trustees** 

Mr R N Pederson Mr T Prag Mrs L Campbell Mrs E MacKinnon (Resigned 15 December 2024) Mr T Campbell Mr S Rowan (Appointed 3 April 2025) Mr J Campbell (Appointed 3 April 2025) 

**Company secretary** Macleod & Maccallum **Independent examiner** Daniel Palombo C.A., M.A.(Hons) Forbes House 36 Huntly Street Inverness IV3 5PR 

## **Structure, governance and management** 

Governing Document 

The organisation is a charitable company limited by guarantee, incorporated on the 15 December 2011 and registered as a charity on 19 June 2018. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event if the company being wound up members are required to contribute an amount not exceeding £1. 

Recruitment and appointment to the Board of Directors Directors are elected to post by the members of the company. 

**- 1 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **Objectives and activities** 

The company has been formed to promote and facilitate the following purposes initially with Inshes Regional Park located within the area of benefit and thereafter within such other open spaces as the company shall decide and located within the area of benefit: 

- The advancement of citizenship or community development by providing opportunities for developing, managing and caring for, initially, Inshes Regional Park and thereafter such open spaces as the company shall decide within the area of benefit 

- The provision of recreational facilities, or the organisation of recreational activities, for adults and children with the object of improving the conditions of life for the citizens within the area of benefit 

- The advancement of the environmental protection or improvement by pursuing sound environmental policies in the development and management of, initially, Inshes Regional Park within the area of benefit and thereafter within such open spaces as the company shall decide within the area of benefit 

- The advancement of arts, heritage, culture of science by providing opportunities for mounting events, interpretation and display of public art 

- The advancement of public participation in sport by providing opportunities for sporting events 

## **Achievements and performance** 

Inshes Community Association (ICA) had a quiet year during 2024 – our investments in Inshes Park facilities were well used during the year with the new wheel park proving particularly popular.  The board took steps to refresh its membership, and two new trustees were appointed in April 2025. James Campbell and Steve Rowan took part in their first meeting on May 20[th] 2025. 

## **Financial review** 

At 31 December 2024 the charity held reserves of £203,234 (2023 - £231,714) consisting of a surplus of £3,983 (2023 - £4,044 surplus) in unrestricted funds and £199,251 surplus (2023 - £227,670) in restricted funds. 

The maintenance of the park and equipment falls to the Highland Council so there are very few calls on Inshes Community Association for regular outgoings. There is therefore no requirement for substantial reserves. 

## **Reserves policy** 

The unrestricted funds (excluding funds tied up in fixed assets) are in surplus by £2,434 (2023 – deficit £435) and the deficit is covered by restricted funds.  The charity is aware that financially they will need to raise regular unrestricted income to cover the annual administration costs and are actively seeking ways to address this as soon as possible. 

**- 2 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **Trustees' responsibilities statement** 

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. 

In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the applicable Charities SORP; 

- make judgments and accounting estimates that are reasonable and prudent; 

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **Plans for future periods** 

The board is still very aware that financially we need to raise regular unrestricted income to cover our annual admin costs for accountancy, company secretary and insurance. The board is also aware of the need to consider the level of reserves and will keep that under review. Since projects are not undertaken without the funds being in place the only need for reserves would be to meet an unexpected administrative charge. We are confident we could meet that if required. 

The board will be considering what projects it might want to consider in the future - possibilities include a 'pump track', a cycle training facility, the gateway project or whatever the community feels they lack. 

## **Small company provisions** 

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. 

## 05/08/2025 

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by: 

## fee. 

Mr T Prag Trustee 

**- 3 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Independent Examiner's Report to the Trustees of Inshes Community Association** 

## **Year ended 31 December 2024** 

I report to the trustees on my examination of the financial statements of Inshes Community Association ('the charity') for the year ended 31 December 2024. 

## **Responsibilities and basis of report** 

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. 

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). 

## **Independent examiner's statement** 

Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of ICAS which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or 

2. the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or 

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or 

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

**- 4 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Independent Examiner's Report to the Trustees of Inshes Community** 

**Association** _**(continued)**_ 

## **Year ended 31 December 2024** 

I have no concerns and have come across no other matters in 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. 

## **Other matters** 

To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charities’ trustees as a body, for our work, for this report, or for the opinions I have formed. 

Daniel Palombo C.A., M.A.(Hons) Independent Examiner 

Forbes House 36 Huntly Street Inverness IV3 5PR 

## 05/08/2025 

**- 5 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Statement of Financial Activities (including income and expenditure account)** 

## **Year ended 31 December 2024** 

||||**2024**||2023|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**5**|–|2,310|2,310|4,800|
|Investment income|**6**|188|–|188|213|
|||--------------|-----------------------|-----------------------|-----------------------|
|**Total income**||188|2,310|2,498|5,013|
|||==============|=======================|=======================|=======================|
|**Expenditure**||||||
|Expenditure on charitable activities|**7,8**|30,863|115|30,978|34,018|
|||---------------------------|-----------------------|---------------------------|---------------------------|
|**Total expenditure**||30,863|115|30,978|34,018|
|||===========================|=======================|===========================|===========================|
|||---------------------------|-----------------------|---------------------------|---------------------------|
|**Net expenditure**||(30,675)|2,195|(28,480)|(29,005)|
|||===========================|=======================|===========================|===========================|
|Transfers between funds||30,614|(30,614)|–|–|
|||---------------------------|---------------------------|---------------------------|---------------------------|
|**Net movement in funds**||(61)|(28,419)|(28,480)|(29,005)|
|**Reconciliation of funds**||||||
|Total funds brought forward||4,044|227,670|231,714|260,719|
|||---------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Total funds carried forward**||3,983|199,251|203,234|231,714|
|||===========================|================================|================================|================================|



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 18 form part of these financial statements.** 

**- 6 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Statement of Financial Position** 

## **31 December 2024** 

|||**2024**|2023|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**14**|200,619|227,416|
|**Current assets**||||
|Cash at bank and in hand||3,959|13,976|
|**Creditors: amounts falling due within one year**|**15**|1,344|9,678|
|||-----------------------|---------------------------|
|**Net current assets**||2,615|4,298|
|||--------------------------------|--------------------------------|
|**Total assets less current liabilities**||203,234|231,714|
|||--------------------------------|--------------------------------|
|**Net assets**||203,234|231,714|
|||================================|================================|
|**Funds of the charity**||||
|Restricted funds||199,251|227,670|
|Unrestricted funds||3,983|4,044|
|||--------------------------------|--------------------------------|
|**Total charity funds**|**16**|203,234<br>================================|231,714<br>================================|



For the year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

Directors' responsibilities: 

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. 

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by: 05/08/2025 

## Ce. 

Mr T Prag Trustee 

Company Registration Number: SC413230 

**The notes on pages 8 to 18 form part of these financial statements.** 

**- 7 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** 

## **Year ended 31 December 2024** 

## **1. General information** 

The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is 28 Queensgate, Inverness, IV1 1DJ, Scotland. 

## **2. 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 Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared 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 sterling, which is the functional currency of the entity. 

## **Going concern** 

The unrestricted funds are in surplus by £3,983. The charity is aware that financially they will need to raise regular unrestricted income to cover the annual administrations costs and are actively seeking ways to address this as soon as possible. 

## **Judgements and key sources of estimation uncertainty** 

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the 

charity's purposes. 

Designated funds are unrestricted funds 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 terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

**- 8 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **3. Accounting policies** _**(continued)**_ 

## **Incoming resources** 

All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

- Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. 

- Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. 

- Investment income is included when receivable. 

- Income from charitable trading activity is accounted for when earned. 

- Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. 

## **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 to which it relates: 

- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. 

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- other expenditure includes all expenditure that is neither related to 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 directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

**- 9 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **3. Accounting policies** _**(continued)**_ 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities.  A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Freehold property - 10% straight line 

## **Impairment of fixed assets** 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments, which include debtors, bank and cash balances and creditors are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

Debt instruments are subsequently measured at amortised cost. 

## **4. Limited by guarantee** 

The company is limited by guarantee and has no share capital. The liability of each member in event of the company being wound up is restricted to £1. 

**- 10 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **5. Donations and legacies** 

|||Restricted|**Total Funds**|Restricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||**Grants**|||||
||The Highland Council|2,310|2,310|4,800|4,800|
|||==============================|============================|============================|============================|
|**6.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Bank interest receivable|188|188|213|213|
|||==============|==============|==============|==============|
|**7.**|**Expenditure on charitable activities by fund type**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2024**|
||||£|£|**£**|
||General operations||30,863|115|30,978|
||||===========================|==============|===========================|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2023|
||||£|£|£|
||General operations||33,970|48|34,018|
||||===========================|==============|===========================|
|**8.**|**Expenditure on charitable activities by activity type**|||||
||||Activities|||
||||undertaken|**Total funds**|Total fund|
||||directly|**2024**|2023|
||||£|**£**|£|
||General operations||30,978|30,978|34,018|
||||===========================|===========================|===========================|
|**9.**|**Net expenditure**|||||
||Net expenditure is stated after charging/(crediting):|||||
|||||**2024**|2023|
|||||**£**|£|
||Depreciation of tangible fixed assets|||29,107|32,250|
|||||===========================|===========================|
|**10.**|**Independent examination fees**|||||
|||||**2024**|2023|
|||||**£**|£|
||Fees payable to the independent examiner for:|||||
||Independent examination of the financial statements|||1,413|1,358|
|||||=======================|=======================|



**- 11 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

**Notes to the Financial Statements** _**(continued)**_ 

**Year ended 31 December 2024** 

## **11. Staff costs** 

The average head count of employees during the year was Nil (2023: Nil). 

No employee received employee benefits of more than £60,000 during the year (2023: Nil). 

## **12. Trustee remuneration and expenses** 

No trustees were paid remuneration or expenses were incurred in the year (2023 - £nil). 

## **13. Transfers between funds** 

£nil (2023 - £1,000) was transferred from the Awards for All - Inshes Park Disabled Play Equipment restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

£nil (2023 - £1,000) was transferred from the Communities & Families restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

£nil (2023 - £1,560) was transferred from the Highland Council - Park Shelter restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

£nil (2023 - £250) was transferred from the Inverness South Community Council - Park Shelter restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

£700 (2023 - £700) was transferred from the Awards for All - Inshes Park Furniture Improvements restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

£600 (2023 - £600) was transferred from the Highland Council - Ward Discretionary Budget - Inverness South restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

£1,000 (2023 - £nil) was transferred from the Inverness South Community Council - Pump-Priming Funding restricted fund in favour of unrestricted funds to cover the underspend on the grant. 

£nil (2023 - £6,302) was transferred from the Highland Council - Ward Discretionary Budget restricted fund in favour of unrestricted funds as the grant had been underspent and confirmation was received that the funds could be transferred to unrestricted funds. 

£nil (2023 - £500) was transferred from the Highland Council - Inshes Park Shelter and Seating restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

£390 (2023 - £390) was transferred from the Highland Council New Picnic Benches & Insurance restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

£21,479 (2023 - £18,813) was transferred from the Highland Council - Place Based Investment for the wheeled sports park restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund (£18,813).  An additional £2,666 was transferred from the restricted fund in favour of unrestricted funds being the underspend on the grant. 

**- 12 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **13. Transfers between funds** _**(continued)**_ 

£2,837 (2023 - £2,485) was transferred from the Inverness Common Good Fund for the wheeled sports park restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund (£2,485).  An additional £352 was transferred from the restricted fund in favour of unrestricted funds being the underspend on the grant. 

£3,377 (2023 - £2,958) was transferred from the EB Scotland Ltd for the wheeled sports park restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund (£2,958).  An additional £419 was transferred from the restricted fund in favour of unrestricted funds being the underspend on the grant. 

£231 (2023 - £nil) was transferred from the Inverness Common Good Fund - Safety Improvements restricted fund in favour of unrestricted funds to cover the depreciation charge on assets purchased from this fund. 

## **14. Tangible fixed assets** 

|||**Freehold**|
|---|---|---|
|||**property**|
|||**£**|
|**Cost**|||
|At 1 January 2024||577,497|
|Additions||2,310|
|||--------------------------------|
|**At 31 December 2024**||579,807|
|||================================|
|**Depreciation**|||
|At 1 January 2024||350,081|
|Charge for the year||29,107|
|||--------------------------------|
|**At 31 December 2024**||379,188|
|||================================|
|**Carrying amount**|||
|**At 31 December 2024**||200,619|
|||================================|
|At 31 December 2023||227,416|
|||================================|
|**Creditors:** **amounts falling due within one year**|||
||**2024**|2023|
||**£**|£|
|Trade creditors|–|8,400|
|Accruals and deferred income|1,344|1,278|
||-----------------------|-----------------------|
||1,344|9,678|
||=======================|=======================|



## **15. Creditors: amounts falling due within one year** 

**- 13 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **16. Analysis of charitable funds** 

## **Unrestricted funds** 

||||||||**At 31**|
|---|---|---|---|---|---|---|---|
||At|1|January||||**December**|
||||2024|Income|Expenditure|Transfers|**2024**|
||||£|£|£|£|£|
|General funds|||4,044|188|(30,863)|30,614|3,983|
||||=======================|==============|===========================|===========================|=======================|
||||||||At 31|
||At|1|January||||December|
||||2023|Income|Expenditure|Transfers|2023|
||||£|£|£|£|£|
|General funds|||1,243<br>=======================|213<br>==============|(33,970)<br>===========================|36,558<br>===========================|4,044<br>=======================|



## **General funds** 

The General fund represents unrestricted funds from past operating results. It also represents the free reserves of the charity. 

**- 14 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **16. Analysis of charitable funds** _**(continued)**_ 

## **Restricted funds** 

|**Restricted funds**|||||||
|---|---|---|---|---|---|---|
||||||**At**|**31**|
||At 1 January||||**December**||
||2024|Income|Expenditure|Transfers|**2024**||
||£|£|£|£|£||
|Awards for All - Inshes|||||||
|Park Disabled Play|||||||
|Equipment|–|–|–|–||–|
|Communities & Families|||||||
|Fund|–|–|–|–||–|
|The Highland Council -|||||||
|Park Shelter|–|–|–|–||–|
|Inverness South|||||||
|Community Council -|||||||
|Park Shelter|–|–|–|–||–|
|Awards for All - Inshes|||||||
|Park Furniture|||||||
|Improvements|700|–|–|(700)||–|
|The Highland Council -|||||||
|Ward Discretionary|||||||
|Budget - Inverness|||||||
|South|1,200|–|–|(600)|600||
|Inverness South|||||||
|Community Council -|||||||
|Pump-Priming Funding|1,000|–|–|(1,000)||–|
|The Highland Council -|||||||
|Ward Discretionary|||||||
|Budget|–|–|–|–||–|
|The Highland Council -|||||||
|Inshes Park Shelter and|||||||
|Seating|–|–|–|–||–|
|The Highland Council -|||||||
|Ward Discretionary|||||||
|Fund|3,026|–|(115)|(390)|2,521||
|Highland Council -|||||||
|Place Based Investment|||||||
|Fund|171,987|–|–|(21,479)|150,508||
|Inverness Common|||||||
|Good Fund|22,715|–|–|(2,837)|19,878||
|EB Scotland Ltd|27,042|–|–|(3,377)|23,665||
|Inverness Common|||||||
|Good Fund - Safety|||||||
|improvements|–|2,310|–|(231)|2,079||
||--------------------------------|-----------------------|--------------|---------------------------|--------------------------------||
||227,670<br>================================|2,310<br>=======================|(115)<br>==============|(30,614)<br>===========================|199,251<br>================================||



**- 15 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **16. Analysis of charitable funds** _**(continued)**_ 

||||||At|31|
|---|---|---|---|---|---|---|
||At 1 January||||December||
||2023|Income|Expenditure|Transfers|2023||
||£|£|£|£|£||
|Awards for All - Inshes|||||||
|Park Disabled Play|||||||
|Equipment|1,000|–|–|(1,000)||–|
|Communities & Families|||||||
|Fund|1,000|–|–|(1,000)||–|
|The Highland Council -|||||||
|Park Shelter|1,560|–|–|(1,560)||–|
|Inverness South|||||||
|Community Council -|||||||
|Park Shelter|250|–|–|(250)||–|
|Awards for All - Inshes|||||||
|Park Furniture|||||||
|Improvements|1,400|–|–|(700)|700||
|The Highland Council -|||||||
|Ward Discretionary|||||||
|Budget - Inverness|||||||
|South|1,800|–|–|(600)|1,200||
|Inverness South|||||||
|Community Council -|||||||
|Pump-Priming Funding|1,000|–|–|–|1,000||
|The Highland Council -|||||||
|Ward Discretionary|||||||
|Budget|6,262|–|40|(6,302)||–|
|The Highland Council -|||||||
|Inshes Park Shelter and|||||||
|Seating|500|–|–|(500)||–|
|The Highland Council -|||||||
|Ward Discretionary|||||||
|Fund|3,504|–|(88)|(390)|3,026||
|Highland Council -|||||||
|Place Based Investment|||||||
|Fund|186,000|4,800|–|(18,813)|171,987||
|Inverness Common|||||||
|Good Fund|25,200|–|–|(2,485)|22,715||
|EB Scotland Ltd|30,000|–|–|(2,958)|27,042||
|Inverness Common|||||||
|Good Fund - Safety|||||||
|improvements|–|–|–|–||–|
||--------------------------------|-----------------------|--------------|---------------------------|--------------------------------||
||259,476|4,800|(48)|(36,558)|227,670||
||================================|=======================|==============|===========================|================================||



**- 16 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **16. Analysis of charitable funds** _**(continued)**_ 

## **The Highland Council - Common Good Fund** 

Funding towards Inshes Play Park. 

## **Sport Scotland** 

Funding towards development of Inshes Adventure Play Park. 

## **Awards for All - Inshes Park Disabled Play Equipment** 

Funding towards providing disabled play equipment at Inshes Park. 

## **Communities & Families Fund** 

Funding to provide toddlers equipment at Inshes Park. 

## **The Highland Council - Park Shelter** 

Funding towards cost of providing a park shelter. 

## **Inverness South Community Council - Park Shelter** 

Funding towards cost of providing a park shelter. 

## **Awards for All - Inshes Park Furniture Improvements** 

Funding relating to providing park furniture including themed seats, picnic tables and litter bins near the play areas 

## **The Highland Council - Ward Discretionary Budget - Inverness South** 

Funding for preparatory works for new toilets and café. 

## **Inverness South Community Council - Pump-Priming Funding** 

Funding to cover the cost of legal and other fees and minor start-up costs to enable funding to be sought from the major funding bodies to finance the development of Phases 1 and 2. 

## **The Highland Council - Ward Discretionary Budget** 

Third party contribution to enable subsequent funding to be sought for the development of phases 2 and 3 - to build a concrete scooter and wheeled sports park. 

## **The Highland Council - Inshes Park Shelter and Seating** 

Funding towards additional park shelter, improved seating and themed seats at the play areas. 

## **Scottish Land Fund - Expanding Inshes Park** 

Funding towards valuation, feasibility plan and business plan for expanding the park. 

## **The Highland Council - Ward Discretionary Fund** 

Funding towards picnic benches and increased insurance costs. 

**- 17 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2024** 

## **16. Analysis of charitable funds** _**(continued)**_ 

## **The Highland Council - Place Based Investment Fund** 

Funding towards building a wheeled sports park. 

## **Inverness Common Good Fund** 

Financial assistance toward Inshes Scooter and Wheeled Sports Park. 

## **EB Scotland Ltd** 

Funding toward groundworks and sub-base construction of Inshes Wheeled Sports Park. 

## **Inverness Common Good Fund - Safety Improvements** 

Funding towards safety improvements at Inshes Wheel Park 

## **17. Analysis of net assets between funds** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2024**|
||£|£|**£**|
|Tangible fixed assets|1,549|199,070|200,619|
|Current assets|3,778|181|3,959|
|Creditors less than 1 year|(1,344)|–|(1,344)|
||-----------------------|--------------------------------|--------------------------------|
|**Net assets**|3,983|199,251|203,234|
||=======================|================================|================================|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2023|
||£|£|£|
|Tangible fixed assets|4,479|222,937|227,416|
|Current assets|9,243|4,733|13,976|
|Creditors less than 1 year|(9,678)|–|(9,678)|
||-----------------------|--------------------------------|--------------------------------|
|**Net assets**|4,044|227,670|231,714|
||=======================|================================|================================|



**- 18 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Management Information** 

**Year ended 31 December 2024** 

**The following pages do not form part of the financial statements.** 

**- 19 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Detailed Statement of Financial Activities** 

## **Year ended 31 December 2024** 

||**2024**|2023|
|---|---|---|
||**£**|£|
|**Income and endowments**|||
|**Donations and legacies**|||
|The Highland Council|2,310|4,800|
||-----------------------|-----------------------|
|**Investment income**|||
|Bank interest receivable|188|213|
||--------------|--------------|
||-----------------------|-----------------------|
|**Total income**|2,498|5,013|
||=======================|=======================|
|**Expenditure**|||
|**Expenditure on charitable activities**|||
|Insurance|115|88|
|Legal and professional fees|343|322|
|Depreciation|29,107|32,250|
|Independent examiners fee|1,413|1,358|
||---------------------------|---------------------------|
||30,978|34,018|
||---------------------------|---------------------------|
||---------------------------|---------------------------|
|**Total expenditure**|30,978|34,018|
||===========================|===========================|
||---------------------------|---------------------------|
|**Net expenditure**|(28,480)|(29,005)|
||===========================|===========================|



**- 20 -** 



## **Inshes Community Association** 

## **Company Limited by Guarantee** 

## **Notes to the Detailed Statement of Financial Activities** 

## **Year ended 31 December 2024** 

||**2024**|2023|
|---|---|---|
||**£**|£|
|**Expenditure on charitable activities**|||
|**General operations**|||
|**_Activities undertaken directly_**|||
|Insurance|115|88|
|Legal and professional fees|343|322|
|Depreciation charge|29,107|32,250|
|Accountancy fees|1,413|1,358|
||---------------------------|---------------------------|
||30,978|34,018|
||---------------------------|---------------------------|
||---------------------------|---------------------------|
|**Expenditure on charitable activities**|30,978|34,018|
||===========================|===========================|



**- 21 -** 



## 3624 Full 2024 

Final Audit Report 

2025-08-05 

Created: 2025-08-05 By: Daniel Palombo (inverness@ritsonsca.com) Status: Signed Transaction ID: CBJCHBCAABAASbwza3AS4JZ8xJFlV4-VqOjDnJhUBpd7 

## "3624 Full 2024" History 

Document created by Daniel Palombo (inverness@ritsonsca.com) 2025-08-05 - 2:13:22 PM GMT 

Document emailed to thomas prag (thomas@prags.co.uk) for signature 

2025-08-05 - 2:13:27 PM GMT 

- Email viewed by thomas prag (thomas@prags.co.uk) 2025-08-05 - 2:14:18 PM GMT 

- Document e-signed by thomas prag (thomas@prags.co.uk) Signature Date: 2025-08-05 - 2:15:18 PM GMT - Time Source: server 

Document emailed to Daniel Palombo (dpalombo@ritsonsca.com) for signature 2025-08-05 - 2:15:20 PM GMT 

Email viewed by Daniel Palombo (dpalombo@ritsonsca.com) 2025-08-05 - 3:09:57 PM GMT 

Document e-signed by Daniel Palombo (dpalombo@ritsonsca.com) Signature Date: 2025-08-05 - 3:10:38 PM GMT - Time Source: server 

Agreement completed. 

2025-08-05 - 3:10:38 PM GMT