REGISTERED COMPANY NUMBER: CS003713 (Scotland) REGISTERED CHARITY P4UMBER: SC048855 REPORT OF THE TRUSTEES AND UNAUDII'ED FtNANCIAL STATEMEF4TS FOR THE YEAR ENDED 30 TrIOVEMBER 2024 FOR BANFF, LIL4CDUFF AND DISTRICT MEN'S SHED Ritsons CA 15 Boyndie Street Banff Aberd¢enshir¢ AB45 IDY
BANFF, MACDiIFF AND DISTIUCT MEN'S SHED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVLMBER 2024 Psge Report of the Truste Independent Examiner's Report Statemellt of FinsDCi81 Actlvitles Balance Sheet Notes to the FiN*ncial Statements 7 to 10 Detailed St#tement of FinAnciAI Activities
BANFF, MACDUFF AND DISTRICT MEN'S SHED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2024 The Érust¢es who are also dir¢¢iors of the eharity for the PUTposes of the Companies Act 2006, present their report with the fanCIal statem¢nts of the Charity for the year end¢d 30 November 2(k24. The trnstees have adopted th¢ provisions of Aecounting and Reporting by Charities.. Stst¢ment of Recommended PraGti¢e applicable to charities preparing their accounts in accordaD¢e with the Financial Reporting Standard applKGable in the UK and R¢publie of Ireland (FRS 102) {¢ffective I Sanuary 2019). ORVECTITrTS AND ACTIVITtES Objeetiyes 8nd Aims The purpose Of ihe or8ariisation is to provide recreational facilities and advance the social needs, health and well being o men of all ages and backgrounds Ilving in Banff, Macduff and surrounding areas. The Banff. Ma¢duff & District M¢n'$ Shed is just over 6 year old. we estsblished charitable status on the 21st November 2018 ¢harity number SC048855. In 2022 through th¢ asset transfer pro¢ess we 5e¢uTed a 99 year lease on a former school building ID Macduff. The Men's Shed movernent was established to provide a place where men 18+ could meet socialize, build, repair and pcycle, use skills that have b¢¢n developed over years and pass them on to others. and to wnrtect with other cotnmunity groups. We appeal to men who find themselvcs as a result of retirement. physical or mental ill health, divorce or being widow¢d amongst oth¢TS, b¢ing isolated in th¢ community they live. ACHIEVEMENT AND PERFORMANCE We continue ¢0 make improvements to the building in the form of ¢nergy saving m¢asur¢s, fitting LED lighting and insulatLOtI. A wood burnsng stove was insta]led which has made the whol¢ building more ¢omfortable Our memb¢rs continue lo undertake community projects and help for individuals repairing items, refi]rbishing public notice board5. benGhes, assembling garden and household fumiture, private and public garden tidies. The m&in workshop is organszed with dust extraction system now installed. A second rootn has be¢n organized as an activities arca with games, crafts, model making. music etc The 8reetthouse has been very popular with memb¢rs. so so that a second bigger one has been purchased for er¢¢tion ready for spring 2025 There are council Tun Computer I tech classes and addi¢lion therdpy also being off¢red from the premises. The buildÉng was usa as a film set for a we¢k during the Summer with further filming booked for next y¢ar We achieved a number of rnilestones over the year. The crowning achievement was for th¢ second year in a row being short listed and then go on to win the Scottish Men's Shed of The Year Award, competing against over 200 sheds the anntsun¢ement came at the SMSA AGM held at Perth. The Banff, Macduff and DistTjCt Men's Shed has been mentioned in both the Scottish Parliament and W¢stminster congratulating us on winning the Sw¢ti$h M¢n's Shed of the Year for the second con5eGutive year. We a150 hosted an Open Doors Day for Men 19th November. Page I
BANFF, MACD[F AND DISTRICT MEN'S SHED REPORT OF THE TRUSTEES FOR THE YF,AR ENDED 30 IYOVEMBER 2024 FINANCIAL REVIEW Donations, Fundraising arld Grants We have been fomllmte to re¢¢iYe donations from Thc Art Club. Strathspey and Reel Society, Wild Dookers. Shed of the Year prize money and many cash donations fmTE] people we'v¢ done small job5 for. Grants from Muirden Encrgy, COOP Community Fund, Aberdeen5hirc Cotsnril, Coastal Community Fund, ASDA FoundalioJ4 cARS, and NESCAN, Sced Fund Fundrdisin8 through Sales 8nd providing a venu¢ for other groups. Patron Schem¢ A Patron Scheme has been established tu help out in the case of a lean period or in the ease of unexpected emergcncies. PatTOliS pledg¢ to provide fii)ancial support to a rnaximum of £300 if called uEx)n. To dale we h&ve 9 $i)ed up Patrons. llJ¢ Patton 5chEme will be assessed annually and parti¢ipallts conta¢ied to Confirm their ¢ontinued support. Patrons will only be called on a5 a la51 resort. FUTURE PLANS We continue to reduce our carbon foot print and energy costs as mueh as possible by following the reconimendations in an energy ¢tYi¢ianGy rcport provided by Business En¢rgy scotlan once plantiing application 15 approved we will install a new airto air heat pump system eArly 2025 Ere£t a Second gre¢ll house r¢ady for spring 2025 Continue to provide hub Sp to bcnefit the con]munity and in turn help cover ¢osts. Inerease our membership and provid¢ a safe and comfortable place for us all to me STRUCTURE, GOVERNANCE AND MANAGLMENT Govtrnlng document The chariry is cotttrolled by its goveming documcnL a deed of trust, and ¢onstitutes a limited company, limited by 8uaranle¢, as defjned by th¢ Compani¢s Act 2006. Charlty constion The ¢haritJ is a SLottisb Charitable In¢orFX)rated Or8anisation la SCIO). li w8s registered in its Current legal fomi on 21 November 2018. It has a single tier structure and as such the trtteeS are the metnbers ofthe Chlty. Reernltment #nd 8ppointin¢nt of new trustee$ The mana8¢m¢nt committee meet weekly. All group nieinbers are welcoine to aiiend, should a new appointment be rqiiired a special members meeting Can be called at any time. Trustees are elected at the annual general rneeting which is held in June. There rnu5t be a minimum ofthree twstees. REFERENCE AND ADMINISTRATIVE DETATI,S Registered Company number CS003713 (Scotlalld) Regi$t¢red Charity number SC048855 ReElstered office Page 2
BANfiV, MACDUFF AI¥D DISTRICT MEN'S SHED REPORT OF THE TRLISTEES DR THE YEAR ENDED 30 NOVEMBER 2024 C0[ThpaY Secretary Ind¢pe&deot ExAmiR¢r Ritions CA 15 Boyndie Street Banff Ab¢rdeenshire AR45 IDY Apprt)Ned by oydei" of Ilie bts'd oftnJ51Leb on - and signed on its behalf by.. Page 3
INDEPEL4DENT EXAMINER'S REPORT TO THE TRLTSTEFS OF BANFF. MACDUFF AND DISTRICT MEN'S SHED I rep)rt on the acwunts for th¢ yesr ende<5 30 November 2024 Set out on pages ftve to len. Re5ctIVe responsibilitles of trustees and txwThin*r The charit}'s trL15t¢C5 ore responsible for th¢ Preparaiion of the a¢counts in accordance with the tenn5 of the Charitie5 and Trustee Investment (Scotland) Act 2005 Trd the Charities Accounts (Scotland) Kegulatiotis 2006 (as artiend¢d). The charity's trllstees COllsid¢r that the audit requiremGnt of Kegulation 10(I){a) to Ic} of the Attounts Regulations doe5 not apply. It is rny resp)nsibility to examine the aL¢owits as rffjuircd under Sectton M(l)(r) of the Act ajxi to sth¢e Wer particular matters hav¢ come to my allentioii. B8sis of the Indendent ex&rniner's report My exatnination was LarriLMI out ID accordance with Regulaiion I l of ibe c.harities Accounts (Scotland) Regulations 2006. examiTration includes a revicw of the awountin8 records kept by the charity and a comparison of the accounts pr¢sented with those r¢cords. It also includ¢s con5idera1ion of any unusual iicms or di5closure8 in the accounls, )d Seeking ¢xplanation$ from you ay ¢nJstees concerning nny Such matters. The prottdures undertaken do not provide all the evidenLe that would b¢ requir in an audit, and ¢oi)s4uently I do not express an audit opinton on the view given by the aL¢ounts. Independent examiner's st#tem¢nt In cot¢Cl10n with my examination. no matter has come to my att¢ntion: (l) which gives me r¢tsonablc c8use to believe that, in any n)aterial re5pecL the requiremtnts to keep accounting records in ac¢ordiuKe with StIon 44(1 Xal of the 2005 Act and Regulalion 4 of the 2006 Accounts Re8ulations' and to wepare a¢¢owJts wiiich weord with the ac¢ountin8 records and to comply with Regulation 8 of the 2006 Accounts R¢8ulations have not been met. or {2) to ivhith, in my opinion, attention should be thawrt in order to enable a proper understanding of thc accounts to be rea¢hed. Ritsons CA 15 Boyndi¢ Sireet Aberdeenshire AB45 IDY Date.. 10 P8ge 4
BANFF, MACDUFF AND DISTRICT MEN'S SHED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2024 2024 Total funds 2023 Unrestricted fund Restrtctsd fund TotAI ruDds Notes INCOME AND ENDOWMENfs FROM Donations and le¥acies 1,930 1,930 2,922 ChAritable activities Genernl 2.451 33,384 35,835 1,200 Other trading activities Investment income Total 404 13.511 18.296 404 13.511 51.680 977 EXPENDITURE ON Charit8bl¢ activitie$ Genual 17,505 17.884 35,389 14,857 NET INCOME 791 15,500 16,291 1,757 RECONCILIATION OF FUNDS Total funds brought forward 17,128 17.128 15,371 TOTAL FUNDS CARRIED FORWARD 17,919 15,500 33,419 17,128 The notes forni part of these financial slatements Page 5
BANFF, MACDUFF AND DISTRICT MEN'S SUED BALANCE SllLL"I' 30 NOVEMBER 2024 2024 Total fund$ 2023 Total Unrestricttd fund Restric¢¢d fund Notes CURREf+tr ASSETS Cash at bank and in hand 17,919 15,500 33.419 17,128 NET CtJRRENf ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 17,919 15,500 33.419 17,128 NET ASSETS FUNI)S Utireslricted fllnds K¢strE¢t¢d funds TOTAL FUNDS 17,919 33,419 17,919 15.500 33.419 17,128 17,128 The charitable company is entitled to exemption froln audit under Section 477 of the Compani£s Act 2006 for the year ended 30 November 2024. The memb¢TS havr not required th¢ company to obtain audit of it5 financial 5tatem¢nts for the year ended 30 November 2024 tn a¢o)rd8n¢¢ with S¢¢tion 476 of th¢ Componi¢s A¢t 2006. The tyustees acknowledge their reswnsibililies for (a) ensuring that th¢ charitable ¢ompany keeps ac¢ounting records that Comply with Sertions 386 and 387 of the Companies Act 2(K)6 and preparing financial statetnents whieh give a true and fair view of the Sthle of affairs of the Charithble company at the end of ¢a¢h ftnan¢ial y¢ar and of its surplus or deficit for each financial year in Accordance with the r¢quirern¢nts of Section$ 394 and 395 which othenvise comply with the requirements of the Companies Act 2006 re]atin8 to [acIal slatenlents, so far as applicable to the charitable Company. (b) These finaii¢iaJ stateinents have been prepared in Accordance with the provision$ applicable to eIrItable compani¢s subjecl to the small cotnpanie5 rebiim¢. Th¢ finan¢ial 21¢MentS were approved by the Board of Trusttts and authorised for issue on ............................................. and were signed on its behalf by.. The notes form part of these fin8ncial stat¢rnents Page 6
BANFF, MACDUFF AND DISTRICT MEN'S SHED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 ACCOUNTING POLICIES BASJS OF PREPARING THE FINANCIAL STATlENTs The fInan¢ial statements of the Charitabl¢ Company, which is a public benefit entity under FRS 101 have been prepared in a¢cordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recomtnended Practice applicable to chariti¢5 pr¢pariRg their a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 2019),. Finan¢Éal Reporting Standard 102 'The Financial Reporting Standard applicabl¢ in the UK and Republi¢ of treland, and the Companies Act 2006. Th¢ financial statements have be¢n prepared under the historical cost convention. INCOME All income 15 recognised in the Statement of Finan¢iaI A¢tivities once the charity has entitlement to the fut$, it is probable that the income will be received and the amount can be measured reliably. EXPENDITURE Liabilitie5 are recognised as expenditure &8 soon a5 there is a legal or constructive obligation ¢0mittlg the chaTity to that expendtture. it is probable that a transf¢r of economic benefits will be requircd in settlement and the amount of the obligation can be rneasured reliably. Expenditure is accounted for on an ac¢ruals basis and has been classified under headtngs that aggre¥ate all cost related to the category. Where cost5 cannot be dire¢tly attributed to particular heading5 they have been allocated to activities on a basis ¢onsislent with the use of resources. TAXATION Th¢ charity ts exempt from rporatiOn tax on its ¢haritsble activitses. FUND ACCOUNTtNG Unrestricted funds can b¢ used in accordance with the charitable obj¢ctives at the discretion of the trustees. Restricted funds ¢an 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 particulw resÈricted purw)ses. Further explanation of the nature and purpose of ea¢h fund is in¢luded in the notes to the financial stst¢Tnents. OTHER TRADINC AcfiviTIES 2024 21123 Fundraising events 404 977 INVESTMENT INCOME 2024 21)23 Rents received Interest receivabl¢- trading 13.178 333 13.511 11,422 93 11,515 Page 7 continued...
BANFF, MACDUFF AND DISTRICT MEN'S SHED NOTES TO THE FINANCIAL STATEMENTS- coNtlnued FOR THE YEAR ENDED 30 NOVEMBER 2024 TRUSTEES, REIIIUNERATION AND BENEFITS There were no trusiees, remuneration or other benefits for the y¢ar ended 30 Novernber 2024 nor ftir the year ended 30 November 2023. TRUSTEES, EXPENSES There were no trustees, expenses paid for the year ended 30 November 2024 nor for the year ended 30 Nov¢rnber 2023. COlPARATIVEs FOR THE STATEMEKf OF FINANCIAL ACTIVITIES Unrestricted Restricted Totk)I funds INCOME AND ENDOIVMENTS FROM Donations and legacies 2,922 2,922 Charitable 8£tivities General 1,200 1,200 Other trading activiti¢s tnvestm¢nt income Total 977 11,5l5 16,614 977 11,515 16,614 EXPENDITURE ON Ch#ritable aetivities G¢neral NET INCOME 1.757 1,757 RECONCtLJATION OF FUNDS Total funds brought forward 15,371 15.371 TOTAL FUNDS CARRIED FORWARD 17,128 17,128 MOVEMENT IN FUNDS Net movement ill fund5 At 1.12.23 At 30.11.24 UDre$trieted funds General fund 17,128 791 17,919 Restricted funds RestriGied 15.500 15,500 TOTAL FUNDS 17.128 33,419 Pa8e 8 continued...
BANFF. MACDUFF AND DISTRICT MEN'S SHED NOTES TO THE FINANCIAL STATEMENTS- colltlnued FOR THE YEAR ENDED 30 NOVEMBER 2024 MOVEMENT JN FUNDS- eontinued N¢t movement in fvnds. included in the abov¢ are as follows.. ltteoming resources Resourc¢s expended Movement in funds Unrestrieted funds General fund 18296 (17,505) 791 Restricted funds Restricted 33.384 (17,884) 15,500 TOTAL FUP4DS 51.680 35,389) 16,291 Corllpar8tives for movement in funds Net ovemellt in fullds At 1.12.22 At 30.1123 Unrestrleted fund$ G¢neral fimd 15,371 1,757 17,128 TOTAL FUNDS 15.371 1,757 Compar&tive net movement in fvnds. included in the above are as follows.. Incomlng resources Resources expended Movement in fund$ Unrestricted funds General fund 16,614 (14,857) 1.757 TOTAL FUNDS 16,614 14,857 1.757 Page 9 continued...
BANFF, MACDUFF AND DISTIUCT MEN'S SHED NOTES TO THE F]NANCtAL STATEMENTS- continued FOR THE YEAR ENDED 30 NOVEMBER 2024 MOVEMENT IN FUNDS- continued A current year 12 tnonths and prsor year 12 months combined p051tion is &s follows: Net ovetnellt funds At 1.12.22 At 30.11.24 Unrestricted funds General fund 15,371 2.548 17,919 Restricted funds Restri¢t¢d 15.500 15.500 TOTAL FUNDS 15,371 18,048 33,419 A current year 12 months and prior year 12 months combin¢d net movement in funds. included in the above are as follows: IDcomin¥ resources Resovrce5 expendtd Movement in funds Unrestricted fllnds Generdl fitnd 34,910 (32,362) 2,548 Restricted funds Restricted 33.384 (17.884) 15,500 TOTAL FUNDS 68.294 50,246) 18,048 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30 November 2024. Pagt 10
BANFF, MACDUFF AND DISTRICT MEN'S SHED DETAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 30 NOVEMBER 2024 2024 2023 INCOIIIE AND ENDOWMENTS DouatÉoD$ and Itgacies Donations 1.930 2,922 Other trgdlng activltles Fundraising events 977 Investment income Rents receiv¢d Interest re¢etvable- trading 13.178 333 13.511 11,422 93 11.515 Charit&ble #ctivities Grants Tot81 incoJDing resources 35,835 51,680 1,200 16,614 EXPENDrruRE Charitable activities In$uraJice Light and heat Telephone Sundries Rent Maintenance Tools & Equipment Subs¢riptions 543 5,615 376 1.570 200 22.420 4,321 74 35.119 493 257 1,756 10.323 1,887 25 14,835 Support costs Governance costs Ac¢ountancy and l¢¥al fees Total resources expend¢d Net income 270 35.389 16,291 22 14.857 1,757 7his page doe5 not form part of the statutory financial ststements Pagell