Loch Venachar Sailing Club (SCIO)
Annual Report and Accounts For the year ended 31 October 2024
Registered Charity – SC049364
Loch Venachar Sailing Club (SCIO)
Annual Report and Accounts For the year ended 31 October 2024
| Contents | Page |
|---|---|
| Charity Information | 1 |
| Trustees’ Annual Report | 2 |
| Independent Examiner’s Report | 7 |
| Receipts and Payments Account | 8 |
| Statement of Balances | 9 |
| Notes to the Accounts | 10 |
Loch Venachar Sailing Club (SCIO)
Charity Information For the year ended 31 October 2024
Charity number SC049364
Name Charity is known by LVSC
Principal office Invertrossachs Road By Callander FK17 8HG
Website Address
www.loch-venachar-sc.org.uk
Trustees
Trustees serving during the year and at the date of signing the report are:
Bankers
Royal Bank of Scotland Bank of Scotland Thistles Shopping Centre The Mound Stirling Edinburgh FK8 2EA EH1 1YZ
Independent Examiner
EA Independent Ltd 5 South Charlotte Street Edinburgh EH2 4AN
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Loch Venachar Sailing Club (SCIO)
Trustees’ Annual Report For the year ended 31 October 2024
We are pleased to present the Trustees' report and receipts and payments accounts of Loch Venachar Sailing Club (SCIO), a registered charity, for the year ending on October 31, 2024. In this comprehensive report, we aim to provide a transparent overview of our organisation's financial activities and governance during the past year along with a summary of club activities. The operations of Loch Venachar Sailing Club (SCIO) are guided by the provisions outlined in its constitution.
Structure, Governance, and Management
Loch Venachar Sailing Club (SCIO), also known as LVSC, is a Scottish Charitable Incorporated Organisation (SCIO) that has been registered as a charity since June 7, 2019. The organisation operates in accordance with its constitution, which has been in effect since its establishment. Some modifications to the constitution have been agreed upon by both the Trustees and the Membership, following the procedures outlined within it. These modifications were approved by the members of the SCIO during the Annual General Meeting (AGM) held on December 2, 2020.
Organisational Structure
LVSC consists of two main components: the members and the Charity Trustees. Members have the right to attend the AGM and hold significant decision-making powers regarding any changes to the constitution. On the other hand, the Charity Trustees are responsible for setting the strategy and policy of the charity, overseeing its activities, and monitoring its financial position.
Members
The work of Loch Venachar Sailing Club (SCIO) is made possible through the contributions of its members, who are primarily located in Scotland. Many of these members generously dedicate their time to support the charitable activities of the organisation. Membership is open to individuals who participate in non-motorised water-based sporting activities. To encourage more people to engage with the water, the definitions of membership have been expanded to include canoeing and Stand Up Paddleboarding (SUP), in addition to sailing, windsurfing, rowing, and open water swimming. These activities form the core membership activities of LVSC.
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Loch Venachar Sailing Club (SCIO)
Trustees’ Annual Report For the year ended 31 October 2024
Appointment of Trustees
Charity Trustees are elected officials who must be members of the organisation, except in cases where non-members possess specialised experience or skills that could be beneficial to the Board of Trustees. In such cases, non-members may be appointed by the Board. Employees of the organisation are not eligible to serve as trustees. At each AGM, all charity trustees retire from their positions but are eligible for reappointment.
Objectives and Activities
LVSC has been established to fulfil the following Charitable Purposes:
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The advancement of public participation in sport.
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The provision of recreational facilities or the organisation of recreational activities with the objective of improving the conditions of life for the individuals primarily intended to benefit from these facilities or activities.
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LVSC offers a wide range of activities aligned with its charitable purposes, including:
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Royal Yachting Association (RYA) dinghy and powerboat courses.
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Sailing development opportunities for individuals of all skill levels.
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Canoeing, Stand Up Paddleboarding (SUP), and other water-based activities.
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Volunteering opportunities for those interested in being involved in the charity's activities.
Achievements and performance
Loch Venachar Sailing Club has just enjoyed another great year of sailing and water sports, our 54th year to be precise.
An increasing number of members continue to use the club through the winter and we continue to see members enjoying a variety of water activities such as swimming, canoeing and paddleboarding.
With regard to sailing, we are in the midst of a full season of Sunday and Wednesday races, some with very little wind, some with too much and some just perfect. But all great fun!
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Loch Venachar Sailing Club (SCIO)
Trustees’ Annual Report For the year ended 31 October 2024
Achievements and performance continued
The Training School, which runs RYA courses, has been busy, running sailing courses from introductory level 1 through to instructor level. We have also run power boat level two and power boat safety courses. We are always keen to see adults and children of all ages learn to sail and improve their skills and we run regular Sunday morning support and mentoring sessions, plus summer academies introducing youth sailing across all levels.
The RYA also directly run training academies for Toppers and Oppies using our club facilities. Whilst we have also hosted an Enterprise traveler weekend. This allows adult and junior sailors from across the UK to benefit from our great facility.
Once again we have hosted several major events including The Cancer Research Big Hike, The MacMIllan (cancer) Mighty Hike, The Challenger Traveler Weekend and The Scottish West District Open Water Swimming Championship. We can literally have hundreds of people on site on these occasions.
The club has been fully used by affiliates and ‘friends’ such as the Stirling Triathlon Club, Active Stirling, Stirling Young Carers and McLaren High School students completing their Duke of Edinburgh.
Financially the club is very healthy and this allows us to invest in and maintain our fleet, the clubhouse and the grounds. We have a fairly consistent level of membership with a trickle turnover. Currently this includes 141 memberships, equating to 260 people. We continue to encourage family memberships.
The club runs on a voluntary basis and continues to thrive largely due to the energy and enthusiasm of those members who realise what a great place it is and how fortunate we are to be a part of it. As we go forward we want to carry on making sure that as well as enjoying the club we give something back to the immediate local and the wider national community.
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Loch Venachar Sailing Club (SCIO)
Trustees’ Annual Report For the year ended 31 October 2024
Financial Review
In the year to 31 October 2024 the charity had receipts of £34,966 (2023: £32,896) and payments of £28,757 (2023: £50,325), giving net receipts of £6,209 (2023: net payments £17,429). Total funds under management at 31 October 2024 are £34,763 (2023: £28,554), of which £560 are restricted to use. All funds are represented by cash and bank balances.
Reserves:
The charity’s unrestricted reserves at the end of the financial period were £34,203. The Charity Trustees have agreed a reserves policy of six months’ operational costs.
Based on the total expenditure within the year to 31 October 2024, the charity’s monthly operational costs, including possible replacement of equipment, for six months is around £14,000. As the current reserves are higher than this figure, and due to the fact that LVSC is a relatively young charity, and ongoing uncertainties, the Trustees consider the actual reserves are appropriate and will enable the charity to carry out its plans and activities.
Trustee remuneration and expenses:
The trustees did not receive any remuneration or expenses from LVSC during the year to 31 October 2024.
Risk Assessment:
The Trustees consistently conduct thorough risk assessments to identify and address the potential risks faced by the charity. After careful consideration, the Trustees are confident that there are no significant risks beyond those already disclosed in the financial statements. It is worth noting that Loch Venachar Sailing Club (SCIO) operates without any employed staff members but maintains public liability insurance coverage to ensure appropriate protection.
Plans for future period
We will maintain and consolidate our core activities. In support of this we plan to:
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Expand collaboration with local charities, scouting and voluntary groups and grow impact of our site and facilities in support of our aims.
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Consult on our current club facilities and needs, to develop proposed improvements to deliver our club aims.
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Loch Venachar Sailing Club (SCIO)
Trustees’ Annual Report For the year ended 31 October 2024
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Continue to work to integrate the broad spectrum of unpowered watersports in the community of the club.
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Nurture instructing and coaching volunteers and reinforce progression pathways to develop a sustainable training capability.
Approved by the Trustees and signed on their behalf
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Loch Venachar Sailing Club (SCIO)
Independent Examiner’s Report for the year ended 31 October 2024
I report on the accounts of the charity for the year ended 31 October 2024, which are set out on pages 8 and 9 and the related notes on pages 10 to 12.
Respective responsibilities of trustees and examiner
The charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006(as amended) (“the 2006 Regulations”). The charity’s Trustees consider that the audit requirement of Regulation 10(1) (d) of the Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the 2006 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Regulations
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
EA Independent Ltd 5 South Charlotte Street Edinburgh, EH2 4AN 31 July 2025
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Loch Venachar Sailing Club (SCIO)
Receipts and Payments Account For the year ended 31 October 2024
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| Notes | 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| Receipts from | |||||
| Grants and donations | 2 | 6,744 | 560 | 7,304 | 6,541 |
| Membership income | 18,725 | - | 18,725 | 18,102 | |
| Charitable activities | 3 | 8,501 | - | 8,501 | 7,714 |
| Investment income | 436 | - | 436 | 479 | |
| Sale of assets | - | - | - | 60 | |
| ────── | ────── | ────── | ───── | ||
| 34,406 | 560 | 34,966 | 32,896 | ||
| ────── | ────── | ────── | ───── | ||
| Payments on | |||||
| Charitable activities | 4 | 21,017 | - | 21,017 | 19,298 |
| Purchase of equipment | 4 | 7,740 | - | 7,740 | - |
| ────── | ────── | ────── | ───── | ||
| Total payments | 28,757 | - | 28,757 | 19,298 | |
| ────── | ────── | ────── | ───── | ||
| Net (payments) / receipts | before | ||||
| transfers | 5,649 | 560 | 6,209 | 9,581 | |
| Transfers | - | - | - | - | |
| ────── | ────── | ────── | ───── | ||
| Net (payments) / receipts | 5,649 | 560 | 6,209 | 9,581 | |
| ═══════ | ═══════ | ══════ | ══════ |
The notes on pages 10 to 12 form part of these accounts
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Loch Venachar Sailing Club (SCIO)
Statement of Balances As at 31 October 2024
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| Notes | 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| Funds reconciliation | |||||
| Fund balances at start of year | 28,554 | - | 28,554 | 45,983 | |
| Net receipts for the year | 5,649 | 560 | 6,209 | 9,581 | |
| ───── | ───── | ───── | ───── | ||
| Fund balances at end of year | 6 | 34,203 | 560 | 34,763 | 28,554 |
| ══════ | ═════ | ═════ | ══════ | ||
| Represented by | |||||
| Bank account at start of year | 28,554 | - | 28,554 | 45,983 | |
| Net receipts for the year | 5,649 | 560 | 6,209 | 9,581 | |
| ───── | ───── | ───── | ───── | ||
| 34,203 | 560 | 34,763 | 28,554 | ||
| ══════ | ═════ | ═════ | ══════ |
The following balances are to provide further information:
| The following balances are to provide further information: | ||
|---|---|---|
| 2024 | 2023 | |
| Long-term assets | £ | £ |
| Land at Sailing Club | 90,000 | 90,000 |
| Sailing Club building | 152,000 | 152,000 |
| Wheely Boat * | 46,297 | - |
| Sailing dinghies | 3,808 | 3,808 |
| Safety boats | 5,533 | 5,533 |
| Container | 4,230 | - |
| Tractor | 2,600 | - |
| Defibrillator | 1,703 | - |
| Bahia | 1,650 | 1,650 |
| Boat, engine & trolley | 1,550 | 1,550 |
| Powered lift | 190 | 190 |
| Lawn mower | 198 | 198 |
| Petrol strimmer | 184 | 184 |
| ───── | ───── | |
| 309,943 | 255,113 | |
| ══════ | ═════ | |
| *Purchase price of £24,297 was after discount of £22,000 from Wheely | Boat Trust | |
| Liabilities | £ | £ |
| Independent examination fee | 500 | 500 |
| ───── | ───── | |
| Approved by the Trustees on 31 July 2025 and signed on their behalf by | , Chair: |
The notes on pages 10 to 12 form part of these accounts
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Loch Venacher Sailing Club (SCIO)
Notes to the Accounts For the year ended 31 October 2024
1. Accounting policies
Basis of accounting
The accounts have been prepared on a Receipts and Payments basis in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
VAT
The charity is not registered for VAT and, accordingly, expenditure includes VAT where appropriate.
Resources expended
Expenditure incurred has been classified on a basis appropriate to the charity’s circumstances. All expenditure relates to the charitable activities.
Governance costs are separately identified in the relevant note to the accounts.
2. Grants and donations
| rants and donations | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | |
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| LV Sailability - transfer | 6,114 | - | 6,114 | - |
| Its Good to Give – Wheely Boat | - | - | - | 4,487 |
| Callander Hydro - Defibrillator | - | - | - | 1,000 |
| Other donations | 630 | 560 | 1,190 | 1,054 |
| ────── | ────── | ────── | ────── | |
| 6,744 | 560 | 7,304 | 6,541 | |
| ────── | ────── | ────── | ────── | |
| eceipts from charitable activities | ||||
| £ | £ | £ | £ | |
| Courses | 4,290 | - | 4,290 | 5,980 |
| Events | 2,995 | - | 2,995 | 1,145 |
| Catering | 1,216 | - | 1,216 | 487 |
| Merchandise | - | - | - | 102 |
| ────── | ────── | ────── | ────── | |
| 8,501 | - | 8,501 | 7,714 | |
| ────── | ────── | ────── | ────── |
3. Receipts from charitable activities
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Loch Venacher Sailing Club (SCIO)
Notes to the Accounts For the year ended 31 October 2024
4. Charitable activities
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Repayment of surplus grant* | - | - | - | 800 |
| Training | 836 | - | 836 | 2,475 |
| Maintenance & repairs | 4,337 | - | 4,337 | 4,902 |
| Bosunage/fleet costs | 847 | - | 847 | 1,344 |
| Utilities & fuel | 2,909 | - | 2,909 | 3,093 |
| Insurance | 6,430 | - | 6,430 | 5,145 |
| Consumables | 137 | - | 137 | - |
| Event costs | 35 | - | 35 | 97 |
| Catering | 610 | - | 610 | 196 |
| Purchase of merchandise | 84 | - | 84 | 46 |
| Administration & subscriptions | 4,292 | - | 4,292 | 4,461 |
| Sailability | - | - | - | 465 |
| Independent examination | 500 | - | 500 | 1,100 |
| ────── | ────── | ────── | ────── | |
| 21,017 | 21,017 | 24,125 | ||
| ────── | ────── | ────── | ────── | |
| Purchase of equipment | ||||
| Container | 4,230 | - | 4,230 | 24,497 |
| Tractor | 2,640 | - | 2,640 | |
| Wheely Boat | 750 | - | 750 | 24,497 |
| Defibrillator | - | - | - | 1,703 |
| Other | 120 | 120 | ||
| ────── | ────── | ────── | ────── | |
| 7,740 | - | 7,740 | 26,200 | |
| ────── | ────── | ────── | ────── |
*Repayment of grant relates to surplus funds from Stirling Council for water works in 2022.
Independent examination fee for 2024 is £500 (2023: £500) and is included in the Statement of Balances.
5. Related party transactions
No payments were made to trustees for remuneration or travelling expenses in the year to October 2024 (2023: £nil).
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Loch Venacher Sailing Club (SCIO)
Notes to the Accounts For the year ended 31 October 2024
6. Funds
----- Start of picture text -----
Balance at Balance at
1 Nov 23 Receipts Payments Transfers 31 Oct 24
£ £ £ £ £
Unrestricted Funds 28,554 34,406 (28,757) - 34,203
────── ────── ────── ────── ──────
Restricted Funds
Defibrillator - 560 - - 560
────── ────── ────── ────── ──────
- 560 - - 560
────── ────── ────── ────── ──────
Total Funds 28,554 34,966 (28,757) - 34,763
═══════ ═══════ ═══════ ═══════ ═══ ══ ══
----- End of picture text -----
Unrestricted Funds:
The general funds of the charity are used under the direction of the Trustees to meet the charitable aims of the SCIO.
Funds were received on the winding up of LV Sailability, and are included as general club funds. LVSC has absorbed the members and activities of LVS
Restricted Funds:
Defibrillator: A grant and donations received in relation to the defibrillator that was purchased in July 2023. These will be used for the upkeep of the Defib, such as for servicing and the replacement of pads and batteries as needed.
Transfers between funds: There were no transfers between funds.
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