SHETLAND WEIGHT TRAINING CLUB (SCIO) UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st MARCH 2025
Charity Number SC050290
SHETLAND WEIGHT TRAINING CLUB (SCIO)
FINANCIAL STATEMENTS
PERIOD ENDED 31st MARCH 2025
| CONTENTS | PAGE |
|---|---|
| Trustees’ Annual Report | 1 |
| Independent examiner’s report to the trustees | 3 |
| Statement of Receipts and Payments | 4 |
| Statement of Balances | 5 |
| Notes to the Finance Statements | 6 |
SHETLAND WEIGHT TRAINING CLUB (SCIO)
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31st MARCH 2025
The trustees present their report and the unaudited financial statements of the charity for the year ended 31[51 ] March 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name
Shetland Weight Training Club
Charity registration number
Principal address
SC050290
THE TRUSTEES
The trustees who served the charity during the period were as follows:
Independent examiner
BML Accounts Ltd
2-4 Alexandra Building Esplanade Lerwick Shetland ZE1 0LL
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Group was registered as a charity on 15 July 2020 and is governed by its written constitution.
The Board shall have control of the organisation, its property and funds. When complete the board shall consist of at least 3 and not more than 11 individuals, all of whom must be members of the organisation. The Board shall be composed of the following members: Chairperson, Treasurer, and Secretary. The Board or the members may appoint new trustees from individuals they believe have the necessary skills and experience to benefit the charity.
All the trustees shall retire at each AGM but shall be eligible for re-election.
OBJECTIVES AND ACTIVITIES
The objective of the organisation is the advancement of public participation in strength sports and general fitness, the advancement of health and wellbeing, the provision of recreational facilities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended.
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SHETLAND WEIGHT TRAINING CLUB (SCIO)
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31st MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
This year most of our income came from gym memberships and the sale of supplements and clothing. We are receiving rental income from the plot of land we own this year. As the new build is still in progress, we have rented out the plot of land to a local company for storage of large plant and equipment.
Our expenditure this year has been the usual rent, electricity, stock, and equipment. As none of the current committee members have time to take on this workload this is a necessary expense.
FINANCIAL REVIEW
The financial year ending 31st March 2025 has been another successful one. This has been down to the dedication and hard work of the committee members and trustees to ensure our members get the most from the gym memberships they are paying for. £150,000 of our club funds are earmarked as funding towards the new gym build.
RESERVES POLICY
The trustees aim to maintain a sufficient level of reserves to facilitate the operations of the charity.
PLANS FOR THE FUTURE
In the coming year we hope to
-
Progress with the proposed new gym facility in Tingwall
-
Be successful in various grant/loan applications
-
Get the new defibrillator installed at the gym as we have received funding for this.
-
Encourage more female participants in the Strongwomen and powerlifting events the club runs
-
Look at the potential of employing a part time member of staff
-
Replace some of the cardio equipment as it is old and showing wear and tear.
We are waiting on final structural drawings and building warrants to be completed and approved so that we can move on to the next stage of the funding application process. If these grant applications are unsuccessful, we will be looking at other options such as crowd funding, donations and bank loans.
Signed on behalf of the trustees
Chairperson
12 November 2025
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SHETLAND WEIGHT TRAINING CLUB (SCIO) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHETLAND WEIGHT TRAINING CLUB YEAR ENDED 31st MARCH 2025 I report on the accounts of the charity for the year ended 31 st March 2025 which are set out on pages 4t06. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The charity's trustees are responsible for the preparation of the accounts in accordance with the temis of the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act) and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirements of Regulation 10(1)(d) of the Accounts Regulations does not apply.11 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 the Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). 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: (1) which gNes me reasonable cause to beIve that in any material respect the requrements: to keep accounts'ng records in accordance with section 44(1)(a) of the 2005 Acl and Regulation 4 of the 2006 Accounts Regulations: and to prepare accounts which accord with the accounting records and comply with RegUlatn 9 of the 2006 Accounts Regulats'ons have not been met; t (2) to which, in my opinion. attention should be drawn in order to enable a proper urKlerstanding of the accounts to be reached. 12 November 2025
SHETLAND WEIGHT TRAINING CLUB (SCIO)
STATEMENT OF RECEIPTS AND PAYMENTS
YEAR ENDED 31st MARCH 2025
| Note | Unrestricted Funds |
Unrestricted Funds |
Unrestricted Funds |
Restricted Funds |
Total Funds 2025 |
Total Funds 2025 |
Total Funds 2025 |
Total Funds 2024 |
Total Funds 2024 |
Total Funds 2024 |
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||||||
| RECEIPTS | |||||||||||
| Memberships | 60,666 | 60,666 | 52,367 | ||||||||
| Merchandise | 2,720 | 2,720 | 2,343 | ||||||||
| Supplements | 13,503 | 13,503 | 13,095 | ||||||||
| PT commission | 5 | 5 | 350 | ||||||||
| Other income | - | - | 205 | ||||||||
| Donations | 1,000 | 1,000 | |||||||||
| Rents from land & buildings |
3,300 | 3,300 | 3,000 | ||||||||
| Income from investments other than land & buildings |
1,126 | 1,126 | 961 | ||||||||
| TOTAL RECEIPTS | 82,320 | 82,320 | 72,321 | ||||||||
| PAYMENTS | |||||||||||
| Charitable expenditure | (55,228) | (55,228) | (52,448) | ||||||||
TOTAL PAYMENTS |
(55,228) |
(55,228) |
(52,448) |
||||||||
| Surplus/(Deficit) for the year |
27,092 | 27,092 | 19,874 |
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SHETLAND WEIGHT TRAINING CLUB (SCIO)
STATEMENT OF BALANCES
YEAR ENDED 31st MARCH 2025
CASH & BANK BALANCES
| Total Funds 2025 |
Total Funds 2024 |
|
|---|---|---|
| £ | £ | |
| Cash at bank | 154,614 | 127,522 |
| Cash and bank balances at start of period | 127,522 | 107,648 |
| Surplus/(deficit) shown on receipts and payments account | 27,092 | 19,874 |
| Cash and bank balances at end of period | 154,614 | 127,522 |
| Funds | ||
| Unrestricted | 154,614 | 127,522 |
| Restricted | - | - |
| 154,614 | 127,522 | |
Summary of assets held
Weight training and various gym equipment.
The notes on Page 6 form an integral part of these accounts.
These financial statements were approved by the members of the committee and authorised for issue on 12 November 2025 and are signed on their behalf by:
Treasurer
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SHETLAND WEIGHT TRAINING CLUB (SCIO)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st MARCH 2025
1. BASIS OF ACCOUNTING
These accounts have been prepared on the receipts and payments basis in accordance with the Charities & Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
2. NATURE AND PURPOSE OF FUNDS
General funds are unrestricted funds which are available for use at the discretion of the Trustees, in furtherance of the general objectives of the charity, and which have not been designated for other purposes by donors. Restricted funds relate to income received with restrictions attached to its use.
3. TRUSTEES' REMUNERATION AND EXPENSES
No trustee received any remuneration or expenses during the current or prior period.
4. PAYMENTS RELATING DIRECTLY TO CHARITABLE ACTIVITIES
| Unrestricted Funds |
Unrestricted Funds |
Restricted Funds |
Total Funds 2025 |
Total Funds 2025 |
Total Funds 2024 |
Total Funds 2024 |
|
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||
| Details | |||||||
| Rent, rates & insurance | 15,667 | 15,667 | 15,166 | ||||
| Phone | 482 | 482 | 321 | ||||
| Heat & light | 6,026 | 6,026 | 4,170 | ||||
| Stationery | 110 | 110 | 37 | ||||
| Bank charges | 60 | 60 | 60 | ||||
| Supplements | 12,259 | 12,259 | 12,551 | ||||
| Merchandise | 3,372 | 3,372 | 5,289 | ||||
| Repairs & renewals | 1,710 | 1,710 | 3,203 | ||||
| Cleaning | 3,359 | 3,359 | 3,809 | ||||
| Equipment | 5,369 | 5,369 | 2,872 | ||||
| Website costs | 198 | 198 | 158 | ||||
| Sponsorship | 875 | 875 | 2,866 | ||||
| Legal & professional fees | 5,247 | 5,247 | - | ||||
| Accountancy | - | - | 1,152 | ||||
| Sundries | 154 | 154 | 374 | ||||
| Membership refunds | 340 | 340 | 420 | ||||
| TOTAL PAYMENTS | 55,228 | 55,228 | 52,448 | ||||
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