REGISTERED CHARITY NUMBER: SC051272
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
FOR
PETERHEAD ATHLETICS CLUB SCIO
Goldwells Ltd Goldwells House Grange Road Peterhead Aberdeenshire AB42 1WN
PETERHEAD ATHLETICS CLUB SCIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
PETERHEAD ATHLETICS CLUB SCIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
The trustees present their report with the financial statements of the charity for the year ended 31st August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Club operates as a non-profit distributing charity whose principal objectives are: the promotion of interest and the advancement of public participation in the sport of athletics in the town of Peterhead and surrounding villages of Banff and Buchan; the provision or organisation of recreational activities and/or facilities for training and competition with a view to improving the conditions of life for those for whom the activities and/or facilities are intended In furtherance of these objectives, the club shall endeavour to provide or organise equipment for the use of its Members; to provide other ordinary benefits of an amateur sports club, including provision of suitably qualified coaches, training sessions, and competition opportunities; and to provide a safe, friendly, and welcoming environment for all those who wish to enjoy the sport.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are happy to report that the club has had a successful year. The longside loop run and the 5K run both proved very popular this year with entry fees up over 40% for each on the previous year. Donations received were three times that of 2023.
FINANCIAL REVIEW
Financial position
The trustees are satisfied there are sufficient funds available to carry the club forward for at least the next year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
SC051272
Principal address
Fairview Cottage East North Street Peterhead Aberdeenshire AB42 1LJ
Trustees
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Page 1
PETERHEAD ATHLETICS CLUB SCIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Goldwells Ltd Goldwells House Grange Road Peterhead Aberdeenshire AB42 1WN
Approved by order of the board of trustees on 12th May 2025 and signed on its behalf by:
- Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PETERHEAD ATHLETICS CLUB SCIO
Independent examiner's report to the trustees of Peterhead Athletics Club SCIO
I report to the charity trustees on my examination of the accounts of Peterhead Athletics Club SCIO (the Trust) for the year ended 31st August 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Goldwells Ltd Goldwells House Grange Road Peterhead Aberdeenshire AB42 1WN
12th May 2025
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PETERHEAD ATHLETICS CLUB SCIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024
| 2024 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 5,076 Charitable activities Longside Loop 3,467 10K 3,568 Lido 3K series 1,079 Summer 5K 2,136 Cross Country - Track fees 619 Bus fees - Crimond entries 885 Other trading activities 2 551 Total 17,381 EXPENDITURE ON Raising funds 1,976 Charitable activities 10K 12,298 Lido 3K series - Membership 582 Donations 130 Total 14,986 NET INCOME 2,395 RECONCILIATION OF FUNDS Total funds brought forward 15,811 TOTAL FUNDS CARRIED FORWARD 18,206 |
2023 Total funds £ 3,770 1,996 4,261 769 1,496 58 896 425 - 557 |
|---|---|
| 14,228 | |
| 687 10,950 330 547 - |
|
| 12,514 | |
| 1,714 14,097 |
|
| 15,811 |
The notes form part of these financial statements
Page 4
PETERHEAD ATHLETICS CLUB SCIO
BALANCE SHEET 31ST AUGUST 2024
| 2024 Unrestricted funds Notes £ CURRENT ASSETS Cash at bank 18,206 CREDITORS Amounts falling due within one year 5 - NET CURRENT ASSETS 18,206 TOTAL ASSETS LESS CURRENT LIABILITIES 18,206 NET ASSETS 18,206 FUNDS 6 Unrestricted funds 18,206 TOTAL FUNDS 18,206 |
2023 Total funds £ 16,031 (220) 15,811 15,811 15,811 15,811 15,811 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12th May 2025 and were signed on its behalf by:
- Trustee
The notes form part of these financial statements
Page 5
PETERHEAD ATHLETICS CLUB SCIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can 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 particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Fundraising events | 551 | 557 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2024 nor for the year ended 31st August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2024 nor for the year ended 31st August 2023.
Page 6
continued...
PETERHEAD ATHLETICS CLUB SCIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 3,770 |
| Charitable activities | |
| Longside Loop | 1,996 |
| 10K | 4,261 |
| Lido 3K series | 769 |
| Summer 5K | 1,496 |
| Cross Country | 58 |
| Track fees | 896 |
| Bus fees | 425 |
| Other trading activities | 557 |
| Total | 14,228 |
| EXPENDITURE ON | |
| Raising funds | 687 |
| Charitable activities | |
| 10K | 10,950 |
| Lido 3K series | 330 |
| Membership | 547 |
| Total | 12,514 |
| NET INCOME | 1,714 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 14,097 |
| TOTAL FUNDS CARRIED FORWARD | 15,811 |
continued...
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PETERHEAD ATHLETICS CLUB SCIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors | - | 220 | |
| MOVEMENT IN FUNDS | |||
| Net | |||
| movement | At | ||
| At 1.9.23 | in funds | 31.8.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 12,129 | (802) | 11,327 |
| Race Income | 3,682 | 3,197 | 6,879 |
| 15,811 | 2,395 | 18,206 | |
| TOTAL FUNDS | 15,811 | 2,395 | 18,206 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 6,526 | (7,328) | (802) |
| Race Income | 10,855 | (7,658) | 3,197 |
| 17,381 | (14,986) | 2,395 | |
| TOTAL FUNDS | 17,381 | (14,986) | 2,395 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.9.22 | in funds | 31.8.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,097 | (1,968) | 12,129 |
| Race Income | - | 3,682 | 3,682 |
| 14,097 | 1,714 | 15,811 | |
| TOTAL FUNDS | 14,097 | 1,714 | 15,811 |
6. MOVEMENT IN FUNDS
continued...
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PETERHEAD ATHLETICS CLUB SCIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 5,648 | (7,616) | (1,968) |
| Race Income | 8,580 | (4,898) | 3,682 |
| 14,228 | (12,514) | 1,714 | |
| TOTAL FUNDS | 14,228 | (12,514) | 1,714 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.22 | in funds | 31.8.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,097 | (2,770) | 11,327 |
| Race Income | - | 6,879 | 6,879 |
| 14,097 | 4,109 | 18,206 | |
| TOTAL FUNDS | 14,097 | 4,109 | 18,206 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 12,174 | (14,944) | (2,770) |
| Race Income | 19,435 | (12,556) | 6,879 |
| 31,609 | (27,500) | 4,109 | |
| TOTAL FUNDS | 31,609 | (27,500) | 4,109 |
continued...
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PETERHEAD ATHLETICS CLUB SCIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2024.
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PETERHEAD ATHLETICS CLUB SCIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 1,881 | 604 |
| Membership fees | 3,195 | 3,166 |
| 5,076 | 3,770 | |
| Other trading activities | ||
| Fundraising events | 551 | 557 |
| Charitable activities | ||
| Race income | 10,855 | 8,580 |
| Track fees | 619 | 896 |
| Bus fees | 280 | 425 |
| 11,754 | 9,901 | |
| Total incoming resources | 17,381 | 14,228 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Purchase of clothing | 1,976 | 687 |
| Charitable activities | ||
| Bus hire | 642 | 905 |
| Course fees | 101 | 610 |
| Competition fees | 396 | 150 |
| Equipment | 164 | 486 |
| Race levies | 826 | 698 |
| Club subscriptions | 582 | 547 |
| Hall fees | 167 | 618 |
| Track fees | 1,994 | 2,354 |
| Prize money | 1,510 | 1,490 |
| Trophy costs | 1,994 | 1,647 |
| Chip timing | 1,931 | 1,426 |
| Course measurement | - | 130 |
| Misc | 2,443 | 205 |
| Gifts | 130 | 231 |
| Donations | 130 | 330 |
| 13,010 | 11,827 | |
| Total resources expended | 14,986 | 12,514 |
| Net income | 2,395 | 1,714 |
This page does not form part of the statutory financial statements
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