HUTCHISON VALE COMMUNITY FOOTBALL CLUB Report and Financial Statements Year ended 30 June 2024 S¢ottl$h Chaiity Numbfrr: SC051359
Hutchlson Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2024 CONTENTS Pag• Legal and Administrative Inlormalion Report of the TsteeS. Report of the independent examiner to the trustees of HVCFC Slalemenl of Financial Aclivits-es Balance Sheet Cash Flow Statement Notes to the Financial Statements 10-14
Hutch180n Vale Commtsnity Football Club SCIO Rèport and Financlal Stat•mgnts Yéar •ndod 30 June 2024 LEGAL AND ADMINISTRATIVE INFORMATION Hutchison Vale Community Foolball Club was Incorrated as a Scoth"sh Charilable IrOrporated Organisalion on 26 October 2021 and commenced Operatn5 on 1 July 2023, chaiily number SCOS1359. Prlncipal Offtce 49 Fords Road Edivburgh EH11 3HS Accountants Henderson Kildavaig Chartered A¢counlanls 109114 Swanslon Road Edinburgh EH10 TDS Bankers Bank of Scotland plc The Mound Edlnburgh EH11YZ
Hutchison Vale Community Football Club SCIO Report and Flnanclal Statements Year ended 30 June 2024 REPORT OF THE TRUSTEES The Trustees have pleasure in presenting this report for the year ended 30 June 2024. This report is prepared in accordan with the Constitution and ihe recommendations of the Slalernent of RecoThmended Practice- Accounting and Reporting by Charities and complies with applicable law. STRUCTURE, GOVERNANCE AND MANAGEMENT The Association's head Offi is located at 49 Fords Road. Edinburgh. EH113HS. il is a registered incorporated charity in Scotland. no. SC051359. and i8 governed by rts constitution as a SCIO and was established in 2021 The rnanagement of the Assctialion is the responsibility ofthe Trustees (who are also known as Committee Members} and who are ekcted under the terms of the Conslitulion. Responsibility for the day-to4ay management is delegated to Tom Smith. POLICIES Risk management The Trustees actively review the major risks whith Ihe Charity faces on a regular basi5 2nd have estsblished policies to milrgate these. Res8r¥as pollcy The Directors do not have a formal reserves poly at this present but have plans to develop a policy during the coming year. Golng ¢on¢¢rn The charity has net assets of negalive £514 and net current assets of negative £514. The trustees have prepared financial fore¢asls lo June 2025. These projections demonstrate that the charity will be able to meet all liabilities as they fall due and therefo continue as a going concern. FINANCIAL REVIEW Total fvnds as al 30 June 2024 were negative £514. PROVISION OF INFORMATION TO AUDITOR The level of income for the year was bek)w the audit threshold so no audit is required. TRUSTEES, RESPONSIBILITIES The Iruslees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and regulations. Charity law requires the trustees to prepare financial statements for each financial year in accordan with United Kingdom Generally Accepted Accounting Pracb"ce (United Kingdom Accounting Standards and applicable lawl. Under charity law the Iruslees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charity and of Ihe incoming resources and applicats'on of resources, including the income and exndIture, of the charity for that perii)d. In preparing these financial statements. the trustees ale iequired to= secl suitable accounting policies and then apply them wnsistently., ake judgements and accounting esb'males that are reasonable and prudent.,
Hutchi50n Vale Community Football Club SCIO Rfrport and Finan¢lal Statements Yearended 30 Jun6 2024 ststo whether appltcable UK Accounl#ig Stsndards have been followed, Sublt to any material departures disd05ed and explained in the financial stalennIs., prepare the finan¢i81 statements on the going concern basis nSS it is inappropriate lo presume thal the charity wll continue in business. The trustees are responsible for keeping adequaie accounting records that are sufficienl lo show and explain the charity's tran5acl¥Jns and disclos8 wilh reasonable accuracy at any time the financial position of the charity and enable them to ensure Ihal the financial stslements compty with the Companies Act 2006, the Charities and Trustee Investm8nl IScolland} Acl 2005, the Charities Accounts (Scolland) Regulations 20¢X and the Memorandum and Articles of Association of the charity. They are also responsib for safeguarding the assets of the chartty and hencé for takn'ng reasonable steps for the pwenth'm and detection of fraud and other irregularities. This report has been prepared in accoidance with the StaterrEnt of Recommended Practice- Accaunting and Reporting by Charities (Revised 20051 and vrith the special provLsions relating lo small companie5 within Parl 15 of the Companies Act 20ThS. Approved by the board of directors and signed on 28 March 2025 by= rus
Hutehlgon Vale Community Football Club SCIO Report and Financial Statèm6nt8 Year èndod 30 Juné 2024 REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF HUTCHISON VALE COMMUNITY FOOTBALL CLUB I report on the accounts of the charity for the year ended 30 June 2024. Respectlve responsibilities of trustees and examiner The charity's directors are responsible for the preparation of the accounts in acyjrdance with thè tems of the Charities and Diiecloi InvesLment {ScolL3nd) Act 2005 and the Chariiies Accounts (Scollandl RegulalK)ns 2006. The Charity Directors CA)nsider thal the audit requirement of Rulat}rn 10111 Id) of the Accounts Regulations does not appty. It is my responsibility to •xamlne the accounts as required under seclion 44111 Icl of the Act and to state whether particular matters have come to my attention. Basls of Independent examIne8 sLilement My examination is cairied out in accordan wtlh Regulation 11 of the Charities Accounts {Scollandl Regulations 2006. An examination includes a revthv of Ihe account4ng records kept by thé Charity and comparison of the accounts presented with those records. It also includes consideration of any unusual lterr or disclosures in the accounts and seeks explanations from th8 directors concerning any such mallers. The prOdureS undertaken do not provhle all the evidence thal wouky be required in an audit. and consequenly I do not express an audit opinion on the view given by the accounts. Independent examinerfs statgmgnt In the ¢our$e of my examinab"on, rnatter has come to my attention." 1. Which gives me ieasonable cause to believe th* in any material respect the requiremènts: to keep accounting records in accordance Sectr"on 4411) lal of the 2005 Act and Regulation 4 of the 2006 Accounts RegUlatnS. and to Ppare ac(x)unts whh accord with the acts)unting records and ctsmply with Regulation 8 of the 2006 AOUnts Regulaiions have nol been met, or 2. W)ich, in my opinion. attenlK)n ShOd be drawn in order to a proper understanding of the accoun15 to be reached. Henderson Kildavaig Chartered AcivJnlanls 109114 Swanslon Road Edinburgh EH10 7DS Relevant Profession81 BY.. The Institijte of Chartered Accountants of Scolland IICAS) Dale 28 March 2025
Hutchlson Vale Community Football Club SCIO Roport and Flnancial Statements Year ended 30 June 2024 STATEMENT OF FINANCIAL ACTNMES FOR THE YEAR ENDEO 3D JUNE 2024 Unrestrl¢ted Funds Restricted Funds Total 2024 Note Income from: Donations Subscriptions Other income (gift aid) Fundraising Sponsorship Total 1.221 83.623 2.115 2.753 1CKJ 89,812 1,221 83.623 2,115 2,753 10D 89,812 Exponditure on: Raising funds Ch2ritsble activities Total 150 90.176 90.326 150 90.176 90.326 Net income I (loss (5141 {5141 Reconciliatlon ol funds: Total Funds at 30 Jun8 2023 Total Funds at 30 June 2024 (514) 15141 The ststement of ffinarEcial activities indudes all gains and losses in the year.
Hutchison Vale Communlty Football Club SCIO Roport and Financlal Statements Yaar ond8d 30 Jun6 2024 BALANCE SHEET AS AT 30 JUNE 2024 Notos 2024 2023 Flxed Asset$ Tangible a&8ets CurrentAssets Debtors Cash at bank and in hand Total current assets 86 Llabllltles Ciedilors.. amounts falling due within one yeai Net Current Assets Net Assets (600) (514) 1614) Repiesented by Unrestrlcted FndS Restricted funds Unrostriclèd fvnds. D8slgnal•d funds General funds Total Funds 11 {5141 {514) 12 ApDroved ty the Twslees and signed on tt)eir behalf Truslee Dale.. 28 March 2025
Hutchison Vale Communlty Football Club SCIO Report and Flnanclal Statements Year ended 30 June 2024 CASH FLOWSTATEMENT FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Reconciliation of net income to net ¢a$h flow from operating acuvltlgs Net income l (lossl a$ per the SOFA {514) Adjustments for: Depreciation (Gain) on disposal of fixed asset Retention eredilor expendrture Ilncreasel I decrease in debtors Increase l (decrease) in Creditors Net cash provided by operating actlvitles 600 Cash flow from investing acthrlti8s Purchase of property, plant and equiprnent Proceeds from sale of fixed assets Net cash provlded by Investlng activities Change In cash and cash equivalonts 86 Cash 8nd cash equivalents at the end of the reporting period 86 The notes on pages 10 10 15 fom) part of Ihese financial stsIeents.
Hutchlson V81e Communfty Football Club SCIO Report and Financial Statements Year ondgd 30 June 2024 NOTES TO THE FINANCIAL STATEmETrs FOR THE YEAR ENDED 30 JUNE 2024 PRINGIPAL ACCOUNTING POLICIES Hul¢hison Vale Community Fwtball Club SCIO. which commen(xd operations on 1 Juty 2023, is a Scottish Charitable Incorporated Organisation. The address of the offu registered with OSCR is given on the legal and adminislralive information page and the nature of charity's operations and tls principal activities are set out in the Report of the Trustees. The financial statemen15 have been prepared in accordance with the Charities and Tnjslee Investment Iscouandl Act 2005 and 'Accounling and Reporting by Charities". Statement of Recommended Practice applicable to charities preparing Iheif accounts in accordance with Financkal Reporting Standards applicable in the UK and Republic of Ireland IFRS 102}" effective 1 January 2015. Hutchison Vale Community Football Club SCIO constilutes a publ tenefil entity as defined by FRS102. The presentational currency of these financial statements is GBP. The level of rounding is to the nearest pound. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting eslimales. 11 also requires the truslees lo exercise judgement in apptying the charity's accounting policies, as shown in note 2 below. Going concern The charity ha$ net assets of negative £514 and net Current assets ol negatNe £514. The trustees have prepared financial forecasts to 30 June 2025. These projections denK>nstrale that the charity will be able to meet all liabili1S as they fall due and therefote continue as a going concem. b) Income Donations and similar income are induded in the year in which they are re1Vable. whi¢h is when the charity becomes entitled. receipt is probable and the amount can be measured reliabty. Investmer¢l income is credited to the Statement of Financial Activittes as due and iludeS tsx deducted or where appropriate. the imputed tax credits. Donated goods and services are goods received for beneficiaries from charitable partners. Vwhere an a¢¢urate value can be detemiined. gifts in kind are induded in the Statement of Financial Activities within voluntary income at the Current retail value. They are also included wilhin charitable expenditure. Expendlturé All expenditure is induded on an accruals basis and is recognised where there is a legal or ¢onslruclive obligation lo pay for expenditure. Governance costs are charged di¢tty to Ihe Slaternenl of Financial Activiiies when in¢urred and consist ol audit fees. Govemance costs will be allocated equalty actOSS faising funds and Charitable acb'vty expenditure. Support costs consist ofgeneral expendtture charged directty to the Stslemenl of Financial Activities when incurred and staff costs that have been alICated based on percentage usage. Costs of raising funds ¢onsist of syslemalic fvndrdising practitioner fees a5 well as wages. allocated in line with the amount of time staff spent fundraising in the year. 10
Hutchlson Valo Community Football Club SCIO Report and Financial Statements Year ended 30 June 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 l¢ontlnued) PRINCIPAL ACCOUNTING POLICIES (continued) d) Tangible Fixed Assets Fixed assets are included in the balallce sheet at cost. Depreciats"on is provided in the year in which the fixed assets are brought into use. The rates of deprecialion used are calculated lo write off the cost of the fixed asset, less their estimated residual value, over their expected useful lives on the following bases.. Land and Buildings Fixtures and Equipment Motor Vehides 2% strai9ht line (Centre only) 20% straighl line 20% straight line Land and assets under conslructK)n are not depre¢iated. Operating leases Costs in respect of operating leases a Charged lo the income and eXndr(Ure account on a straight- line basis over the lease term. Cash and cash equivalents Cash is represented by cash in hand and deposrts with financial inslilutions repayable wilhoul penalty on nolKe of not more than 24 hours. Cash eqUNants are hhlY liquid investments that mature in no more than three months from the dale of acquisitK)n and that are readily convertible to known amounts of cash with insignificanl risk of change in value. g) Restrlcted funds None al 30 June 2024. h} Designated funds None al 30 June 2024. Penslons No pension scheme was used for the year ending 30 June 2024. Financial instruments Financial assets and financial liabilities are recognised when Hulchison Vale Community Football Club SCIO becomes a paty lo the conlraclual piovisions of the instrument Hutchison Vale Community Football Club SCIO only has financi81 assets and liabilities of a kind that qualify as basic financial instruments. Financial assets held by HVCFC at 30 June 2024 are cash. Financial liabilities held by HVCFC al 30 June 2024 are accruals. These are all presented on the of the balan sheet. Financial assets and liabilities are MeaSud al amortised cost.
Hutchlson Vale Communlty Foolball Club SCIO Report and Financial Statements Year ended 30 June 2024 2. JUDGEMENTS AND ESTIMATES The preparation of these financial statements has required the tnjstees lo make judgements. estimates and assumptions that affect the application of poIleS and reF)Orted amounts. The areas involving a degree ofjudgemenl significant to the view given by these staiements are.. Tangible fixed assets are depreciated lo ffeCt the LFse of the assets by the charity. Depreciation is Calculated using the eslimaled useful economic life of the asset Donated goods and ServiS- gifts in kind received by the charity have been valued at the current retsil value. 3. INCOME Unrestrlcted Funds Restrlcled Funds Totsl 2024 Totsl 2023 t)onalions Subscriptions Other incorne (gift aid) Fundraising Sponsorship Total 1.221 83.623 2,115 2.753 100 1,221 83,623 2.115 2.753 100 89,812 89.812 EXPENDrruRE Activities undertaken diro¢tty Support osts (note 4) Total 2024 Total 2023 Rzising funds Charitable activities 150 150 80,898 81.048 9,278 9.278 90.176 90,326 SUPPORT COSTS Raising funds Charltable activitles Total 2024 Total 2023 Supporteost Staff costs Admin costs Governance st 9.278 9,278 Total 9,278 9.278 Governance costs comprise a¢wuntancy and iThJependent examinerfs fees 12
Hutchbon Vale Communlty Football Club SCIO Report and Financial Statements Year ended 30 June 2024 STAFF NUMBERS AND COSTS 2024 2023 Wages and salaries Social security costs Pension contributions Total staff costs The average number of employees during the year was O {2023- 0). No remuneration was paid lo any Tnjstee. No Trustee receNed reimbursement of expenses for attending meetings. TANGIBLE FIXED ASSETS Land & Buildings Flxtures & Equipment Motor Vehlcles Total Cost At 01 July 2023 Additions Disposals Transfer At 30 June 2024 Depreclatlon Al 01 July 2023 Charge for the year Depreciation on disposal At 30 June 2024 Net book value At 30 July 2024 At 31 June 2023 8. DEBTORS 2024 2023 PpayMeNts and accrued income 13
Hutchison Vale Community Football Club SCIO Report and Financial Statements Yoar ended 30 June 2024 CREDITORS: AMOUNTS FALLING DUE WH1N ONE YEAR 2024 2023 Other taxation and sttial security Axruals and other creditors 10. RESTRICTED FUNDS 2024 2023 Fixed Assets A description of each fund is dixlosed in note 1{9). 11. UNRESTRICTED FUNDS Transfers betwee funds At30 Jun¢ 2023 Expendit ure At 30 June 2024 Income General funds 89,812 90,326 (544) 12. ANALYSIS OF ASss BETWEEN FUNDS Total Unrestricted Restricted Funds Funds Total Funds 2024 Total Funds 2023 Fixed assets Net Current assets 1514} 1514) {514} {S14) 14