## **HUTCHISON VALE COMMUNITY FOOTBALL CLUB**
## **Report and Financial Statements**
**Year ended 30 June 2025**
**Scottish Charity Number: SC051359**
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **CONTENTS**
**Page** Legal and Administrative Information Report of the Trustees’ 4 – 5 Report of the independent examiner to the trustees of HVCFC Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Financial Statements 10 - 14
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
Hutchison Vale Community Football Club was incorporated as a Scottish Charitable Incorporated Organisation on 26 October 2021 and commenced operations on 1 July 2023, charity number SC051359.
## **Trustees**
Tom Smith Chi Shing Chueng John Blain Norrie Kerr Gordon Kneebone Leslie Trotter
## **Principal Office**
49 Fords Road Edinburgh EH11 3HS
## **Accountants**
Henderson Kildavaig Chartered Accountants 109/14 Swanston Road Edinburgh EH10 7DS
## **Bankers**
Bank of Scotland plc The Mound Edinburgh EH1 1YZ
3
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **REPORT OF THE TRUSTEES**
The Trustees have pleasure in presenting this report for the year ended 30 June 2025. This report is prepared in accordance with the Constitution and the recommendations of the Statement of Recommended Practice – Accounting and Reporting by Charities and complies with applicable law.
Despite challenging circumstances and increasing costs the financial picture at the Club is improving.
In the year we have formed a partnership with a group called Passion for Fusion, who are a membership of some 200 children from Western Africa. We have established a team named Hutchison Vale Fusion at Under 12s level and work with them on all things football. Together we are delivering a Festival of Football in Edinburgh in late June 2026.
Our female section of the Club is not as strong as it once was with only one team left at Under 16s level. We are looking to start a primary school age group from 18[th] April 2026 which is being delivered in conjunction with Planet Soccer.
Our youth section is thriving in terms of numbers, but we find it difficult to attract independent coaches with most of the younger teams now being run by groups of parents. Four of our age groups won their leagues in the season just finished, which is a remarkable achievement. Additionally, our under 17s won the Scottish Cup with our under 14s finishing Runners-up.
Two sides travelled abroad, our under 15s and under 13s, with the latter winning a prestigious tournament in France.
We also lost our treasurer of 30 years, Alan Lucas, to cancer. Alan will be a hard man to replace but after temporary stewardship we look to appoint Leslie Anderson soon.
Life as a voluntary group is not easy but our plans for the future, including forming a fundraising committee, should help and we hope to report a successful 2025-2026 financial year.
## **OBJECTIVES**
The charity’s objective is to promote participation in football to young people of all abilities. We aim to do this by providing training sessions, coaching and competitive matches in a safe and encouraging environment.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Association's head office is located at 49 Fords Road, Edinburgh, EH11 3HS, it is a registered incorporated charity in Scotland, no. SC051359, and is governed by its constitution as a SCIO and was established in 2021. The management of the Association is the responsibility of the Trustees (who are also known as Committee Members) and who are elected under the terms of the Constitution.
Responsibility for the day-to-day management is delegated to Tom Smith.
## **POLICIES**
## **Risk management**
The Trustees actively review the major risks which the Charity faces on a regular basis and have established policies to mitigate these.
## **Reserves policy**
The Directors do not have a formal reserves policy at this present time but have plans to develop a policy during the coming year.
4
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **Going concern**
The charity has net assets of £2,055 and net current assets of £2,055. The trustees have prepared financial forecasts to June 2026. These projections demonstrate that the charity will be able to meet all liabilities as they fall due and therefore continue as a going concern.
## **FINANCIAL REVIEW**
Total funds as at 30 June 2025 were £2,055.
## **PROVISION OF INFORMATION TO AUDITOR**
The level of income for the year was below the audit threshold so no audit is required.
## **TRUSTEES’ RESPONSIBILITIES**
The trustees 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 accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the Memorandum and Articles of Association of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities (Revised 2005) and with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Approved by the board of directors and signed on 30[th] March 2026 by:
Tom Smith _**(Trustee)**_
5
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **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 2025.
## **Respective responsibilities of trustees and examiner**
The charity’s directors are responsible for the preparation of the accounts in accordance with the terms of the Charities and Director Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Charity Directors consider that the audit requirement of Regulation 10(1) (d) of the Accounts 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 Charities Accounts (Scotland) Regulations 2006. 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 directors 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 gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or
2. Which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Graeme Henderson, CA Henderson Kildavaig Chartered Accountants 109/14 Swanston Road Edinburgh EH10 7DS
Relevant Professional Body: The Institute of Chartered Accountants of Scotland (ICAS)
Date
30[th] March 2026
6
## **Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025**
|**Note**
**Income from:**
**3**
Donations
Subscriptions
Other income (gift aid)
Fundraising
Sponsorship
Trading
**Total**
**Expenditure on:**
**4**
Raising funds
Charitable activities
**Total**
**Net income / (loss)**
**Reconciliation of funds:**
**Total Funds at 30 June 2024**
**Total Funds at 30 June 2025**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2025**
**Total**
**2024**
**£**
**£**
**£**
**£**
4,712
-
4,712
1,221
101,634
-
101,634
83,623
12,785
-
12,785
2,115
2,501
-
2,501
2,753
5,300
5,300
100
1,872
-
1,872
-|
|---|---|
||128,804
-
128,804
89,812|
||595
-
595
150
125,640
-
125,640
90,176|
||126,235
-
126,235
90,326|
||2,569
-
2,569
(514)|
|||
||(514)
-
(514)
(514)
**2,055**
**-**
**2,055**
**(514)**|
The statement of financial activities includes all gains and losses in the year.
7
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **BALANCE SHEET AS AT 30 JUNE 2025**
|**Notes**
**Fixed Assets**
**7**
Tangible assets
**Current Assets**
**8**
Debtors
Cash at bank and in hand
Total current assets
**Liabilities**
Creditors: amounts falling
due within one year
**9**
Net Current Assets
**Net Assets**
**Represented by**
**Unrestricted Funds**
Restricted funds
**10**
Unrestricted funds:
**11**
Designated funds
General funds
**Total Funds**
**12**|**2025**
**2024**
**£**
**£**
**-**
**-**
**-**
**-**
**4,455**
**86**|
|---|---|
||**4,455**
**86**
**(2,400)**
**(600)**|
||**2,055**
**(514)**|
||**2,055**
**(514)**|
||**-**
**-**
**-**
**-**
**-**
**-**
**2,055**
**(514)**|
||**2,055**
**(514)**|
Approved by the Trustees and signed on their behalf
Tom Smith Trustee
Date: 30[th] March 2026
8
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
**CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2025**
|**Reconciliation of net income to net cash flow from**
**operating activities**
Net income / (loss) as per the SOFA
**Adjustments for:**
Depreciation
(Gain) on disposal of fixed asset
Retention creditor expenditure
(Increase) / decrease in debtors
Increase / (decrease) in creditors
**Net cash provided by operating activities**
**Cash flows from investing activities**
Purchase of property, plant and equipment
Proceeds from sale of fixed assets
**Net cash provided by investing activities**
**Change in cash and cash equivalents**
Cash and cash equivalents at the end of the reporting
period|**2025**
**2024**
**£**
**£**
**2,569**
**(514)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**1,800**
**600**|
|---|---|
||**4,369**
**86**
**-**
**-**
**-**
**-**|
||**-**
**-**
**4,369**
**86**|
||**4,455**
**86**|
The notes on pages 10 to 14 form part of these financial statements.
9
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025**
## **1. PRINCIPAL ACCOUNTING POLICIES**
Hutchison Vale Community Football Club SCIO, which commenced operations on 1 July 2023, is a Scottish Charitable Incorporated Organisation. The address of the office registered with OSCR is given on the legal and administrative information page and the nature of charity’s operations and its principal activities are set out in the Report of the Trustees.
The financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015.
Hutchison Vale Community Football Club SCIO constitutes a public benefit 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 estimates. It also requires the trustees to exercise judgement in applying the charity’s accounting policies, as shown in note 2 below.
## **a) Going concern**
The charity has net assets of £2,055 and net current assets of £2,055. The trustees have prepared financial forecasts to 30 June 2026. These projections demonstrate that the charity will be able to meet all liabilities as they fall due and therefore continue as a going concern.
## **b) Income**
Donations and similar income are included in the year in which they are receivable, which is when the charity becomes entitled, receipt is probable and the amount can be measured reliably.
Investment income is credited to the Statement of Financial Activities as due and includes tax deducted or where appropriate, the imputed tax credits.
Donated goods and services are goods received for beneficiaries from charitable partners. Where an accurate value can be determined, gifts in kind are included in the Statement of Financial Activities within voluntary income at the current retail value. They are also included within charitable expenditure.
## **c) Expenditure**
All expenditure is included on an accruals basis and is recognised where there is a legal or constructive obligation to pay for expenditure.
Governance costs are charged directly to the Statement of Financial Activities when incurred and consist of audit fees. Governance costs will be allocated equally across raising funds and charitable activity expenditure.
Support costs consist of general expenditure charged directly to the Statement of Financial Activities when incurred and staff costs that have been allocated based on percentage usage.
Costs of raising funds consist of systematic fundraising practitioner fees as well as wages, allocated in line with the amount of time staff spent fundraising in the year.
10
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)**
## **1. PRINCIPAL ACCOUNTING POLICIES (continued)**
## **d) Tangible Fixed Assets**
Fixed assets are included in the balance sheet at cost. Depreciation is provided in the year in which the fixed assets are brought into use. The rates of depreciation used are calculated to 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 2% straight line
- - Fixtures and Equipment 20% straight line - Motor Vehicles 20% straight line
Land and assets under construction are not depreciated.
## **e) Operating leases**
Costs in respect of operating leases are charged to the income and expenditure account on a straightline basis over the lease term.
## **f) Cash and cash equivalents**
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
## **g) Restricted funds**
None at 30 June 2025.
## **h) Designated funds**
None at 30 June 2025.
## **i) Pensions**
No pension scheme was used for the year ending 30 June 2025.
## **j) Financial instruments**
Financial assets and financial liabilities are recognised when Hutchison Vale Community Football Club SCIO becomes a party to the contractual provisions of the instrument. Hutchison Vale Community Football Club SCIO only has financial assets and liabilities of a kind that qualify as basic financial instruments. Financial assets held by HVCFC at 30 June 2025 are cash. Financial liabilities held by HVCFC at 30 June 2025 are accruals. These are all presented on the face of the balance sheet. Financial assets and liabilities are measured at amortised cost.
11
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **2. JUDGEMENTS AND ESTIMATES**
The preparation of these financial statements has required the trustees to make judgements, estimates and assumptions that affect the application of policies and reported amounts. The areas involving a degree of judgement significant to the view given by these statements are:
- Tangible fixed assets are depreciated to reflect the use of the assets by the charity. Depreciation is calculated using the estimated useful economic life of the asset.
- Donated goods and services – gifts in kind received by the charity have been valued at the current retail value.
## **3. INCOME**
|Donations
Subscriptions
Other income (gift aid)
Fundraising
Sponsorship
Trading
**Total**
**.**
**EXPENDITURE**
Raising funds
Charitable activities||**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2025**
**Total**
**2024**
**£**
**£**
**£**
**£**
4,712
4,712
1,221
101,634
101,634
83,623
12,785
12,785
2,115
2,501
2,501
2,753
5,300
5,300
100
1,872
1,872
-|
|---|---|---|
|||128,804
128,804
89,812**-**
**Activities**
**undertaken**
**directly**
**Support**
**costs (note**
**4)**
**Total**
**2025**
**Total**
**2024**
**£**
**£**
**£**
**£**
595
-
595
150
97,458
28,183
125,640
90,176
98,052
28,183
126,235
90,326|
||||
## **4. EXPENDITURE**
## **5. SUPPORT COSTS**
|**Support cost**
Staff costs
Admin costs
Governance cost
**Total**|**Raising**
**funds**
**Charitable**
**activities**
**Total**
**2025**
**Total**
**2024**
**£**
**£**
**£**
**£**
-
-
-
-
-
28,183
28,183
9,278
-
-
-
-
-
28,183
28,183
9,278|
|---|---|
12
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## Governance costs comprise accountancy and independent examiner’s fees **6. STAFF NUMBERS AND COSTS**
|Wages and salaries
Social security costs
Pension contributions
Total staff costs|**2025**
**2024**
**£**
**£**
-
-
-
-
-
-
**-**
**-**|
|---|---|
The average number of employees during the year was 0 (2024 – 0).
No remuneration was paid to any Trustee. No Trustee received reimbursement of expenses for attending meetings.
## **7. TANGIBLE FIXED ASSETS**
|**Cost**
At 01 July 2024
Additions
Disposals
Transfer
**At 30 June 2025**
**Depreciation**
At 01 July 2024
Charge for the year
Depreciation on disposal
**At 30 June 2025**
**Net book value**
**At 30 July 2025**
**At 31 June 2024**|**Land &**
**Buildings**
**Fixtures &**
**Equipment**
**Motor**
**Vehicles**
**Total**
**£**
**£**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|
||**-**
**-**
**-**
**-**|
||-
-
-
-
-
-
-
-
-
-
-
-|
||**-**
**-**
**-**
**-**|
||-
-
-
-|
||**-**
**-**
**-**
**-**|
||-
-
-
-|
## **8. DEBTORS**
|Prepayments and accrued income|**2025**
**2024**
**£**
**£**
-
-
**-**
**-**|
|---|---|
13
**Hutchison Vale Community Football Club SCIO Report and Financial Statements Year ended 30 June 2025**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other taxation and social security
Accruals and other creditors|**2025**
**2024**
**£**
**£**
-
-
(2,400)
(600)
**(2,400)**
**(600)**|
|---|---|
## **10. RESTRICTED FUNDS**
|Fixed Assets|**2025**
**£**
**2024**
**£**
-
-
**-**
**-**|
|---|---|
A description of each fund is disclosed in note 1(g).
## **11. UNRESTRICTED FUNDS**
||||||**Transfers**||**At 30**|
|---|---|---|---|---|---|---|---|
|||**Income**||**Expendit**
**ure**|**between**
**funds**|**At 30 June**
**2025**|**June**
**2024**|
||||**£**|**£**|**£**|**£**|**£**|
|**General funds**||**128,804**||**126,235**|**-**|**2,055**|**(514)**|
|**2.**|**ANALYSIS OF ASSETS BETWEEN FUNDS**|||||||
|||||**Total**||**Total**|**Total**|
|||||**Unrestricted**|**Restricted**|**Funds**|**Funds**|
|||||**Funds**|**Funds**|**2025**|**2024**|
|||||**£**|**£**|**£**|**£**|
|Fixed assets||||**-**|**-**|**-**|**-**|
|Net|current assets|||**2,055**|**-**|**2,055**|**(514)**|
|||||**2,055**|**-**|**2,055**|**(514)**|
## **12. ANALYSIS OF ASSETS BETWEEN FUNDS**
14