CHARITY REGISTRATION NUMBER: SC052603 Love Oor Lang Toun SCIO Unaudited Financial Statements 31 March 2025 18 Nui Ill Sli eel, Gleniothes, Fife KY7 SNA 01592 610388 8 Mitchell Street. Leven, Fife KY8 4HI 01333 425250 www.patersonboyd.com PATERSON BOYD & CO CHARTERED CERTIFIED ACCOUNTANTS
Love Oor Lang Toun SCIO Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Love Oor Lang Toun SCIO Trustees, Annual Report Year ended 31 March 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and admlnlstrative details Reglstered charfty name Love Oor Lang Toun SCIO Charity registration nurnber SC052603 Principal office The trustees Independent examlner Paterson Boyd & Co Limited 18 North Street Glenrothes Fife KY7 SNA Structure, governance and management The charity is a Scottish Charitable Incorporated Organisation {SCIOI, incorporated on and registered as a charity on 7 June 2023. The charity is governed by reference to its Constitution and its Articles of Association. The trustees resolved to adopt amended Articles of Association on 22 August 2023. Trustee recruitment Prospective trustees will be interviewed before being copted with the agreement of the existing trustees. New trustees will be required to stand for election at the next AGM. Members may be nominated as a trustee in writing by not less than any two members. Trustee training Trustee training will be offered to familiarise new trustees with the work of the charity. Ongoing training will be provided as required.
Love Oor Lang Toun SCIO Trustees, Annual Report ltontinu) Year ended 31 March 2025 Structure, governance and management Icontlnuedj Health and safety The board of trustees is responsible for ensuring risk assessments and procedures are carried out and followed as required. Flnanclal controls Financial controls are in place and reviewed to ensure the mitigation of financial risks the charity may face. The charity's funding strate.gy is re.viewed at regular intervals as part of the financial report at trustee board meetings. Objectives and actlvltles Love Oor Lang Toun SCIO was set up to benefit the community of Kirkcaldy. Its purpose is to alleviate poverty and advance community development including sustainable community-led urban regeneration with a particular focus on the improvement of Kirkcaldy Town Centre in order to benefit the community and the public in general. The charity's focus is on economic growth, social cohesion and environmental sustainability. The charity aims to support businesses within the community, enhance public spaces and facilities. Achievements and performance During the year a new development manager was employed, one of whose immediate priorities was to develop a relationship with the local traders and to facilitate a traders, forum. In association with Fife Council, Love Oor Lang Toun is exploring the opportunity to develop a presence on the High Street by occupying an empty unit. Love Oor Lang Toun continues to support partner organisations such as Growing Kirkcaldy (finalist in Britain in Bloom), the Adam Smith Global Foundation, Kirkcaldy Lottery, K107 and Fife Council. Kirkcaldy's Christmas Lights switch on was organi5ed and successfully delivered by our development manager in a short space of time. The event brought many people to the Town Centre providing a boost for local businesses. Financial review Results for the financial year to 31 March 2025 are given in the Statement of Financial Activitie5 on page 6. The statement of Financial Activities shows a surplus of funds for the year of £2,505. Unrestricted fund5 total £2.505 and restricted funds total £Nil. Reserves policy The charity is committed to building and then retaining a constant surplus, equating to approximately three months costs, to reduce the risk of financial crisis situations or the need for potential redundancy.
Love Oor Lang Toun SCIO Trustees, Annual Report icoFthnued) Year ended 31 March 2025 Plans for future perlods Planning is well advanced for Lang Toun Fest, a programme of local events to be held in and around the Town Centre during the summer. Build on previous consultations working With partners to develop an updated Town Centre development programme. Work progresses for Love Oor Lang Toun to secure the lease on a unit on Kirkcaldy High Street which will further the charity's visibility and enable it to develop a presence and hub in the area. The trustees, annual report was apprnvp.d on 19 December 2025 and signed on behalf of the board of trustees bv: Trustee
Love Oor Lang Toun SCIO Independent Examiner's Report to the Trustees of Love Oor Lang Toun SCIO Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of Love Oor Lang Toun SCIO I'the charity'l for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland} Act 2005 (the '2005 Act'l and the Charities Accounts {Scotlandl Regulations 2006 {as amended). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination. I report in respect of my examination of the charity's financial statements as carried out under section 44{Illcl of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotlandl Regulations 2006 las amended). Independent examlner's statement Since the charity has prepared its accounts on an accruals basis your examiner must be a member of a body listed in Regulation 1112) of the Charities Accounts (Scotland) Regulations 2006 las amended). I can confirm that l am qualified to undertake the examination because l am a registered member of the Institute of Chartered Accountants in England and Wales IICAEW) which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect: accounting records were not kept as required by section 44{1)(a) of the 2005 Act and Regulation 4 of the Charities Accounts (Scotlandl Regulations 2006 las amended}. or the financial staternents do not accord with those records; or the financial statements do not comply with the accounting requirement5 of Regulation 8 of the Charities Accounts {Scotland) Regulations 2006 (as amended).
Love Oor Lang Toun SCIO Independent Examlner's Report to the Trustees of Love Oor Lang Toun SCIOicontlnuedJ Year ended 31 March 2025 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. Paterson Boyd & Co Limited Independent Examiner 18 North Street Glenrothes Fife KY7 SNA 19 December 2025
Love Oor Lang Toun SCIO Statement of Financial Activities Year ended 31 March 2025 2025 Restricted funds Total funds Unrestricted funds Note Income and endowments Donations and legacies Investment income 32,621 29 2,500 35,121 29 Total income 32,650 2,5LK) Expendlture Expend iture on charitable activities Total expendlture 30,063 2,582 32,645 30,063 2,582 32,645 Net Income 2,587 {82) 2,505 Transfers between funds 182) 82 Net movement in funds 2,505 2,505 Reconciliation of funds Total funds brought forward Total funds carried forward 2,505 2,505 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities, The notes on pages 8 to 13 form part of these financlal statements.
Love Oor Lang Toun SCIO Statement of Financlal Position 31 March 2025 2025 Note Current assets Cash at bank and in hand 4,101 Creditors: amounts falling due within one year 12 1,596 Net current assets 2,505 Total assets less current Ilabllltles 2,505 Net assets 2,505 Funds of the charlty Unrestricted funds 2,505 Total charity funds 14 2,505 These financial statements were approved by the board of trustees and authorised for issue on 19 December 2025, and are signed on behalf of the board by: Trustee The notes on pages 8 to 13 fomi part of these finala1 statements.
Love Oor Lang Toun SCIO Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entity, registered as a Scottish Charitable Incorporated Organisation ISCIOI and a registered charity in Scotland. The address of the registered office is 8 East Fergus Place, Kirkcaldy, Fife, KYI IXT. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 IFRS 102} {Charities SORP IFRS 1021) and the Charities and Trustee Investment {Scotland) Act 2005 and the Charity Account5 {Scotland} Regulations 2006 las amended). Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The charity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemption5 available under paragraph 1.12 of FRS 102: lal No cash flow statement has been presented for the company. Ibl Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Love Oor Lang Toun SCIO Notes to the Financial Statements f¢OntIn¢) Year ended 31 March 2025 Accounting policies (conthNdj Taxation The charity is exempt from tax on income and gains falling within section 505{11 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. Incomlng resources Donations, legacies and similar incoming resources are accounted for by the charity in the accounting period in which they are received. Grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. Investment income is accounted for as it is accrued to the charity.
Love Oor Lang Toun SCIO Notes to the Financial Statements fcontsnuedj Year ended 31 March 2025 Accounting policies (contthuedl Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activitie5 to which it relates: expenditure on raising funds include5 the costs of all fundraising activities, event5, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in underta king activities that further its charitable aims for the benefit of it5 beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value nd subsequently measured at their settlement value. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seniice is provided. Donatlons and legacies Unrestricted Funds Restricted Total Funds Funds 2025 Donations Donations 1,941 1,941 io
Love Oor Lang Toun SCIO Notes to the Financial Statements Icondnuedj Year ended 31 March 2025 Donations and legacies IntInued) Unrestricted Funds Restricted Total Funds Funds 2025 Grants Fife Council Fife Council - Christmas Lights 30,680 30,680 2,500 2,500 32,621 2,500 35,121 Investment income Unrestricted Total Funds Funds 2025 Bank interest receivable 29 29 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Charitable activities Support costs 28,485 1,578 2,582 31,067 1,578 30,063 2,582 32,645 Expenditure on charitable activities by artivity type Activities undertaken directly Support costs Total funds 2025 Charitable activitie5 Governance costs 31,067 31,067 1,578 1,578 31,067 1,578 32,645 Analysis of support costs Analysis of support costs Total 2025 Governance costs 1,578 1,578 li
Love Oor Lang Toun SCIO Notes to the Financial Statements (continuedj Year ended 31 March 2025 Independent examination fees 2025 Fees payable to the independent examiner for: Independent examination of the financial statements 840 10. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2025 Wages and salaries Employer contributions to pension plans 25,405 762 26,167 The average head count of employees during the year was l. No employee received employee benefits of more than £60,000 durin8 the year {2024: Nill. 11. Trustee remuneration and expenses During the year no expenses were reimbursed to trustees. No trustees received any remuneration from the charity during the year. 12. Creditors: amounts falling due within one year 2025 Accruals and deferred income Social security and other taxes 978 618 1,596 13. Penslons and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £762. 12
Love Oor Lang Toun SCIO Notes to the Financial Statements Icontlnuedj Year ended 31 March 2025 14. Analysis of charitable funds Unrestricted funds At 31 March 202 At l April 2024 Income Expenditure Transfers General funds 32.650 {30,063) (821 2,505 Restricted funds At 31 March 202 At l April 2024 Income Expenditure Transfers Christmas Lights 2,500 12,582) 82 15, Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Current assets Creditors less than l year 4,101 11,596) 4,101 {1,596) Net assets 2,505 2,505 13