**Charity registration number SC052816 (Scotland)**
## **ELLON WHEEL PARK GROUP**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **ELLON WHEEL PARK GROUP**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
|**Charity number (Scotland)**|SC052816|
|---|---|
|**Registered office**||
|**Independent examiner**|Findlays Audit Limited|
||11 Dudhope Terrace|
||Dundee|
||DD3 6TS|
|**Bankers**|Virgin Money|
||26 West High Street|
||Inverurie|
||AB51 3SL|
## **ELLON WHEEL PARK GROUP**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 5|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the financial statements|9 - 18|
## **ELLON WHEEL PARK GROUP**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees present their annual report and financial statements for the year ended 31 March 2025. The charity is registered with OSCR as a Scottish Charitable Incorporated Organisation and were set up and started operating on 13 September 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
To deliver the design and construction of a wheel park space in Ellon consisting of a pump track zone, cycle circuit zone and Skate/ BMX zone, and to manage the ongoing operation and development of the wheel park once it has been built.
The aim of the charity is to manage the design, construction and operation of a free to use Wheel Park sporting facility in the town of Ellon in Aberdeenshire.
The vision of the Ellon Wheel Park Group is to develop a multi-wheeled, multi-disciplined sport facility in Ellon that is accessible and inclusive to all and will inspire people to get on a bike, scooter, skateboard or skate. The overall purpose of the group is to build and operate a wheel park that is open and free to use for members of the public of all ages and abilities to enjoy and be active in.
Each stage of the project had that overall vision in mind. The facility should be accessible to all, have beginner’s areas as well as areas for those with more skills.
The wheel park should help people progress from total beginners to skilled wheeled sports stars. In addition, there should be areas where those with a disability or impairment can enjoy wheeled sports.
With this in mind the design of the park was crucial, ensuring that it included beginner’s areas and easily accessible areas as well as more testing areas for experts.
This design scope developed the costs for the project and the selection of contractors who were aligned with the aims. All throughout the construction process the overall vision and purpose of the park was referred to.
The project overall strategy was initially split into three main stages:
Stage 1 – Fact finding, feasibility and evaluation, initial design and permissions, and fund-raising stage Stage 2 – Detail design and construction of the wheel park Stage 3 – Operation of the wheel park
It became clear during Stage 1 that to ensure the funding could be achieved that stage 2 would have to be split into two phases:
Phase 1 – Design and construction of pump track and circuit Phase 2 – Design and construction of skatepark
While most of the work to deliver the project was to be carried out by volunteers in the group, it was decided a Project management consultant with experience of projects of this type would be contracted to assist with the feasibility study and assistance in sourcing funding for the project.
The criteria for success for construction of phase 1
- To build the wheel park phase 1 within the agreed budget
- To be open in time for the Ellon Gala Day 3 June 2024
- To have no injuries or safety related incidents during construction
- 1 -
## **ELLON WHEEL PARK GROUP**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
The criteria for success for the operational phase was:
- To have a summer (June 2024 to September 2024) full of activities to bring approximately 5000 visitors to the park.
- To hire out the wheel park to the local cycle club, Triathlon club, cycling UK and provide Limitless adaptive cycle session at the park.
- To liaise with stakeholders to ensure park is used and meets the needs of the community.
The Ellon Wheel Park Group is an entirely volunteer run group. There are no employees of the charity. Volunteers with a diverse range of skills, experience and knowledge are key at each step of the project. The group consists of volunteers providing a strong background in a range of skills including project management, artistic skills, communication, financial acumen, stakeholder liaison, vast cycling and skateboarding experience
## _Public benefit_
The trustees have paid due regard to guidance issued by OSCR in deciding what activities the charity should undertake.
The Wheel Park became operational during the year. Activity focused on its operation and maintenance, with expenditure mainly relating to running costs. Ongoing maintenance and operational costs are expected in future years.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
There have been many achievements in 2024/2025. Throughout the summer of 2023 fundraising was achieved for our expected capital cost of £755,000 to build phase 1 of the wheel park (the circuit and the pump track).
In September 2023 the group’s application for charitable status was approved by OSCR and the group became a SCIO (Ellon Wheel Park Group, SC052816).
The groups website was completed and can be found at the following address - www.ellonwheelpark.co.uk.
The group agreed the final designs of the park with Scottish Cycling and the construction company Velosolutions. A final design was agreed in January 2024 and the construction costs were agreed and funding locked in. With all funding in place it allowed the project to proceed with a positive cash flow balance.
Velosolution commenced construction of the wheel park in February 2024 with an expected conclusion date for phase 1 of May 2024. The Wheel Park opened to the public officially on 2nd June 2024 and was used at the gala day on 3rd June. There were no reported injuries during the construction of the park.
- Since opening in June 2024 there have been approximately 24,000 visitors to the wheel park.
- Ther is a regular adaptive cycling session held at the wheel park each Wednesday.
- The cycle club have hired the wheel park on a Saturday morning and Tuesday evening.
- Cycling UK have run learn to ride session at the wheel park.
- The park has been busy with a wide range of people from the community. Users range form small children learning to ride bikes to experienced mountain bikers using the pump track.
- 2 -
## **ELLON WHEEL PARK GROUP**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Financial review**
The financial activity in this period was split into two distinct areas
1. Capital expenditure for the completion of phase 1
2. Operational income and expenditure for the ongoing operation of the wheel park
All the capital income was already in place during this period as we had previously secured this funding.
The main sources of funding being:
_The Scottish Cycling/ Sportscotland Cycling Facilities Fund (CFF)_ – This fund was set up to build on the growing interest in cycling by developing a network of cycling facilities across Scotland and deliver a tangible benefit from the 2023 UCI Cycling World Championships in Glasgow and Scotland. It has been made possible through a £4million commitment from Scottish Government and £4million from sportscotland through National Lottery funds.
_The Aberdeenshire Place Based Investment Programme (PBI)_ – This fund was set up to support projects which will help drive economic recovery, improve town centres and support regeneration projects.
All the funding and expenditure was used in this period except for £15,000 from the PBI fund which was held back to be used as a retention for the main contractor after a year in operation
For the operational phase of the project the funding for maintenance, Insurance and other operational expenditure will be derived from a number of main sources. These are:
- Hire of the facility to groups and coaches. Although the facility is free to use for the public at certain times the park facilities can be hired for activities such as group cycling training, learn to ride sessions, roller skiing etc
- Event fundraisers such as sponsored cycles, pedal car race, youth cycle races etc
- Public and outside group donations. There is a just giving page set up for those that wish to donate and some of the EWPG committee volunteer at other events outside the wheel park to generate income for the park.
The financial position of the charity is detailed in the Statement of Financial Activities and Statement of Balances on pages 7 and 8. Overall, the funds available to the charity are £731,567 (2024: £626,649). Most of these funds have been received in Grants towards the construction of the Wheel Park and are held in Restricted funds, £712,959 (2024: £616,722) for that purpose. Unrestricted funds are £18,608 (2024: £9,927) and are mainly from general donations and other fund raising which can be used by the charity for any purpose permitted by its constitution.
The charity has net Fixed Tangible Assets of £733,359 (2024: £516,112) as will be shown on the Statement of Balances. This represents the Wheel Park construction costs expended by the year end. The Wheel Park is expected to have a useful life of 25 years, so this cost will be written off to the Statement of Financial activities in equal annual instalments as Depreciation over that 25 year period, in accordance with accounting policies. The majority of the Restricted funds will reduce over the next 25 years in line with the annual Depreciation charge. Unrestricted funds where available will be used for park maintenance.
- 3 -
## **ELLON WHEEL PARK GROUP**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## _Going concern_
At 31st March 2025 the total liabilities of the charity represent 3.98% (2024: 38.9%) of the total available assets of the charity. The charity is therefore very strongly placed to meet its financial debts and obligations against this backdrop.
The Trustees believe that the Charity is well placed to manage its business risks successfully and has taken action to strengthen the profile of the charity and develop its ability to generate increased levels of fundraised income and donations.
With full control over primary expenditure and liabilities in the form of grant funding awards, the charity is in a clear position to ensure that its liabilities are managed to ensure they do not exceed available assets. The Trustees therefore have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and continue to adopt the going concern basis in preparing financial statements.
## _Reserves policy_
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a minimum of £5,000. The trustees consider that reserves at this level will ensure that the charity can continue to provide a service to the local community and meet the running costs of the Wheel park.
## **Plans for future periods**
The construction of phase 1 was completed and opening day took place at Elion Gala in June 2024. The tender process, detailed design and fundraising is to start for Phase 2 (skatepark) once the initial phase is complete.
Ongoing fundraising and hire of the facility will ensure operational costs including third party liability insurance, grass and landscaping and overall maintenance can be met.
Ongoing hire periods for the circuit are to be agreed with potential user groups such as; Ythan Cycle Club, Grampian Disability Sport, Cycling UK. Trythan triathlon club.
Continued grant applications for ancillary equipment such as seating, rubbish bins etc.
## **Structure, governance and management**
The Charity’s constitution was registered with the Scottish Charity Regulator on 13 September 2023 as a Scottish Charitable Incorporated Organisation in accordance with the Charities and Trustee Investment (Scotland) Act 2005.
The trustees who served during the year and up to the date of signature of the financial statements were:
- 4 -
## **ELLON WHEEL PARK GROUP**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## _Recruitment and appointment of trustees_
The minimum number of trustees is according to the constitution is 5 and the maximum number is 12.
The board may at any time appoint any person to be a trustee - by way of a resolution passed by majority vote at a board meeting. At the conclusion of each AGM any trustees appointed during the period since the preceding AGM (but excluding those re-appointed during that period) shall retire from office. Out of the remaining trustees, one third (to the nearest round number) shall retire from office. The trustees to retire shall be those who have been longest in office since they were last appointed or re-appointed; as between persons who were last appointed/re-appointed on the same date, the question of which of them is to retire shall be determined by some random method.
A trustee who retires from office at the conclusion of an AGM shall be eligible for re-appointment at the next board meeting. A trustee vacating office at the conclusion of an AGM will be deemed to have been re-elected at the board meeting which next follows unless they advise the board that they do not wish to be re-appointed; or a resolution for the re-appointment of that trustee was put to the board meeting and was not carried.
## _Organisational structure_
The structure of the organisation consists of the Board - of which all trustees are members - who hold regular meetings, and generally control the activities of the organization. For example, the board is responsible for monitoring and controlling the financial position of the organisation.
The Board must elect from amongst themselves a Chair, Treasurer and a Secretary. They may elect further officebearers from amongst themselves if they consider that appropriate. All office bearers will cease to hold office at the conclusion of each AGM, but may then be re-elected.
## _Induction and training of trustees_
The committee for the Ellon Wheel Park Group is made up of individuals with a wide range of skills, experience and knowledge. When they decide they wish to become trustees, they are directed to the OSCR website where the trustee duties are detailed and to the OSCR document “Guidance and good practice for charity Trustees”. Each trustee is required to sign that they have read and understood these requirements.
Any other training requirements that are requested or deemed necessary for volunteers are considered on a caseby-case basis.
The trustees' report was approved by the Board of Trustees.
2 December 2025
- 5 -
## **ELLON WHEEL PARK GROUP**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ELLON WHEEL PARK GROUP**
I report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages 7 to 18.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.
It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking 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 financial statements.
## **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 Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
- to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
- have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
## **Findlays Audit Limited**
11 Dudhope Terrace Dundee DD3 6TS 2 December 2025
- 6 -
## **ELLON WHEEL PARK GROUP**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Notes**
**Income from:**
Donations and legacies
**3**
Charitable activities
**4**
Investments
**5**
**Total income**
**Expenditure on:**
Charitable activities
**6**
**Total expenditure**
**Net income and movement in**
**funds**
**Reconciliation of funds:**
Fund balances at 1 April 2024
**Fund balances at 31 March**
**2025**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2025**
**2025**
**£**
**£**
6,374
129,521
6,397
-
273
-
13,044
129,521
4,363
33,284
4,363
33,284
8,681
96,237
9,927
616,722
18,608
712,959|**Total**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
135,895
15,951
616,722
6,397
-
-
273
-
-
142,565
15,951
616,722
37,647
6,024
-
37,647
6,024
-
104,918
9,927
616,722
626,649
-
-
731,567
9,927
616,722|**Total**
**2024**
**£**
632,673
-
-|
|---|---|---|
|||632,673
6,024|
|||6,024|
|||626,649
-|
|||626,649|
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 9 to 18 form part of these financial statements.
- 7 -
## **ELLON WHEEL PARK GROUP**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**
**Net current (liabilities)/assets**
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**15**
Unrestricted funds
**16**|**2025**
**£**
2,633
26,076
28,709
(30,501)|**2024**
**£**
**£**
733,359
199,566
181,708
381,274
(270,737)
(1,792)
731,567
712,959
18,608
731,567|**£**
516,112
110,537
626,649
616,722
9,927
626,649|
|---|---|---|---|
The notes on pages 9 to 18 form part of these financial statements.
The financial statements were approved by the trustees on 2 December 2025
- 8 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
Ellon Wheel Park Group is a Scottish Charitable Incorporated Organisation registered in Scotland and was set up on 13 September 2023. The principal address is 25 Carolines Crescent, Ellon, Aberdeenshire, AB41 8BN.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Donated professional services and donated facilities are recognised as income when the charity has control over the item, and any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer’s time is not recognised. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
- 9 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Costs of raising funds comprise of the costs of undertaking fund raising activities and events.
Expenditure on charitable activities includes the costs of maintenance and repair of the wheel park and depreciation, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity and cost for which the expenditure was incurred.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity’s programmes and activities.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Wheel Park
25 years straight line over term of lease
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
The Wheel Park became operational during the period and is now being depreciated in accordance with the charity’s fixed asset policy over its estimated useful life. In the previous year, no depreciation was applied as the facility was not yet in use.
The charity have a capitalisation policy of £1,000, any costs below this amount will be expensed.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 10 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
- 11 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **Critical judgements**
## **Depreciation**
Tangible fixed assets are depreciated over a period to reflect their estimated useful lives. The applicability of the assumed lives is reviewed annually, taking into account factors such as physical condition, maintenance and obsolescence.
Fixed assets are also assessed as to whether there are indictors of impairment. This assessment involves consideration of the economic viability of the purpose for which the asset is used.
## **3 Income from donations and legacies**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
6,374
-
Grants
-
129,521
6,374
129,521
**Donations and gifts**
Arnold Clark
-
-
Rotary
-
-
Ellon Parks Improvement
Committee
-
-
Donations under £1,000
2,724
-
Undy Community Group
1,980
-
Ythan Cycling Club
1,670
-
6,374
-|**Total**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
6,374
15,951
-
129,521
-
616,722
135,895
15,951
616,722
-
1,000
-
-
1,500
-
-
3,656
-
2,724
9,795
-
1,980
-
-
1,670
-
-
6,374
15,951
-|**Total**
**2024**
**£**
15,951
616,722|
|---|---|---|
|||632,673|
|||1,000
1,500
3,656
9,795
-
-|
|||15,951|
- 12 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **3 Income from donations and legacies**
|**Income from donations and legacies**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**Grants**
Aberdeenshire Council
-
16,739
Sports Scotland
-
112,782
Landfill Communities
Fund
-
-
-
129,521
**Income from charitable activities**
**Charitable activities**
Hire of Wheel Park
**Income from investments**
Interest receivable|**(Continued)**
**Total Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
16,739
-
302,952
302,952
112,782
-
287,218
287,218
-
-
26,552
26,552
129,521
-
616,722
616,722
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
6,397
-
**Unrestricted Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
273
-|
|---|---|
## **4 Income from charitable activities**
## **5 Income from investments**
- 13 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **6 Expenditure on charitable activities**
|||**Charitable**|**Charitable**|
|---|---|---|---|
|||**activities**|**activities**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Depreciation and impairment|30,557|-|
||Meeting rooms|-|24|
||Insurance|2,368|-|
||Repairs and maintenance|2,847|-|
|||35,772|24|
||**Share of support and governance costs (see note 7)**|||
||Governance|1,875|6,000|
|||37,647|6,024|
||**Analysis by fund**|||
||Unrestricted funds|4,363|6,024|
||Restricted funds|33,284|-|
|||37,647|6,024|
|**7**|**Support costs allocated to activities**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Governance costs|1,875|6,000|
||**Analysed between:**|||
||Charitable activities|1,875|6,000|
|||**2025**|**2024**|
||**Governance costs comprise:**|**£**|**£**|
||Audit fees|-|6,000|
||Independent examination fees|1,875|-|
|||1,875|6,000|
- 14 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**8**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets
**9**
**Trustees**|**2025**
**£**
**2024**
**£**
1,875
6,000
30,557
-|
|---|---|
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **10 Employees**
|The average monthly number of employees during the year was:
Total
There were no employees whose annual remuneration was more than £60,000.
**Remuneration of key management personnel**
Key management personnel are considered to be the trustees and they
received no remuneration in the period.|**2025**
**Number**
-|**2024**
**Number**
-|
|---|---|---|
||||
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **12 Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
||**Wheel Park**|
||**£**|
|**Cost**||
|At 1 April 2024|516,112|
|Additions|247,804|
|At 31 March 2025|763,916|
|**Depreciation and impairment**||
|Depreciation charged in the year|30,557|
|At 31 March 2025|30,557|
|**Carrying amount**||
|At 31 March 2025|733,359|
|At 31 March 2024|516,112|
- 15 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**13**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
Trade creditors
Accruals and deferred income|**2025**
**£**
2,633
**2025**
**£**
23,596
6,905
30,501|**2024**
**£**
199,566
**2024**
**£**
264,737
6,000
270,737|
|---|---|---|
## **15 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|
||**2024**|**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
||-|-|109|109|
|Capital project|616,722|127,361|(31,233)|712,850|
|NESTRANS line painting fund|-|2,160|(2,160)|-|
||616,722|129,521|(33,284)|712,959|
|**Previous period:**|**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|Capital project|-|616,722|-|616,722|
## **Purposes of restricted funds**
Capital project - this represents funding received from Aberdeenshire Council and Sports Scotland who provided funding to allow the construction of the Wheel Park in Ellon. Future depreciation of the assets connected with the construction will be offset against the restricted fund.
Line Painting Fund – This represents funding received from Aberdeenshire Council through NESTRANS to allow line painting works to be carried out at the Wheel Park in Ellon. Expenditure relating to the line painting will be offset against the restricted fund.
- 16 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **16 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|
||**2024**|**resources**|**expended**||**2025**|
||**£**|**£**|**£**|**£**|**£**|
|Sinking fund|-|-|-|3,000|3,000|
|General funds|9,927|13,044|(4,363)|(3,000)|15,608|
||9,927|13,044|(4,363)|-|18,608|
|**Previous period:**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
||**2023**|**resources**|**expended**||**2024**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|-|15,951|(6,024)|-|9,927|
A designated fund has been established to build up a sinking fund over a 25-year period, commencing in 2024/25, to meet the potential cost of restoring the park to its original condition at the end of the lease term should an extension not be granted.
## **17 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**At 31 March 2025:**
Tangible assets
-
733,359
Current assets/(liabilities)
18,608
(20,400)
18,608
712,959
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 March 2024:**
Tangible assets
-
516,112
Current assets/(liabilities)
9,927
100,610
9,927
616,722|**Total**
**2025**
**£**
733,359
(1,792)
731,567
**Total**
**2024**
**£**
516,112
110,537
626,649|
|---|---|
- 17 -
## **ELLON WHEEL PARK GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **18 Capital commitments**
The charity has committed to building up a sinking fund over 25 years, starting in the 2024/25 financial year to meet the cost of restoring the park back to its original condition at the end of the lease term if an extension to the lease is not granted. This will be placed in an interest bearing deposit account. The amount in the fund will be reviewed annually to ensure it will meet the commitment at the end of the 25 year period if required.
## **19 Related party transactions**
There were no disclosable related party transactions during the year (2024: £Nil).
- 18 -
I