REGISTERED COMPANY NUMBER: CS007059 (Scotland) REGISTERED CHARITY NUMBER: SCO53592
Report of the Trustees and Unaudited Financial Statements For The Period 23rd August 2024 to 31st October 2025 for NEWTONMORE GOLF CLUB SCIO
Goldwells 15-17 High Street Kingussie Inverness-Shire PH21 1HS
NEWTONMORE GOLF CLUB SCIO
Contents of the Financial Statements For The Period 23rd August 2024 to 31st October 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Notes to the Financial Statements | 9 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
NEWTONMORE GOLF CLUB SCIO
Report of the Trustees
For The Period 23rd August 2024 to 31st October 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 23rd August 2024 to 31st October 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
Incorporation
The charitable company was incorporated on 23rd August 2024 and commenced trading on 1st November 2024.
Reference and administrative details Registered Company number
CS007059 (Scotland)
Registered Charity number SCO53592
Registered office
Golf Course Road Newtonmore Highland PH20 1AT
Trustees
| Trustees | |
|---|---|
| E Cheyne | - appointed 23.8.24 |
| D Murray | - appointed 23.8.24 |
| C Girdler | - appointed 23.8.24 |
| D Stewart | - appointed 23.8.24 |
| G Lennox | - appointed 23.8.24 |
| - resigned 26.10.25 | |
| D Mackintosh | - appointed 23.8.24 |
| - resigned 26.10.25 | |
| P Grace | - appointed 9.6.25 |
| S Phillips | - appointed 9.6.25 |
| - resigned 26.10.25 | |
| A McGill | - appointed 26.10.25 |
| R Sellar | - appointed 26.10.25 |
| G McGill | - appointed 26.10.25 |
| L Skudos | - appointed 26.10.25 |
| N A Nicol | - appointed 26.10.25 |
| G Roxburgh | - appointed 26.10.25 |
| S Croft | - appointed 26.10.25 |
Company Secretary
Independent examiner
Lorna Drummond FCCA Goldwells 15-17 High Street Kingussie Inverness-Shire PH21 1HS
Structure, governance and management
Governing document
The charity is a Scottish Incorporated Organisation (SCIO). It was incorporated as a SCIO on 23 August 2024, the former golf club membership approved a resolution to transfer the assets and liabilities of the former members club which operated as an unincorporated association to the SCIO.
Page 1
NEWTONMORE GOLF CLUB SCIO
Report of the Trustees
For The Period 23rd August 2024 to 31st October 2025
Structure, governance and management
Recruitment and appointment of new trustees
The trustees who promoted the application to become a SCIO became the initial charity trustees: Derek Mackintosh; Duncan Murray; Ellen Cheyne; Charles Girdler; Gordon Lennox and Duncan Stewart. The SCIO commenced operation on 1 November 2024.
The charity trustees appointed Phil Grace and Sue Phillips as additional trustees. Prior to the General Meeting held on 26 October 2025 nominations were sought for charity trustees and twelve members were nominated. Derek Mackintosh, Gordon Lennox and Sue Phillips did not put themselves forward for re-election. At the meeting on 26 October 2025 all 12 nominated charity trustees were elected - Phil Grace; Duncan Murray; Ellen Cheyne; Charles Girdler; Alistair McGill; George McGill; Nigel Nicol; Robert Sellar; Laurie Skuodas; Duncan Stewart; Sarah Croft and Gus Roxburgh. Phil Grace and Duncan Murray were elected respectively as Captain and Treasurer. The required details for all the trustees have been submitted to OSCR through OSCR online.
Thanks should be recorded to Derek Mackintosh who was elected as first Captain of the SCIO for his considerable efforts in steering the SCIO through its first year of operation.
Organisational structure
The SCIO constitutes a management tier (the Trustees) overseeing an operations tier that co-ordinates the day to day running of the golf club. The process for nomination as a potential Trustee is detailed within the constitutional documents.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Objectives and activities
Objectives and aims
The object of the charity is in terms of the constitution to -
"1. To encourage the advancement of public participation in the sport of golf in the community of Newtonmore, the surrounding area and also nationally.
- To provide recreational facilities, activities and training with the object of improving the fitness, health and well-being of the persons for whom the facilities and activities are intended.
to be exercised following the principles of sustainable development (where sustainable development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs)."
Public benefit
We have taken guidance contained in OSCR's general guidance on public benefit and we refer to it when reviewing our aims and objectives and in the planning of our future activities.
The key objective of the golf club is the advancement of public participation in sport.
The SCIO's principal beneficiaries are therefore the local general public and the main benefit provided is sport and exercise.
To monitor the progress of the SCIO in terms of the delivery of public benefit the trustees use various measures to evaluate this successs, these include gathering evidence and information on the number of members and membership feedback.
Page 2
NEWTONMORE GOLF CLUB SCIO
Report of the Trustees
For The Period 23rd August 2024 to 31st October 2025
Achievement and performance
Charitable activities
The Charity Trustees followed through on the plan to market the cottage, Spey View, for sale and this achieved a satisfactory price at a closing date. A small plot of land was also sold at the willing buyer willing seller valuation provided by DM Hall surveyors. The realisation of these assets to produce funds gave the SCIO a much needed financial cushion.
The trustees explored the possibilty of utilising some of the fields owned by the SCIO adjacent to the golf course as a solar farm which would provide extra income to promote the aims of the charity. Unfortunately although the prospective developers identified the site as viable for development there is presently no capacity for grid connection this cannot currently be progressed and must await improvements to grid infrastructure.
The golf course has been well used over the first year of the SCIO for social and competitive golf and practice. Golf week which opens on the first Saturday of August was well attended and benefited from good weather with the exception of the Monday. Credible numbers took part and a convivial time was had by those participating. In addition to golf week a number of open competitions were organised and club competitions took place on a weekly basis. Given the limited resources available for the club the greenkeeping staff are to be congratulated on the condition of the course over the season and many plaudits were received from both members and visitors of on the excellent golfing experience which the course offers.
Club members participated in the rejuvenated Badenoch league which involved twelve a side team matches with Grantown and Spey GC, Boat of Garten G&TC, Spey Valley GC and Kingussie GC .
The clubhouse has supported various community events ranging from Scrabble and quizzes to toddlers groups and as a venue for local company business meetings and funeral teas.
Members
At 31 October there were 185 members of the SCIO 152 men and 33 women.
There is an active and thriving junior section with 60 boys and 10 girls. 30 boys and 9 girls signed up for the learn to golf programme. This caters for starters and the Friday afternoon sessions are well attended and brilliantly supported by Dougie Johnson and the team of volunteer coaches and supervisors from the community. The juniors have also benefited from coaching provided by the roving pro arranged with the assistance of Scottish Golf. The SCIO has a mixture of right handed and left handed golf clubs of various sizes which are lent out or available for participants in the learn to golf programme.
The Scottish Golf VMS (Venue Management System) has been installed which will replace Club v1 and BRS for competition and booking arrangements.
Financial review
Reserves policy
Reserves will reinvested into the charity for continuing and future benefit.
Financial Position
During the period, Newtonmore Golf Club generated £364,982 of income and this funded £217,308 of expenditure on its charitable activities.
The net surplus for the financial period was £292,674 which includes a £145,000 gain on sale of land and buildings.
The net surplus also includes a donation of £181,669 from the former unincorporated Newtonmore Golf Club which reflects the transfer of assets to the SCIO.
All the funds of the SCIO are unrestricted
Future developments
The trustees plan to seek to formalise a concession arrangement for clubhouse bar and catering operations for the season commencing in April 2026. It is important to have available a dependable and quality bar and catering offering as adjunct to but separate from to the SCIO to support members and visitors.
In order to increase participation and generate more revenue the trustees are seeking to improve the marketing of the club and course with a view to increasing participation by improving visitor numbers and the numbers participating in golf week and open competitions. It is also hoped that the community focus of the SCIO will encourage more local business to provide sponsorship.
Improvements to the website and greater activity on social media should increase visibility of the SCIO and its objectives to the local community and to golfers more generally. The trustees are also looking to expand on golfer / fitness development in terms of the purpose of the charity.
Page 3
NEWTONMORE GOLF CLUB SCIO
Report of the Trustees For The Period 23rd August 2024 to 31st October 2025
Approved by order of the board of trustees on 8th March 2026 and signed on its behalf by:
P Grace - Trustee
Page 4
Independent Examiner's Report to the Trustees of Newtonmore Golf Club SCIO
I report on the accounts for the period 23rd August 2024 to 31st October 2025 set out on pages six to twelve.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) 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 the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). 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 seeking explanations from you as 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 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 to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Lorna Drummond FCCA Goldwells 15-17 High Street Kingussie Inverness-Shire PH21 1HS
8th March 2026
Page 5
NEWTONMORE GOLF CLUB SCIO
Statement of Financial Activities
For The Period 23rd August 2024 to 31st October 2025
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| Incoming resources | ||
| Incoming resources from generated funds | ||
| Voluntary income | 314,326 | |
| Activities for generating funds | 2 | 5,032 |
| Investment income | 3 | 102 |
| Incoming resources from charitable activities | ||
| Charitable activities | 36,538 | |
| Other incoming resources | 8,984 | |
| Total incoming resources | 364,982 | |
| Resources expended | ||
| Charitable activities | ||
| Depreciation | 13,484 | |
| Charitable activities | 197,831 | |
| Gain on sale of building | (145,000) | |
| Support costs | 1,508 | |
| Governance costs | 4,485 | |
| Total resources expended | 72,308 | |
| Net incoming resources | 292,674 | |
| Total funds carried forward | 292,674 |
The notes form part of these financial statements
Page 6
NEWTONMORE GOLF CLUB SCIO
Balance Sheet At 31st October 2025
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| Fixed assets | ||
| Tangible assets | 7 | 186,742 |
| Current assets | ||
| Stocks | 3,364 | |
| Debtors | 8 | 861 |
| Cash at bank | 9 | 125,460 |
| 129,685 | ||
| Creditors | ||
| Amounts falling due within one year | 10 | (21,235) |
| Net current assets | 108,450 | |
| Total assets less current liabilities | 295,192 | |
| Creditors | ||
| Amounts falling due after more than one year | 11 | (2,518) |
| Net assets | 292,674 | |
| Funds | 12 | |
| Unrestricted funds | 292,674 | |
| Total funds | 292,674 |
The notes form part of these financial statements
continued...
Page 7
NEWTONMORE GOLF CLUB SCIO
Balance Sheet - continued At 31st October 2025
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st October 2025.
The members have not required the company to obtain an audit of its financial statements for the period ended 31st October 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements were approved by the Board of Trustees on 8th March 2026 and were signed on its behalf by:
P Grace -Trustee
The notes form part of these financial statements
Page 8
NEWTONMORE GOLF CLUB SCIO
Notes to the Financial Statements
For The Period 23rd August 2024 to 31st October 2025
1. Accounting policies
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost Fixtures and fittings - 20% on cost Buggies - 20% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. Activities for generating funds
£ Shop income 5,032
Page 9
NEWTONMORE GOLF CLUB SCIO
Notes to the Financial Statements - continued
For The Period 23rd August 2024 to 31st October 2025
3. Investment income
Deposit account interest
£ 102
4. Net incoming/(outgoing) resources
Net resources are stated after charging/(crediting):
| £ | |
|---|---|
| Depreciation - owned assets | 13,484 |
| Hire of plant and machinery | 8,142 |
| Other operating leases | 24,563 |
| Surplus on disposal of fixed asset | (145,000) |
| Other pension costs | 1,851 |
5. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the period ended 31st October 2025.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31st October 2025.
6. Staff costs
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the period was as follows: Administration & Course |
£ 68,847 12,034 1,851 |
|---|---|
| 82,732 | |
| 3 |
No employees received emoluments in excess of £60,000.
Page 10
NEWTONMORE GOLF CLUB SCIO
Notes to the Financial Statements - continued
For The Period 23rd August 2024 to 31st October 2025
| 7. Tangible fixed assets Freehold Plant and Fixtures and property machinery fittings £ £ £ Cost At 23rd August 2024 169,898 17,175 7,283 Additions - - - Disposals (1,000) - - At 31st October 2025 168,898 17,175 7,283 Depreciation Charge for year - 7,922 3,493 Net book value At 31st October 2025 168,898 9,253 3,790 8. Debtors: amounts falling due within one year Other debtors 9. Cash at bank Bank account Commercial account Bond deposit Junior funds Total 10. Creditors: amounts falling due within one year Hire purchase Trade creditors Taxation and social security Other creditors 11. Creditors: amounts falling due after more than one year Hire purchase |
Buggies Totals £ £ 870 195,226 6,000 6,000 - (1,000) 6,870 200,226 2,069 13,484 4,801 186,742 £ 861 Total funds £ 3,197 35,102 85,000 2,161 125,460 £ 4,317 10,094 213 6,611 21,235 £ 2,518 |
|---|---|
Page 11
NEWTONMORE GOLF CLUB SCIO
Notes to the Financial Statements - continued
For The Period 23rd August 2024 to 31st October 2025
12. Movement in funds
| Net movement | |||
|---|---|---|---|
| in funds | At 31.10.25 | ||
| £ | £ | ||
| Unrestricted funds | |||
| General fund | 292,674 | 292,674 | |
| TOTAL FUNDS | 292,674 | 292,674 | |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 364,982 | (72,308) | 292,674 |
| TOTAL FUNDS | 364,982 | (72,308) | 292,674 |
Page 12
NEWTONMORE GOLF CLUB SCIO
Detailed Statement of Financial Activities For The Period 23rd August 2024 to 31st October 2025
£
| Incoming resources Voluntary income Donations Gift aid Newtonmore golf club donation Subscriptions Visitors Activities for generating funds Shop income Investment income Deposit account interest Incoming resources from charitable activities Club competitions Golf week Lockers Open competitions Sponsorship Miscellaneous income Other incoming resources Equipment hire Rental income Total incoming resources Resources expended Charitable activities Wages Social security Pensions Contractor Equipment leasing Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Shop purchases Carried forward |
39,030 7,392 181,669 40,337 45,898 |
|---|---|
| 314,326 5,032 102 3,917 8,428 2,147 8,080 11,616 2,350 |
|
| 36,538 6,249 2,735 |
|
| 8,984 | |
| 364,982 68,847 12,034 1,851 8,142 24,563 4,342 6,516 19,843 1,743 1,194 400 552 3,023 153,050 |
This page does not form part of the statutory financial statements
Page 13
NEWTONMORE GOLF CLUB SCIO
Detailed Statement of Financial Activities For The Period 23rd August 2024 to 31st October 2025
| Charitable activities Brought forward Affiliation fees Clubhouse repairs Computer software Council tax Course maintenance Engraving Licences & entertainment Prize vouchers Social events Subscriptions Plant & machinery depreciation Fixtures depreciation Buggies depreciation Governance costs Accountancy Legal fees Support costs Finance Bank charges Credit card charges Other Gain on sale of building Total resources expended Net income |
£ 153,050 3,809 3,001 2,724 1,462 23,430 795 501 8,245 117 647 7,922 3,493 2,069 211,265 1,757 2,728 4,485 453 1,105 1,558 (145,000) 72,308 292,674 |
|---|---|
This page does not form part of the statutory financial statements
Page 14