**Charity number SC037822**
## **KIRKCALDY ART CLUB**
## **REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31 MARCH 2026**
**BROWN, SCOTT & MAIN**
**Chartered Accountants**
## **KIRKCALDY ART CLUB**
## **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
|**CONTENTS**||
|---|---|
||**Page**|
|Trustees and officers|2|
|Report of the trustees|3 - 4|
|Independent examiner’s report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Accounting policies|8 - 9|
|Notes to the financial statements|9 -10|
1
## **KIRKCALDY ART CLUB**
## **TRUSTEES AND OFFICERS**
**CHAIR VICE CHAIR SECRETARY TREASURER**
**OTHER TRUSTEES**
**SCOTTISH CHARITY NUMBER**
**REGISTERED OFFICE**
## **INDEPENDENT EXAMINER**
**BANKERS**
Anne McAlpine
Ann Greger Liz Mitchell
Lynn Robertson
Kathy Butcher Angela Marry Cheryl Stewart Jo Campbell June Burns Hollie Sword Sharon Bell Graeme Ness Deirdre Jablonska Mary Hershaw Sandra MacDonald
SC 037822
Hot Pot Wynd Dysart Kirkcaldy
William Main MA CA 31 Townsend Place Kirkcaldy
TSB Bank plc High Street Kirkcaldy
2
## **KIRKCALDY ART CLUB**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2026**
The trustees present their annual report and financial statements of the charity for the year ended 31 March 2026. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 and 10.
## **CURRENT TRUSTEES**
The trustees currently holding office are listed on page 2.
## **RECRUITMENT AND APPOINTMENT OF TRUSTEES**
The Club’s annual general meeting took place on 15 May 2025 and the following changes in trustees holding office took place on that date:
- Four members of the committee stood down at the AGM: Martine Greig, Simon Ward, June Cunningham and Dorothy Black; and Maureen Butcher stood down on 11 March 2025.
- Anne McAlpine continued as Chair and Ann Greger continued as Vice Chair.
## **GOVERNING DOCUMENT**
The Club is an unincorporated charity and the purposes and administration arrangements are set out in its constitution. During the year the charity gained approval to become a Scottish Charitable Incorporated Organistation (SCIO) and all its activities, assets (with the exception of its heritable property), and liabilities have been transferred to that organisation.
## **ORGANISATIONAL STRUCTURE**
The Club is supervised and managed by a committee of members presided over by a Chairperson. Other office bearers comprise Vice Chair, Secretary and Treasurer.
## **ACTIVITIES AND ACHIEVEMENTS**
All activities, assets (with the exception of the heritable property), and liabilities have been transferred to and included within the new Scottish Charitable Incorporated Organisation (SCIO), SCIO registered number SC054204. The trustees are in the process of managing the transfer of the charity’s heritable property to the new SCIO.
## **RESERVES POLICY**
The charity’s reserves have been transferred to the new SCIO. Its largest fixed asset is the Club premises, which is owned and managed by the Trustees, and which is in the process of being transferred to the SCIO.
3
## **KIRKCALDY ART CLUB**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2026 (continued)**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and UK Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing the financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgements and 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.
We, the trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable us to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005; the Charities Accounts (Scotland) Regulations 2006 (as amended); and 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) (effective 1 January 2019). We 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.
**ANNE MCALPINE CHAIR** 7 May 2026
4
## **KIRKCALDY ART CLUB**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF KIRKCALDY ART CLUB**
I report on the accounts of the charity for the year ended 31 March 2026 which are set out on pages 6 to 10.
## **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) 2005 Act and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity 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 INDEPENDENT EXAMINER’S STATEMENT**
My examination is 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 seeks 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 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 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**WILLIAM MAIN MA CA 31 Townsend Place Kirkcaldy**
7 May 2026
5
## **KIRKCALDY ART CLUB**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2026**
||2026|2026|2026|2025|2025|
2025|
|---|---|---|---|---|---|---|
||Unrestricted|Restricted|
Total|Unrestricted|Restricted Total||
||funds|funds|funds|funds|funds|
funds|
||£|£|£|£|£|
£|
|**Income and endowments**|||||||
|Donations received|-|-|-|360|-|
360|
|Bequests|-|-|-|-|-|
-|
|**Charitable activities with members**|||||||
|Membership subscriptions|-|-|-|6,700|-|
6,700|
|Income tax receivable on subscriptions|-|-|-|1,475|-|
1,475|
|Tuition|-|-|-|13,796|-|
13,796|
|**Charitable activities from events-**|||||||
|Annual exhibitions|-|-|-|2,787|-|
2,787|
|Mercat sales|-|-|-|19,164|-|
19,164|
|Fundraising events|-|-|-|616|-|
616|
|Summer classes & workshops|-|-|-|6,441|-|
6,441|
|Social events|-|-|-|250|-|
250|
|Pottery & clay|-|-|-|3,952|-|
3,952|
|Grants received|-|-|-|-|-|
-|
|**Investment income**|||||||
|Interest|-|-|-|-|-|
-|
|**Other income**|||||||
|Other income|-|-|-|470|-|470|
|**Total income**||||56,011|-|56,011|
|**Charitable activities**|||||||
|Tutors’ fees|-|-|-|15,704|-|
15,704|
|Demonstrations & workshops|-|-|-|1,722|-|
1,722|
|Materials|-|-|-|2,691|55|
2,746|
|Annual exhibitions|-|-|-|2,171|-|
2,171|
|Mercat sales|-|-|-|15,445|-|
15,445|
|Social events and outings|-|-|-|553|-|
553|
|Administration and office costs:|||||||
|Rates and insurance|-|-|-|1,685|-|
1,685|
|Heat and light|-|-|-|4,248|-|
4,248|
|Telephone & internet|-|-|-|782|-|
782|
|Repairs and renewals|-|-|-|3,946|-|
3,946|
|Advertising, printing and stationery|-|-|-|376|-|
376|
|Cleaning and sundry|-|-|-|1,116|-|
1,116|
|Independent examiner’s fees|-|-|-|480|-|
480|
|Bank charges|-|-|-|281|-|
281|
|Depreciation|-|-|-|2,095|-|2,095|
|**Total expenditure**|-|-|-|53,295|55|
53,350|
|Net income/(expenditure) for the year|-|-|-|2,716|(55)|
2,661|
|Total funds brought forward|104,502|-|104,502|101,786|55|101,841|
|Transferred to SCIO|(39,502)|-|(39,502)|-|-|-|
|Total funds carried forward|£65,000|£ - £65,000||£104,502|£ -|£104,502|
6
## **KIRKCALDY ART CLUB**
## **BALANCE SHEET AS AT 31 MARCH 2026**
|Notes
**FIXED ASSETS**
2
**CURRENT ASSETS**
Stock
Income tax recoverable
Prepayments
Bank balance
Cash in hand
**CURRENT LIABILITIES**
Receipts in advance
Accruals
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
3
£
**RESERVES**
Unrestricted general funds
3
Restricted funds
3
£|2026
£
65,000
-
-
-
-
-
-
-
-
-
-
65,000
£
65,000
-
65,000
£|2025
£
74,136
50
2,500
291
32,155
-
34,996
4,109
521
4,630
30,366
104,502
104,502
-
104,502|
|---|---|---|
The notes on pages 8 to 10 form part of these accounts.
The trustees consider that an audit is not required for this year under the Charities Accounts (Scotland) Regulations 2006, Regulation 10(1) (a) to (c).
Approved by the trustees on 7 May 2026 and signed on their behalf by:
## **ANNE MCALPINE CHAIR**
## **LYNN ROBERTSON**
## **TREASURER**
7
## **KIRKCALDY ART CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **ACCOUNTING POLICIES**
## **BASIS OF ACCOUNTING**
The financial statements have been prepared in accordance with the historical cost convention, modified to include the valuation of heritable property, and to comply with the Charities and Trustee Investment (Scotland) Act 2005; the Charities Accounts (Scotland) Regulations 2006 (as amended); and 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) (effective 1 January 2019).
The Club received registered charity status on 30 March 2007.
## **INCOME AND EXPENDITURE**
Income comprises fees from subscriptions, tuition, exhibitions, fundraising, social events and grants, all of which are accounted for on the accruals basis; and bequests and donations which are recorded on a receipts basis. All income of the Club has been derived wholly from activities within the UK.
As part of its normal activities the Club holds regular exhibitions at which members, who may include trustees, exhibit and sell their work. In October 2021 the Club obtained a lease (rent free) for centrally located premises in Kirkcaldy Mercat where artwork is displayed and sold. The club retains a percentage of the selling price of exhibition and Mercat sales as commission. In the Statement of Financial Activities income and related expenditure from exhibitions and Mercat sales are shown separately under ‘Incoming resources from charitable activities’ and ‘Resources expended: charitable activities’.
## **FUND ACCOUNTING**
Unrestricted funds represent donations and other incoming resources receivable to further the general objects of the charity without further restricted purpose or need for repayment, and are available as general funds. Restricted funds are funds which are to be used in accordance with the specific restrictions imposed by the relevant supporter, or which have been raised by the charity for a specific purpose.
## **TANGIBLE FIXED ASSETS AND DEPRECIATION**
Tangible fixed assets other than heritable property are stated at cost less accumulated depreciation and accumulated impairment losses. Heritable property is stated at valuation. Depreciation is calculated to write off the cost less residual value of the assets over their estimated useful lives at the following rates:
Central heating 10% per annum straight line Equipment 20% per annum straight line
## **IMPAIRMENT OF ASSETS**
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
8
## **KIRKCALDY ART CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **ACCOUNTING POLICIES (continued)**
## **STOCK**
Stock is stated at the lower of cost and net realisable value and comprises arts and crafts materials.
## **1 TRUSTEE REMUNERATION AND EXPENSES**
No remuneration was paid to the trustees for services as trustees. Martine Greig received fees of £nil for pottery technician services (2025 £1,183) and £nil for cleaning services (2025 £308); Dorothy Black received fees of £nil for tuition (2025 £2,670); and Simon Ward received fees of £nil for tuition (2025 £1,536). A total of £nil (2025 £3,951) expenses were reimbursed to trustees as follows:
|2026
2025
£
£
Martine Greig
-
1,646
Cheryl Stewart
-
648
Lynn Robertson
-
533
Anne Greger
-
349
Simon Ward
-
243
Maureen Butcher
-
169
Angela Marry
-
155
Liz Mitchell
-
80
Anne McAlpine
-
72
Kathy Butcher
-
56
£ -
£3,951
**2 FIXED ASSETS**
Central
Heritable
heating Equipment
property
£
£
£
**Cost or valuation**
At 1 April 2025
6,656
16,994
65,000
Additions
-
-
-
Transfer to SCIO
(6,656)
(16,994)
-
At 31 March 2026
-
-
65,000
**Depreciation**
At 1 April 2025
5,275
9,239
-
Charge for year
-
-
-
Transfer to SCIO
(5,275)
(9,239)
-
At 31 March 2026
-
-
-
**Net Book Value**
At 31 March 2026
£ -
£ -
£65,000
£
At 31 March 2025
£1,381
£7,755
£65,000
£|Total
£
88,650
-
(23,650)
65,000
14,514
-
(14,514)
-
65,000
74,136|
|---|---|
The club’s premises were valued in October 2016 by DM Hall, Chartered Surveyors at £65,000 on the basis of open market value.
9
## **KIRKCALDY ART CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
|**3**|**RESERVES**|||||||
|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|||Total|
||||general fund|fund|||funds|
||||£||£||£|
||At 1 April 2025||104,502||-|104,502||
||Transfer to SCIO||(39,502)||-|(39,502)||
||At 31 March 2026||£65,000|£|-|£|65,000|
|**4**|**MOVEMENT OF FUNDS**|||||||
|||At|Incoming|Outgoing|Transfer||At|
|||1.4.2025|Resources|Resources|to SCIO||31.3.2026|
|||£|£|£||£|£|
||**Restricted Funds:**|||||||
||Grants|-|-|-||-|-|
||**Unrestricted Funds**|||||||
||General fund|104,502|-|-|(39,502)||65,000|
||TOTAL FUNDS|£104,502|£ -|£ -|£(39,502)||£65,000|
10