The trustees present their annual report and financial statements for the year ended 31 March 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 (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 Objects of the club are:
(a) To foster the advancement of public participation in Athletics as a sport (and ‘sport’ means sport which involves physical skill and exertion),
(b) The provision of recreational facilities, or the organisation of recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended, and only in relation to recreational facilities or activities which are available to members of the public at large.
Key management
The directors consider the Board of Directors to be the key management personnel of the club, in charge of directing and controlling the club and running and operating the club on a day to day basis. All directors give of their time freely and no directors remuneration was paid during the period.
Directors are required to disclose all relevant interests and in accordance with the club’s policy and withdraw from decisions where a conflict of interest arises.
Legal and administrative information
The charity is a charitable company, registered in Scotland and is limited by guarantee, having no share capital. The charity is governed by Articles of Association.
During the period under review, the Club continued to pursue its core activities of advancing participation in athletics and organising recreational activities.
Competition continued through the various indoor and outdoor leagues and competitions with many successes and personal bests across age groups and disciplines. Several athletes were picked to represent their country, others gained scholarships to overseas universities and one Club Life member officiated at the Commonwealth Games in Birmingham. A successful Club Championships was held in September.
Successes were celebrated at the Club’s Annual Awards in June-22, the first Club Awards celebration for some time due to Covid-19. While there was no Scottish Athletics 4J award for the Club this year, the Club were honoured to make it to the Top 3 in the Impact Club of the Year category. The Club also secured a Scottish Women in Sport Award.
The Club was granted significant funding from the National Lottery Community Fund which is being used to give children in locations in the surrounding areas the opportunity to participate in athletics where they may not have had the chance. The Run, Jump, Throw (RJT) section continued to thrive with highly attended and greatly enjoyed Easter and Summer Camps as well as the weekly sessions. Many of the RJT members transitioned to the Junior section of the Club while several athletes were supported in obtaining their assistant coach qualification.
Two highly successful Forth Road Bridge 10k races took place in May-22 and August-22, run by the Endurance section of the Club.The Endurance section continued to thrive with regular sessions growing to four per week and members taking part in multiple events from mile sprints to ultra marathons. The South Queensferry satellite continued to grow, with couch to 5k and JogScotland sessions taking place on both sides of the Forth.
The FrameRunners section continued to run and secured two donations during the period as well as hosting another successful FrameRunning event in May-22.
In the financial year the Club made a loss of £21,567 (2022 surplus of £20,027). The main drivers for the loss were substantial amounts requiring to be spent on the Clubhouse (new heaters and emergency lighting), increased coaches' wages, club manager salary, cost of living increases for utilities and other regular costs, additional administration costs and track fee structure and collection issues. The track fee issues were identified during the financial year and immediate action taken with a new fee structure in place since 1st May-23 which is being closely monitored. Track hire was reviewed and swift action taken to align to ongoing needs and continually monitor. Fife Sports and Leisure Trust also applied more formal / appropriate track hire charging which was more reflective of track usage during the 22/23 financial year. In addition, in the prior year income was received for two races which were planned for and took place in May 22 and August 22, there was some income from these races in the current year but the majority of the expenditure was realised in the current year.
The recent change of Club Community Coach provided the early opportunity to review and reduce the hours for this role given that the RJT programme is well established and the support provided by Assistant Coaches and volunteers. A conscious effort was made to get the Club back up and running post Covid-19 with several awards and social events taking place to celebrate efforts and recognition and to support confidence. The Clubhouse generated income through regular rental of the gym through the winter. Other rental opportunities are being sought to help offset the high costs which the Clubhouse incurs. Gift Aid on membership subscriptions was claimed for the first time following the in depth process to set this up. Claims were submitted back to 2019 and a claim will be submitted annually going forward. Funding opportunities are continually being identified and progressed by the Club Manager.
Investments policy
The directors have the power to invest the monies of the company, not immediately required for the furtherance of its objects, in such investments, securities or property as may be thought fit, subject to such conditions and consents as may be imposed or required by law.
Risk management
The Executive Committee has considered the major risks to which the Club is exposed and continually monitor and mitigate these risks as far as possible. The principal risks faced by the Club continue to be the ability to secure funding to meet the ever increasing costs of running the Club and Clubhouse and provide participation opportunities to the wider community. Also, the ability to attract volunteers, including those to serve on the Club’s Executive Committee continues to be an issue. All risks and issues are discussed at Executive Committee meetings.
Reserves policy
The directors are to establish a policy to maintain unrestricted funds, which are the free reserves of the club. The level of unrestricted funds at 31 March 2023 was £34,397 and this was considered adequate to allow the club to continue for the foreseeable future.
The club has restricted funds of £106,671 (2022 - £108,800). Movement on restricted funds are noted within note 14 of the financial statements.
Pitreavie Amateur Athletics Club is a company limited by guarantee and a registered charity governed by its Articles of Association.
The company was incorporated on 17 March 2015 with Companies House and charitable status was granted by the Office of the Scottish Charity Regulator on 28 April 2015. The assets of the previous Pitreavie Amateur Athletics Club were transferred into the charitable company on 17 March 2015.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Trustees
Francis Smith (President appointed 26th September 2022)
Paul Allan (President resigned 26th September 2022)
Steven Hogg (Vice President appointed 26th September 2022)
Christine Stevenson (Treasurer)
Susan Allan (Competition)
Andrew Paisley (Risk & Governance)
Julie Fallon-McLeod (Coaching resigned 8th March 2023 position vacant)
Sophie Allan (Communications appointed 26th September 2022)
Andrew King (General Executive Member appointed 26th September 2022)
Secretary
Paul Allan (appointed 26th September 2022)
Registered Office
Pitreavie AAC Clubhouse
Queensferry Road
Dunfermline
Fife
KY11 8PP
Independent Examiner
Fiona Haro CA
Thomson Cooper Accountants
3 Castle Court
Carnegie Campus
Dunfermline
KY11 8PB
Bankers
Bank of Scotland
11-13 East Port
Dunfermline
KY12 7JY
Company Number SC500699
Scottish Charity Number SC045575
Any person who is willing to act as a director, and is permitted by law to do so, and is a member of the club, may be appointed as a director at an AGM or EGM.
The directors of the club comprise:
a. President
b. Treasurer
c. Communications
d. Risk & Governance
e. At least 2 but no more than 5 other members.
Directors may be re-elected at the AGM but a member can only hold the position of President / Vice-President for a total of four years without a break of at least one year.
Any casual vacancy in the Board of Directors may be filled by the committee at its discretion.
Induction information is provided to all new directors and ongoing training to all directors is provided as required.
Organisation
The directors are responsible for the overall strategy of the club and are responsible for approving policies and the direction of the club. The club is run by the Board of Directors and the Board meets on a regular basis, a minimum of nine times a year.
The operation and management of the club is specified in the Articles of Association. There are no restrictions other than those normally associated with a Company Limited by Guarantee.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 31 March 2023, which are set out on pages 8 to 19.
The charity’s trustees, who are also the directors of Pitreavie Amateur Athletics Club for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. 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 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 view given by the financial statements.
In connection with my examination, no matter has come to my attention:
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 which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Pitreavie Amateur Athletics Club is a company limited by guarantee and does not have a share capital. In the event of the company being wound up, the liability of each director is limited to £1.
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 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.
All income is recognised once the club has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:
Grants whether ‘capital’ grants or ‘revenue’ grants are recognised in full in the Statement of Financial Activities in the period in which they are receivable, except where the charity has conditions to fulfil before becoming entitled to it or where the donor has specified that the income is to be expended in a future period, in which case the income is deferred until that period.
Voluntary income is received by way of donations and is included in full in the Statement of Financial Activities when receivable and in the period to which it relates.
Donated facilities and services are included at fair value to the club where this can be quantified. The value of services by volunteers has not been included in these financial statements.
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Charitable Activities include expenditure associated with the delivery of the club’s activities and include both direct costs and those of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting constitutional and statutory requirements of the club and include costs linked to the strategic management of the club, and are included within expenditure on charitable activities.
Irrecoverable VAT is charged against the expenditure heading for which it has incurred.
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
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.
As a charity, Pitreavie Amateur Athletics Club is exempt from tax on income and gains arising from its charitable activities. No tax charges have arisen this year.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Athletic Equipment
Athletic equipment is recognised within the Statement of Financial Activities as a charitable cost in the year of purchase.
Grants
Membership subscriptions
Athletic Events
Awards
Fundraising
Clubhouse income
Club Manager SA Partnership Agreement
Affiliation and race fees
Track hire
Equipment
Awards
Building costs
Travel and Accommodation
Athletic events
Donations, fund raising
Coaches' wages
Club Manager Wages
Cafe
Direct
Administration
Direct
Miscellaneous costs
Independent examination fee
Direct
Administration
Direct
Miscellaneous costs
Independent examination fee
The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Refer to the table for the basis of apportionment and the analysis of support and governance costs.
Of the support and governance costs, £5,576 (2022 - £4,277) was restricted and £10,172 (2022 - £8,466) unrestricted.
The average monthly number of employees during the year was:
Buildings Reserve
The building reserve contains the building at the athletics club, this is depreciated every year. Any repairs and maintenance costs, are made out of the unrestricted fund for the upkeep of the building.
Sport Scotland
The reserve from Sport Scotland is to provide sanitary products.
Aldi
This funding was provided to support opportunities for athletes as young as 5 up to senior level to participate in many athletic disciplines.
The National Lottery
This funding was provided to give local children in the surrounding areas the opportunity to participate in athletics where they may not have had the opportunity.
These are unrestricted funds which are material to the charity's activities made up as follows:
Incoming resources
Resources expended
Incoming resources
Resources expended
There were no disclosable related party transactions during the year (2022 - none).