Charity registration number SC045575 (Scotland)
Company registration number SC500699 (Scotland)
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Trustees' report
1 - 6
Independent examiner's report
7
Statement of financial activities
8 - 9
Balance sheet
10
Notes to the financial statements
11 - 19
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

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).

Objectives and activities

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.

PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
Achievements and performance

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.

Financial review

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.

 

PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -

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.

Structure, governance and management

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.

 

PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -

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

 

 

PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -

 

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.

PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
Statement of trustees' responsibilities

The trustees, who are also the directors of Pitreavie Amateur Athletics Club for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the 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, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the 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; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them 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 the Companies Act 2006. They 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.

The trustees' report was approved by the Board of Trustees.

Mr F Smith
President
30 August 2023
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PITREAVIE AMATEUR ATHLETICS CLUB
- 7 -

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.

Respective responsibilities of trustees and examiner

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.

Basis of independent examiner's statement

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.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Fiona Haro CA
Thomson Cooper
3 Castle Court
Carnegie Campus
Dunfermline
Fife
KY11 8PB
Dated: 30 August 2023
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2023
2023
2023
2022
Notes
£
£
£
£
Income from:
Donations and legacies
2
-
9,580
9,580
2,500
Charitable activities
3
110,127
-
110,127
110,759
Other trading activities
4
1,646
-
1,646
1,823
Total income
111,773
9,580
121,353
115,082
Expenditure on:
Raising funds
5
917
-
917
3,476
Charitable activities
6
130,294
11,709
142,003
91,579
Total expenditure
131,211
11,709
142,920
95,055
Net (expenditure)/income for the year/
Net movement in funds
(19,438)
(2,129)
(21,567)
20,027
Fund balances at 1 April 2022
53,835
108,800
162,635
142,608
Fund balances at 31 March 2023
34,397
106,671
141,068
162,635

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
Notes
£
£
£
Income from:
Donations and legacies
2
-
2,500
2,500
Charitable activities
3
110,759
-
110,759
Other trading activities
4
1,823
-
1,823
Total income
112,582
2,500
115,082
Expenditure on:
Raising funds
5
3,476
-
3,476
Charitable activities
6
86,221
5,358
91,579
Total expenditure
89,697
5,358
95,055
Net (expenditure)/income for the year/
Net movement in funds
22,885
(2,858)
20,027
Fund balances at 1 April 2021
30,950
111,658
142,608
Fund balances at 31 March 2022
53,835
108,800
162,635
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 10 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
11
103,004
107,281
Current assets
Stocks
12
3,989
2,679
Cash at bank and in hand
35,227
53,815
39,216
56,494
Creditors: amounts falling due within one year
13
(1,152)
(1,140)
Net current assets
38,064
55,354
Total assets less current liabilities
141,068
162,635
Income funds
Restricted funds
14
106,671
108,800
Unrestricted funds
15
34,397
53,835
141,068
162,635

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 30 August 2023
Mr F Smith
Trustee
Company Registration No. SC500699
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -
1
Accounting policies
Charity information

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.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 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

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.

PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 12 -
1.5
Expenditure

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.

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:

Freehold land and buildings
2% Straight Line

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.

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
Stocks

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.

1.9
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.

Basic financial liabilities

The club only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basis financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 13 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10
Taxation

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.

1.11
Employee benefits

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.

1.12

Athletic Equipment

Athletic equipment is recognised within the Statement of Financial Activities as a charitable cost in the year of purchase.

2
Donations and legacies
Restricted
Restricted
funds
funds
2023
2022
£
£

Grants

9,580
2,500
Grants receivable for core activities
Aldi
-
2,500
National Lottery
9,580
-
9,580
2,500
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 14 -
3
Charitable activities

 

 

2023
2022
£
£

Membership subscriptions

20,218
17,946

Athletic Events

5,085
15,742

Awards

2,185
135

Fundraising

6,123
1,904
RJT, track & field and track fees
73,313
75,032

Clubhouse income

2,203
-

Club Manager SA Partnership Agreement

1,000
-
110,127
110,759
4
Other trading activities
2023
2022
£
£
Clothing sales
1,646
1,823
5
Raising funds
2023
2022
£
£
Stock purchases
917
3,476
917
3,476
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 15 -
6
Charitable activities

 

 

2023
2022
£
£

Affiliation and race fees

8,029
6,785

Track hire

45,138
37,984

Equipment

1,560
1,861

Awards

4,666
976

Building costs

13,533
6,800

Travel and Accommodation

821
1,045

Athletic events

9,708
2,490

Donations, fund raising

1,780
630

Coaches' wages

33,928
20,265

Club Manager Wages

7,012
-

Cafe

80
-
126,255
78,836
Share of support costs (see note 7)
10,319
7,326
Share of governance costs (see note 7)
5,429
5,417
142,003
91,579
Analysis by fund
Unrestricted funds
130,294
86,221
Restricted funds
11,709
5,358
142,003
91,579
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 16 -
7
Support costs
Support costs
Governance costs
2023
Basis of allocation
£
£
£
Depreciation
-
4,277
4,277

Direct

Administration

7,926
-
7,926

Direct

Miscellaneous costs

2,393
-
2,393
Direct

Independent examination fee

-
1,152
1,152
Governance
10,319
5,429
15,748
Support costs
Support costs
Governance costs
2022
Basis of allocation
£
£
£
Depreciation
-
4,277
4,277

Direct

Administration

5,703
-
5,703

Direct

Miscellaneous costs

1,623
-
1,623

Independent examination fee

-
1,140
1,140
Governance
7,326
5,417
12,743

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.

 

8
Net movement in funds
2023
2022
£
£
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets
4,277
4,277
9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 17 -
10
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
12
8
There were no employees whose annual remuneration was more than £60,000.
11
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 April 2022
213,850
At 31 March 2023
213,850
Depreciation and impairment
At 1 April 2022
106,569
Depreciation charged in the year
4,277
At 31 March 2023
110,846
Carrying amount
At 31 March 2023
103,004
At 31 March 2022
107,281

 

12
Stocks
2023
2022
£
£
Kit
3,989
2,679
13
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,152
1,140
PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 18 -
14
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Balance at
1 April 2022
Incoming resources
Resources expended
Balance at
31 March 2023
£
£
£
£
Buildings reserve
107,281
-
(4,277)
103,004
Sports Scotland
100
-
-
100
Aldi
1,419
-
(1,419)
-
National Lottery
-
9,580
(6,013)
3,567
108,800
9,580
(11,709)
106,671
Movement in funds
Balance at
1 April 2021
Incoming resources
Resources expended
Balance at
31 March 2022
£
£
£
£
Buildings reserve
111,558
-
(4,277)
107,281
Sports Scotland
100
-
-
100
Aldi
-
2,500
(1,081)
1,419
111,658
2,500
(5,358)
108,800

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.

PITREAVIE AMATEUR ATHLETICS CLUB
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 19 -
15
Unrestricted funds

These are unrestricted funds which are material to the charity's activities made up as follows:

Movement in funds
Movement in funds
Balance at
1 April 2021

Incoming resources

Resources expended

Balance at
1 April 2022

Incoming resources

Resources expended

Balance at
31 March 2023
£
£
£
£
£
£
£
General
30,950
112,582
(89,697)
53,835
111,774
(131,212)
34,397
16
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
-
103,004
103,004
-
107,281
107,281
Current assets/(liabilities)
34,397
3,667
38,064
53,835
1,519
55,354
34,397
106,671
141,068
53,835
108,800
162,635
17
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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