Charity registration number SC051450 (Scotland)
Company registration number SC188241 (Scotland)
BALLATER HIGHLAND GAMES
(LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
BALLATER HIGHLAND GAMES
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr G Riddler
Mr F Henderson
(Resigned 22 November 2023)
Mr J Sinclair
Mr N Bannister
Mr D Cobban
Mrs K Buchan
Secretary
Mr G Riddler
Charity number (Scotland)
SC051450
Company number
SC188241
Registered office
Park House
Anderson Road
Ballater
Aberdeenshire
United Kingdom
AB35 5QW
Independent examiner
Azets
37 Albyn Place
Aberdeen
AB10 1YN
BALLATER HIGHLAND GAMES
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 13
BALLATER HIGHLAND GAMES
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 October 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 Articles of Association, 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 trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Charitable Purposes are:

 

Achievements and performance

The performance of Ballater Highland Games in the year ended 31 October 2023 was very successful, and the Ballater Games Day was held on Thursday 10th August 2023. The Games were held in full, with all competitions being contested, and there was also a strong crowd on the day, in excess of 6,400 people. The high level of attendance ensured that we made a surplus financially, which is important to the future of Ballater Highland Games. Future plans for Ballater Highland Games include enhancing the Monaltrie Park Games Arena, but this is subject to the potential development of the neighbouring site for residential purposes. Future enhancement work includes improvements in seating and accessibility for disabled persons etc. Other plans include the repair/​replacement of Games equipment.

 

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, including cancellation of events at short-notice, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The structure of the company comprises:

 

BALLATER HIGHLAND GAMES
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -

The trustees, who are also the directors for the purpose of the company law, and who served during the year and up to the date of signature of the financial statements were:

 

Mr J Sinclair

Mr N Bannister

Mr D Cobban

Mrs K Buchan

Mr G Riddler

Mr F Henderson (Resigned 22 Novemeber 2023)

The strategy and affairs of the Company shall be directed and managed by a Board of Trustees elected. The Board may exercise all such powers of the Company, and do on behalf of the Company all acts as may be exercised and done by the Company, other than those required to be exercised or done by the members in General Meeting, and subject always to the Articles of Association and to the provisions of the Companies Act.

Statement of trustees' responsibilities

The trustees, who are also the directors of Ballater Highland Games 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.

Trustee and Treasurer
8 April 2024
BALLATER HIGHLAND GAMES
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BALLATER HIGHLAND GAMES
- 3 -

I report on the financial statements of the charity for the year ended 31 October 2023, which are set out on pages 4 to 13.

Respective responsibilities of trustees and examiner

The charity’s trustees, who are also the directors of Ballater Highland Games 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.

Richard Stephenson CA ATT
On behalf of Azets
Chartered Accountants
37 Albyn Place
Aberdeen
AB10 1JB
Dated: 8 April 2024
BALLATER HIGHLAND GAMES
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
3
3,666
1,607
Charitable activities
4
87,478
68,284
Other trading activities
5
7,925
4,185
Investments
6
679
29
Total income
99,748
74,105
Expenditure on:
Raising funds
7
6,379
4,479
Charitable activities
8
82,125
60,171
Total expenditure
88,504
64,650
Net movement in funds
11,244
9,455
Fund balances at 1 November 2022
118,694
109,239
Fund balances at 31 October 2023
129,938
118,694

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.
BALLATER HIGHLAND GAMES
BALANCE SHEET
AS AT 31 OCTOBER 2023
31 October 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
12
15,654
12,856
Current assets
Debtors
13
-
301
Cash at bank and in hand
126,538
118,608
126,538
118,909
Creditors: amounts falling due within one year
14
(12,254)
(13,071)
Net current assets
114,284
105,838
Total assets less current liabilities
129,938
118,694
Income funds
Unrestricted funds
129,938
118,694
129,938
118,694

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 October 2023.

The trustees acknowledge their 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 8 April 2024
Trustee
Company registration number SC188241
BALLATER HIGHLAND GAMES
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 6 -
1
Accounting policies
Charity information

Ballater Highland Games is a private company limited by guarantee incorporated in Scotland. The registered office is Park House, Anderson Road, Ballater, Aberdeenshire, United Kingdom, AB35 5QW.

 

The company applied for charitable status which was granted by OSCR on 13 December 2021.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's 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. 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.

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
BALLATER HIGHLAND GAMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 7 -
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.

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
Reducing balance - 7.7%
Fixtures and fittings
Reducing balance - 25%

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
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.

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.

BALLATER HIGHLAND GAMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 8 -
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.

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.

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Membership fees
3,666
1,607
BALLATER HIGHLAND GAMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 9 -
4
Charitable activities

Admission & programme sales

 

Patrons

Trade stands

Annual dinner

Total
2023
Total
2022
2023
2023
2023
2023
£
£
£
£
£
£
Sales within charitable activities
60,221
15,453
10,404
1,400
87,478
68,284
For the year ended 31 October 2022

Admission & programme sales

 

Patrons

Trade stands

Annual dinner

Total
2022
£
£
£
£
£
Sales within charitable activities
45,822
13,562
7,605
1,295
68,284
BALLATER HIGHLAND GAMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 10 -
5
Other trading activities
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Sponsorships and social lotteries
7,925
4,185
6
Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
679
29
7
Raising funds
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Advertising
6,379
4,479
6,379
4,479
BALLATER HIGHLAND GAMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 11 -
8
Charitable activities
2023
2022
£
£
Depreciation and impairment
1,504
996

Field construction

28,727
27,912

Rent, rates and insurance

629
706

Accountancy

487
660

Printing and stationery

107
149

Hospitality

13,978
8,956

Sundry expenses

2,750
1,476
Training costs
-
636

Judges, officials, bands

7,365
1,770

Security costs

3,350
1,010

Legal and professional fees

-
1,450

Charitable donations

2,600
366

Honoraria

700
700

Prize monies

12,059
9,167

Annual dinner

5,469
4,217
79,725
60,171
Share of governance costs (see note )
2,400
-
82,125
60,171

Accountancy costs include amounts of £2,400 (2022 - Nil) for Independent Examination fees.

9
Trustees
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:

2023
2022
Number
Number
6
5
There were no employees whose annual remuneration was more than £60,000.
11
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

BALLATER HIGHLAND GAMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 12 -
12
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 November 2022
28,052
907
28,959
Additions
-
4,302
4,302
At 31 October 2023
28,052
5,209
33,261
Depreciation and impairment
At 1 November 2022
16,103
-
16,103
Depreciation charged in the year
919
585
1,504
At 31 October 2023
17,022
585
17,607
Carrying amount
At 31 October 2023
11,030
4,624
15,654
At 31 October 2022
11,949
907
12,856
13
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
-
301
14
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
254
971
Other creditors
12,000
12,100
12,254
13,071
15
Analysis of net assets between funds
Unrestricted funds
Unrestricted funds
2023
2022
£
£
Fund balances at 31 October 2023 are represented by:
Tangible assets
15,654
12,856
Current assets/(liabilities)
114,284
105,838
129,938
118,694
BALLATER HIGHLAND GAMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 13 -
16
Members Liability

Ballater Highland Games is a company limited by guarentee and not having a share capital. The members' liability in the event of winding up is limited by guarantee not exceeding £1 per member to the property of the company, while still a member or one year after they cease to be a memeber.

17
Related party transactions

There were no disclosable related party transactions during the year £nil (2022 - £nil)

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