IRIS Accounts Production v24.2.0.383 Other Company accounts True false Pounds 1.1.23 31.12.23 31.12.23 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3522232022-12-31SC3522232023-12-31SC3522232023-01-012023-12-31SC3522232021-12-31SC3522232022-01-012022-12-31SC3522232022-12-31SC352223ns0:CharitableCompanyLimitedByGuarantee2023-01-012023-12-31SC352223ns15:PoundSterling2023-01-012023-12-31SC352223ns11:FRS1022023-01-012023-12-31SC352223ns11:IndependentExaminationCharity2023-01-012023-12-31SC352223ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC352223ns11:FullAccounts2023-01-012023-12-31SC352223ns11:CharitiesSORP2023-01-012023-12-31SC352223ns16:EnglandWales2023-01-012023-12-31SC352223ns11:RegisteredOffice2023-01-012023-12-31SC352223ns0:Trustee12023-01-012023-12-31SC352223ns0:Trustee22023-01-012023-12-31SC352223ns0:Trustee32023-01-012023-12-31SC352223ns0:Trustee42023-01-012023-12-31SC352223ns0:Trustee52023-01-012023-12-31SC352223ns0:Trustee62023-01-012023-12-31SC352223ns0:Trustee72023-01-012023-12-31SC352223ns0:TotalUnrestrictedFunds2023-01-012023-12-31SC352223ns0:TotalRestrictedIncomeFunds2023-01-012023-12-31SC352223ns0:TotalUnrestrictedFunds2022-12-31SC352223ns0:TotalRestrictedIncomeFunds2022-12-31SC352223ns0:TotalUnrestrictedFunds2023-12-31SC352223ns0:TotalRestrictedIncomeFunds2023-12-31SC352223ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-12-31SC352223ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-12-31SC352223ns10:WithinOneYear2023-12-31SC352223ns10:WithinOneYear2022-12-31SC35222322023-01-012023-12-31SC35222312023-01-012023-12-31SC35222312022-01-012022-12-31SC352223ns10:OwnedAssets2023-01-012023-12-31SC352223ns10:OwnedAssets2022-01-012022-12-31SC352223ns0:TotalUnrestrictedFunds2022-01-012022-12-31SC352223ns0:TotalRestrictedIncomeFunds2022-01-012022-12-31SC352223ns0:Activity8ns0:TotalUnrestrictedFunds2022-01-012022-12-31SC352223ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-01-012022-12-31SC352223ns10:LandBuildingsns10:ShortLeaseholdAssets2022-12-31SC352223ns10:PlantMachinery2022-12-31SC352223ns10:FurnitureFittings2022-12-31SC352223ns10:LandBuildingsns10:ShortLeaseholdAssets2023-01-012023-12-31SC352223ns10:PlantMachinery2023-01-012023-12-31SC352223ns10:FurnitureFittings2023-01-012023-12-31SC352223ns10:LandBuildingsns10:ShortLeaseholdAssets2023-12-31SC352223ns10:PlantMachinery2023-12-31SC352223ns10:FurnitureFittings2023-12-31SC352223ns10:LandBuildingsns10:ShortLeaseholdAssets2022-12-31SC352223ns10:PlantMachinery2022-12-31SC352223ns10:FurnitureFittings2022-12-31
REGISTERED COMPANY NUMBER: SC352223 (Scotland)
REGISTERED CHARITY NUMBER: SC040150














Report of the Trustees and

Financial Statements for the Year Ended 31 December 2023

for

LOCHSIDE ARENA

LOCHSIDE ARENA






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 13

LOCHSIDE ARENA (REGISTERED NUMBER: SC352223)

Report of the Trustees
for the Year Ended 31 December 2023


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 year ended 31 December 2023. The trustees have adopted the provisions of 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
Objectives and aims
The charitable objectives of the organisation are to advance the interests of education and social welfare of the community in Lewis and Harris by promoting the knowledge of and an interest in a variety of sports and sporting activities, with particular emphasis on equestrian sport and the care of horses, and to take steps as may be necessary to attain this purpose.

In the furtherance of these objectives the organisation proposed to build and provide a large indoor recreational facility suitable for a variety of sports and activities, which would be community owned and available for use by various community groups, clubs, organisations, members and individuals. This facility has now been built and is in daily use.

The aims are now to increase the user numbers of the Lochside Arena and to encourage groups to make use of the facilities. Several local community groups, together with private individuals book the Arena on a weekly basis.

Significant activities
The Facility has maintained close links with the following organisations which use the facility on a regular basis or support our activities:


- Western Isles Branch of the Pony Club
- Lewis and Harris Riding Club
- The British Horse Society
- Horse Scotland
- Western Isles Dogs Group



In April 2022 funding was obtained to further enhance the surface and available equipment. The Board purchased a stabilising fibre component to add to the silica sand, a towed mixing/levelling device required to maintain it. An ATV from which to operate the towed equipment was also procured. A full set of competition standard show jumps was also purchased to add to the centre facilities.

ACHIEVEMENT AND PERFORMANCE
Arena Utilisation
A full programme of events was delivered including 1 horse shows, 5 multi day coaching clinics with visiting instructors, numerous in-house practice days for DIY camps. Lewis and Harris Riding Club held working hunter training at the arena, due to them not hosting a show jumping or working hunter competition last year. Western Isles Pony Club used it for their Spring, Summer, and Autumn camps.

Throughout the year Western Isles Dogs Facebook Group use the arena for group meetings on Saturday afternoons.

The Lochside Arena Board welcome other user groups, clubs, and individuals to come and view the Arena facilities, and actively encourage users throughout the Western Isles to make full use of the Arena and its facilities.

The local trekking centre - Traigh Mhor Pony Trekking - used the arena for a winter youth camp and for their annual "Santa Trot" Christmas event - with over 400 people attending during the 3 days.


LOCHSIDE ARENA (REGISTERED NUMBER: SC352223)

Report of the Trustees
for the Year Ended 31 December 2023

FINANCIAL REVIEW
Reserves policy
A significant proportion of previously held reserves were used to support income from a fund raising campaign and facilitate the replacement of the arena surface in 2021 - which had been identified by users of the facility as a priority project required to ensure their continued support and to allow expansion of activities.

The new Board has continued a period of investment and development throughout 2023 which was required to regenerate interest in the facility after the Pandemic and encourage new and returning members and users of the facility.

During the year the Arena received income of £17,777 (2022 - £39,832) and incurred expenses of £30,811 (2022 - £40,061). This resulted in a deficit of £13,034 (2022 - of £229).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Induction and training of new trustees
On appointment, new trustees will be fully instructed on the aims and objects and the methods of operation of the charity.

Governance
Work has been undertaken to review internal processes, policies and procedures. A Trustees Code of Conduct has been adopted as well as other policies to support financial control, and improve overall governance of Lochside Arena.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC352223 (Scotland)

Registered Charity number
SC040150

Registered office
24-26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

Trustees
A L Fraser
J M Fraser
J Ross (resigned 21.3.24)
A J Trevor (resigned 15.3.24)
L I Montgomery (appointed 15.3.24)
M C Ross (appointed 15.3.24)
A MacLeod (appointed 18.3.24)

Independent Examiner
John E Moffat BA FCA
Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF


LOCHSIDE ARENA (REGISTERED NUMBER: SC352223)

Report of the Trustees
for the Year Ended 31 December 2023

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 16 May 2024 and signed on its behalf by:





A L Fraser - Trustee

Independent Examiner's Report to the Trustees of
Lochside Arena

I report on the accounts for the year ended 31 December 2023 set out on pages five to thirteen.

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. 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 connection with 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.








John E Moffat BA FCA
The Institute of Chartered Accountants in England and Wales

Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

16 May 2024

LOCHSIDE ARENA

Statement of Financial Activities
for the Year Ended 31 December 2023

31.12.23 31.12.22
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 16,576 - 16,576 28,814

Charitable activities
Charitable 800 - 800 9,983

Other trading activities 3 401 - 401 1,035
Total 17,777 - 17,777 39,832

EXPENDITURE ON
Charitable activities
Charitable 12,015 18,796 30,811 40,061

NET INCOME/(EXPENDITURE) 5,762 (18,796 ) (13,034 ) (229 )


RECONCILIATION OF FUNDS
Total funds brought forward 30,881 320,779 351,660 351,889

TOTAL FUNDS CARRIED FORWARD 36,643 301,983 338,626 351,660

LOCHSIDE ARENA (REGISTERED NUMBER: SC352223)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 27,201 296,767 323,968 340,066

CURRENT ASSETS
Debtors 8 9,522 - 9,522 5,347
Cash at bank and in hand 420 5,216 5,636 7,147
9,942 5,216 15,158 12,494

CREDITORS
Amounts falling due within one year 9 (500 ) - (500 ) (900 )

NET CURRENT ASSETS 9,442 5,216 14,658 11,594

TOTAL ASSETS LESS CURRENT
LIABILITIES

36,643

301,983

338,626

351,660

NET ASSETS 36,643 301,983 338,626 351,660
FUNDS 10
Unrestricted funds 36,643 30,881
Restricted funds 301,983 320,779
TOTAL FUNDS 338,626 351,660

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.


LOCHSIDE ARENA (REGISTERED NUMBER: SC352223)

Balance Sheet - continued
31 December 2023

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


The financial statements were approved by the Board of Trustees and authorised for issue on 16 May 2024 and were signed on its behalf by:





A L Fraser - Trustee

LOCHSIDE ARENA

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £1.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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
Tangible fixed assets are depreciated over their useful economic lives at the following rates:

Short leasehold property - straightline over the term of the lease
Plant and Machinery - 25% straightline
Fixtures & fittings - 20% straightline

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


LOCHSIDE ARENA

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. DONATIONS AND LEGACIES
31.12.23 31.12.22
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Donations 2,569 - 2,569 21,454
Membership fees 750 - 750 1,116
Admissions 13,257 - 13,257 6,124
Commercial Hire - - - 120
16,576 - 16,576 28,814

3. OTHER TRADING ACTIVITIES
31.12.23 31.12.22
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Fundraising events 401 - 401 600
Dressage competitions - - - 435
401 - 401 1,035

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Depreciation - owned assets 19,998 16,302

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.



LOCHSIDE ARENA

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 8,814 20,000 28,814

Charitable activities
Charitable 9,983 - 9,983

Other trading activities 1,035 - 1,035
Total 19,832 20,000 39,832

EXPENDITURE ON
Charitable activities
Charitable 24,961 15,100 40,061

NET INCOME/(EXPENDITURE) (5,129 ) 4,900 (229 )


RECONCILIATION OF FUNDS
Total funds brought forward 36,010 315,879 351,889

TOTAL FUNDS CARRIED FORWARD 30,881 320,779 351,660

7. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 482,853 18,015 16,404 517,272
Additions - 3,900 - 3,900
At 31 December 2023 482,853 21,915 16,404 521,172
DEPRECIATION
At 1 January 2023 161,504 3,231 12,471 177,206
Charge for year 16,095 3,696 207 19,998
At 31 December 2023 177,599 6,927 12,678 197,204
NET BOOK VALUE
At 31 December 2023 305,254 14,988 3,726 323,968
At 31 December 2022 321,349 14,784 3,933 340,066


LOCHSIDE ARENA

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 1,345
Paypal 9,522 4,002
9,522 5,347

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Accrued expenses 500 900

10. MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 30,881 5,762 36,643

Restricted funds
Restricted funding

320,779 (18,796 ) 301,983

TOTAL FUNDS 351,660 (13,034 ) 338,626

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 17,777 (12,015 ) 5,762

Restricted funds
Restricted funding

- (18,796 ) (18,796 )

TOTAL FUNDS 17,777 (30,811 ) (13,034 )


LOCHSIDE ARENA

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.1.22 in funds 31.12.22
£    £    £   
Unrestricted funds
General fund 36,010 (5,129 ) 30,881

Restricted funds
Restricted funding

315,879 4,900 320,779

TOTAL FUNDS 351,889 (229 ) 351,660

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 19,832 (24,961 ) (5,129 )

Restricted funds
Restricted funding

20,000 (15,100 ) 4,900

TOTAL FUNDS 39,832 (40,061 ) (229 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.1.22 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 36,010 633 36,643

Restricted funds
Restricted funding

315,879 (13,896 ) 301,983

TOTAL FUNDS 351,889 (13,263 ) 338,626

LOCHSIDE ARENA

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 37,609 (36,976 ) 633

Restricted funds
Restricted funding

20,000 (33,896 ) (13,896 )

TOTAL FUNDS 57,609 (70,872 ) (13,263 )

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.