Charity registration number SC047843
Company registration number SC175928
DUFFTOWN AND DISTRICT GAMES LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
DUFFTOWN AND DISTRICT GAMES LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs L E Brown
Mr N A Grant
Secretary
Mr AM Grant
Charity number (Scotland)
SC047843
Company number
SC175928
Registered office
Ashville
Church Street
Dufftown
Moray
AB55 4AR
Independent examiner
Fiona Macritchie FCCA CTA
MacKenzie Kerr Limited
Redwood
19 Culduthel Road
Inverness
IV2 4AA
Bankers
Royal Bank of Scotland
21 Market Place
Inverurie
AB51 3PU
DUFFTOWN AND DISTRICT GAMES LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
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
DUFFTOWN AND DISTRICT GAMES LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2024.

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 company's Memorandum and 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 objectives of the charity as set out in their governing document are as follows:

Achievements and performance
Significant activities and achievements against objectives

The Games attracted over 5,000 people with more than 60% from overseas. Dufftown Highland Games donated £2,700 to local groups who assist with the annual event.

Financial review

The total income in the year was £63,778 (2023: £93,585) and main sources of income are fundraising and gate and programme receipts. The expenditure amounted to £58,210 (2023: £55,982).

 

As at 31 December 2024 the charity has total reserves of £154,136 (2023: £148,568) of which £113,960 (2023: £107,555) were of an unrestricted nature and £40,176 (2023: £41,013) were restricted.

 

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Reserves policy

The charity's policy is to retain sufficient funds to facilitate for:

The Trustees therefore consider that the charity should hold cash reserves of £60,000.

Structure, governance and management

The charity is controlled by its governing document, a Memorandum of Association and is governed under its Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The trustees, who are also 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:

Mrs L E Brown
Mr N A Grant
Recruitment and appointment of trustees

Membership is very stable and only changes when a member retires or a convenor seeks extra labour to assist with a particular task. Members are proposed by the said convenor and voted in/out by the membership at the AGM. All members are recruited from the local community.

DUFFTOWN AND DISTRICT GAMES LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Statement of Trustees' responsibilities

The trustees, who are also the directors of Dufftown and District Games Limited 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; 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 Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 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.

Future Plans

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

Mrs L E Brown
Trustee
28 May 2025
DUFFTOWN AND DISTRICT GAMES LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DUFFTOWN AND DISTRICT GAMES LIMITED
- 3 -

I report on the financial statements of the charity for the year ended 31 December 2024, which are set out on pages 4 to 13.

Respective responsibilities of trustees and examiner

The charity trustees (who are also the directors of Dufftown and District Games Limited 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 Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.The charity trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.

It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 seeking 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 the course of my examination, no matter has come to my attention

 

1. which gives me reasonable cause to believe that in any material respect the requirements:

have not been met, or

 

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

Fiona Macritchie FCCA CTA
MacKenzie Kerr Limited
Redwood
19 Culduthel Road
Inverness
IV2 4AA
28 May 2025
DUFFTOWN AND DISTRICT GAMES LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
13,439
-
13,439
36,113
-
36,113
Charitable activities

Highland games management

3
48,982
-
48,982
56,254
-
56,254

Investments

4
1,357
-
1,357
1,218
-
1,218
Total income
63,778
-
63,778
93,585
-
93,585
Expenditure on:
Charitable activities
5
58,210
-
58,210
55,982
-
55,982
Net incoming resources before transfers
5,568
-
5,568
37,603
-
37,603
Gross transfers between funds
837
(837)
-
837
(837)
-
Net income/(expenditure) for the year/
Net movement in funds
6,405
(837)
5,568
38,440
(837)
37,603
Fund balances at 1 January 2024
107,555
41,013
148,568
69,115
41,850
110,965
Fund balances at 31 December 2024
113,960
40,176
154,136
107,555
41,013
148,568

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

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.
DUFFTOWN AND DISTRICT GAMES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
55,316
59,354
Current assets
Debtors
12
151
152
Cash at bank and in hand
100,242
91,941
100,393
92,093
Creditors: amounts falling due within one year
13
(1,573)
(2,879)
Net current assets
98,820
89,214
Total assets less current liabilities
154,136
148,568
The funds of the charity
Restricted income funds
14
40,176
41,013
Unrestricted funds
15
113,960
107,555
154,136
148,568

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 December 2024.

The directors 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 28 May 2025
Mr N A Grant
Trustee
Company registration number SC175928
DUFFTOWN AND DISTRICT GAMES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
1
Accounting policies
Charity information

Dufftown and District Games Limited is a private company limited by guarantee incorporated in Scotland. The registered office is Ashville, Church Street, Dufftown, Moray, AB55 4AR.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". 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

These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
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.

1.5
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 costs 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.

DUFFTOWN AND DISTRICT GAMES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies (Continued)
- 7 -
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
Straight line over 50 years
Fixtures and fittings
Straight line over 4 years
IT equipment
Straight line over 3 years

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.

DUFFTOWN AND DISTRICT GAMES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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
Donations and legacies
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Donations and gifts
139
19,733

Sponsorships

13,300
16,380
3
Charitable activities

Highland games management

Highland games management

2024
2023
£
£

Gate and programme receipts

37,773
48,959

Stances

3,280
2,930

Tombola/raffle income

3,933
1,101

Highland dancing entry

1,472
1,054

Programme advertising

245
1,560
Other income
2,279
650
48,982
56,254
Analysis by fund
Unrestricted funds - general
48,982
56,254
48,982
56,254
DUFFTOWN AND DISTRICT GAMES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
4

Investments

Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Interest receivable
1,357
1,218
5
Charitable activities

Highland games management

Highland games management

2024
2023
£
£

Advertising

30
267

Miscellaneous game day expenditure

7,146
8,960

Catering

4,574
4,933

Game day prizes

9,782
12,061

Pipe band and transport

6,250
6,185

Tents and toilets

13,979
9,436

Public address system

580
660

Scottish Games Association

309
309

Games equipment hire

959
750

Highland dancing

625
519

Donations

3,100
2,500

Sundries

334
1,127

Heat and light

(180)
516
Other charitable expenditure
2,082
-
49,570
48,223
Share of support costs (see note 6)
6,954
6,016
Share of governance costs (see note 6)
1,686
1,743
58,210
55,982
DUFFTOWN AND DISTRICT GAMES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
6
Support costs allocated to activities
Highland games management
Total
2024
2023
£
£
Depreciation
4,039
4,039
Insurance
1,354
1,461
Bank charges
1,561
516
Governance
1,686
1,743
8,640
7,759
2024
2023
Governance costs comprise:
£
£
Accountancy
1,686
1,743
1,686
1,743
7
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
1,686
1,743
Depreciation of owned tangible fixed assets
4,039
4,039
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
10
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 Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

DUFFTOWN AND DISTRICT GAMES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
11
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
IT equipment
Total
£
£
£
£
Cost
At 1 January 2024
62,746
20,468
569
83,783
At 31 December 2024
62,746
20,468
569
83,783
Depreciation and impairment
At 1 January 2024
12,023
12,026
379
24,428
Depreciation charged in the year
1,035
2,814
190
4,039
At 31 December 2024
13,058
14,840
569
28,467
Carrying amount
At 31 December 2024
49,688
5,628
-
55,316
At 31 December 2023
50,723
8,442
189
59,354
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
151
152
13
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals
1,573
2,879
DUFFTOWN AND DISTRICT GAMES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
14
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January 2024
Transfers
At 31 December 2024
£
£
£
Grant received
41,013
(837)
40,176
Previous year:
At 1 January 2023
Transfers
At 31 December 2023
£
£
£
Grant received
41,850
(837)
41,013

There was a grant received of £41,850 in October 2022 from Foundation Scotland. This money used towards the building of a new shed. As the shed has been completed the grant is being released over a 50 year period.

15
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January 2024
Incoming resources
Resources expended
Transfers
At 31 December 2024
£
£
£
£
£
General funds
107,555
63,778
(58,210)
837
113,960
Previous year:
At 1 January 2023
Incoming resources
Resources expended
Transfers
At 31 December 2023
£
£
£
£
£
General funds
69,115
93,585
(55,982)
837
107,555
DUFFTOWN AND DISTRICT GAMES LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
16
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 December 2024:
Tangible assets
15,140
40,176
55,316
Current assets/(liabilities)
98,820
-
98,820
113,960
40,176
154,136
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 December 2023:
Tangible assets
18,341
41,013
59,354
Current assets/(liabilities)
89,214
-
89,214
107,555
41,013
148,568
17
Transfers between funds

The transfer from restricted funds represents the grant release for the year in respect of funds received from Foundation Scotland for the shed build.

18
Related party transactions

There were no related party transactions during the year (2023 - none).

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