THE SPEY FOUNDATION

Company limited by guarantee

Company Registration Number:
SC366048 (Scotland)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

THE SPEY FOUNDATION

Contents of the Financial Statements

for the Period Ended 30 September 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

THE SPEY FOUNDATION

Directors' report period ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Principal activities of the company

The charity's objects are to make grants or loans, with or without interest, out of the income or capital of The Spey Foundation for any purpose which, in the opinion of the Trustees, is intended to provide for or advance the study of and research into salmon and sea trout in the District of the River Spey, as defined by the Salmon Fisheries (Scotland) Act 1862, subsequently amended and presently stated under the Salmon and Freshwater Fisheries (Consolidation) (Scotland) Act 2003. The charity's aims are also to provide for or advance the study of and research into any other aquatic species within the Spey catchment, and to provide for or advance education regarding all of these species. The objectives in the year were to provide data on salmonid population distribution, abundance and structure; to provide data and advice on the categorisation of the River Spey according to its conservation status and thereby help further determine its Conservation Limits; to provide data on other fish and other aquatic species population distribution and abundance; to continue the existing programme of fisheries research and to maintain strong educational links to local schools and to the broader public via the Spey Fishery Board's website and social media channels. The Spey Fishery Board devises the strategies for achieving objectives in order to implement and maintain monitoring programmes for salmonid populations and other fish species within the Spey. The significant activities that contribute to the achievement of objectives for the year were to support the Spey Fishery Board as follows: conduct electro-fishing surveys of the River Spey and its tributaries; install and operate smolt traps on the River Spey and/or its tributaries; collate and present data to advance the methodology for the determination of Conservation Limits; to provide data on the abundance and distribution of introduced fish species within the River Spey Catchment; ; to maintain and complete contract research and monitoring programmes, including fish rescues; maintain the Salmon Go To School programme; to provide education and raise awareness of the management of the Spey catchment and its fisheries, including via digital means and social media.

Additional information

Wider Network The work of The Spey Foundation contributes to the fishery management policies of The Spey District Fishery Board (although the Board is not a charity). Financial review Financial position The net assets of The Spey Foundation at the year end are £4,385. This is represented by E1,247 attributable to restricted funds pertaining to ongoing projects in relation to genetic analysis and the remaining reserves of £3,138 are unrestricted funds. The incoming resources of the charity in the year to 30 September 2024 amounted to £18,965 (2023 £30,331). Total expenditure incurred amounted to £17,668 (2023 £53,496) giving a surplus of £1,297 (2023 (£23,165) Funds are generally obtained for specific projects and monies allocated accordingly. The main factor outside the charity's control that is relevant to the achievement of the objectives is the weather. Prolonged periods of bad weather can seriously hamper surveys. Future plans At the current time, the most important work for the next financial year will be supporting the Spey Fishery Board's strategy, in response to the Atlantic salmon crisis affecting all our rivers, to maximise the number of wild Atlantic smolts reaching the sea. The Spey Scientific Committee also makes recommendations to the Spey Fishery Board in order to identify key objectives for the future management of the river. 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. The Spey Foundation is a charitable company limited by guarantee, incorporated on 24 September 2009. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Recruitment and appointment of new trustees The Spey Fishery Board has the power to nominate and co-opt Trustees in accordance with the Trust Deed. Induction and training of new trustees No specific training is given as the aims and objectives of the charity are set out in the rules. Related parties The Spey Foundation works closely with The Spey District Fishery Board to ensure sound fishery management within the District of the River Spey. The Spey Foundation and the Director of The Spey District Fishery Board are co-located. Risk management The major risks to which the charity has been exposed have been reviewed. These consist of the ongoing availability of funding for research projects. The Spey Fishery Board could act as underwriter should the need arise.



Directors

The directors shown below have held office during the whole of the period from
1 October 2023 to 30 September 2024

R D Knight
P H R Graham
P M Lawson
A W Scott


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 June 2025

And signed on behalf of the board by:
Name: R D Knight
Status: Director

THE SPEY FOUNDATION

Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 18,965 30,331
Cost of sales: ( 17,668 ) ( 53,496 )
Gross profit(or loss): 1,297 (23,165)
Operating profit(or loss): 1,297 (23,165)
Profit(or loss) before tax: 1,297 (23,165)
Profit(or loss) for the financial year: 1,297 (23,165)

THE SPEY FOUNDATION

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Current assets
Cash at bank and in hand: 5,286 17,277
Total current assets: 5,286 17,277
Creditors: amounts falling due within one year: 3 ( 901 ) ( 14,189 )
Net current assets (liabilities): 4,385 3,088
Total assets less current liabilities: 4,385 3,088
Total net assets (liabilities): 4,385 3,088
Members' funds
Profit and loss account: 4,385 3,088
Total members' funds: 4,385 3,088

The notes form part of these financial statements

THE SPEY FOUNDATION

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 June 2025
and signed on behalf of the board by:

Name: R D Knight
Status: Director

The notes form part of these financial statements

THE SPEY FOUNDATION

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

THE SPEY FOUNDATION

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

THE SPEY FOUNDATION

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1 1
Accruals and deferred income 900 900
Other creditors 0 13,288
Total 901 14,189