| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| LOCHSIDE ARENA |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| LOCHSIDE ARENA |
| LOCHSIDE ARENA |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| 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 2024 |
| 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 2024. 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. |
| In 2024 Lochside continued to improve the facility. In April we proceed in carrying out work to repair the roof. Alongside closing the peak of the roof, allowing us to safely ensure no wildlife can enter the facility. In July we installed our new sprinkler system that we managed to purchase following allocated funding. |
| ACHIEVEMENT AND PERFORMANCE |
| Arena Utilisation |
| A full programme of events was delivered including 5 multi day coaching clinics with visiting instructors, numerous in-house practice days and DIY camps. Western Isles Pony Club used it for their Spring and Autumn camps. |
| Throughout the year Western Isles Dogs Facebook Group continued to use the arena for group meetings on Saturday afternoons. |
| The Lochside Arena Board welcomed 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 2024 |
| 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 2024 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 £18,789 (2023 - £17,777) and incurred expenses of £36,095 (2023 - £30,811). This resulted in a deficit of £17,306 (2023 - of £13,034). |
| 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 |
| Registered Charity number |
| Registered office |
| Trustees |
| 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 2024 |
| 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 |
| Independent Examiner's Report to the Trustees of |
| Lochside Arena |
| I report on the accounts for the year ended 31 December 2024 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 |
| 30 July 2025 |
| LOCHSIDE ARENA |
| Statement of Financial Activities |
| for the Year Ended 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| Charitable activities |
| Other trading activities | 3 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 338,626 |
| LOCHSIDE ARENA (REGISTERED NUMBER: SC352223) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 36,643 |
| Restricted funds | 301,983 |
| TOTAL FUNDS | 338,626 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 2024 |
| 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 |
| LOCHSIDE ARENA |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 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 2024 |
| 2. | DONATIONS AND LEGACIES |
| 31.12.24 | 31.12.23 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| £ | £ | £ | £ |
| Donations | 1,050 | - |
| Grants | 300 | 5,750 |
| Membership fees | 940 | - |
| Admissions | 5,490 | - | 5,490 | 13,257 |
| 7,780 | 5,750 |
| Grants received, included in the above, are as follows: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| WIDT | 5,750 | - |
| Horse Scotland | 300 | - |
| 6,050 | - |
| 3. | OTHER TRADING ACTIVITIES |
| 31.12.24 | 31.12.23 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| £ | £ | £ | £ |
| Fundraising events | 208 | - |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| LOCHSIDE ARENA |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 30,881 | 320,779 |
| TOTAL FUNDS CARRIED FORWARD | 36,643 | 301,983 | 338,626 |
| 7. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and |
| leasehold | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2024 and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| LOCHSIDE ARENA |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Paypal | 9,356 | 9,522 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Accrued expenses |
| 10. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.1.24 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 36,643 | (4,260 | ) | 32,383 |
| Restricted funds |
| Restricted funding |
| 301,983 | (13,046 | ) | 288,937 |
| TOTAL FUNDS | (17,306 | ) | 321,320 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 13,039 | (17,299 | ) | (4,260 | ) |
| Restricted funds |
| Restricted funding |
| 5,750 | (18,796 | ) | (13,046 | ) |
| TOTAL FUNDS | ( |
) | (17,306 | ) |
| LOCHSIDE ARENA |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 10. | MOVEMENT IN FUNDS - continued |
| Comparatives for 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 |
| Comparative 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 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 30,881 | 1,502 | 32,383 |
| Restricted funds |
| Restricted funding |
| 320,779 | (31,842 | ) | 288,937 |
| TOTAL FUNDS | 351,660 | (30,340 | ) | 321,320 |
| LOCHSIDE ARENA |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 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 | 30,816 | (29,314 | ) | 1,502 |
| Restricted funds |
| Restricted funding |
| 5,750 | (37,592 | ) | (31,842 | ) |
| TOTAL FUNDS | 36,566 | (66,906 | ) | (30,340 | ) |
| 11. | RELATED PARTY DISCLOSURES |