REGISTERED NUMBER: SC232571 (Scotland)

The Royal Caledonian Curling Club

Unaudited Financial Statements

for the Year Ended 30 April 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms M V Milne

Mr F S Montgomery

Mr K Prentice

Ms J H Wilson

Mr A W Hannah

Mr J J Slater

Mrs L B Hyslop

Mrs W M Loudon

Mr K W Wilson

Mr A Asher

REGISTERED OFFICE:

Cairnie House

Ingliston Showground

Newbridge

EH28 8NB

REGISTERED NUMBER:

SC232571 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

FIXED ASSETS

Tangible assets

4

91,910

94,611

Investments

5

-

38,423

91,910

133,034

CURRENT ASSETS

Stocks

22,238

1,527

Debtors

6

233,601

188,505

Cash at bank

442,381

384,995

698,220

575,027

CREDITORS

Amounts falling due within one year

7

618,074

529,105

NET CURRENT ASSETS

80,146

45,922

TOTAL ASSETS LESS CURRENT LIABILITIES

172,056

178,956

CREDITORS

Amounts falling due after more than one year

8

70,317

104,652

NET ASSETS

101,739

74,304

RESERVES

Income and expenditure account

9

101,739

74,304

101,739

74,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which 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 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 company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

Mr F S Montgomery - Director

1.	STATUTORY INFORMATION

The Royal Caledonian Curling Club is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Subscription income is recognised in the period in which the income is received and in the period in which the associated expenditure occurs. All other income is accounted for when received or in relation to the period earned.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - Nil

Plant and machinery - 15% on cost

Fixtures and fittings - 15% on cost

Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

In the opinion of the directors, due to the location and unique nature of the freehold land and buildings, and their limited availability, the residual value is considered to be at least equal to cost. As a result, no depreciation is charged on these assets.

The directors review this assessment at each reporting date to ensure that it remains appropriate. If circumstances change such that the property is no longer expected to maintain its value, an appropriate depreciation policy or impairment charge will be applied.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Listed investments

Investments in listed shares are included at fair value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Legal status

The company is limited by guarantee. The liability of each member of the company, in the event of its winding up, is limited to £1.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Going concern

The primary source of funding for the company has been confirmed for the four-year period up to March 2027. This represents the annual investment from Sportscotland and will remain at current level for 2025-26. This funding is awarded subject to the company achieving performance targets considered achievable in relation to the level of investment.

The second largest source of income is from membership fees normally received in the October/November period. An increase in subscription rates was applied for 2024-25 and subscriptions are projected to remain at a stable value for 2025-26. The Boards budget for 2025-2026 is projected to show a small surplus.

The board has noted the reserves amounting to £101,739 which gives an element of stability and provides a means to overcome any short terms cash flow issues.

Due to the above the board has a reasonable expectation that the company has adequate reserves to continue in operational existence for the forseeable future. For this reason it continues to adopt the going concern basis in preparing these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 May 2024

and 30 April 2025

85,646

11,211

9,784

51,268

157,909

DEPRECIATION

At 1 May 2024

-

4,861

9,451

48,986

63,298

Charge for year

-

1,360

214

1,127

2,701

At 30 April 2025

-

6,221

9,665

50,113

65,999

NET BOOK VALUE

At 30 April 2025

85,646

4,990

119

1,155

91,910

At 30 April 2024

85,646

6,350

333

2,282

94,611

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2024

38,423

Disposals

(38,423

)

At 30 April 2025

-

NET BOOK VALUE

At 30 April 2025

-

At 30 April 2024

38,423

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

50,938

1,469

Other debtors

21,191

48,852

Salary sacrifice

771

-

Prepayments and accrued income

97,725

43,245

170,625

93,566

Amounts falling due after more than one year:

Other debtors

62,976

94,939

Aggregate amounts

233,601

188,505

Included within other debtors is an amount of £84,139 (2024: £143,723) which relates to loans to ice rinks owed to the Company.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

22,819

50,440

Trade creditors

70,328

15,027

Tax

-

11

Social security and other taxes

5,917

6,185

VAT

7,289

809

Other creditors

9,616

6,104

Accruals and deferred income

501,391

449,815

Deferred government grants

714

714

618,074

529,105

Included within other loans is an amount of £21,163 (2024: £61,337) which relates to loans for ice rinks due to World Curling Federation from the Company.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans - 1-2 years

28,701

43,069

Other loans - 2-5 years

39,518

58,495

Other loans more 5yrs instal

-

276

Deferred government grants

2,098

2,812

70,317

104,652

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

-

276

Included within other loans is a loan for ice rinks due to World Curling Federation from the Company. The balance due in 1-2 years is £27,045 (2024: £28,859), in 2-5 years is £35,931 (2024: £53,527).

9.

RESERVES

Income

and

expenditure

account

£

At 1 May 2024

74,304

Surplus for the year

27,435

At 30 April 2025

101,739

10.	EXCEPTIONAL ITEM

The results include the World Wheelchair Championship, an exceptional, one-off event. The Championship increased both income and expenditure and generated additional irrecoverable VAT. The event was delivered on a breakeven basis.