The trustees present their annual report and financial statements for the year ended 31 January 2025.
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 charity's 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)".
The Murray Play Foundation was established in August 2018, to oversee the creation and eventual operation of a community multi-sports facility near Dunblane in Perthshire.
The charity's objects are to promote, advance and further charitable purposes and activities through the provision of accessible facilities, parkland and services which enable participation in sport and enhance and contribute to the health, fitness and personal development and wellbeing of the residents of Stirlingshire (and beyond) through sporting heritage and activities, with particular focus on tennis and golf.
The policies adopted in furtherance of these objects are:
to set up and provide grassroots and accessible tennis and golf programmes for the purpose of encouraging participation in tennis, golf and physical activity in general through accessible activities, services and sports programmes;
to set up and deliver a museum about tennis;
to encourage individuals and the wider community to be more active in sport and health and fitness that are accessible to everyone;
to manage parkland in a sustainable manner, and in doing so promote the natural history and environment of Stirlingshire;
and there has been no change in these during the year.
Our vision is and always will be to enhance and contribute to the health, fitness, personal development, self-esteem, and wellbeing of the residents of the local area and beyond through affordable sport, leisure and heritage activities, with particular focus on tennis and golf and quality access to the outdoors.
Outreach programmes will take tennis to rural and disadvantaged areas within the local area and we endeavour to build relationships with schools, creating inspirational learning experiences for children in all communities and growing the sporting workforce through our proposed apprenticeship scheme and training workshops for teachers, students, parents and volunteers.
In the last year, the Trustees have met on numerous occasions.
As we outlined in our 2024 report, it was with deep regret that the Trustees made the difficult decision to bring the Park of Keir community facility project to an end. However, our vision remains to contribute to and enhance the health, fitness, personal development, self-esteem, and wellbeing of the residents of the local area and beyond through affordable sport, leisure and heritage activities. It is our long-term intention to use tennis and access to indoor and outdoor spaces to achieve our aims.
In June 2025, we launched our ‘Learn to Lead’ programme, delivering a practical course for physical education and primary teachers covering a wide range of content on how to best deliver starter tennis in schools at any time of the year.
Learn to Lead focuses on encouraging girls in primary school years P6/7, and sports leaders in secondary schools, who are keen to deliver lunchtime or after-school clubs to children in primary years P1-4.
The course will help participants develop and display leadership skills such as planning, organising, demonstrating and communicating. Participating schools must have a teacher prepared to oversee the activities and have a connection to a local tennis facility or club to create effective routes into the sport.
Learn to Lead is supported by online video content created by Judy Murray, equipment bags, school visits, teacher workshops and a team of coaches that will help facilitate school-club/park links.
We have also created ‘Tennis in 10’ – a fun starter programme aimed at parents, teachers, coaches and volunteers – which showcases ten simple, progressive ways to give children the best possible start in developing the skills required to play the game. This content can be delivered in any small space, from homes and parks to driveways and school playgrounds - all using basic play equipment.
We plan to launch this programme in spring 2026 through a series of fun days for families and workshops for parents, teachers, coaches and volunteers. Through these practical activities and our comprehensive new on-line video content, we aim to help combat the decline in physical literacy in children and expect to significantly increase the number of children becoming more active and accessing tennis on a regular basis. Tennis in Ten will also help build a bigger and stronger workforce in Scotland and beyond and make tennis more accessible to many more families and communities.
The charity has been supported by one of the trustees, Dr J Murray who has provided funding to meet legal and professional costs incurred to date. These funds have been provided interest free and unsecured, and it is intended that the loan will be repaid as and when the charity is in a position to do so.
It is the proposed policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
This level of reserves has not been maintained throughout the year due to the charity still being in the 'set up' phase and only governance costs being incurred. The reserves will be monitored as the charity grows and funding is gained. In the short term the trustees have agreed to continue funding the costs incurred.
The trustees has 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.
We continue to explore several ideas to promote our work in communities around Dunblane and beyond, and look forward to sharing details of further exciting new projects that are aligned with our focus and vision, enhancing the health and fitness of our communities through a variety of activities and content.
The charity is a company limited by guarantee, was incorporated on 2nd August 2018 and has no share capital. The company was registered with the Office of the Scottish Charity regulator (OSCR) on the 28th August 2018 and has had charitable status since then.
The trustees, who are also the 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:
Trustees are recruited by the current board and proposed at the next meeting. Appointment is confirmed when the board have discussed and agreed the suitability of the candidate.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
In these early stages of the charity, the board meet on a needs basis whenever any decision is required. These are voted on and approved when a majority is in agreement. It is anticipated as the charity moves forward that the Board will grow and specific regular meetings will be formally set.
The only related party transactions relate to the payment of the governance costs by a trustee, explained above.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 31 January 2025, which are set out on pages 5 to 11.
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.
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.
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:
to keep accounting records in accordance with Section 44(1)(a) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
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.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Murray Play Foundation is a private company limited by guarantee incorporated in Scotland. The registered office is C/o Brodies LLP, Capital Square, 58 Morrison Street, Edinburgh, EH3 8BP.
The financial statements have been prepared in accordance with the charity's 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)". 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 applying FRS 102 Update Bulletin 1 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.
The charity is dependent on the support of its trustees to support with costs until such times as they progress with project plans and income is received through grants or donations.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
Expenditure is included on an accruals basis, inclusive of VAT.
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:
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.
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.
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, 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.
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.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the year was:
Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:
The prior year impairment loss was a result of the write off of fixed assets on the balance sheet in relation to the Park of Keir project which has been mentioned in the Trustees report of the financial statements.
Trustee Dr J Murray has paid for all set up costs of the charity until such times as the charity is in a financial position to make repayment. This loan is interest free and has no set date for repayment.
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.
Included within note 13, is a loan payable to Trustee, J Murray of £258,775 (2024 - £258,775). The terms of the loan are disclosed at note 13, under Directors Loans and Overdrafts.