Farr Edge 2000 - Charities report

REGISTERED COMPANY NUMBER: SC203520 (Scotland)

REGISTERED CHARITY NUMBER: 029802

Report of the Trustees and

Unaudited Financial Statements For The Year Ended 31 March 2025

for

Farr Edge 2000

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

12

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 March 2025. 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 objectives of the company is to provide extra-curricular activities for children in the area up to the age of 18 and to provide facilities for adults, particularly the elderly and vulnerable..

Significant activities

Four clubs run weekly plus a weekly parent and toddler group. All these groups are well attended and knowledge that these clubs are able to continue for the foreseeable future is a very good thing for the children and their parents, especially in an area where there is very little extra-curricular activities for children due to the remote location.

Fortnightly community lunch sessions for all the community have been introduced following a successful trial in the previous year.

A lot of hard work has been input to this project from a small committee but thanks to the grant awards the Farr Edge 2000 has a positive future.

During the year, grants were recieved from SSE and the Caithness and North Sutherland Fund. These grants were unrestricted and the money in the bank account is ring fenced for paying the youth workers and development officers and the general running costs of Farr Edge 2000 going forward.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charitable activities carried out were in accordance with the aims and objective of the organisation which is to provide facilities for the under 18s.

Fundraising activities

The main income received is grants, but a small amount of fundraising is carried out most years in order to boost the funds.

FINANCIAL REVIEW

Principal funding sources

The principal funders during the year were SSE and the Caithness and North Sutherland Fund.

These grants are to provide activities for adults (particularly the elderly/vulnerable) which include regular lunch club and music afternoons.

Reserves policy

There is one unrestricted fund which exists to facilitate the day to day running of Farr Edge 2000. There is a deficit this year, which has been covered by a surplus of funds brought forward from the previous year.

An Endowment Fund exists representing the building donated to the organisation.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Farr Edge 2000 is a company limited by guarantee, governed by its Memorandum and Articles of Association. The company is registered in Scotland, company number SC203520. It is also a registered charity with the Office of the Scottish Charity Register.

Recruitment and appointment of new trustees

New trustees are selected by the board. Their appointment is governed by the company's Memorandum and Articles of Association.

Organisational structure

The board of the company comprises 4 directors who meet regularly to discuss and manage matters as they arise.

Induction and training of new trustees

New trustees are guided in their duties by the existing trustees.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC203520 (Scotland)

Registered Charity number

029802

Registered office

The Hut

Bettyhill

Thurso

Caithness

KW14 7SS

Trustees

Ms L Dyson Director

M K Magee Director

R MacIntosh Director

M M Mackay Director

Independent Examiner

The Long Partnership

Chartered Accountants

Chartered Tax Advisers

1 Sir John's Square

Thurso

Caithness

KW14 7AN

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 21 July 2025 and signed on its behalf by:

Ms L Dyson - Trustee

I report on the accounts for the year ended 31 March 2025 set out on pages four to twelve.

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.

Alan E Long

The Institute of Chartered Accountants in England and Wales

The Long Partnership

Chartered Accountants

Chartered Tax Advisers

1 Sir John's Square

Thurso

Caithness

KW14 7AN

21 July 2025

31.3.25

31.3.24

Unrestricted

Restricted

Endowment

Total

fund

funds

fund

funds

Notes

£

INCOME AND

ENDOWMENTS FROM

Donations and legacies

-

30

Charitable activities

Centre for providing activities for children

22,406

-

22,406

27,740

Other trading activities

2

2,690

-

2,690

4,050

Investment income

3

126

-

126

173

Total

25,222

-

25,222

31,993

EXPENDITURE ON

Raising funds

-

841

Charitable activities

Centre for providing activities for children

26,599

19

721

27,339

25,132

Total

26,599

19

721

27,339

25,973

NET
INCOME/(EXPENDITURE)

(1,377

)

(19

)

(721

)

(2,117

)

6,020

RECONCILIATION OF

FUNDS

Total funds brought forward

14,491

125

54,870

69,486

63,466

TOTAL FUNDS CARRIED
FORWARD

13,114

106

54,149

67,369

69,486

31.3.25

31.3.24

Unrestricted

Restricted

Endowment

Total

fund

funds

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

8

553

107

54,149

54,809

55,647

CURRENT ASSETS

Debtors

9

75

-

75

Cash at bank

13,200

-

13,200

14,589

13,275

-

13,275

14,664

CREDITORS

Amounts falling due within one
year

10

(714

)

(1

)

-

(715

)

(825

)

NET CURRENT ASSETS

12,561

(1

)

-

12,560

13,839

TOTAL ASSETS LESS
CURRENT LIABILITIES

13,114

106

54,149

67,369

69,486

NET ASSETS

13,114

106

54,149

67,369

69,486

FUNDS

11

Unrestricted funds

13,114

14,491

Restricted funds

106

125

Endowment funds

54,149

54,870

TOTAL FUNDS

67,369

69,486

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 21 July 2025 and were signed on its behalf by:

L Dyson - Trustee

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.

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

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

Freehold property

-

1% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

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 and the trustees' report.

2.	OTHER TRADING ACTIVITIES

31.3.25

31.3.24

£

Fundraising events

-

1,000

Shop and session income

1,675

1,692

Hire of facilities

1,015

1,358

2,690

4,050

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

Deposit account interest

126

173

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.25

31.3.24

£

Depreciation - owned assets

838

839

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.25

31.3.24

Youth work

3

No employees received emoluments in excess of £60,000.

There were no high paid staff in either the current or preceding year.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Endowment

Total

fund

funds

fund

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

30

-

30

Charitable activities

Centre for providing activities for children

27,740

-

27,740

Other trading activities

4,050

-

4,050

Investment income

173

-

173

Total

31,993

-

31,993

EXPENDITURE ON

Raising funds

841

-

841

Charitable activities

Centre for providing activities for children

24,389

22

721

25,132

Total

25,230

22

721

25,973

NET INCOME/(EXPENDITURE)

6,763

(22

)

(721

)

6,020

RECONCILIATION OF FUNDS

Total funds brought forward

7,727

148

55,591

63,466

TOTAL FUNDS CARRIED FORWARD

14,490

126

54,870

69,486

8.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

COST

At 1 April 2024 and 31 March 2025

72,102

3,178

8,913

84,193

DEPRECIATION

At 1 April 2024

17,232

2,519

8,795

28,546

Charge for year

721

99

18

838

At 31 March 2025

17,953

2,618

8,813

29,384

NET BOOK VALUE

At 31 March 2025

54,149

560

100

54,809

At 31 March 2024

54,870

659

118

55,647

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

75

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other creditors

715

825

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

Unrestricted funds

General fund

14,491

(1,377

)

13,114

Restricted funds

Capital

125

(19

)

106

Endowment funds

Building

54,870

(721

)

54,149

TOTAL FUNDS

69,486

(2,117

)

67,369

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

25,222

(26,599

)

(1,377

)

Restricted funds

Capital

-

(19

)

(19

)

Endowment funds

Building

-

(721

)

(721

)

TOTAL FUNDS

25,222

(27,339

)

(2,117

)

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

Unrestricted funds

General fund

7,727

6,764

14,491

Restricted funds

Capital

148

(23

)

125

Endowment funds

Building

55,591

(721

)

54,870

TOTAL FUNDS

63,466

6,020

69,486

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

31,993

(25,229

)

6,764

Restricted funds

Capital

-

(23

)

(23

)

Endowment funds

Building

-

(721

)

(721

)

TOTAL FUNDS

31,993

(25,973

)

6,020

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.4.23

in funds

31.3.25

£

Unrestricted funds

General fund

7,727

5,387

13,114

Restricted funds

Capital

148

(42

)

106

Endowment funds

Building

55,591

(1,442

)

54,149

TOTAL FUNDS

63,466

3,903

67,369

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

57,215

(51,828

)

5,387

Restricted funds

Capital

-

(42

)

(42

)

Endowment funds

Building

-

(1,442

)

(1,442

)

TOTAL FUNDS

57,215

(53,312

)

3,903

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors with no single individual exercising ultimate control.