Contents of the Financial Statements

for the Period Ended 30 April 2025

Directors' report period ended 30 April 2025

The directors present their report with the financial statements of the company for the period ended 30 April 2025

Directors

The directors shown below have held office during the whole of the period from
1 May 2024 to 30 April 2025

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
19 November 2025

And signed on behalf of the board by:
Name: Dr Lauren Doughton
Status: Director

Profit And Loss Account

for the Period Ended 30 April 2025

Balance sheet

As at 30 April 2025

The notes form part of these financial statements

Balance sheet statements

For the year ending 30 April 2025 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.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 April 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Other accounting policies

  1 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as below: BASIS OF PREPARATION The financial statements have been prepared in accordance with Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. Shetland Indoor Arena Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. CASH FLOW STATEMENT The accounts do not include a cash flow statement because the company is a small entity and in accordance with FRS 102 and Charities SORP FRS 102 is exempt from the requirement to prepare a cash flow statement. PREPARING OF THE ACCOUNTS ON A GOING CONCERN BASIS The charitable company is dependent upon external funding from a variety of funders. The financial statements have been prepared on the basis that adequate funding will be secured for the project before spending is committed. As a result, the directors have adopted the going concern basis of accounting. FUND ACCOUNTING Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors of grant-making organisations or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aims and uses of each restricted fund are set out in the notes to the financial statements. INCOME Income is included in the Statement of Financial Activities when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. The following policies are applied to particular categories of income: Income from government and other grants, whether "capital" grants or "revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. EXPENDITURE All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading: - Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. SUPPORT COSTS Support costs are those that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Charity's activities. DEBTORS Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts. CREDITORS AND PROVISIONS Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or restimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. FINANCIAL INSTRUMENTS The trust only has assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at settlement value. LEGAL STATUS OF THE CHARITY The organisation is a charitable private company limited by guarantee and has no share capital. The country of incorporation is Scotland. The liability of each member is limited to £1.

Notes to the Financial Statements

for the Period Ended 30 April 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	0	0