The trustees present their annual report and financial statements for the year ended 31 July 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 governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The primary mission statement of the Glencorse Association is "to provide recreational and educational facilities and opportunities for the people in the surrounding area.
More specifically, the association's purpose as set out in section 7 of the Charites and Investment (Scotland) Act 2005 is:
the provision of recreational facilities, or the organisation of recreational activities, with the object of imporving the conditions of life for the persons for whom the facilities or activities are primarily intended, and only in relation to recreational facilities or activities, which are:
Primarily intended for persons who have need of them by reason of their age, ill health, disability, financial hardship or other disadvantage, or
Available to members of the public at large.
The advancement of citisenship or community development.
The advancement of public participation in sport.
In furtherance of the above purpose the association seeks to:
Promote without discrimination on grounds of political, religious, socio-economic status, gender identity, sexual orientation, race or ethnicity, age. physical or mental capacity, the well-being of persons in the area surrounding the Glencorse Centre, Auchendinny, Scotland, by providing social, recreational and facilities for the advancement of education and social well-being with the object of improving conditions of life for the persons residing in the said area.
Maintain and manage, or co-operate with other bodies to maintain and manage, the Glencourse Centre and its surrounding grounds.
Raise funds and administer funds for the achievement of the foregoing objectives.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Our team of staff and volunteers have put in considerable effort to maintain the Glencorse Centre as a lively and inclusive community hub for the rural village of Auchendinny and its neighbouring areas, where access to immediate services and facilities beyond the Community Centre is limited.
During 2024-25, the Centre provided various services and opportunities aimed at enhancing the health and wellness of all its users, while also nurturing the development of long-lasting connections and support networks within our local community.
The staff have continued to collaborate with other third sector organisations and nearby businesses, reinforcing existing connections with local community centres and local development trusts. Throughout the past year, we have expanded our partnerships and enhanced our programme of activities. A key achievement was our collaboration with Pentland Athletic Football Club, supporting the development of community football for all ages, from little tots to adults. This initiative has been instrumental in making football accessible to everyone in our area.
Several community groups make regular use of our facilities, including the Howgate Ladies Rural and Scottish Women’s Institute, Eskvale Hockey Club, Italian playgroup, and Renew 26, our vital mental health support group. The breastfeeding group have just celebrated their eleventh anniversary with us and continues to prosper. Further the Centre hosts various other community activities, including art sessions, hockey club meetings, Pickleball, weekly Ceilidh classes, expressive dance and movement sessions. We have also expanded our wellbeing offerings, introducing Sound Baths, Herbal Taster Sessions, monthly Italian social support groups, Talk Therapy and counselling services, giving people opportunities to better both their physical and mental health.
Our own 50kW solar array commenced operation in March 2025 and immediately significantly reduced our environmental impact. It also made a very substantial contribution to our finances.
The Two Pines café joined us mid-July 2025 and is proving to be a most excellent café, promoting community and providing simply the most excellent drinks and cakes.
With the support of our local volunteers, we have worked to plan and execute well-received community events and fundraisers at the Centre. These have successfully brought together people from surrounding areas for fun and socialising and encouraged participation from small, local businesses. These community events have included Craft Fairs, a Halloween Party, Breakfast with Santa, a Charity Football Event, and a Community Ceilidh.
Our community garden area has been further revamped and revitalised, continuing the work from the previous year.
It is the 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 consider 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 been maintained throughout the year.
Our future plans encompass several key objectives:
Sustaining and expanding our diverse programme of social, educational, and leisure activities.
Enhancing partnerships with local groups, businesses, and organisations to offer new opportunities for the community.
Developing our community shelf initiative, supporting local crafters and small businesses.
Completing our outdoor structure project in partnership with Penicuik Men’s Shed, providing them with a permanent workshop space.
Continuing to improve our community garden, including the creation of tea garden, and food-growing area.
Ensuring the ongoing upkeep and accessibility of the Centre, maintaining a welcoming and inclusive space for all.
Expanding volunteering and training opportunities to empower individuals with new skills and experiences.
Maximising the use of our indoor and outdoor spaces to benefit as many people as possible
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.
The Glencorse Association is a registered Company limited by guarantee, and a recognised Charity. The articles allow it to be run by an Executive Board of a maximum of 12 non-executive directors/trustees. Members must stand down each year at the AGM but each member may be re-elected.
In the year under review the Association has four directors (trustees) and efforts are being made to recruit ne trustees in the next few years.
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:
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the Charity for the year ended 31 July 2025, which are set out on pages 5 to 15.
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.
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.
accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report 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.
The Glencorse Association is a private company limited by guarantee incorporated in Scotland. The registered office is 4 Firth Road, Auchendinny, Penicuik, Midlothian, EH26 0QZ.
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
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.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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.
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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.
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
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.
There were no disclosable related party transactions during the year (2024 - none).