For
The Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee No.
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Contents of the Financial Statement
For the Year Ended 30 October 2025
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Legal and Administrative Information | 3 |
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Report of Directors and Trustees | 4 |
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Statement of Financial Activities | 9 |
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Balance Sheet | 10 |
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Notes to the Financial Statements | 12 |
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Independent Examiner's Report | 16 |
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Legal and Administrative Information
For the Year Ended 30 October 2025
PATRON
Mr Willie Rennie MSP
DIRECTORS AND TRUSTEES:
The directors of the charitable company (the charity) are its trustees for the purpose of charity law.
The Directors and Trustees serving during the year and since the year end were:
Ms
Mr
Ms
Ms
Ms
Ms
Ms
Ms
Ms
Mr
Mr
Ms
The ex officio officer who served during the year and since the year end was:
Mrs Fiona Cathcart – Treasurer
REGISTERED OFFICE:
KY10 2PG
REGISTERED NUMBER: | SC233084 |
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CHARITY NUMBER: | SC024165 |
INDEPENDENT EXAMINER:
Ian Anderson CIMA
5 Braehead,
Cellardyke,
Anstruther,
Fife,
KY10 3AH
BANKERS:
Virgin Money
7/8 High Street,
Dundee,
DD1 155
Roval Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Report of the Directors and Trustees
For the Year Ended 30 October 2025
The Directors present their annual report together with the financial statements of the company for the year ended 30 October 2025. As in previous years, the Annual Report serves the purpose of both a Trustees Report and a Directors' Report under company law. The Trustees confirm that the Annual Report and financial statements comply with statutory requirements, the governing document, and the Charities SORP (FRS 102).
ORGANISATIONAL STRUCTURE
The Directors continue to supervise the activities of the charity and monitor its financial position. The Royal Burgh of Pittenweem Arts Festival remains a company limited by guarantee with no share capital, governed by its Articles of Association. There were no changes to the staffing structure during the year.
OBJECTS
The object of the charity is to advance the education of the public in the Arts, by holding an annual Arts Festival in the Royal Burgh of Pittenweem, and other related activities.
PRINCIPAL ACTIVITY
Each year the Trustees review the Festival's aims, objectives and activities. This review considers the outcomes achieved, the benefits delivered to the public, and the extent to which activities continue to support the charity's purposes. The Trustees refer to the Charity Commission's guidance on public benefit when planning future work.
The Festival remains the leading community-based arts event in Scotland, attracting over 140 exhibiting artists in 2024 and around 20,000 visitors. The programme includes internationally recognised invited artists and the award of a bursary, generously supported by David Henderson and Sheila Inglis, to an early-career artist. The Festival gratefully acknowledges the support of Fife Council across a number of operational areas.
HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT
The Festival advances public education in the visual arts, by holding an annual arts festival in the Royal Burgh of Pittenweem. This is an enjoyable event for all ages, free to attend and attracts people from all over the world. Most of our volunteers and staff for the event are drawn from the local community or through our close links with St. Andrews University and Duncan of Jordanstone College of Art and Design. Students are keen to gain experience for their future careers in the arts from being involved in the Festival. Economically and culturally, records show the benefit to all of Fife, the East Neuk in particular, and especially Pittenweem itself. The Festival undertakes structured feedback from visitors, exhibiting artists and the local community to ensure it meets each of their objectives as they evolve. The feedback is universally positive about the Festival experience. Fife Council has previously estimated that the economic benefit to Fife is around £1.8million yearly.
Our Patron is Willie Rennie MSP who is well known in the community as a supporter of the area and of the Festival.
To ensure that our status as a professional organisation is respected, the name Pittenweem Arts Festival is trademarked for the benefit of exhibiting artists who are registered with the Festival.
Roval Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Report of the Directors and Trustees
For the Year Ended 30 October 2025
Throughout the years, the Festival has had cultural links to Europe through its invited artists and visitors and its wide connections in the art world. By providing the infrastructure for artists and visitors to interact, the Festival raises public awareness and enjoyment of the visual arts while helping artists to make a living.
FINANCIAL REVIEW
The Festival budgets to break even over the medium term. Income is derived primarily from artists' registration fees and visitor-related revenues such as car park donations and brochure sales. Additional income is generated from advertising, commissions on sales by artists using the Festival Office, and the invited artists' programme. The reinstated events programme, partly funded in 2024 by a grant from the Fife Strategic Events Fund, contributed further income through ticket sales.
Total income for the year was £143,548, an increase of 48.9% on the prior year. Growth was driven by higher artist registration numbers and the expanded events programme. Operating expenditure increased by 33% to £128,551, reflecting the increasing scale and complexity of the Festival. The operating surplus for the year was £14,997 {2024: deficit of £351).
47 High Street
The Festival acquired its heritable property at 47 High Street in 2009 from Fife Council funded largely by a deferred payment arrangement with Fife Council. Subsequent improvements were made to the property increasing its capitalised investment value to £152,853. In October 2024 a valuation of the property was undertaken by D M Hall which provided an open market value of the property of £65,000 and the carrying value has been adjusted accordingly. Discussions with Fife Council regarding the restructuring of the deferred payment arrangement remain ongoing.
INVESTMENT POLICY
Aside from retaining a prudent amount in reserves each year most of the charity's funds are to be spent in the short term so there are no funds available for long-term investment. The Charity aims to retain sufficient liquidity to ensure that it can meet the liabilities as they fall due, relating to the Festival and to finance additional investment in the business and its infrastructure. In addition, because some of the risks faced by the Festival are inherently uninsurable, it is important that the Festival retains a strong reserves and liquidity position.
RESERVES POLICY
Unrestricted Reserves now stand at £23,397 (2024 £13,400). The Reserves policy will be reviewed once the outcome of the discussion with Fife Council regarding 47 High Street is known.
GOING CONCERN POLICY
The Trustees have an expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Annual Accounts are prepared on a going concern basis.
RISK MANAGEMENT
The Board's overarching objective is to ensure that all stakeholders enjoy a safe and secure Festival experience. The Board recognises its responsibility for identifying and managing key risks and for ensuring that all participants follow the risk management guidance issued.
Risk management depends on active engagement with stakeholders including Festival staff, volunteers, exhibiting artists, venue owners, visitors, the local community and Fife Council. The Board accepts that not all risks can be fully mitigated without compromising the Festival experience. The annual risk assessment is updated to reflect experience, statutory requirements and stakeholder feedback.
Roval Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Report of the Directors and Trustees
For the Year Ended 30 October 2025
Long-term financial sustainability remains a key risk. The Board monitors liquidity, debtor and creditor balances, and working capital requirements. The potential closure of the Charles Street car park due to adverse weather remains the most significant operational risk and can only be partially mitigated. The Board has also identified the need to broaden the Festival's visitor demographic and work is underway to address this.
FUTURE PLANS
As the Festival enters its fifth decade, there is a continuing need to renew the format of the Festival and develop the visitor experience to ensure that it remains relevant and engaging. Recent visitor research has confirmed that the Festival remains an attractive event to visitors but also highlighted the need for greater investment in digital communication, supporting events and the breadth of the catering offering. The Board is committed to developing these areas and to ensuring the Festival becomes more diverse, inclusive and environmentally sustainable.
THE GOVERNING DOCUMENT
The charity "The Royal Burgh of Pittenweem Arts Festival" is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £5. The company was incorporated on 20 June 2002 and the company registration number is SC233084. The Scottish Charity number is SCO24165. The registered office of the charity is 47 High Street, Pittenweem, Fife, KY10 2PG. The charity was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
RECRUITMENT AND APPOINTMENT TO THE BOARD
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the board. All members of the board give their time voluntarily and receive no financial remuneration from the charity.
During the year, the Board undertook a programme of recruitment of new directors that resulted in the appointment of two new Board members following the retiral of four existing board members. These new appointments meet the Board requirements of an active interest in contemporary art, enthusiasm for the Festival, a strong local connection and a wide range of administrative and business skills.
TRUSTEE INDUCTION
New Trustees are introduced the Festival and its background as well as their wider responsibilities as Trustees and directors.
ORGANISATIONAL STRUCTURE
The Royal Burgh of Pittenweem Arts Festival has a Board which normally meets monthly and is responsible for the strategic direction and policy of the charity. The maximum number of Board members is fifteen. At present the Board has nine members from a variety of backgrounds relevant to the work of the charity. The Festival has a paid Infrastructure Manager and an Administrator to support the ongoing work of the Festival.
RELATED PARTIES
There are no other companies or businesses related to The Royal Burgh of Pittenweem Arts Festival. None of the Trustees receives remuneration or other benefit from their work with the charity. However, as the Board is likely to contain local professional artists who exhibit at the Festival, and the Festival brings many visitors to the area it is the case that these artists will obtain a degree of benefit. A family member of a Trustee provided catering for a Festival event at a discounted rate.
Roval Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Report of the Directors and Trustees
For the Year Ended 30 October 2025
PAY POLICY
All directors and Trustees give their time freely and no director received remuneration in the year. Details of directors' and Trustees expenses and related party transactions are disclosed in note 5 to the accounts. The pay of the staff, all of whom are part-time, is reviewed annually.
TRUSTEE RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The Trustees are responsible for preparing financial statements that give a true and fair view of the charitable company's financial position and activities. They must select suitable accounting policies, apply them consistently, make reasonable and prudent judgements and estimates, and prepare the accounts on a going concern basis unless inappropriate to do so.
The Trustees are responsible for maintaining proper accounting records, safeguarding the charity's assets and taking reasonable steps to prevent and detect fraud and other irregularities.
INDEPENDENT EXAMINER
Mr Ian Anderson was re-appointed as the charitable company's independent examiner during the year and he has expressed his willingness to continue in that capacity.
This report has been prepared in accordance with the Statements of Recommended Practice.
DISCLOSURE TO OUR INDEPENDENT EXAMINER
In so far as the Trustees are aware at the time of approving our Trustees' annual report: there is no relevant information, being information needed by the examiner in connection with preparing his report, of which the examiner is unaware, and the Trustees, having made enquiries of fellow directors that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
VOLUNTEERS
The Festival depends heavily on the services of volunteers. This is evident during the Festival, but there is also a very significant contribution from volunteers and artists throughout the year.
ON BEHALF OF THE BOARD
Julie Arbuthnott (Chair)
Date: 16/5/2026
The Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Statement of Financial Activities
For the year ended
30th October 2025
| Unrestricted | Restricted | Total | Total |
| Funds | Fund | 2025 | 2024 |
| £ |
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| £ | £ | £ |
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Incoming Resources |
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Charitable Festival Activities |
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Artists' Registration fees | 60,267 | - | ||
Grants (see note 11) | - | 18,630 | ||
Events Income | 13,797 | - | ||
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Activities for Generating Funds: |
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Advertising Income | 5,090 | - | ||
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Artists and Galleries | 2,092 | - | ||
Donations: |
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Car Park Donations | 22,099 |
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Other Donations | 2,006 |
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Brochure Sales | 17,955 |
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Members' Subscriptions | 193 |
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Other Income: |
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Bank Interest | 140 |
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Rental Income | 605 |
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Sale of Merchandise | 674 |
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Gift Aid | - |
| - | - |
Total Incoming Resources | 124,918 | 18,630 | ||
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Resources Expended |
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Cost of Generating Funds: |
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Cost of Merchandise | 264 |
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Charitable Activities | 114,087 | 13,630 | ||
Governance Costs | 570 |
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Total Resources Expended | 114,921 | 13,630 | ||
Net lncome/(Expenditure) | 9,997 | 5,000 | ( | |
Diminution after Property Revaluation | - |
| - | ( |
Balances Brought Forward | 13,400 | 25,356 | 38,756 | 126,960 |
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Total Funds Carried Forward | 23,397 | 30,356 | 53,753 | 38,756 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Balance Sheet
As at 30 October 2025
| Notes | 2025 £ | 2024 £ |
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Fixed Assets |
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Tangible Assets | 6 | ||
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Current Assets |
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Stock |
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Debtors | 7 | ||
Cash at Bank and in Hand |
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Creditors |
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Due within one year | 8 | ||
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Net Current Assets |
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Long term liabilities | 9 | ||
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Total Net Assets |
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Funds |
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Unrestricted - General |
| 23,397 | 13,400 |
Restricted |
| 30,356 | 25,356 |
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Total Funds |
| 53,753 | 38,756 |
For the year ending 30th October 2025, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
The notes on pages 10 to 16 form part of these accounts.
Signed on behalf of
Julie Arbuthnott (Chair) …………………..Date 16/5/26
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 October 2025
The notes form part of these financial statements
1. ACCOUNTING POLICIES
a) Basis of preparing the financial statement
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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102 as amended), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Royal Burgh of Pittenweem Arts Festival meets the definition of a public benefit entity under FRS 102.
b) Preparation of the accounts on a going concern basis
The Royal Burgh of Pittenweem Arts Festival reported a net cash inflow of 22,078 and a balance of unrestricted reserves of £23,397 for the year and that on this basis the charity is a going concern.
c) Incoming Resources
Donations and Grants
Income from donations and grants is included in incoming resources when these are receivable.
When donors specify that donations and grants are for particular restricted purposes, this income is included in incoming resources of restricted funds when receivable.
Grants for capital projects are credited to a separate restricted fund.
d)
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e)
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken.
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 October 2025
The notes form part of these financial statements
f)
Expenditure is included on an accruals basis and recognised once there is a legal or constructive obligation to make a payment to a third party, 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 headings:
i) | Expenditure on charitable activities includes the costs of performances, exhibitions and other educational activities undertaken to further the purposes of the charity. |
ii) | Other expenditure represents those items not falling into any other heading. |
iii) | Irrecoverable VAT is charged as a cost against the activity for which the cost was incurred. |
iv) | Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of VAT. The Charity cannot recover VAT. |
g) Tangible Fixed Assets
Furniture and Equipment is depreciated at 15% on a reducing balance basis.
Computer equipment is depreciated on a straight-line basis. No depreciation is provided on Heritable Property.
h) Stock
Any stock of merchandised goods is included at the lower of cost or net realisable value.
i) 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 due.
j) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
k)
These are costs associated with governance arrangements of the charity relating to general running rather than to fundraising or the basic charitable activity. Costs include Independent Examination of the Financial Statements, legal advice and costs associated with constitutional and statutory requirements.
l)
These are costs relating to the office function.
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 October 2025
The notes form part of these financial statements
2. NET OPERATING (DEFICITJ/SURPLUS
Net movement in funds is arrived at after charging:
| 2025 | 2024 |
| £ | £ |
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Depreciation - owned assets | ||
Bank interest payable | - | - |
Cost of Independent Examination | ||
Directors' emoluments and other benefits etc. | nil | nil |
3. CASH FLOW
| 2025 | 2024 |
| £ | £ |
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Cash and Bank Balances at 31s' October 2024 - start of year | ||
Cash and Bank Balances at 30th October 2025- close of year | ||
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lncrease/(Decrease) in Cash and Bank Balances | ||
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As follows: |
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| 2025 | 2024 |
| £ | £ |
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Net incoming/foutgoing) Reserves | ( | |
(lncrease)/decrease in Debtors | ||
(lncrease)/decrease in Stock | ( | |
Increase/fdecrease) in Creditors | ( | |
Increase/fdecrease) in Long-Term Creditors | ||
Depreciation | ||
Diminution of Property Revaluation | ||
Loss on disposal of assets | ||
Capital Expenditure | ( | |
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lncrease/(Decrease) in Cash and Bank Balances |
4. TAXATION
The Royal Burgh of Pittenweem Arts Festival is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 October 2025
The notes form part of these financial statements
5. ANALYSIS OF RESOURCES EXPENDED
| Activities Undertaken Directly | Support Costs | Total 2025 | Total 2024 |
| £ | £ | £ | £ |
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| 124,006 | 3,975 | 127,981 | 95,919 |
Governance costs | 570 |
| 570 | 1,030 |
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| 124,576 | 3,975 |
Analysis of Support and Governance costs:
| General Support | Governance | Apportioned |
| £ | £ | £ |
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Telephone, posts and stationery | 3,975 |
| Actual |
Independent Examination |
| 250 | Actual |
Legal and professional fees |
| 320 | Actual |
Analysis of expenditure on Charitable Activities:
| 2025 | 2024 |
| £ | £ |
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Events Expenditure | ||
Invited Artists and exhibitions | ||
Premises Costs | ||
Insurance | ||
Infrastructure Costs | ||
Miscellaneous Costs | ||
Performing Rights | - | - |
Repairs & Renewals | ||
Promotional Costs | ||
Box Office Wages | ||
Travel Expenses | - | - |
Depreciation | ||
Loss on Asset Disposal | - | - |
Telephone and Posts | ||
Stationery | ||
Donations | ||
Loan Interest | ||
Merchandise Cost | ||
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Total |
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 October 2025
The notes form part of these financial statements
Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel.
| 2025 | 2024 |
| £ | £ |
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Salaries and wages |
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Gallery Sitters | ||
Bus Drivers | - | - |
Infrastructure | ||
Office | ||
Brochure Sellers | ||
Trustee remuneration | - | - |
Social security costs | - | - |
Total |
All employees are engaged on short term or part-time contracts. No employees had employee benefits in excess of £60,000 (2024 none). There are no pension costs. The Trustees were not paid nor did they receive any other benefits from employment with the Charity in the year (2024: £nil). No Trustee received payment for professional or other services supplied to the charity (2024: £nil). The key management personnel of the charity comprise the Trustees and the manager of infrastructure planning and control. There are no full-time employees.
Staff Numbers | 2025 | 2024 |
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Gallery Sitters | ||
Bus Drivers | - | - |
Infrastructure | ||
Office | ||
Brochure Sellers | ||
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Total |
Trustee Expense Reimbursement - There were no Trustee expense reimbursements during the year (2024 £nil)
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 October 2025
The notes form part of these financial statements
6. TANGIBLE FIXED ASSETS
| Heritable | Furniture & | Computer | Totals |
| Property | Equipment | Equipment |
|
| £ | £ | £ | £ |
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COST |
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At 30th October 2024 | ||||
Additions | - |
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Disposals | - | - |
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Diminution on revaluation |
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DEPRECIATION |
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At 30th October 2024 | - | |||
Charge for year | - | |||
Eliminated on disposals | - | - |
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NETBOOK VALUE |
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At 30th October 2024 | ||||
At 30th October 2025 |
7. DEBTORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
| 2025 | 2024 |
| £ | £ |
|
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|
Routine debtors |
8. CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
| 2025 | 2024 |
| £ | £ |
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Routine creditors and accruals |
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
LONG-TERM LOAN
There is a long-term loan related to the purchase of the property at 47 High Street Pittenweem from Fife Council Details are as follows:
The loan is repayable only when the property is sold. Interest, also payable when the property is sold, is being accumulated at the rate of 2% over the Bank of England's base rate from time to time in force, calculated on a daily basis over the period of the loan.
Royal Burgh of Pittenweem Arts Festival
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 October 2025
The notes form part of these financial statements
The accounts reflect the interest charge adjusted from the original accrual of interest calculated on the Royal Bank of Scotland's base borrowing rate. The Council has a Standard Security over the property except for the first £35,000. The original loan was for £85,000 and now stands at £135,549 reflecting the capitalisation of accrued interest.
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted Funds | Restricted Funds | Total |
| £ | £ | £ |
|
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Fixed Assets | 43,279 | 25,356 | |
Current Assets | 120,667 |
| |
Long-term Liabilities | (135,549) |
| ( |
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| 28,397 | 25,356 |
The restricted fund is for use on the development and maintenance of the charity's property.
11. GRANTS RECEIVED
Eight grants were received this year.
Source | Purpose | Restricted/Unrestricted | Amount £ |
Fife Council | Events | Restricted | 2,400 |
Fife Strategic Events | Events | Restricted | 4,000 |
Norah Webb Trust | Events | Restricted | 750 |
Helen Mann Trust | Events | Restricted | 3,080 |
Hugh Fraser Foundation | Events | Restricted | 1,000 |
The Asda Foundation | Events | Restricted | 400 |
Visit Scotland | Events | Restricted | 6,000 |
Glasgow Film Hub | Events | Restricted | 1,000 |
Total |
|
| 18,630 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROYAL BURGH OF PITTENWEEM ARTS FESTIVAL
A COMPANY LIMITED BY GUARANTEE
I report on the accounts of the charity for the year ended 30 October 2025 which are set out on pages 2 to 15.
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. The charity 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 independent examiner's statement
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 record 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 seeks 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 accounts.
Independent examiner's statement
In the course of my examination, no matter has come to my attention 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 sections 381, 382 and 386 of the Companies Act 2006, |
• | to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations, |
have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Ian Anderson
Qualification - CIMA
Address - 5 Braehead, Cellardyke, Anstruther, Fife KY10 3AH
Date - 24/4/26
……………………………..