Company registration number SC266261 (Scotland)
Charity registration number SC035397 (Scotland)
THE FACTORY SKATEPARK LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
THE FACTORY SKATEPARK LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
Mr D Marshall
Mr N Forrest
Mr M Selvey
Mr D Chisholm
Mr N Brown
Charity number (Scotland)
SC035397
Company number
SC266261
Registered office
15 Balunie Drive
Dundee
DD4 8PS
Independent examiner
Lesley Campbell, CA
Findlays Audit Limited
11 Dudhope Terrace
Dundee
DD3 6TS
Bankers
Royal Bank of Scotland
3 High Street
Dundee
DD1 9LY
Solicitors
Gilson Gray LLP
2 West Marketgait
Dundee
DD1 1QN
THE FACTORY SKATEPARK LIMITED
CONTENTS
Page
Directors' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4 - 5
Balance sheet
6
Notes to the financial statements
7 - 18
THE FACTORY SKATEPARK LIMITED
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2026
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2026.

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 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).

Objectives and activities

Our objectives, as recorded in our Articles, are to promote the benefit of young people, the aged and disabled without distinction in common effort with others. This will be achieved through educational and lifestyle choices, others services and provision of (or assisting in provision of) facilities in the interest of their social welfare and improving their life conditions by recreation and other leisure time activities.

Public benefit

The directors have paid due regard to guidance issued by OSCR in deciding what activities the charity should undertake.

Achievements and performance

During the year in question, 2025/26 Regular rental income has now been secured from 7 tenants for the charity meaning we now have a strong regular source of income in place over the medium to long term which covers all our operating costs with a reasonable profit margin.

The Factory Skatepark is in the process of changing our name and also our objectives and are working with our lawyers and independent examiner to make representation to OSCR to represent what the charity will now do going forward now that we are no longer operating leisure facilities and are now operating only as a social landlord.

Financial review

At the year end, the charity holds funds totalling £1,578,877 (2025 - £1,465,133), of which £906,562 (2025 - £792,818) is unrestricted and £672,315 (2025 - £672,315) is restricted.

Reserves policy

The board of directors has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets, net of any loans secured over the assets ("the free reserves") held by the charity should amount to 3 months of the unrestricted reserves expended, which is currently being met. The Trustees are continuing to look at ways of increasing general funds.

Structure, governance and management

The Factory Skatepark is a company limited by guarantee and a charity, governed by its Memorandum and Articles of Association.

The directors who served during the year and up to the date of signature of the financial statements were:

Mr D Marshall
Mr N Forrest
Mr M Selvey
Mr D Chisholm
Mr N Brown
Recruitment and appointment of trustees

Directors will be identified and asked to join the board as appropriate to the needs of the charity. This will be with the unanimous approval of the board. The appointment of directors is governed by the Memorandum and Articles of Association. There is no formal induction or training procedure.

No person shall be admitted as a member of the charity unless they are appointed by the directors.

THE FACTORY SKATEPARK LIMITED
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -

The Board of Directors which meets twice a year administers the charity. The Chief Executive is appointed by the directors to manage the day-to-day operations of the charity assisted by the Deputy CEO. The current CEO is Derek Marshall.

Remuneration policy

The remuneration of the senior management team is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the directors benchmark against pay levels in the other charities of a similar size.

The directors consider the board of directors, and the senior management team the key management personnel of the charity in charge of directing and controlling, running, and operating the charity on a day-to-day basis.

The directors' report was approved by the Board of Directors.

Mr D Marshall
Director
3 July 2026
THE FACTORY SKATEPARK LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF THE FACTORY SKATEPARK LIMITED
- 3 -

I report on the financial statements of the charity for the year ended 31 March 2026, which are set out on pages 4 to 18.

Respective responsibilities of directors and examiner

The charity trustees (who are also the directors of The Factory Skatepark Limited for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity directors consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.

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.

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 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.

Independent examiner's statement

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.

Lesley Campbell CA
Independent Examiner
Findlays Audit Limited
11 Dudhope Terrace
Dundee
DD3 6TS
3 July 2026
THE FACTORY SKATEPARK LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2026
2026
2026
2025
Notes
£
£
£
£
Income from:
Charitable activities
3
69,243
-
69,243
14,339
Investments
4
240,335
-
240,335
174,817
Total income
309,578
-
309,578
189,156
Expenditure on:
Charitable activities
5
195,833
-
195,833
144,758
Other material expenditure
8
-
-
-
73,807
Total expenditure
195,833
-
195,833
218,565
Net gains/(losses) on investments
9
(1)
-
(1)
-
Net income/(expenditure) and movement in funds
113,744
-
113,744
(29,409)
Reconciliation of funds:
Fund balances at 1 April 2025
792,818
672,315
1,465,133
1,494,542
Fund balances at 31 March 2026
906,562
672,315
1,578,877
1,465,133

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 18 form part of these financial statements.

THE FACTORY SKATEPARK LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
Notes
£
£
£
Income from:
Charitable activities
3
14,339
-
14,339
Investments
4
174,817
-
174,817
Total income
189,156
-
189,156
Expenditure on:
Charitable activities
5
144,758
-
144,758
Other material expenditure
8
73,807
-
73,807
Total expenditure
218,565
-
218,565
Net income and movement in funds
(29,409)
-
(29,409)
Reconciliation of funds:
Fund balances at 1 April 2024
822,227
672,315
1,494,542
Fund balances at 31 March 2025
792,818
672,315
1,465,133
THE FACTORY SKATEPARK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 6 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
10
1,329
1,886
Investment property
11
2,020,000
2,020,000
Investments
12
-
1
2,021,329
2,021,887
Current assets
Debtors
13
32,312
67,465
Cash at bank and in hand
225,707
87,858
258,019
155,323
Creditors: amounts falling due within one year
15
(182,629)
(238,254)
Net current assets/(liabilities)
75,390
(82,931)
Total assets less current liabilities
2,096,719
1,938,956
Creditors: amounts falling due after more than one year
16
(517,842)
(473,823)
Net assets
1,578,877
1,465,133
The funds of the charity
Restricted income funds
19
672,315
672,315
Unrestricted funds
20
906,562
792,818
1,578,877
1,465,133

The notes on pages 7 to 18 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2026.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the directors on 3 July 2026
Mr D Marshall
Director
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
1
Accounting policies
Charity information

The Factory Skatepark Limited is a private company limited by guarantee incorporated in Scotland. The registered office is 15 Balunie Drive, Dundee, DD4 8PS.

The charity was previously the parent undertaking of a group that included one wholly owned trading subsidiary, The Factory III Limited (SC415994). The subsidiary was dissolved on 21 October 2025 and the group has subsequently ceased to exist.

1.1
Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (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 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.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the directors 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.

1.4
Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 8 -
1.5
Expenditure

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.

1.6
Tangible fixed assets

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:

Plant and equipment
10% to 20% straight line
Computers
3 years or 20% straight line

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.

1.7
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

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).

1.10
Cash and cash equivalents

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 FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 9 -
1.11
Financial instruments

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

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

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expenses, unless those costs are required to be recongised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recongised in the period in which the employee' services are received.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 10 -
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors 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.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Investment Properties

Investment Property is held at fair value.

The property at Balunie Drive is valued at £1,670,000. The last formal valuation was performed in 2024. The valuation remains the same based on the directors estimates of value.

The property at Camperdown Road is valued at £350,000. The last formal valuation was performed in 2024. The valuation remains the same based on the directors estimates of value.

3
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2026
2025
£
£
Charitable activities
Services provided under contract
6,000
-
Tenants recharges
44,793
14,339
Other income
18,450
-
69,243
14,339
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2026
2025
£
£
Rental income
237,612
168,642
Interest receivable
2,723
6,175
240,335
174,817
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 11 -
5
Expenditure on charitable activities
Charitable activities
Charitable activities
2026
2025
£
£
Direct costs
Staff costs
74,951
-
Depreciation and impairment
557
1,363
Repairs & maintenance
11,796
9,251
Loan interest
25,498
32,843
Bank charges
3,739
2,403
Heat & light
35,224
9,430
Rates
11,555
2,928
Insurance
14,245
11,464
Cleaning
513
848
Telephone
3,323
4,675
Computer & IT
1,800
750
Travel & Subsistance
1,003
379
Printing & stationery
130
-
Legal & professional fees
5,980
20,184
Management fees
-
42,607
Miscellaneous
2,719
1,383
193,033
140,508
Share of support and governance costs (see note 6)
Governance
2,800
4,250
195,833
144,758
Analysis by fund
Unrestricted funds
195,833
144,758
6
Support costs allocated to activities
2026
2025
£
£
Governance costs
2,800
4,250
Analysed between:
Charitable activities
2,800
4,250
2026
2025
Governance costs comprise:
£
£
Independent exam fee
2,800
4,250
2,800
4,250
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 12 -
7
Employees
2026
2025
Number
Number
3
0
Employment costs
2026
2025
£
£
Wages and salaries
62,145
-
Social security costs
7,003
-
Other pension costs
5,803
-
74,951
-
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2026
2025
£
£
Aggregate compensation
74,951
-
8
Other material expenditure

During the previous year, the charity wrote off an intercompany loan of £73,807 due from The Factory III Limited, a wholly owned trading subsidiary, following its cessation of trading on 30 September 2024. The subsidiary was dissolved on 21 October 2025.

9
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
2026
2025
Gains/(losses) arising on:
£
£
Investments written off
(1)
-
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 13 -
10
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 April 2025
779
2,470
3,249
At 31 March 2026
779
2,470
3,249
Depreciation and impairment
At 1 April 2025
111
1,252
1,363
Depreciation charged in the year
111
446
557
At 31 March 2026
222
1,698
1,920
Carrying amount
At 31 March 2026
557
772
1,329
At 31 March 2025
668
1,218
1,886
11
Investment property
2026
£
Fair value
At 1 April 2025 and 31 March 2026
2,020,000

Investment properties comprises two properties at Balunie Drive, Dundee and another property at Camperdown Road, Dundee.

The fair value of the investment properties located at 15 Balunie Drive and 99 Campberdown Road has been arrived at on the basis of a valuation carried out on 22 January 2024 by Graham & Sibbald Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors believe the value reflects the current fair value at 31 March 2026.

THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 14 -
12
Fixed asset investments
Other investments
Cost or valuation
At 1 April 2025
1
Impairment
(1)
At 31 March 2026
-
Carrying amount
At 31 March 2026
-
At 31 March 2025
1
2026
2025
Other investments comprise:
Notes
£
£
Investments in subsidiaries
-
1

The Factory III Limited is a wholly owned subsidiary incorporated in Scotland that was struck off on 21st October 2025.

13
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
-
2,361
Amounts owed by subsidiary undertakings
-
26,500
Other debtors
27,696
35,425
Prepayments and accrued income
4,616
3,179
32,312
67,465
14
Loans and overdrafts
2026
2025
£
£
Bank loans
627,774
673,074
Payable within one year
109,932
199,251
Payable after one year
517,842
473,823
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
14
Loans and overdrafts
(Continued)
- 15 -

The bank loans are secured in favour of The Royal Bank of Scotland PLC who hold a floating charge over all the assets, both present and future of the charity. A standard security is also held over the following properties:

15 Balunie Drive, Dundee, DD4 8PS
99 Camperdown Road, Dundee, DD3 8RF

Loans are financed on interest rates which are linked to the Bank of England base rates.

15
Creditors: amounts falling due within one year
2026
2025
Notes
£
£
Bank loans
14
109,932
199,251
Other taxation and social security
10,966
7,452
Deferred income
17
883
883
Trade creditors
566
443
Other creditors
56,465
26,499
Accruals
3,817
3,726
182,629
238,254
16
Creditors: amounts falling due after more than one year
2026
2025
Notes
£
£
Bank loans
14
517,842
473,823
17
Deferred income
2026
2025
£
£
Other deferred income
883
883

Deferred income is included in the financial statements as follows:

2026
2025
£
£
Deferred income is included within:
Current liabilities
883
883
Movements in the year:
Deferred income at 1 April 2025
883
1,494
Released from previous periods
(883)
(1,494)
Resources deferred in the year
883
883
Deferred income at 31 March 2026
883
883
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
17
Deferred income
(Continued)
- 16 -

Deferred income included within the financial statements relates to rental income paid in advance.

18
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
5,803
-

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19
Restricted funds

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.

At 1 April 2025
At 31 March 2026
£
£
672,315
672,315
Previous year:
At 1 April 2024
At 31 March 2025
£
£
672,315
672,315

Purpose of restricted funds:

Capital grants were awarded against the property held at 15 Balunie Drive, Dundee.

20
Unrestricted funds

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.

At 1 April 2025
Incoming resources
Resources expended
Gains and losses
At 31 March 2026
£
£
£
£
£
General funds
792,818
309,578
(195,833)
(1)
906,562
Previous year:
At 1 April 2024
Incoming resources
Resources expended
Gains and losses
At 31 March 2025
£
£
£
£
£
General funds
822,227
189,156
(218,565)
-
792,818
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 17 -
21
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2026
2026
2026
£
£
£
At 31 March 2026:
Tangible assets
1,329
-
1,329
Investment properties
1,347,685
672,315
2,020,000
Current assets/(liabilities)
75,390
-
75,390
Long term liabilities
(517,842)
-
(517,842)
906,562
672,315
1,578,877
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
£
£
£
At 31 March 2025:
Tangible assets
1,886
-
1,886
Investment properties
1,347,685
672,315
2,020,000
Investments
1
-
1
Current assets/(liabilities)
(82,931)
-
(82,931)
Long term liabilities
(473,823)
-
(473,823)
792,818
672,315
1,465,133
22
Operating lease commitments
Lessor

The charity owns 2 investment properties for rental purposes.

At the reporting end date the charity had contracted with tenants for the following minimum lease payments:

2026
2025
£
£
Within one year
153,500
164,000
Between two and five years
342,292
495,792
495,792
659,792
THE FACTORY SKATEPARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 18 -
23
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2026
2025
£
£
Aggregate compensation
74,951
-

Name of related party: Dundee Social Enterprise Network
Nature of relationship: 1 common director (D Marshall)
Nature of transaction: During the year the charity received rental income for office space within Balunie Drive totalling £2,400 (2025 - £2,000)

Name of related party: D Marshall
Nature of relationship: Director of The Factory Skatepark Limited.
Nature of transaction: D Marshall received remuneration from The Factory Skatepark Limited, for the role of director, equitable to his contract of employment with his salary authorised by the Board.

Name of related party: M Selvey
Nature of relationship: Director of The Factory Skatepark Limited.
Nature of transaction: M Selvey received remuneration from The Factory Skatepark Limited, for the role of director, equitable to his contract of employment with his salary authorised by the Board.

Name of related party: G Selvey
Nature of relationship: Wife of director (M Selvey)
Nature of transaction: During the year the charity received rental income for shop space within Balunie Drive totalling £4,125 (202 - £4,094). G Selvey received remuneration from The Factory III Limited, for the role of General Manager, equitable to her contract of employment. The Factory III Limited purchased party bags from the Balloon Factory, of which G Selvey is owner, totalling £NIL (2025 - £2,055)

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