Moray Sports Foundation
Latest income
£1.0m
Latest spending
£1.2m
Accounts read
FY2025
Form
SCIO (Scottish Charitable Incorporated Organisation)
Financial health, per FY2025 accounts
The accounts state that the charity reported a net expenditure of £142,146 for the year ended 30 April 2025, with total unrestricted reserves standing at £9,485,350. The trustees note that the charity is dependent on the Adam Family to underwrite any funding shortfall for running costs for at least one year from October 2025. Despite the operational loss, the charity holds significant unrestricted reserves and the auditor confirmed no material uncertainties regarding its ability to continue as a going concern.
What the accounts disclose
Going concern: doubt noted
“The trustees have prepared the accounts on the going concern basis on the expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Adam Family and its associated businesses have confirmed that they intend to support the charity by providing at least enough funding to cover running costs should income be insufficient to cover these costs, for at least one year from 31 October 2025.” — page 8
Per FY2025 accounts as filed with OSCR.
Related-party transaction: Donations from trustee and family
“Donations totalling £280,000 (2024 - £190,000) were received from a trustee, Mr A Adam and his family members and associated businesses. These donations were received without conditions.” — page 31
Per FY2025 accounts as filed with OSCR.
Related-party transaction: Loan from trustee-controlled entity
“Donations totalling £280,000 (2024 - £190,000) were received from a trustee, Mr A Adam and his family members and associated businesses. These donations were received without conditions.” — page 31
Per FY2025 accounts as filed with OSCR.
Employees paid over £60,000: 0
Per FY2025 accounts as filed with OSCR.
Reserves policy: sufficient unrestricted reserves to cover the day-to-day operating expenditure (held: £9.5m)
“MSF has a reserves policy for holding sufficient unrestricted reserves to cover the day-to-day operating expenditure.” — page 8
Per FY2025 accounts as filed with OSCR.
Largest income source: Donations and grants (49% of income)
“Total income for the year was £1,029,789 (2024 - £1,229,757), this included £501,564 of donations and grants” — page 8
Per FY2025 accounts as filed with OSCR.
Independent examiner: Ritsons
Per FY2025 accounts as filed with OSCR.