Ch•rfty rngl•trnlltsn numb•T 2441U (Engknnd and W•l•¥l THE CALEDON TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE CALEDON TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru•tM• StyJth8rn Fiduci•ry Lld Fkmfr4m8 Ltd Ch•rlty numb•r IEnql•nd •nd W•lvl 244868 Prfn¢lpal •ddr• Prec4nd P¢seKlon Way CV34 8BY Audltor AzotsAlll Third Floor. G•t•Y Hou Tolgalo Ch•ndknr• Ford H•mpthir• unit Ki19dom S053 3TG
THE CALEDON TRUST CONTENTS Tru¥lee¥' report Indendent a1101 r•port Sthl•m•nl of fln•ndal •cilvit l*nc• ih••t st•l•m•nt of •h Ilo N¢i•s to lh• fln•rW•l thl•m•nts 9-15
THE CALEDON TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 trustees prosent annual ffjport and finafKi81 stements for the ye ended 31 D8c8mbeT 2024. The financial sl#tements h8ve been prepared in x(¥rf8nce thg lnI11g polcies sol out in notg 1 lo th8 ffinancial statements and compty with the charity's goveming ¢k¢um8nl. the Chant5 Act 2011. FRS 102 'The Finantial Reporting Standard ap1¢3b in the UK and Reput1 of Ireland" and the Chanties SORP 'Accounling and Reporting by Charities.. Statement tsl Recommended Practice apirable lo charities preparing Iheir accounts in accoanc¥ with the Financial R•porting Starard applKabl8 in tho UK and Republ of Ireland (FRS 102)" Obl•GtlvM •nd ctlvltl•s The objec18 of the TNst. 0$ set out on the Trust deed. are for 11 PachIng and dlssemination of tha Word ol God 21 Support of Christian work•rs 31 Prowsion and maintenance of buildiry for Chrislian r8liwis ¥hIP 41 R1 ol agod or sick Chrislkgns or Christians in dthcull IXTcumstarKes The Tru8lee8 confimi Ih81 th•y have relerred lo Charity Commi66ion'6 guidanc4 on pubhc benefit when reviewing th• Tfu81'$ ains and obiedives, and in fulur• pl•nning actsffii and Betting the grant making policy for t yaar. A¢hlov•m•nts •nd p•rfonn•rt• Slgrrificanl activities and #¢hievenll$ ogwnst objoctrwes The TnJ61 ha5 made giants lolalling £1,482,15212023.. £870.9521 lo various individuals. prowding reli&f and support lo those in necossitous circumstances and providing fvnding for medi¢01 supwt. During the yeèr fvrther loan$ were made of £85,0 making a total ol £130.00012023'. £45.0) to individual$ in nggd. 11 ha8 also prwitiusty provided funding of £100.000 by way of an equrty stake a property purthase for an tlderty couple. Fln•n¢ll Mvl•w In the year ended 31 D•cmb8r 2024, Ihe Trust had a sUu8 01 incom1r re80urc•$ o¥•r re8ourcos expended of £316.728 {reslaled 2023.. £402,34n. Tolal voluntary income Ite4 th{$ y•ar was £1,827,38012023.. £1,285,8CKII. Al funds hekl ware unreslrKt•d fvNI8. ResèN&s policy The Tru$lee$ have considered the levèl of r•s¢ryes they wish to retain. approp1le lo thg charity's needs, based on 118 size and the V•1 of its finanrAal commrtments. The Trust has no employees and its r•gular outgoing5 are minimal. The Trust •im$ lo hold svfficient funds in 8 ¢uffent accounl to cover day to day exponditure, plus an allrwance for any Ufgenl needs that may arim. Unr•$trict8d reserves at the ye4r•id were £1.027.13712023.. È710.4091. Major ri8k$ The Trust•e$ have identified and ¥beWel the mayy risks lo 1c Ihe Ch•rity 1$ •xposed and ojnfirm that they have trstsbli$h•d SYStS or procedures to manage and mitsJate those risk6. Plans for futurn periods The Trustees plan lo ntinue with their plans to fulfil the trusl otyecliva5 and do not con$hJer ther* to be any going concem issue. Stru¢lurn. go¥•rnanc• and min4g•m•nt Th8 charity is conlrolkd by a deed of trust and constitule5 an urwnc¥xporat•d chaiity. The Charty is an uninca)rporaled Iwst ¢on$litirt8d by a Deed of Trust datgd 3 August 1965. The Trust wa5 Teg151ereil with the Charity Commiss for Et¥Jnd and Waes on 29 September 1W der Charity Registration Number." 244668.
THE CALEDON TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 R&¢nwtment am18pntrn&nI Oftste0S The Board5 of DirectOTS of the Corpale TnleeS meet rogartY. The Trustees al the dato this report was signed. were as fdlows.. Firmframe Lld Southem Fiduaary Ltd Th• Oirectors of Fimfftame Ltd and Southem FithJLaary Ltd afe as follrms.. John Thoma8 Carrthh Benjamin Dunham Peter John Marsh Kenny Mcmullan Rort Louis Tuffin Thè power lo appoint new Iruslees is vested with the exisling Tnjsteos of the Trust. Ther• is an informal inl•Ni and induction process for any new Trustee. Continuing Iraining for Truslees Ya undertaken through regular m•&tin9S and discussions with indiwdual$ and organision$ in ara$ supporte(I by the Tru. All Trustees arg given the r•levanl do¢umenl$ lo in r¢labon lo th¢ responsibihty of • Tru$l•t •nd th• importance ol th8 rol•. •$ well a8 Ihg lime Commrtmenl required. Wth 98rd$ to speu.fic training. Ihis would relate lo their responsibilty in the Trust. For e¥arnpl¢. any Tru51ee ¥04¥ed wilh finanrAal matters would race1 a handover detailing Ih•ir r•spon8ibilrties and dutwJ. St•t•m•nt oltru•l•••' r••pon•lbllltl•• The trust608 are responsib for preparing th• Trusl•g$' Report and the finawal 8lalemenls in a¢xord8nce wllh Applicabl8 law ond Unrt•d 'n9¢M A¢¢ounling Sl¥ndard8 {Unrt•d ngdoM Gènerally Accepl•d Accounb'ng Pr8¢li¢el. law applicabki lo charitie8 in England and WaS require8 the frvst805 to prepar• financial slalements for eath financial year which give a tvue and lair view ol the stat• of affairs of th8 tharty and of th& Incoming resourc•$ and appli110 ol rasoLtr¢•s of th• Tty for Ihal al. In preparing these financial slalemenls. Ihe tru$lee$ are WUiTed to.. stlect suitable accounting pOIA and then appty them conStent., observe the methods and princAples in the Charflies SORP., make judgemenls and estimates Ihat are reasonabk and prudenl.. state whether applicable accounting standards ha¥8 bean follcwed, $ubJ'o¢1 to any m•l•rial d6parturo$ disclosed and explain•d in the financtal stat•mènls," and - prepafg the finan(aal slalemenls on the going concem ba$ls ur40s8 11 is Inappmpriale to presuff* that the charity wlll ¢ontlnue In opra1. The iTuslee6 are responsible for keeping sUffinI accounting records Ihat disdose with reasonat4e accuracy at gny time the financial position of the charity and enable them to ensure thal th• finanaal $latemenls comply with the Charits8s Act 2011, the Charity (Accounts and Reports} Reguktions 2008 and Ihe Pfow$ion5 of the trust dèed. They arè also responsit4è for saf•guarditvJ the assels of the d)anty and hence for laking reasonable steps for tho pVentIOn 8nd dele¢tion ol fraud and other irregularities. All transa¢b"ons have been rewewed and approved by tsvo Trustees. The tru5tees' report was approved by the Board of Trustees. Rofjert Tuffin Dir8ctoi of Firmframe Ltd and Southem Fiduciary Ltd Corpornte Trustse li o.kL 2.LS
THE CALEDON TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CALEDON TRUST Oplnlon We have audited the fin8n¢wl $talements of The Caledon TTu$I Ithe'tharity'l for the year ended 31 Doctrmber 2024 which comprise the 51alemenl ol finanoal activities, the balance $heel. the statement of cash flow5 and not05 to the financial statement5. induding signffi¢ant accounb'ng policies. The fin8n(x81 rgporting framework that ha8 been 8pplieiJ In th9ir preparation is appb"calA• law and Uniied KJ'ThJdom Accounting Standards, induding Financial Roporting Standard 102 The Financial Reporting Standard applKable in the UK &nd Ropublic ol Ireland IUnRed Klngdom Generalty Awepted Aoxjunting Pracbce). In our opinion, thè financial $tat•Mts'. give a true and fair vith¥ of the stale ol 8ff8irs os 8t 31 December 2024 8nd of Its Inrn9 fe50urces and appti¢ats'on ol resources. for the year then ended.. hvè b••n prY pr•pared in accord•nee wlth Unrt•d Kngdom Generalty Accepted Accounting Pr4oti(', and have be¢n preyred in accordance with the Chonties Act 2011. B••l• for oplnlon We cond¢Jcted our audit in a¢[dance wrth Intemalitsn¥l Stsndard$ on Audrting IUKI {ISAs {UK)13nd 8ppli¢abl• 18w. Our responsibilit under those standards are further dewbed in th& Auditorfs responsiknli118$ for the 8udil of Ihg Lln8ncial StalennIS section of our r•port. We are independent of tho ¢harity in accordance wilh Ihe èthi1 r•quirfjm8nts that aro relevant to our audil of the financial slatemenls in the UK, includirtg the FRC'S Elhical Slandard. and we have fulfilled our olher eth91 responsirtIo$ in accordancts with these requirements. We believe that the audit thd•ncg we have obtained is suffioenl and 8ppropriat• lo prthrydè • basis fly twr opinion. Coneluglon• r•l•tlng to golng ¢onurn In aLKliling the ffinanual $tatements, we have conthded thal the trusta•s' UB• of the golng con¢4rn b8s1s of aCUJLinling in Ihè preparation ol th• financial slatements is •pprop(iale. 8os•d on th• Work we have p•rfom)8d, w• Idenrth1 matWi41 Uncrtgints relatkng lo •vènls or condllion$ that, indivUallY or lIe¢lely. may cast signfficanl doubl on the charity's abilty to continue as a going ¢oncom for a p•rbod of al kryasl •1¥6 months from wh¢n th• finan staterrnts are aulhori$8d for i$su8. Our Tesponsibililifrs and the roGponsitslrti•s ol tho Iw$tees with rospod to gng concem #rn d&s¢nbed In the Televanl 5ection$ of this report. Oth•r Infom)atlon The Cth8r information con$ea the iifrrmallon included in Ihe annual rep)rt h¢r than the finan(¥al 8tatemenli 4nd our audttorfs r8POrt Ihereon. The Iru$lee$ ore responsible for the other info•11¢n eont8in8d within the annual report. Our opinion on the financyal staternenls doe$ not cobr the other InfOallon and we do not •xpress any form ol assurance (xn¢ly$ion th8f80n. Our responsibilty 1$ lo the other information and. in doing $0. ¢on$ider whether the other inlomiation is malerialty inconsi51enl wrth the financi81 slalernents or our knedge obtained In the course of the 8u¢Jil. or otherwise appears to be m¥lerialy misslat&d. If we identify such material in¢onsislena&$ or apparenl material misslalemènts, we are required to determine wheth•r Ihis gives rise to a malenal mis5talemenl th• financial statements Ihemsel¥e$. If, based on the work we have pèrfomied. we conclude that there is a material mi$stalemenl olthi$ other infom)ation, are required 10 rep1 that f We h# nothing to report in this regard. Matt•rs on whlch w• arn r•quirnd to rnport ty •xc•ption We have nothing lo report in r8spect of the followiw¥J matters in r•lation to whic the Charil$ lthounl$ 8nd R8POrtsl Regulalion5 2008 iequir•s us lo rewt to you il. in our opjnion.. the infomation gNen in the financial slalemenl$ 1$ immsistenl in any rnalerial respect with tho ITUStee$' port,. or Sufficient a¢¢ounting records have not been kept." or the financial stalemenls are not in agreement with the acUntij records." or w• have not rewved th& infOmwt and explanatK)ns we requiie for our aLKlil.
THE CALEDON TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE CALEDON TRUST RpOnsibl11t1ts ol INstM8 As explained more fully in Ihe slalemenl of trustees. responsi11t¢es. the tryslees are responsible for the proparation of the financial slaternents and for being satiSfd that they give a Iwe and fair view. and for su¢h internal control a8 the trustees deteTrnine is necessary to enable the preparat of financial statements that aft free from material misstatement. whether due to fraud or errnf. In preparing the finanaal statements, the trustee$ are responsible for a$sessin9 Ihe chanty's ability lo ¢onlinue a$ a going ¢oncem, disdosing. as ap1¢able, matters related to going coneorn •nd u$ing Iho going ¢orK¢rrt basis of ar¢ountsrtg Lrnless th& tru$t••$ wlhsi intend to cease operations, or have no realistic altemalive twl to do . Audltotr• rMponSbllltlM for th• audll of th• finanelal •tat•m•nts We hav8 been appointed as audilor undef section 144 of the Charit$ Ad 2011 and roport in ac¢ordan¢o with the A¢t and r&levant r•9(81$ made or haMn9 ¥ffe¢t thgreunder. Our objectives artr Its oblain re¥$ortabltr •ssuran¢e ab)ul wh•thor th• finan¢ial $tat•men16 as a whole are frae from m•lerial misstatement. whether due to fraud or error. and to i$$ut an •udrtorfs report thal indudès our opinion. Reasonable assurance is a high Ve1 ol assurance but is nol a guaranlee that an audil conductfjd in a¢cordance with ISAS IUKI will ah¥ays detect a malerial misstatement when rt exists. Misstatemènts can aris• from fraud or error and ore considered material rf, indiwdually or in the aggregate. Ihey could reasonobly b& gxpecttrd to influence tho gconomlc d•dsbns of us•rs 1ok•n on the bash of Ih•s• financial slalgmenls. A fvrther description of our responsilItIeS is available on the Fan1 Reporting Couwl's websile 81.. http8.'11 www.ftc.org.ukJa1IIor8r0SpOnbitits. This dasulpt lo5 part of1 audilorfs report. Ext•nt to whl¢h th• •udlt W4• ¢on¥ld•rnd c•p•bl• of d•ts¢Ong lryvgul•rlll••. In¢ludlng fr•ud Irregularilies. including fraud. arè instances ol nOn-Ml)nCe wrth laws and regulations. We deswn proc4dur•s In line with our responsibilitie8. oullined above and on the Finan(¥•l Reporting Counul's website, to d¥¢1 m8leri81 misstalements in respeci of irregularilies, inthding fra1. We obloin and upda1• our understanding 01 tho •ntty, rts activities, control •nvironm•nl. and likely fu¢uro developments, in¢lLaing in relation lo the kgal and regLdalory frame¥Yth applicablg and how thtr entity is complying with Ihal framework. 88sed on this understanding. we itjentfy antj •$se$$ the ri$k$ of mJlerial misslaloment of thg financlal sttements, whelher due to fraud or erroT. de$wJn 8nd perfomi audit procedures responsive to tho$e ri$k8, and obiain audil ewdence Ihal is sufficAent and appfopriate lo provide a ba615 for our opinion. This indude8 consKl&ration of th8 risk of acts by the enlity Ihal were rnntrary to applKable and r•gulation$, in¢ljn9 fr8ud. In r•spons• to the risk of irT8gularitie$ and n(WHY)Ml81V with laws regulations. ind[Ing fraud, wè d•Sned pr¢¢etJure$ whi¢h induded". En¢4uiry of m¥n¥gemenl and those tharged wrth govemance around actual and polonlial liligation and clairns as well a5 actual. $u5pected arHJ alleged fr8ud'. Reviewing minutes ol meetings of those charged wrth governan(: Assessing Ihe extent of compliance wrth the laws and regulations considered to havg a dired material effect on the ffinancial statements or the operations of the entty through enquiry and inspgetion.. Reviewing finanoal stalement disdosures and testing to supporting doOJmentatn to assèss compliancè with applicable laws and regulalions. Performing audrt work over the risk of M8n8geffnl tias and override of ccffllro16. inchjding testing of journal enlnes and other 8djuslmenl$ lor appropriatene$$. evaluatin9 the business rationale of significant transactions outside the rrMal course ol business and revlewing aLwunb"ng estimates Iw indicators of polenlial bia5. Because of the inherent limrtations of an audrf. there is a risk thai we will not detect 811 iThegULarIt, Including those leading to a material misslatement in the finanual statements or non•compliance wilh regulation. This risk incr•ases th• more Ihal compliance with a law or wulation 15 remo from the events and transartion$ refiecled in thè financial statemgnts, as we will be sS likoty to bocome aware of instances of non-compliance. The risk of not dètecling a rnat6rial misstatement resulting from fraud is hvjher ihan for one Tesuhing from errtsr, a5 fraud may involve collusion, forgery. inIentnal omissions, misrepresentations. or the override of intemal ¢onlrd.
THE CALEDON TRUST INDEPENDENT AUDITOR'S REPORT (COKnNUED) TO THE TRUSTEES OF THE CALEDON TRUST U•• of our r•port This roport is made solety lo the charity's truste•s. as * bDdy, in #CWd{* with Part 4 of the Charhhs IA¢counls ar Report51 Regulatitsn$ 2008. Our audit work has been undertak•n x+ that wg Might state lo the tharity's Irusle•8 those motteT¥ Wg are TequiT•d lo slate to tIrn an 8uditor'g T•Wt and f no o#w purpose. To the fullest extent pomrtted by law. wo do not accept Of a8sum¢ r•sponybility to anyo than tho charity and the th8rity'9 tru81••s ¥8 a body, for our audil work. for thL8 f•POrt. or forfv opinions wè haw fOrnd. 4,A /KIA Jon Nobl• IS•nlor Statutory Audltor) For •nd on b•h•ll otAz•ts Audlt S•r¥lu•. Stsbrtory Audltor ¢h•rt•rnd Aecountsnts Thlrd Floor. G•t•way Hou Tc41galg Chandbèrn Ford H4mpshlr• S053 3TG D•l•'. 310& ?aLS Az•t8 Authl S•rvlcrf li d9ibl• for •ppoIntml •8 audllor ol tm ch•rlty ty rtl of •liglbilty for ippolntm•nt 18 auditor of a company undgr $•dlon 1212 ofth• Cornpth Acl 2QX.
THE CALEDON TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unr••trlct•d Unr•¥trlct•d fvnds fitnd• 2024 2023 a• r•itat•d Nots• Incom• from: Donations and ad•s 1.827.380 1.285.800 Totsl In¢om• 1,827.380 1.285.800 Exp•ndlturn on: 1.510,652 883,253 Totsl •xp•ndllurn 1.510.852 883,253 N•t Incom• •nd mov•m•nt In fvnd• 316.728 402.347 R•con¢llb4tlon of lund•: Fund balanc48 al l January 2024 710.409 308,082 Fund bl#n¢•# It 31 D•e•mb•r 2024 1,027,137 710,409 Th• 8l•l•mgnl offinan•1 •dMlkn8 hidth •ll g•ins •nd lomes r•o)gnis•d In y••r. Al Incom• •xwndilur• d•rtv• from ntInuIng activ11$.
THE CALEDON TRUST BALANCE SHEEr AS Af Ji DECEAIBER 2024 11 IfKI.(O) 11yJ.WAI 12 176.325 440214 Ch •t and kn h•rrfl 259.11 618,530 (32,812) (8,130) 927.137 610109 1.027.137 710,40 14 1.027.137 710,40 1,027.137 710.409 l.i.. od¥ 2oL5
THE CALEDON TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Ca#h Ilow• fmm op•rntlng a¢Ovld•• C88h {ab8orbod byllpn•ratod from op8ralionB 17 1181,0451 27S,876 N•t ¢Mh g•n•rnt•d from Inv••tlni Ktfvlll•• N•t Éa•h g•n•r•t•d fin119 4¢llvlll•• N•t IdKr••••ylncrn•M In ¢Mh •nd u•h •qulv•hnts {181.045) 275,876 C•sh •rKI c•sh •qu6v•lenls It gInnIng of y• 440,214 184,338 C••h Ind ea•h •qulv•l•nts at •fid of y••r 259,189 440.214
THE CALEDON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poll¢l•s Charlty Inform•tlon The Caledon Trust ts a ¢hanty with registralion number 244868. Tr registered office Is Second Fkjor. Regis House, 45 Wlliam SlreeL EC4R 9AN. 1.1 A¢counllng ¢onv•ntion The ffinancial slatements h8ve been pr•pared in accordanc wth thg thariivs goveming dtscumenl. th& Charit$ Act 2011. FRS 102 Yhe Finanoal Rèpoiting Standard appli¢ablè in Ihe UK and Republic of Ireland" Ind the Charbtias SORP "Accounting •nd R¢pOrtl9 by Char[t5.. Ststement of R•commended Practlce applicable lo ¢haiilies preparing their accounts in 3rdance with the Finanual R8POrting Slandard applicable in Ihe UK and R•pUl1c of Ireland (FRS 1021.. Th• chty is a Public B•n•fft Entlty 8$ defined by FRS 102. Tht financial slatamenls are pre[•d in s1othn9, which is the fUn¢tnal rrenCY of th• charrty. Monetary •rnount$ in Ih&se financial statemen15 are Tounded lo the nearest £. The financial statements have b¢•n prepared und•r thè hiskniul c4$1 ty)nvention. Thè n(ap81 I¢untIng pdicies adopted are set oul below. 1.2 Qolng ¢on¢•m Al the limo of approng Ihe financial stal•m•nl$, th twslees h•ve • rSOnabl• peCIatIon Ihal the charTty has adequate reSoUrS to conlinue in operational exisler lor the foreseeable fvture. Thus th8 trustees o)nlinue lo adopt Ihe going concem basis of a¢0n11n9 in prgparing the finanual st8l&menl$. 1.3 Ch•rbtsbh fund• Unre$lrid¥d funds are avaiLe lor u8• al the disuetion ol the trust in fvrth1ran of th•ir tharilable objo¢tive8. Restricted fvnds ore subject lo speak contJrtion$ by donors or grantors a8 lo how th•y may bo us•d. The purposes and y3 of t restrictsd funds #re set out ffi the n¢)t•s to Ihe financial 8talement8. Endowment furKI8 are subject lo Condit#8 by Ilonors that tho c•pit41 musl m8intsin•d by th• charity. 1A Incomo In¢om8 1$ recognised whon th• ch¥fty Is gnlillod lo li after any p•rfomi•nc8 ¢ldOn8 have been mel, the amunts can be measurod reliat4y. and rt 1$ probabl& that irKome will be ffj1d. Cash donation$ are r8oJgnised on ffjce. Other dwtions are Te(y)gntsed once tho tharity has been notified of the donation, unless performance CondrthS requirn defwTal of the amount. Inc(Jme tax recoverabbe in relation to donations r•ceived under Grft or deeds of venant is reLwnised al the lime of the donatn. Legacie6 are re¢ogniset1 on receipt or 01heiSe rf the ¢harity has been notified ol an impending distribution, the amount is known, and rec is expected. 11 the amounl is not known. the legacy is Ire8led a$ 8 ¢ontingent asset.
THE CALEDON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcl•s (Contlnuedl 1.6 Exp•ndliuY• Expenditure rs regnised once Ih&re ts a al or conslru¢tThe Oblatn lo transfer economic bentfrt lo a third party, Il is probable that a transfer of e(nomK beneffts wiu be required in 5etll•m•nt, and the amount of the obligation ¢an be measured Te1bty. Expenditure is cla59iW by actmty. The costs of each acthwty are made up of the total of direct eosts and yhared costs, including support costs invofved in underta"n9 9o¢h ¥¢tNty. Diiect costs attributable to 8 sin916 actiwty are aNocat8d directly to that acljwty. Shared $1$ vA)i¢h ttsnlribute lo more than one actbvity and support costs which a not attribirtable to 8 single 8clm.ty are appOrtned beeen those a¢tivrf$ on a basi5 nsislenl with the use of resoufce3. Central Staff costs afe allocated on the bo$ff4 01 lime spent, and depre¢ialion ¢harges •re alotsled on t Wion ol the asset's use. 1.6 Tnglbl• Ilx•d ••Mts Tangible fix&d assets ore initialty measur¢d 81 ¢08t arwj subsequtsnty measured at $¢ or valuation. net of d•pr•Uall #nd any impainYnt knses. Depreciation 1$ recognised $0 #s lo wnle off the OT v4lu•tion of •55ets bess th•ir re$idug1 valv08 over their U6èful livès on tho following bases.. Equtty Slake In property Th8 gain or loss arising on the disposal ol In asset 1$ dotèrmin•d as the drfferenco b8lween the proceeds and the c5ffn9 value olthe asset, al M rtcogni5ed in 8tat•ment ol finanrAal a¢tNth'•i. 1.7 Impalmi•nt offix•d Al ga¢h reporting end dal&. the ¢h¥rity rOtw$ the Carrying amounts of ils langibl8 0$s818 lo determine whether there 1$ any Indi110 that Ihose assels have suffered an impairment loss. 11 any such indication ex181s. the recovernbl6 amount of the assel 18 eth'maled in order to deterfflin• th• extent ol the impaiTrn•nt 10$81rf onyl. 1.1 C•h •nd ¢a$h •qulv•lents Cash and ¢ash equivalents InCe cash in hand. deptssrt. s held al cal with banks, other $hort4erm IKIUKI investments with original maturities ol three ThnthS or S8, and bank overdraft5. Bank overdraft5 are ShNn wilhin borrowings in current IiabilrtS. 1.9 Flnanclal Intrum•nts The charity has elected to apFty the provisions of Section 11 '8asic Finonryd Instruments, and S•dion 12 'Othor Financial Instrurnenls Issuos, of FRS 102 to all of its financial instrument$. FlnancAal instruments ar8 renISed in the th8riVs bal#rKe sheet vthen dlarrty becom•$ yrty lo the contract1 provb$ion$ ol the inslrumenl. Flnancial asstrls and liabilities are offset. with the nel amounts presented in the fmanoal slaternents, when there is a legally enforceable right to sel off the recognised amounts and the is an intention to settle on a nel ba818 or lo realise the asset and setlle the liabdity simultaneousty. B•sk financhl•ss•ts Bas financial assets, which inchjde debtors and cash and bank balances, arè inrtially measured at trnsaclion price induding transaction costs and are sUbseq¥jent carried al amorb.sed cost using the effecti interest method unless the arrangement constilutes a finanang transxtK)n. where the transaction is measured at the present value of the luture reIp1S discoun1 at a mathel rate of interesl. Financial a$s&ls classified as reCeiVae within one year are not amortised. 10-
THE CALEDON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policie• {Contlnuedl B•sle flnanel•l li•bllltle¥ Basic financial Iiats"lrties. induding creditors are inilialty recognised at transactKJn price unless the arrangemenl constitute5 a finan¢in9 transaclion. t•there the debt in51rum•nt is measured at Ihe presenl value of th• futurè payments discounted 81 a rnatt rale of inlerest. Finanryal liatshtses classified as payable within one yeai are not amortised. Oobl inslrumtrnls are $ybsequentty carried al 8morli8ed ¢osl. using the effective interest rale molhod. Trade creditors afe obligats.ons lo pay for 9oods or seThice5 that ho b••n aCqUid in the Ordary course of opèrations from supplier5. Am¢)unl$ payable are dass[rd as caJrTenl liabilrts rf payment is due within one ygar or less. 11 nol. they are present as nO1crrent liabilities. Tradtr ¢rèdilors are recognised initially at Iransadion Pri and sUbseqLnIty m•asufed al amortised cosl wng Ihè effective interest mfjthod. D•r•cognlllon of Ilnan¢l•lllabllltl•s Fln8nci81 liabilrtles are dgre¢ogni8ed Vlthen Ihe tharity's ntraCtUal oblvJations txpre or are dIharged or cancelled. Crftlcal accountlng ••llmats¥ •nd ludq•m•nl• In the 8ppli¢alion of the charty's acLounting polides. th& Iwstees are required lo make iudgem¥nls. eslimal$ and assumptions aboul the ¢arrying amount ol as5el$ 8nd h"abililies that are rt readily apparent from tslher sources. The eslimales and ossociat•d assumplions are based on historical experienc al other factors that re considered lo be relevant. Actual i¢$ults may drffer from Ihese eslimal&s. The &slimale$ and underlying assumplknis are remewed on an ongoing basis. Rewsions to accountlng eslimeles art rfj¢ognised in the period in ¥thi¢h th¢ e$limat¥ is revised where the rewslon affeds only that period, or in the perbd of Ihe revision and futurè Ped5 wh•r• the revision affects both current 8nd lulure periods. In¢om• from donatlons and l•g¢l•• Unv•strlct•d funds 2024 Unr••trSct•d fund• 2023 •• re*t•ted Donations and grfls Grants 194,600 1,632.780 1,285.800 1.827.380 1,285.800 11
THE CALEDON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 exp•ndltyr• on ¢h•rtl•bl• •¢llvlll•• Chrft•bl• Ch•rfl•bl• •xp•ndlturn •xp•ndltur• 2024 2023 DFr•ct co•ts 84nk charg•s L•g•l fe•8 42 12,155 3,922 12,197 3,922 Grant fundkng of aclMtl•8 (8•• nol• Sl 1.482.152 870.952 8h•rn of •upport •nd gov•M•n ¢o•ts (••• not• 6) Support Gov•mnc• 116 18,187 671 7,708 1,510,652 883,253 AMly•l# by lund Unr•8lrict•d fund•- g•n•rnl 1,510,052 883,253 Or•nts p•yab4• Ch•rMabl• Ch•rfl•bl• •xp•ndltur• •Xp•ndl1• 2024 2023 Gran18 lo 0rg4nMIIs GrMl8 lo Indlvidu•l$ 84,000 786,952 1.482.1S2 Support co•1• •lloc•t•d to •ellvltl•• 2024 2023 IT c0811 Govfjm•n ¢08ts 118 16,187 671 7.708 18.303 8.379 An•ty••d b•tw••Th: Charitable expenditur• 16.303 8,379 Gov•mance costs inthdes p•ynwnts to th• •ItOrS of£9.720 (202> £4,500) for alit f••s. 12.
THE CALEDON TRUST NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Il•t moTMm•nt In fund• 2024 2023 The nol mov•m•nl in fund$ A tht•d 4ft•r thwglrWluwlirvJ): F••8 payab for the audm of th• th•riVs firwKial 8tat•m•nts g.no TnMt• Non• of th• Iru8tM¥ {or ony wrsons (Thrct•d wlth Ilwnl r•c•hMd any r•mun•ratlon or b•fftl from th• ¢hanty dudng th• yoar12023: none wore robmburn•d). EnN>loy• Th•M w•r• •mpby•es in th• yw (2023: Nornl. 10 TtIon Th• th•rty Is •x•mpt from t•xation on Its lJ•c•uM Il Incom• li 4pp¥•d ft>r thrlt•bl• purpo••$. 11 T•n9lbl• flx•d ••••t• Iquty •l•k• In Co•1 At 1 jY•ry 2024 100,000 At 31 DOc•mr 2024 100,000 Carrylng Amoynt At 31 D•c•mber 2024 100,¢YJO Al 31 D•c•mb•r 2023 la.000 Th• abo¥• •quty sl•k• r•lo1•• lo a 17.83% sharn kn • Fre•hold Propwty owned urthr • declorallon of tru•t. Th• v4luè w1 only b• re4liwl on • ul• of th• woperty or th• d••th olth• oc¢yJpi•rn. -13-
THE CALEDON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 D•btor• 2024 2023 a• rnstst•d Amounts falllng duo wlthln on• y•ar. Loan$ Prepayments and accrued income 115.IN)O 570.780 131,325 085,780 137,325 2024 2023 Amounts filllng du• after mor• than on• ymr. Loans 15.000 45,000 Tot•1 d•blov• 700.780 176,325 The loans 81¢ inl•r•sl fr•• and th•r* is no connticlion trIe8n thtr Tru8tsè8 of Thg Calodon Trust and the reaplenl. 13 Cr•dltorn: arnounts f•Ning du• wlthln on• y•ar 2024 2023 Othèr cr•drttsTS Ae¢ru8ls and deferred income 20,032 12,780 130 32,812 6.130 14 Unf••trfct•d fund• The unrestricted funds of the charity comprise Ihe unexpended balarths of donation$ and grants which are not subject lo specffic )nditIonS by donors and grantors as to how they may used. Al 1 J•ny•ry 2024 In¢omlng RMourc•8 r••our¢ •xpend•d At31 DO¢•mr 2024 General funds 710,409 1.827,380 {1,510,652} 1,027,137 Previo year: At 1 January 2023 Incomlng R•sour¢•s resour¢es •Xnded At31 Decemb•r 2023 Ganeral funds 308.IK 1,285.600 1883.2531 710,409 14-
THE CALEDON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 R•latsd p•rty traMacllons There were no ¢Jsdo8able related paty transadKffls during the year Q023- none). 16 PrlN p•rlod adjustment Ch4ngM to b•lan¢• •hs•t A• pr•¥lou8ly AdJwlm•nt A• mlt rnport•d Currnnt a•••t• A¢crd Incom• 131.325 131,325 Fun Unr&stTKted fund5 579.084 131.325 710,409 Ch•ng•• to •tst•m•nt of financ1 •¢tlvlll•¥ A• prnvlouBly AdIlMTht A• mlat•d r•port•d P•rfod •nd•d 31 D•c•mb•r 2023 In¢om8 1.154.275 131,325 1,285,800 Aru incomo for th8 yo•r énded 31 DK•mb8f 2023 was adiuslèd 80 that i1me rtt•iv•d in th• y¥ar Is correth r•flected fof Ihe year ended 31 De¢emb•r 2024 and the prior year. 17 C•¥h laho•d byyg•n•rat•d fvom op•r•OonB 2024 2023 sur$ for the year 318.728 402,347 Mov•m•nts In worlng pIt1. Ilncreasel in debtors Increase in uedilor8 1524.4551 26.682 1131,3251 4.854 C••h 1ab8Ortd byVg•n•rat¢d from op•Y•tloM 1161,045} 275.876 18 Anoly•l• of ¢hang•s In n•t fund• Th• charily had no material debt during the year. 15-