CHARrrY REGISTrATION NUMBER: SC000363 Dick Memorial Benevolent Society Financial Statements 31 December 2024 NELSON GILMOUR SMITH Chartered accountants & statutory auditor Mercantile Chambers 53 Bothwell Street Glasgow G2 6TB Dick Memorial Benevolent Society Financial Statements Year ended 31 Dgcember 2024 Page Trustees, annual report Independent audrtorfs report to the members Statement of financial activities statement of financial position Notes to the financial statements 10 11 Tha following pages do not fom part of the financial statements Detailed statement of financial activities 19 Notes to the detailed stslement of financial activities 20 Dick Memorial Benevolent Society Tru8tees' Annual Report Year ended 31 December 2024 The trustees present thelr report and the financial statements of the charity for the year ended 31 DeceM1￿r 2024. Reference and admlnl$trathTe dotsi18 Reglstered charlty name Did( Mem¢Jial Benevolent Sccioty SCC(10363 Charlty registratlon number Principal offico 23 Dunnott8r Street Bishopbriggs G641PR Tho trustees Audltor Nelson GilmoJr Sènjth Chartered accountsnts & ststsjtory auditor Mercantile Chambers 53 Bothwell Street Glasgow G2 6TB Bankers Bank of Swyand 2 Statj'on Road Milngav G62 8AR Dick Memorlal Benevolent Society Trustees. Annual Report(¢¢￿0￿￿8dJ Year ended 31 December 2024 Structure¥ gov8mance and managemont The s￿Iety wa8 e8tsblished by Deed of Trust in 1910 and is currenlly registered writh the Office of the Scottish Charity Regulator {OSCR) under the number Sco￿363. The Scciety is c)ver5een by a Board of Twslee8 with the membership listed above. The Truste8s meet quartedy to revkw the optr*'on of the Sooety, induLlng both investrrEnl and disbursement of ￿nds. Management: The Trustees have a duty lo Identify and review the risks to whith the charity k8 exposed and to ensure approprkgle controLq ara In pl￿ lo provKle reasc)nab'e ak£uTrnce against fraud and error. Th8 Truslees are happy wlth their Investn￿nL Manager of Ralhl)one$ Investments but with the aim of dLJe dlllg8nc8. the Trustees a￿ presen- I, see Ing quotes from other Investment Managers to ensure we ar8 gelling the best ￿￿J[D on our investments. ￿ of Gilmour Property Services Ltd our Prop8ty Manager continues to provide excellent care and se￿iCe wilh regard lo our residential property. The Scoety has recendy sold all the commerGkg1 properties.. the Pr￿eedS are currentty reinvested but we are discussbng the nK>St 5Uttable way to use th8 ww)nie5 to U)e best advantage. Objgctives and activitles The prinThpal ot4.ects of the &xiety are to provide relref to those in ne￿551t0u5 circumstanc8s who live in the East of Glasgow and in particulai former empksyees of Messrs. R & J D￿k Llmiled and their dependents. Relief 15 provided by means of financial assistan￿ pa￿ rnonthly tD individual grantees or an annual donalion to suitable organisations. Dick Memorial Benevolent Society Tru8tees' Annual Report(Gfjndnued) Year endad 31 December 2024 Achievgmgnts and perforn￿nC0 Charltable ActFvlt￿8 As in previous years our charitable activtties have fvnded entirety from incom8 from our investments and our proFertw, we have never engaged in any fundraisin9 aclivities. The number of granlees unfertunately goe5 down year by yoar with remvals and not many nevj applie*ions. We try to identify genuine cases of hardship and still rety on recomfflendaliDns from religious and ￿MMUnity leaders to suggest suitabie candtdales fDr con&deralion. The value of all grant5 was Incrèased this year. We are increasiryJ our [K)I￿Y of providing gran15 and fi￿ar￿￿1 support lo oN)èr looal organisations lo prowde care and amenty lo under-wivll￿ed cittzens in the area and this yoar have ag￿e￿ tg support over a three year tem, a project called Body & Sole lo provhye shoes and olhfrr footwear to neety children. We also suprM)rt local fc(xJ banks: child pL4ygroups, homeless missions and senior alizens clubs. In addition lo the mnthly payments whitth were reviewed this year, each grantee receives a moffttary gtll in the Su￿￿er and Christmas. Due to the current in￿eased cost of living ?11 grante&s and donab'on recipier)ts are exceedingty gratefijl. Our rental Charges are in line with nalional fyures and all He4lh and Safety requirements are adher8d to 8nd have tre necessary certifica*)n. Property portlollo Tre refurbishm&nt of our propertss has now been completed and wlth only the minimum of maintenance required, the properties are in ex¢elknl (x)ndition. The existing tenants ar8 all delighted with their new modemised homes and it is relalively easy to fill ary vacant [K¢￿rtieS imnRdiately. Our Property Manager is so W811 organised wrth a waiting lis( this can sometrmes be done wrthout any vertising, a consideratrAe saving. Investment perfornMn¢¢ By the enij of the year, wth the careful handling of our FQrtfolio by f Rathbories Investments Ltd, the value of the portlolio had increased slightly arml he was extremety dilig8nt in reporting to the Board on a wuL4r basis by eTril. As noted above the Trustees plan lo revkw the investment strategy and to tther ￿ investment seTrices in the for1hc￿lllIng year. Financlal rgvlew Income for the year w3s £337,751 and expendtture was £257.218 leawng a surplus before gain8 on investments of £80,533. Investment wrtfollo gains wèrè £33,667 gNing a surplus of £114.200. ResErves policy The value of the reseNes at year end￿ 2024 is £8.294,881 (2023 £8.180.6811 which Indudes pro5￿￿ valued al £5.819:0(Kl. Risk R8view The Trustees manage rsk by dNe[si[￿￿￿ of the types of inveslment as recommended by the Investment Man4ers. Re¥Ews ar8 held r8gularty along wrth regular retM)rts from both Investment and ProFerty Managers. Dick Memorial Benevolent Society Tru8taes' Annual Report {etythiu•dJ Year ended 31 December 2024 Trusteeg, respon$ibilltl•8 8tatement The Trustees are responsible for preparing the Report of the Trustees and the financial siatements in ance with ap ￿[cable law and United Kingdom Generalty Accepted Accounting Practice. The law applicable to charities in Swtsnd, the Charities and Truslee Investment ￿￿ts.￿g poI￿leS a￿1 then appty them ¢onsistenty - Obsetve the methcvJs and prin(aples in the Charfty SORP - Make judgements artd estinwles that are reasonablé and prudent - Prepare the financi81 sfrdtervEnts on the going concern basi8 unbss it is inappropriate Th& Trustees are responsible for keeping protEr acwunting r￿rdS whth discbse with reasoNabl8 accuracy al any tinE Ihe frnanckgl Fosition of the charity and trJ enable them to ensure that th8 rinanci81 statements compty with the Charities and Trustee Investrn8nt {Scotlandl Act 2005, the Gharrties Aco)unts ISo)Iland) Regulabons 20[￿ and ihe prov1810ns of the charrty's fA)n5titution. Th&y are also restonslble for safeguarding the assets of the charty and hence for takn'ng reasonable steps for the prevents'on ana detectron of fraud and other i￿gularitIeS We have a TNstee5 Liability Insurance policy in rAace. The trIiEI?P4' Esnniial 'e rc.iec, u and signèd on beha￿ of ihe board of Dick Memorial Benevolent Society Independent Auditorfs Report to the Members of Dick MemorFal Benevolent Society Year ended 31 December 2024 Oplnlon We have audited the financial State￿EntS of Dick Memorial Benevolent S￿￿ety (the 'charty'l for the year enoled 31 December 2024 which comprise the statement of financial activities, statement of financial posikn'on and the related notes, including a summary of sunificant accounting policies. The financial reporting framework thal has been appliod in their preparation is applicable law and United lQngdom Accounting Standards, including FRS 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland (United Kingdom Generally Acc*pled Attounting Practice). In our opinion the financial statements: gNe a true and fair view of Ihe state of Ihe charity's affa.rs as at 31 December 2024 and of its incoming resources and application of re8￿Jrce5. including its income and expendI￿re, for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. have been prepa￿ in accordan￿ with the requirements of the Charities and Trnstee Investment (Scolland) Act 2005 and reguL4tion 8 of the Charities Accounts l&oUand) Regulations 2C(e las amended). Bas￿ for oplnion We conducted our audii in acxx)rdanGe with Intematronal StsrKlards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibilities under those slandards are fijrther described in the auditoffs responsibilities for the audit of the financk41 statements se¢lion of our report. We are independent of the charrty in accordance with the requirements that a￿ relevant to our audit of the financial stalements in the UK: including the FRC'S Ethul Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. believe that the audit evidence we have obtained Is SLthcient and appropriate to F￿)V￿le a basis for our 0￿.n10￿. Concluslons relating to golng ¢on¢¢m In auditing the financial Stat￿ents. we have CO￿lud￿l th* the trustees, use of the going concern basis of accounting in the preparation of the financial statements appropriate. Based on the wort( we have perftxrned, we have nol ￿￿entifi&￿ any material un(xtainties relating to events or conditions thaL indrvidualty or collectively, may cast siqnificant doubt on the charrty's ability lo continue as a going (x)ncem for a pertiyj of at kasl twelve months from when the financial statements are authorised for issue. Our responsibilities 2nd the responsibiliti8s of the trustees with respect to going concern are described In the relevant sections of this reporL Dick Memorial Benevolent Society Independent Auditorfs R8port to the Members of Dick Memorial Bonevolènt Society (eontlnuodj Year anded 31 December 2024 Othgr Infomiatlon The other information Gomprises the infomiation included in the annual report, other than the financial statements apKI our auditorfs report Ihereon. The trustees are responsible for the other information. Our opinion on the finanGial statements does not cover the other information and, except to the exlenl otherwise explicttly staled in our repart, we do not express any fom of assuran￿ conclusion Ihereon. In connection with our audit of the financial statements. our responsibility is to read the other Information and, in doing so, consider whether the other information is materialty inconsistent with the financial statements or our knowledge obtained in the audit or 01he￿iSe appears to be materially misslaled. If we identify such materkql InC4)n￿sten¢1e$ or apparent material misstatements. we are required to determine whether there is a matenal misstatement in the financial statements or a material misslatemenl of the other infornab'on. If: based on the woth we have perfOrn￿d, we conclude that there is a material misstatement of this other infomialion. we are r4uired to report thal fact. We have nothing lo report in this regard. Matteys on whlch we are requlrod to report ty exception In the Iwjht of the knowledge and understanding of the Charity and its environment obtained in the course of the audi( we have not Klentified material misstalements in the trustees, Trport. We have nothing lo report in respect of the fdlowing matters in relation to which the Charities Accounts (Scolland) Regulat'ons 2006 las amended) requi￿$ us to report to you if, in our opinion.. the inft)rmation given in the Irustees. reF4)rt is In￿n5￿￿tent in any material respect wrth the financial statements,. or adequate accounting records have not been kept or the financial stalernents are not in agreement the accounting recor(Is and retums., or we have not received all the infomBtion and expL8nations we require for our audit. Responsibilitles of Irustees As explained more fully in the trustees, responsibilities statement, th8 trustees are responsible for the preparation of the finana81 statements and for teing satisfied that they give a true and fair view, and for such internal control as the trustees determine is ne￿Sary to enab￿ the preparation of financial statements that are free from material misstatement whelher due to fraud or error. In preparing the finar)cial statements, the trustees are ￿SpOnsIb￿ for assessing the charity's ability to conts'nue as a going concern: disclosing, as apPI￿able, matters related to going concern and using the golng ￿ncern basis of ar￿u￿tIng unless the Iwstees erther intend to IM4UKlate the charity or to cease operations, or have no realis￿ alternative bul to do so. Dick Memorial Benevolent Society Independent Auditor's Report to the Members of Dick Memorial Benevolent Society (conknu¢ Year endèd 31 December 2024 Audltorfs responslbllltles lor tho audlt of the financlal statements Our objecttves are to obtain reasonable assurance about whether the ffn8ncial statements as a whole are free from material mrsst8lemenl. whether due to fraud or error, aThJ to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bLrt is not a guarantee that an audit conducted in accordance with ISAS lu￿ will atways detect a material misstatement when il exists. Misstatements can arise from fraud or err¢y and are o)nsidered material rf, indNidualty or in the 8ggregate, they could Teasonably be expected to in1luen￿ the economic decisions of users taken on Ihe basis of these financial staiemnts. Irregularit￿5, including fraud, are instances of non-complkqnce with laws and regulations. We design procedures in line with our responsibilities: ouuined above, to detect material misststem8nts in respect of irregularities, including fraLKI. The extent to whth our prccedures are capable of detecting irregularib"es, including fraud is detailed bek)w.' Based on our understanding of the charity. we hlentified th8 principal risks of non-compliance with laws 2nd regulations and the extent lo whth nonvcompliance might have a material effect on the financial statements. We also considered those laws and ￿g￿latIOnS that have a direct impact on the preparation of the financial statements such as Ihe CharIt￿S arKI Tnjslee Investment Iscolllqndl Act 2CH)5 and the Charities Accounts (Swvand) Regulations 20(￿. We evaluated managerr]ents' incentives and 0PFX)rtun￿eS for the fraudubnt Manipulat￿ of the financial statemènts, including tho risk of override of controls. Based on our assessment we adopted a substanb've approach to our audit testing. Audit procedures perforn*d induded.. Testing 8 sample of transactmjns to source docum8ntatKin. ￿ select sample sizes havlng regard to the inherent risk (speciff¢ and general), the quality of internal ¢ontrols arKI the risk that our testing might not detect possible misstatements. Making enquiries of managen￿nt, those charged wrth governance and the entity's solicitors around actual and potential litigation and dairrts. Identtfying legislation of particu&r relevance to the entity and obtaining audit evidence regarding compliance with that legislatK)n. Auditing the risk of manage￿Ent ove￿Ide of controls. induding through testing joumal entries and other adjustments for appropriateness. and evaluating the business rats'ena18 of signiffcant Iransacb'ons outside the rKirrTEI course of business There are inherent limttations in the audit procedures described above. Also, the risk of not detecting a material misslatemenl due to traud is higher than the risk of not detecting one resultiThJ from error. as fraud may invoive deliberate concealment by, for example forgery or concealmenL As part of an audit in accordance with ISAS (UK), we exer¢Be professional judgment and maintain prOfeS￿onal scepti￿￿rn throughout the audrL We aL80'. Identify and assess the risks of material misstatement ofthe financial statements. whether due to fraud or error, design alld ￿0[M audit pro(Edures resp)nsNe to those risks, and obtain audit evidence that Is sufftient and appropriate tD provide a basis for our o￿nion. The risk of not detecting a material mis5taterrEnt resulting from fraud is higher than for one resulting from error, as fraué may involve Gdlusion, forgery, intentK)nal omissKsns. misfepresentstions, or the override of intemal o)ntrol. Dick Memorial Benevolent Society Independent Auditorfs Report to the Members of Dlck Memorial Benevolent Socioty (eonthlued) Year ended 31 December 2024 Obtaln an understanding of Intemal contrd relevant to the audit in order to design audit prO￿dureS that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the Internal control. Evaluate th8 appmpriaten8ss of accounting ￿lIcIeS used and the rèasonablèness of aC￿￿tIng estimates and related disGlosures made by the trustees. Conclude on the appropriateness of the truslees. use of the going con￿rn basis of accounting and, based on the audit evidence obtained. bthether a material unc8rtainty exists related to events or conditions that may cast signfftanl doubl on the chariV5 ability lo continue as a golng conc8rn. If w8 conclude that a material uncertainty exlsts, we are required to draw attention in our auditovs r8POrt to the r8lat8d disch)sures in the financaal statements or, ￿ such disdosures are inad8quat8, to modify our O￿niOn. Our condusions are based on the audit evidgnce obtained up to th8 dal8 of our auditorfs r8POrt. However, future events or ¢ondltions may Cause the charfty to C8as8 to continue as a going concem. Evaluate the overall presentation. structure and content of th8 financial statements. includlng tho disclosures, and whether the financial statements repr8s8nt th8 undertying transactions and events in 8 manner that achieves fair presentatlon. We wmmunicate wth Ihosg charggd wilh wvemance regarding. among other matters, the planned scope and liming of the audit and significant a￿11 findings, Including any signrfKanl deficiencies in in18mal control that we idenbfy during our audit. Use of our report Trls report is rnade solely to the ¢hariVs members, as a body, In accx)rdance w￿h Regulatlon 10 of the Charfties Accounts (Scolandl Regulattons 2006. Our audit work has been undertaken so that we mlght stsle to the charitls members those matters we are required to state to them in an audltorfs report and for no other purF)ose. To the fvllest exlent permitted by law, we do not accept or assume responslblllty to anyone other than the Charity and the charitys M&m￿rS ag a body, for our audit work, for this report. or for the oplnlons V￿ have fO￿ed. Nelson Gilmour SmiEh Chartered a[￿OUntantS & statutory audrtor Mercantile Chambers 53 Bothwell Street Glasgow G2 6TB 0410912025 Dick Memorial Benevolent Society ststement of Financial Activities Year ended 31 December 2024 2024 unrestr￿ted funds Total funds Total fvnds 2023 Income and endowments Investment income 337.751 337,751 337.751 335,424 335,424 Total Income 337,751 Expendituro Expenditure on raising fiJnds'. Investment management costs EX￿ndit￿re on charitable aclivibes Total expenditure (171,327) {171,327) 1161,913} {85.891 } (85,891) 1113,9481 1257.218) (257.2181 {275,8611 Net gains on investrnents io 33.667 33,667 1.731,989 Net In¢omt and n¢1 movom6nt In funds 114.200 114,200 1.791.552 Reconclliatlon of funds Total funds brought fO￿ard Total funds carrled forward 8.180,681 8,294,881 8,180,681 8.294,881 6,389,129 8,180.681 The statement of financial activities includes all gains and k)sses rewjnised in the year. l income and expenditure derive from conts'nuing actwities. T.he notes on payo$ 11 to 17 fomi part of fina￿la1 $lat•m¥nts. Dick Memorial Benevolent Society Statemenl of Financial Position 31 December 2024 2024 2023 Fixed assets Investments 13 B,127,634 7,992,157 Current as8•ts Debtors Ca8h at bank arml in harn 14 57.922 116.105 174027 89,696 102,728 1g2,424 Creditor8: amounts falllng du¢ wilhln on¢ y¢ar Net curront assets 15 6,780 167,247 8,294,881 8.294,881 3,9 188,524 8,180,681 8,180,681 Tolal assets loss current Ilabllltles Net a58ets Funds of tho charlty Unre8tdcted fvnd8 8,294,881 16 8,294￿81 8,180.681 8,180,681 Total charity funds Inancial statements were approved by the bcord of trustees and authorised for issue on 8nd are 8igne(i on beha f of the board by.. The notes on page5 11 to 17 lorni part ofthese lIna￿la1 51atements. 10 Dick Memorial Benevolent Society Notes to the Financial Statements Year ended 31 December 2024 General infomMtlon The charity is a public benefft entity and a registered thaThty in Scotland and is unin(x)rporated. The address of the principal office is 23 Dunnottar Street Bishopbriggs. G64 1 PR. statement of complian¢¢ These financial statements have been prepared in compliance wilh FRS 102, The Financial ReFQrting Standard applicable in the UK and the Republi¢ of Ireland.. the Statement of Recommended Practice applicabk to charities preparing their accounts in accordance with the Financial Reporting Standard applicabk in the UK and Republic of Ireland IFRS 1021 (Charities SORP (FRS 10211 and the Cha￿tieS and Trustee Investrtwt IS(x)tland) Act 2005 and the Charity Accounts (Scolland) Regulations 201￿ (as amended). Accountlng polrcies Basls of pr•paration The finanaal statsmenls have been prepared on. the historical cost basis. as n))dffied by the revaluation of certain finan￿al assets and liabilities and investment properties measured at falr value through income or expenditure. The financial siatements are prepared in sterfing. wh￿h is the functional currency of the entity. Going concern There are no material uncertainties at4Jut the charity's ability to continue. Judgements and key sources of esiimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assurywtions that affect the aTrK)unts rewrted. These estimates and judgements are continually reviewed and are based on eXperIen￿ and other factors. ir)cluding expectations of future events that are believed to be reasonabl8 under the Circumstan￿$. Fund accountjng Unreslricled funds are available for use at the dk￿reli0￿ of the trustees to fvrther any of the charity's purposes. Desigr)ated funds are unrestricted ￿ndS eannarked by the trustees for particular fv￿re project or ¢ommllmenl. Restri￿ed funds are suty'ected to restrickn'ons on their expenditure declared by the donor or throwh the terms of 8n appeal. and fall into one of h¥0 sub-classes.. restrictod income lunds or endowment funds. 11 Dick Memorial Benevolent Society Notes to the Financial Statements fconthufjdj Yaar 8nded 31 December 2024 Accountlng policies {¢onllnue Incoming resour¢es All incomlng resources are included in the statemenl of ffinancial actwities when entitlement has passed to the ¢harty', it is probable that the economic ￿nefftS assocAaled with the transaction will flow to the Gharity and the amount can be reI￿bty measured. The following specrfiG policies are applied lo particular categories of income.. income from donations or grants 1$ rewJnised when there is evidence of entitiemenl to tho gift, receipt is probatAe and its amounl Can te nwsured reltabty. legacy irtcorne is recogni8ed when r&eipt is probable and 8ntidement is established. income from donated gwds is measured at the fair value of the goods unless this Is impractical to measure reliabty. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facil(lie5 and seNices are recognised in the accounts when received if the value on be reliabty measured. No amounts are included for the contribution of general volunteers. income from ¢))rrtracts for the supply of Servi￿ is reccgnised with the delivery of the contracted serv￿. This is classified as UnreStr￿ted funds unless there is a contractual requirement for it lo be spent on a parbcular purwse and relumed if unspenL in which cas8 it may be regarded as restricted. Resources expended Expendi￿re is recognised on an accnmls basis as a liability is incurred. Expenditure illcludes any VAT which cannot be fulty recovered. and is classified under headings of the-stalemenl of financial activities to which it relates.. expenditure on raising hjnds indudes the costs of all fijndraising actNities, events, non-charitable trading activities, and the sale of d￿ated gocxjs. expendtture on charitable acbvities indudes all CA)sts incurred by a charity in undertaking activities that further its charitable for the benefit of ils beneficories, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure inclu¢Yes all expendttijre that is neither related to raising ￿ndS for the charity nor part of its expenditure on charitable athities. All costs are allocat&J to expenditure categories reflecting the use of the resource. Direct costs attribLrtable ID a single ￿1Vity are allocated directy to that actNity. Shared costs are apportioned beiween the activities they contribuie to on a reasonable, justifiable and consislenl basis. Investm•nts Unlisted equity inveslments a￿ initialty re(thed al cost and subsequenlty measured at fair value. If fair value cannot be reliabty measured, assets a￿ measured at cost less impalmEnt. Lisled investments are measured at fair value with changes in falr value being recognised in income or expenditure. 12 Dick Memorial Benevolent Society Notes to the Financial Slatements (conUnu¢¢¥ Year ended 31 December 2024 Accounting pollcles (conllnuedj Investment property Investment property is initialty record&Y at ¢))s( whKh includes purchase price and any direcuy attributable expendI￿re. Investment property is revalued to its fair value at each reporting date and any changes in fair value a￿ recognised in income or experKlrture. If a reliable measure of fair value is no longer available wlhoul undue cost or effort for an item of invesknenl property, rt shall be transferred to tangible assets and treated as such until il is expected that fair value will be reliably measurable on an on4Joing basLs. Impairm&nt of flxed ass8ts A review for indi￿t0￿ of impaimient Is (srried (JJt at each ￿pOrtIng date, with the recoverable amount being estimated where such indi(al¢YS exisL Where the caryiThJ value exceeds the recoverable amounc the asset is impaired ￿)rdIngty. Prior impairments are also revlewed for possible reversal at each reFK)rting dale. For the purposes of impairrrtnl testing, when It ts not possible to estimate the recoverabfe amount of an indivKlual asset, an estimate is m￿e of the recx)verable amunt of the cash-generating unit to whrch the asset belongs. The cash-generab'ng unil is the smallest Identifiable group of assets th8t indudes the assel and generates cash infthvs that large independent of the ¢xh inflows from other assets or groups of assets. For impairment testing of gr￿dwill, the goodwll acquired in a business combination is, from the acquisib'on date, allocated to each of the caswnerating units that are expected to benefit trom the synergies of the combination, irTesFective of whether other assets or liabilities of the charity are assigned to those units. Inveslrnent income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from investment properlies Income from listed investments Bank interest receivab Other interest receivable 285,639 35,922 1.615 14,575 337.751 285,639 35,922 1,615 14,575 337,751 3C(),908 33.912 300,908 33,912 604 335,424 335,424 13 Dick Memorial Benevolent Society Notes to the Financial Statements (eonli#u¢rfJ Year ended 31 Decomber 2024 Investment management costs Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Portfolio management Rent collection Repairs to Investment Properbes Insurance of Investh*nt Properties Council tax 12,064 39,600 77,838 41,266 559 12,064 39,61XI 77,838 41,266 559 11,111 37,650 71,300 41,414 438 11,111 37.650 71,300 41,414 438 171.327 171,327 161.913 161,913 Expendlture on charltable actlvltles by ftind type Unrestricted Total Funds unreStr￿d Total Funds Funds 2024 Funds 2D23 Charitable Grant & Donations Support costs 74.735 11.156 74,735 11.156 94,369 19.579 113,948 94,369 19,579 113,948 85,891 ￿5￿91 Expenditure on charitable aclivities by actfvlty type Grant funding of activib'es SupFQrt costs Total fvnds 2024 Total fijnd 2023 Charitable Grant & Donations Governance costs 74,735 7,436 3.720 82,171 3,720 85.891 102,938 11,010 113,948 74,735 11,1 Analy818 of 8UPPOrt CO8ts Anatysis of support costs Totsl 2024 Total 2023 Gene￿ l offi Governan￿ ￿$ts Legal & Professional Honorarium 236 3,720 236 3,720 1,369 3,510 7,500 7,200 19,579 7.200 11,156 7,200 11.156 14 Dick Memorial Benevolent Society Notes to the Financial Ststements (conthu8dJ Year ended 31 December 2024 Analysis of grnnts 2024 2023 Grants to Institutlons Lodging House Action for children Tolkross YMCA Glasgow NE Foodbank Body and Soul Baltic Street Playground Toybox Barfinnie Shetmeslon JSC East End SCC Phoenix Felkniship Blairvadoch 2.000 5,000 1,500 5,000 1,￿0 2,500 1,000 1.000 2.400 7.000 23,400 9,000 Granis to Indlvlduals Grants to indivkluals 65,735 74,735 70,969 94,369 Total grants 10. Net gains on investments unrestrict￿ Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gainslllosses) on investrrent prope Gainslllosses) on revaluation of investment prwrty Gainsl(lossesl on other inyestrnent assets 111,7371 111,737) 1,653,947 1,653,947 33,667 33,667 33,667 33.667 89,779 1,731,989 89,779 1,731,989 11. Audltors remunerdtlon 2024 2023 Fees payabb for the audit ofthe financial statements 3,720 3,360 12. Trustse remunerntlon and expenses Mr3 Maureen Brown, a trustee, received an honorarium of £7,2(K) {2023: £7,200) ft)r her role as seGretaryJtreasurer of the Society and was reimbursed for £nil 12023: £nill for stationery purchases. 15 Dick Memorial Benevolent Society Notes to the Financial Statements (conthu8d) Year ended 31 December 2024 13. Investments Cash or cash Listed Investment equivalents investments properties Total Cost or valuafjon At 1 January 2024 Additions Disposals Fair value mvements 1,611,710 7,992,157 473.230 1.108,126 {456.8861 (561,447) (1,018,333) 46,684 45,684 1.673.738 8,127,634 6,380,447 634,896 At 31 December 2024 634,8 5,819,000 Impaimient At 1 January 2024 and 31 December 2024 Canying amount At 31 December 2024 634.896 1.673,738 5,819.000 1.611,710 6.380.447 8,127,634 7,992,157 At31 December 2023 All investrnents shown above are hehd at valuation. Investmènt properties The UK Inv&stment properties are induded at a valuation of £5,819,000 (2023".£6,380,447). The ommercial properties were sokl dunng the year. Financial a5sats hold at fair value Listed Investments a￿ held at market value. 14. Dfrblors 2024 2023 Prepayments and accru￿ income Other debt￿S 38,861 19,061 57.922 36,489 53,207 89,696 15. Credltors: amounts falllng due wlthln one year 2023 Acctuals and deferred In￿lMe 6.780 3,900 16 Dlck Memorlal Benevolent Society Notes to the Flnancial Statsments IconVRU6 Yèar ended 31 December 2024 16. Anaty$l8 of Charitable funds Unr•strl¢¢od lunds At 1 January 20 24 At Gains ar￿ 31 December lo￿$ 2024 Inwme ExpendibJTe Genernl funds 8.18D,681 337.751 (257.2181 33,6S7 8,294,881 At 1 January 20 23 At Gains and 31 De￿rnber loss88 2023 In￿me Expendrtur8 General funds 6,389,129 335,424 (275.861) 1.731.989 8,180,681 17. Anatyslg of net assets between fun(ts Unrestncted Total Funds Fund8 2024 Investments Current assets Cr&Jitors less than 1 year Net a559ts .127.634 174,027 16.7801 8,294,881 8,127,634 174,027 {6,7801 8,294.881 unrestric￿ Total Funds Funds 2023 Inveslments Currenl a55el¥ Cr&Jitors less than 1 year Net ass 7,992,157 192,424 {3,9W) 8,180,681 7,992,157 192,424 (3,900) 8,180,681 18. Ralatgd partles a trustee, recerved an honOr￿1￿M of £7,2CK¢ (2023". £7.2CwJ) for her role as secre reasu"er. 17