Charity règistration numbor SC000653 (Scotlandl ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND LEGALAND ADMINISTRATIVE INFORMATION Prg8id•nt Trustees Chirlty number (scland? SCf)00653 Prln¢lp•l addrn88 Ind•pendent exarnln•r Bankers The co-operats 8ank PC Box 250 Skelmersdak? WP108 6wr Invesljnont advlsor¥ 8r¢wn Dolphin 144 Morrison Street Ednburgh EP,3 8BR
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND CONTENTS g• Trustees. report Indepwd•nt examinfjrfs rfjport Statement of financ4al liv1t 88lance sheet Not•8 lo the flnandal slalem•nl8 6-15
ENGLISH SPEAKING UNION SCOThISH BRANCHES EDUCATION FUND ESU SCOTLAND TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present thèir annual report and finanaal statents for the year ended 31 DeMber 2023. The finanaal statements have been prepad in 8rdanCe with the accnting pleS set out in note 1 to the financial statements and comply wth the chanty's consmution, the Charities and Trustee Investment (Scollandl Act 2W5. Ihe Charities Acumjnls {S¢ollandl Regulations 2008 {as amended) and 'Accounting and Reporting by ChaTitie$.' Statement of Recommended Prac"ee 8pplicable lo charities preparing their accounts in accordance wf(h the Finandal Reporting Stsndard applica10 in the UK arKI Reput4ic of Irèland {FRS 1021. {eff8clive 1 January 2019) ObJe¢tlv•• and •ctlvltlg• The English Speaking Unle Scotland is a nonwpolillcal org8ni88tion. WObl(ing people regardlèss of nationality and background, and from al walks of lrfe. Our Msion is lo provide young people in Scndand with communications skills. confideneè and opportunities to engage in an exd)ange of idea$ and opinions. We believe that good communication and tyJAural exd)ange is essenbal to indiwdual. communty and global dèvelopment and understanding. Wg njn aducational wogramme8 and rA)mW'lions lo develop confidgnl Communicators, ¢Jikn'cal thinkers and empowered Cze$. Our alms are lo prornole educalon aixoss the EnglIsPSpeaklng wortd and beyond. spectIng the traditions and hentsge of th0$9 wth whom we work, whilsl ad(nowledging the current events and issues that affect Ihern, and lo use English as 8 means of IntemalTra1 cMynlk of knowledge and underst8nding. The purposes of ESU sco8nd are.. il lo provide funding fof activities promollng debaung and publlc Speaklng of any ¢antable organlsatlon having $imilaT objects and d)ari18tAe puq)089s to those of ESU SlIand induding. bui not limited lo. Young Speakers Seolland SCIO (Scottish charity number SC050590) and having its princapal office at Norton Pa, 57 Alblon Road, Edinburgh EH7 SQY I'YSS'I. ill to maintain links wrfh other ESU partner8. A¢hhv•ments and porfomuncè In last year's accounts, we advised that our goal for 2023 was lo mplete the work wilh Lindsays {solicitors based in Edinburgh) to transler the propety al 23 Alhou Crescent. Edinburgh, together wilh ESU Scoijand's investsnenl portfolio, lo the charty, Young Speakers Sc£Jlland SCIO ISC050590). The Trustees are pleased lo confim that this transfer wa¥ ojmpleled on 23 November 2023 and Young Speak8 Scotland SCIO Is now dellvering Ihe Programmes and contwiuing Ihe of ESU slland. The main focus of ESU Scolland is nthv to ensure Ih81 Young Speakers Scolland SCIO conllnues lo successfully deliver thè great work established by ESU Scotland. Al the Trustees of ESU Scotland are also Trustoas of Young Speakers Scollanij SCIO and this allows us lo maintain conlinuty and ensure the historical goodMII we have bui over many years, is respected. The Trustees have also cnmmitted under a Memorandum of Understanding dated 4 December 2023. Ihal should ESU S(x)Iland bè in receipt of donations and legacles, the intèntlon is Ihal these r8souTces will be used lo fuThJ Ihe mission objeclives of Young Speakers Scodand SCIO 88 set out In ils con5ts"lukn"on. Financial r¢Yl¢w Incoming resources for Ihe year lotslled £41.536 (2022.. £48,92n. wthibt resources expended amounted to £682,297 12022.. £35.3541, induding grants of £642,868 12022.. £nill lo the succssor tharity Young Speakers Scotland SCIO. The trust also re¢ognised gains on investrnenls totslling £681 12022. £7.3111ossl. resultsng in an overall deuease in fijnds over the peri¢xl of £620.08012022.. £6.2621. All funds were re(lu¢ed to £nil at the end of the period in li with Ihe truslees. Pn$ lo transfer all assets to the successor chanty. Having now conduded the transfer of the prinripal assets and athw"b"es to Young Speakers ScA)tland SCIO, the trustees intend lo conduca an ord•fy wnding up ofthe iarity n the Com9 months.
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The charitys reserves have been redu to £n during the Per in kyeparation forthe ants'cpaled winding up. 3twGlurei governance and m•n•geThent The English Speaking Union Scotland 13 )n ur•n&)rp)rated tharity eatalsh¢(5 by i Rewlution dated 17th December 1952 of th8 Board of Govomcs )f the Erglish-speakjng Union of the Commonwealth. This resolution wa5 TconfiM)ed on 1st February 197S. It règistered as a knltish ¢hanty {No. Scoo¢53) under the name of English speakn.ng Unn S¢ti Br3nthes Education Fund. The Scottish National Committee ISNCI manages all the sInesS of the ENJ$h Speakjng Union In Scouana. The rnernber8 of the SNC are the TNslees 0¢ ESU So)tland and are tasked 1th approval of all d¢d$i)n$ that have 91gr¥fi¢ant impact on the 81rat¢gl¢ dkèdion of ESU Scollan¢J for ¢xarnple, th• launch of n•w in¢lialwes OT tho daeision lo r•erull additior1 stafl In 2072, Ihr fr)c9 has been on establishing Ynijng Spethers Sc(Iland as a viable SCIO in order lo lake on the operaborol aspects cl ESU Scoiland's acamty, and thi$ has Induded an EGM Io enable this direction lo ntInUe. At the EGN a motson was passed to the effect that Members of the SNC will from now on be referred lo as T1¢9$. The approval of Trusteès is required ally matters that involve committing slgnlficanl fvnds. These dec1sn$ are tsKen at Boafa meeuwJs helj at leasi tknes a year. The Trusteej F4•¢e Ilgh importance on enJLring thot thc charity's govomonce is rnrrTrod on in accordance with b¢¢t praetieè. Key aspects arè Thè Trèasurer and Chaw WO dos8ty with th8 staff afKI. whère apprnpfiatè. other eommittee members to control and manage the organisatlW'5 finances. Regular finanaal reports are presented Its each Board meelng, setting ovt particul•s )f all wicome and expendrture n¢e the last meeting, aThY highlighling movements in Ihe organisation's fijnds. An aTrnual budget is preIed lo the Board for awroval at the $tart of ea¢ finanaal year. Office bearers and membws ol tho ESU are elected by tho momborship at Ihe Afinual General M881in9. -, ha tèrm of olection is Ihreg yaars. and no offK• b•rer may hold th8 same post fcffj more than h¥0 COnSeCLJlive thrpg-ygxr tÈrns New memb8rs tsf the Board are recrurted through a prtsli¢ and trSparent recruilmenl process. Board members may be ctropted during the year. IlT atpoinlrnert is subject lo (x)nfirniaton by the membership at the nexIA. ESU Scotland has a relallonship with other rnembers of the intemaliond f8mty ofthe EnglthSpeakn"NJ Union. ESU scOand has entered into a s1-shaMg arrangement wlth Youry Speakers Stxtruano, a Scoth"$h Charitable In¢orporaled Organisation. Both or9anisaiions also share ts)mmon tal members. The trustees. port was approved by the B(BTd ofTrustees. Twstee Trustee Date.. ..-.
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ENGLISH SPEAKING UNION SCOThISH BRANCHES EDUCATION FUND I report on the finJnc4al 8tatements of th¢ charity lor the year ended 31 Dètener 2023, which are out pago$ 4 to 15. R8spoctiv8 repon•ibiliti• of trusto0• and •xaminer Th9 thanty's trust$ aro responsibb for thè pr•paratKJn of the finantial statements in acr(lanCe with Ihè lèrms of Ihe Charities and Trustee Investments Iscotland) AL# 2005 and Ihe charib.es Acts)urtts IS¢ollandl Regulats'on8 2006. The charilv's Inist&s cxmsider that the audrt requirement of Regulab'on 1011)18} lo (cl ol the 20Q6 Accounts Regulab'ons does not appty. 11 is my respDnsibi&ty lo examine the fnancial slalenEnls a$ required under section 4411){cl of Ad and lo slatewtsllr P8CUlar matters have corne my attentson. Ba•1• of IndoperMl•rnl •xnlnefs ststgmoit My examinatn is carried out In acC(nCe wrth Regutau"on 11 of e 2006 Accounts ftegulallons. An examknallon Indude5 a revlew ol the acxountiv9 reId$ k&pl by the charity arKI a comparis¢)n of the fin8nrAal statements pr¢sented wth those records. 11 elso indude8 ¢(S1deat1on of any unusual items or di8do¥uro8 in th8 finanoal sl81oment$. and i•eks explanatiors from the Injsteès eonceming any such mattèrs. The predureS undertaken do not provkle all the eden thal would be requred in an a111 and ryjnseryenuy I do not express an audlt oynion the ¥iew the fincIal stslennts. Indepgndent examinerf¥ $tat•mgnt In connection with my examinalion, no matte" has come k) rny attenlioft-. (al which gives me reasonable cause to boleve thai in any material resp8(l the requirements." {11 lo keep acc4jun11 records in accordance wth se¢tlon 44(1) (a) of the 2005 Act and Reuwlation 4 of the 20(KAccounl$ Regula.01., and Illl to prepare financial ststements which accord wrth the accounlSng records and mpty th Re9ula16on 8 of the 2006 Accwnls R•gulattons," have not t)een met {bl to whic, In my 0pm1. attent sfoLld be drawn In ordw to atsIe a propw e[standIng ol the rinancial btilteirients lo be rtsached. Dat.. .K)s.1ol
ENGLISH SPEAKING UNION scorrisH BRANCHES EDUCATION FUND ESU SCOTLAND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted R••tiicted funds fvnds 2023 2023 Totsl UnreStrIct Restrlctsd fund fvnds 2022 2022 Total 2023 2022 ncom Donations and Iggacies Charitable ath'vits"es Inveslments 10.1 3,184 36,722 (8.470) 201 10.769 37.957 201 10,769 37.957 3.184 36.722 Total Incom• (8.470) 41.538 48,927 48,927 •ndl Ralslng funds 1.200 1,200 1,200 1,200 Charitable aclwiti8s 619.320 41.777 861,097 30,282 3.892 34.154 Total •xpendliur• 820.520 41,777 662.297 31.462 3,892 35,354 Nel gainslliosses) on inveglmenls 11 (7,311) 17,311) Not loutgolnginncomlng resourcès before tr•nsfern {569.833) (50.24n 1620.080) 10.154 {3,892) 6,282 Gross transfers be88n funds 17,4041 7,404 Not movem•nl In fund {577,23n 142,843) 1620.080) 10.154 {3,892) 8,262 Fund balanee8 at 1 January 2023 577.237 42.843 620,080 $87.083 46.735 613,818 Fund balancè at 31 Dgcembor 2023 577,237 42,843 620.080 The statement of financAal 8CtiMties indudes all gains and losses rewnised in the year. All income and expenditu derive from acliwties wfilth were diso)nllnu8d during the reporting period.
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 N•tes Fixed assets Investment properties Investments 14 Is 4CK).000 145.178 545.178 Current 4s$•18 tkblors Cash al b8nk and in hand 16 22.827 57.055 27,152 27.246 79,882 Crnditors: amounts falling dutr wlthln oneyear 17 r27,246) 14,9801 Nèt current assets 74,902 Total assets l•## curfvnt Il•bllttle8 620.080 Income fvnd¥ Restricted funds Unreslncted fiJnds 18 42,843 577,237 620,060 Iho fin4nu.al statements were app¥0d by the TnJslees on .. Trustee Trustee
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ounling policio¥ Charlty Infomiallon English speakn.ng Union sCtts"$h Branches EdUcatiC Fund Is g prfvate company limiled by guarantee incorF%)raled in Scolland. The company 15 8 Tegistored Scottish tharity. 1.1 Accountlng conventlon The finanual slalemenls have been prepared in aC(than wrth the tharis resolution. the Chayllies and Tnjstee Invoslment (Scotland) Aca 2005, the Chariligs Accounts IScolland} Regulations 200$ las amended) and 'AccoLbnting and Repoty'ng by Charities.. Slalemenl of Recommendeil PraclicE applicable lo charitS prepanng their accounts in acojfdance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}. (effective 1 January 2019). The charity is a Public Berkefil Entty as defined by FRS 102. Th8 ch8rity has taken advantagè of the rw0%isiS in the SORP for dwrrties applying FRS 102 Update Bullètin I not lo prepare a Statement of Cash FkA¥s. The financial ststements are prepared in sterting. whK 1$ the funclional ¢)Jrrency of the charity. Monetary amounls in the$¢ finanaal statements are Tounded to the nearest £. The fin3wal statements have been prepared under the historical cost convenlion. modified lo indude investment properti68 and certw'n financ4al instrurnents at tsir value. The principal acojunling poliugs adopted are sel below. 1.2 Golng ¢one•m The Iruslees intend lo corKluct an ordety ndIng up of the ¢arity in the foreseeable future. AordInglY thè8e financial Statements have been pryred on a basis other Ihan wing r)Jic•m. 1.3 Charltable funds Unrestricted funds gre avallable use at tho dlsc¥ellon of trustees In furfherance of their charitable objectlves. Restricted fuftils are subject lo speufic conditions by don0 ay to hcm they may be used. The purposes and uses of the restricted fijnds are sel oul in the notes lo Ihe ffinaniial statemenls. 1A Income Income is recognised when the tharity is legalty entitled to it after any performance conditlons hav¢ been mel, Ihe 8mount$ can be measur&J rellabty, and rt is Fffobable that income will be received. Cash donations are rewgnised on receipt. Other donats.ons are reo)gnised once the tharity has been noted of the donation. unless perfixmance conditions requi deferral of the amount. Income lax recoverable in relation lo donatn$ received under Grfld of deeds of covenant Is fecognised at the time ol the donation. Leg8ue$ are recognised receipl or othemse rf the charity has been of an impending dislribulion, the amount 1$ known. and receipt is expected. W the amount is not known. the legacy is treated as a contsngenl asset.
ENGLISH SPEAKING UNION SCOTtISH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ountlng pollcl• Icontinuedl 1.5 Expgndlture All expenditure 18 indude(l on an accalS basis and is rgcognisad when there 1$ a legal or constructive obligation lo pay for experltUre. The trust is not registered for VAT, and expenditure is shown indusive of VAT. Costs ol generating fvnds c4mwise the exssts associaled wilh altracling voluntary Income and the costs of fiJndr8ising events. Charitable expenditure compn.ses those costs inThe in the delNery of the charitys actiwties and swviees for its benefiuaries. It indudes both ensls Ihal c8n be allocaied diradty lo suth acllw.tles arKI those Gosts of an Indirect nature necessary lo support Ihem. Govemance $ts Indude those costs assodaled wlth meelirvJ the CStItutiOnal ind statulw reqvirgments of the chanty. 1.6 Tangibk fixgd ••wts Tangible fixed assets are inilialty measured al cost and subsequenlty measured al cost or Valuation. nel of depreciation and any imwnnenl1088e8. Depreciatn 1$ recognised so as lo wrile off the cost or valuatson of assets le their residual values over thelr seful lives on the following bases.. FiXtuS and fittings Comp(rters and office equipment IO% slraighl line 25% straight lin• The gain or1055 aiising on the disposal of an asset is delemiined as the difference between the sale prcta8d8 and the ¢8rrying value of Ihe asset. and is recognisèd in the slalement of finanoal activilie8. 1.7 Invtrstmont proporty Inveslmgnl property, whith Is Iparty held lo eam rentals andlor fcf capital appreciation, is initially recognised at c${. whith indudes the purchase cost and any directty attributable expendrtUTe. Subsequently il 15 measured at lair value at the reporting end dats. The surplus or defial on fevaluation is recognised in Profil or loss. 1.8 Fix•d a•8•t Snvestments Fixed asset inveslments are inrfialty measured al transaction price excluding Iransaclion ¢osts, and are subsequently MeasUd at fair value at eath reporting date. Changes in fair value afe re¢xJgnisad in net Incomel(expendiluiel for the year. Transacts"on o)sls are expensed #S inewrred. 1.9 Cash and cash equlvalents Cash and cash equivalents indude cash in hand. deF)&ts hekl at Cal wth banks, other short-term liquid investments original matuniies of three mMths or less. and bank overdrafts. Bank overdrafts are shown wilhin borrowlngs in Cufrent liabilrties.
ENGLISH SPEAKING UNION scorfisH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollc1•8 {Continuedl 1.10 Flnanclal In$trum•nts The charity has eleded lo apply the yovisions ol secb.on 11 '8asK Financ4al Inslrumenls. and Section 12 'Othèr Financial Instrumènts Issues. of FRS 102 10 011 of its fina1¥1 instruments. Finanaal instruments are recognised in the charity's balance sheet when the tharrty becomes pwfy to the contractual prowsions of the instrumenl. Fbnanual assets and liabililies are offset. the nel amounts presented in the finanrAal 51atemenls. ¥then there is a legalty enforceable nght to sel off the recognised amounts and there Is an inlenlion to settle on a nel basis or lo reali5e the asset and setue the liability simuttaneousfy. Bas1¢ flnan¢l•l assets Basic finandal assets, whith indude debtors and ¢a$h and bank balances, ar¥ initially measured al tr8nsacb.on price including transaction costs and are subsequendy carried at amortised cost using the effective interest method unless the arrangement constilulas a financing transadion. where the trons8th.on is measured al the present valLbe of the (uture receipts disrA)unted at a market raie of inieresl. Finanrial assets Classifi as receivable within one year are not am0.sed. 8aslc flnanclal Ilabllleles Basic financial liabilities. induding ueditors and bank108ns org initsalty rets)gnised at transaction price unless the afrangement constilutes a financing transadion. where the debt in$tnJmenl is MeaSud at the presènt value of the tuture payments di$eounled al 8 market rate of Interest. Financial liabilities dassthed as payabl8 withln one year are not amort18ed. Debt instruments are 5ubsequenlty G8rried at an)rtiSe(l o)sl, using the offecbN Interest rate method. Trade 1y8drto are okAigation8 to pay for goods ¢x seTrices that have been acquired in the ordlnary course of operations from Suppliers. Amounts payable are assrf as currenl liabilities if payment is due within one year or less. If not, thèy are presented as norFoJrrent liabilities. Trade ueditors are recognised initially at transactk prlce and $ubsequenlty measured al amot1ised $1 using the effective interest method. Derncognltlon of flnancl•lll¥blllll•$ Finanaal liabilities ore derecognised Vt*n the thariV8 rAntracluo1 obligats'ons expl or are discharged or cancdle(J. 1.11 Employee b•n•ffts The cost of any unused htsliday entitiemenl is re(>)grwsed in the period in whith tho employeè's seceS aro re¢èiv8d. Temiinab'on beneffts are recognise(l immedialety as an expense Nthen the tharity 1$ demonstrabty commlted lo terminate the employment of on employee or lo prov7de terminab.on bgngffts. 1.12 Retlrement nofft5 Payments lo defined eontrlbullon retirement benefft sdm a tharged as an expense as they fall due.
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Critical accoundng estimates and judgements In the application of the tharity's a¢untIng p0CleS, the trustees are required to mak6 judgements, estimates and assumptions about the carrying amount of assets and liabilrties that are not readily apparent from other soureÉs. Thè estsmales and asswaled assumpt$ are based on historical eyperience and other factors that are ¢on$idered to be relevant. Actual results fflay differ from these estimales. The estimates and underfying assumptions are remewed on an ong(xng ba$i$. ReMons lo a¢untIng &slimales ale regnised in Ihe period in which the 8slimale is revised where the rewsion 8ffe¢ts only that period, or in the period of the reVIOn and fijture periods where the remsion affects both current and future periods. Don•tlon$ and l•g•¢l•s Unrnstrfcted R•$trl¢tsd fvnd fund* Total Unrn$trl¢ted fundry 202J 2023 202J 2022 Donats'ons and gnls Grants receivable 10.100 10,100 18,4701 201 (8,470) 10,100 (8,470) 1,630 201 Don#tlon$ and gfft8 Membership subsmpltons Dtsnalions 100 10,fx)O 201 10.000 10.1 10,1fy) 201 Charltsbl• actSvllS•s Charltable Charftsbl• activttifjs tiviti 2023 2022 Overheads retharged to YSS 3.184 10,769 Ch8rltsbl• tradlng Income Income from charitable actiVTlies indu(Jes amounts chargeaNe to Young Speakers Scotland. a registered scotb.sh chan"ty, under a ¢ost-sharing arrangement.
ENGLISH SPEAKING UNION scorrisH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Invo$lm•nts Unr•$trl¢tsd Unrèstsl¢t•d fund$ fund¥ 2023 2022 Rental income Investment income 30,000 6,722 30,000 7.957 36.n2 37,957 R•l$lng funds Unrestrlcted Unrestrlcted fund8 fund$ 2023 2022 Investment management 1,21)) t,200 1,200 1,200 Charltabl• a¢tlvlll¢8 Charftable Chorftable a¢tlvltl•8 a¢tlvltl•$ 2023 2022 Staff St$ Other overheads 18,263 1S,891 18,229 18,229 34,154 Grant funding of o¢*the¥ Is¢e note 81 842.868 661.097 34,154 Anatysis by fund Unreslricted fvnds Restricaed fijnds 619,320 41.777 30,262 3,892 661,097 34,154 10-
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payabl• Chrfl•blo actlvltl•s 2023 2022 Grants lo inslitulions.. Young Speakers Scotland 642.868 Tru$t••s None of the Irusle8s lor any persons o)nnected vilh them) receNed any remuneration or benefrts from the ¢hanty during the year. 10 Employ•es Tha aver89• monthty number of empknyees during the year was.. 2023 Nufflber 2022 Number Employffl•nt co•ts 2023 2022 Wages 8nd salarle8 Other pension costs 17,952 311 18.263 There were no empkyees whos6 annual remunera1 was m¢ye than £60,0. 11 N•t galnslllo$8a81 on inlments Unre•trlcted unle•tCted funds fvnds 2023 2022 Revaluatson of investments 681 (7,311} 12 Taxation No proms1 has been made fty Cra110n tax as the income of the charity 1$ Chaiitab and applied for charitable purposes. 11
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Tanglbl• flx•d a$$•ts Flxthr•s and Cornputer• fftllngs and offic• equlpment T4)t•l Co¥t or valuatton Al 1 January 2023 Disposals 16.242 (16.242) 4,107 {4.10n 20.349 120,3491 At 31 December 2023 0opro¢latlon and Impairn1ont Al 1 January 2023 Ellminaled in respect of disposals 16.242 {16.2421 4,107 {4.107) 20,349 120,349) At 31 December 2023 Carrylng munt At 31 December 2023 At 31 tlecember 2022 14 Invetment proty 2023 Falr value At 1 January 2023 Oisposals 400,000 (400,0001 At 31 Cjecember 2023 Investment property comprised 23 Atholl Crescent, Edinburyh. The fair value of the investment propety had been aTrived al on the basis of a valuation carried out by the trustees. The valuation was made on an open market value baS by reference to market een of tranS8d pric*s for similar properties. 12-
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 15 Flxed asset inve$tmonts Llsted Investments Cost or valuation Al 1 January 2023 Valuation changes Oisposals 145.178 1145,8591 At 31 December 2023 Carylng •mount Al 310eL%fflbw 2023 Al 31 Deeember 2022 145,178 16 Debtorn 2023 2022 Amounts falllng du• wlthln on• ygar. Tr8de debtors Other deblofs Prepayments and accnd income 2.SOO 19.959 22,827 17 Cr•dltorJ: amounts falllng due 7lthln one ye•r 2023 2022 Other edItorS A¢c¥u81s #nd deferred 1me 24,848 2,400 2,700 2,280 27,248 4,980 13-
ENGLISH SPEAKING UNION scorrisH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Restrictod funds The income fvnds of the dbarity indude Teslrided I1$ mFsing the following unexpended balances of donatnS and grants held on tnjsl for speo.fic purposes.. Mov•m•nt In fund• Incomlng R•sourc Balancv at R8sourc•8 •¢ l Jnu•ry 2022 Transf•r• Baln¢• •t Jl Docemb•r 2023 Evelyn Sfflall lega 43,877 (2.1001 41.TTT (41,77n Department of State grant 2,858 {1,7921 18.4701 46,735 (3,8921 42,843 (8,4701 (41.777) 7.404 The funds were held lor the ftAlowing purposes.. Evelyn Small legacy - to support public sp8aking competill¢)n8. Th18 fund w88 transferred to th8 Suc$S0r chanty Young Speakers Scotland SCIO during the year.. U.S. Dep8rtmenl of State gr8nl- lo 0ry8ni$e 8 public ypeaking wnpe1Qn, tr8inlng Scottish pupils on rhetorfe and speethmaking wth a particular focus on American and BrTbsh 8peethe$. This fvnd has now been fully expendèd. 19 Analygls of net a99•ts betsv••n lund$ Unmtrlct•d R•strlet•d lund$ funds 2023 2023 Tol*l Unrn•trFct•d R•8trlct•d fund¥ fvnds 2022 2022 Totsl 2023 2022 Fund balances al 31 Decèmber 2023 are represented by.. Investment prOpertS Investments Current asset{lIabIlit1ti$) 400,000 145,178 74,902 145,178 32,059 42,B43 577,237 42.843 620,080 20 Opèratlng l•1 commltm•nts Le$¥or The operating leases represent leases of 23 Alholl Crestwl. Edinburgh to third partses. The leases are negotiated over lemis of 25 years and rentals are fixed for five years. Al leases indude a pfowsion for five- yearfy upward rent remews according to preva1ng market coThJitions. There are no options in place for either party to exterHI the Sease lemis. At the porting end date the ¢haiity had contraded with tenants the following minimum lease payments.. 14-
ENGLISH SPEAKING UNION SCOTTISH BRANCHES EDUCATION FUND ESU SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 20 OperalSng l¢ase ¢ommllments {Contlnuedl 2023 2022 thin one year Between two and five y8ars In over five years 30,000 120.000 450,000 30,1 120,Ocl 480,0 630,OtKI 21 Related party trdn•actlon• The tharity has entered into ¥ cosl-sharing arrangefflenl wlth Young Speakers Sc4)tland, a Scoth'sh Chadlab18 Incorporated Organisatlon. Both organisab'ons also share common board members. Income from c*arilable acti¥ib8s indudes £3.184 12022.. £10.7691 in respect of amounts rethargedl to bè retharged to Young Speakers SGoliand. Expendilure on charitable a¢aiviiies indude5 £642.868 {2022." £nif) In respe¢X of grants paid lo Young Speakers Scoiland and £nl (2022.. £7.9001 in respect of wmces pro¥4ded lo the tharity by Young Speakers Scy)Iland. Al the balance sheet date. cttdltofs Indude £24.846 (2022.. £nll payable to Young Speakers Scot18nd and debtors irKludo £nU (2022.. £11.3131 TNable from Young Spe8k8rs Scottand. 15-