Charity registration number S$C003240 (Scotland)
CROMWELL PROPERTIES CHARITABLE TRUST FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
CROMWELL PROPERTIES CHARITABLE TRUST FUND
CONTENTS
| Page | |
|---|---|
| Trustees report | 1-2 |
| Statement ofTrustees responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notestothefinancialstatements | 7-9 |
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CROMWELL PROPERTIES CHARITABLE TRUST FUND
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
Objectives and activities
The principal objectives and activities of the Trust are the financial support of such religious and charitable organisations or activities at such places and such times and in such ways as the trustees shall in their sole discretion determine so that no part of the Fund may be used for any other purpose.
Achievements and performance
During the year the Trust has allocated some of its resources to appropriate charitable organisations. The trustees are satisfied that these actions have been in accordance with the constitution and purposes of the Trust.
The trustees are involved on a practical level with many of the organisations that they support and estimate that they will have given of their time and expertise to the extent of approximately 50 hours during the year.
Financial review
Significant cash is held at year end and the charity has no future commitments.
Reserves policy
As the income to the Trust can be sporadic reasonable cash balances are held to enable the Trust to make regular donations from one year to the next.
Structure, governance and management Governing document
The Trust was constituted by a Deed of Trust registered in the Books of Council and Session on 16 August 1988.
The trustees who served during the year and up to the date of signature of the financial statements were:
Recruitment and appointment of new trustees
Trustees are appointed after serving as an observer of the Trust for twenty four months. During this period a prospective trustee attends trustee meetings, considers applications for funding, visits charitable projects and learns how to properly discharge the duties of a trustee.
Organisation structure
Under the rules for financial administration the trustees act on behalf of the Trust in all fiduciary matters and have appointed TT. act as Administrator.
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CROMWELL PROPERTIES CHARITABLE TRUST FUND
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Reference and administration details
Principal address 13 Larchwood Hillhead Road Bieldside Aberdeen AB15 9EJ
fl Azets 37 Albyn Place Aberdeen AB10 1JB
Bankers The Royal Bank of Scotland Pic 78 Union Street Aberdeen AB10 1HH
The Trustees report was approved by the Board of Trustees.
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CROMWELL PROPERTIES CHARITABLE TRUST FUND
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees are resporsible for preparing the Trustees Report and the financial statements in accordance with applicable law ard United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which ¢ ve a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe tne methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed anc explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust anc hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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CROMWELL PROPERTIES CHARITABLE TRUST FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CROMWELL PROPERTIES CHARITABLE TRUST FUND
| report on the financial statements of the Trust for the year ended 31 March 2025, which are set oul on pages 5 to 9.
Respective responsibilities of trustees and examiner
The Irust’s trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was 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 seeks 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 | do not express an audit opinion on the view given by the financial statements.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
| understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements: (i) | to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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(ii) to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
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have not been met or
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(6) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Azets 37 Albyn Place Aberdeen AB10 1JB
Dated: 17 April 2025
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CROMWELL PROPERTIES CHARITABLE TRUST FUND
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: Donations and legacies |
2 | 30,000 | 25,000 |
| Expenditure on: | |||
| Charitable activities | 3 | 26,662 | 26,813 |
| Net income/(expenditure) for the year/ | |||
| Netmovement in funds | 3,338 | (1,813) | |
| Fund balances at 1 April 2024 | 12,914 | 14,727 | |
| Fundbalancesat31March2025 | 16,252 | 12,914 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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CROMWELL PROPERTIES CHARITABLE TRUST FUND
BALANCE SHEET
AS AT 31 MARCH 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Cash at bank and in hand | 17,917 | 14,579 | |||
| Creditors: amounts falling due within | |||||
| one year | 7 | (1,665) | (1,665) | ||
| Net current assets | 16,252 | 12,914 | |||
| Income funds | |||||
| Unrestricted funds | 16,252 | 12,914 | |||
| 16,252 | 12,914 |
The financial statements were approved by the Trustees on 17 April 2025
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CROMWELL PROPERTIES CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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1 Accounting policies
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1.1. Accounting convention The financial statements have been prepared in accordance with the Trust's Deed of Trust, 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 Trust is a Public Benefit Entity as defined by FRS 102.
The Trust 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 Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2. Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3. Income Income is recognised when the Trust 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.
- 1.4 Taxation The charity is exempt from tax on its charitable activities.
1.5 Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. The trustees maintain a single unrestricted fund for the day-to-day running of the charity.
2 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | fa | |
| Donations and gifts | 30,000 | 25,000 |
| Donations and gifts | ||
| Energy Legal Solutions Limited | 30.000 | 25,000 |
| 30,0090 | 25,000 | |
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CROMWELL PROPERTIES CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
3 Charitable activities
| Unrestricted | TotalUnrestricted | Unrestricted | Total | |
|---|---|---|---|---|
| fund | 2025 | fund | 2024 | |
| 2025 | 2024 | |||
| £ | £ | £ | £ | |
| Accourtancy | 1,662 | 1,662 | 1,809 | 1,809 |
| Donatons to Marys’ Meals | 5,000 | 5,000 | = | = |
| Banx charges | - | - | 4 | 4 |
| Donations to Woridlink International Ministries | - | - | 4,500 | 4,500 |
| Donatons to Stream Studio CIO | - | - | 5,000 | 5,000 |
| Donations to St Paul's & St George’s Church |
- | - | 1,000 | 1,000 |
| Donations to Deeside Christian Fellowship Church | 15,000 | 15,000 | 10,000 | 10,000 |
| Donations to Shared Hope | 5,000 | 5,000 | 4,500 | 4,500 |
| 26,662 | 26,662 | 26,813 | 26,813 |
- 4 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the vear.
There were no trustees’ expenses paid for the year enced 31 March 2025 nor for the year ended 31 March 2024.
- 5 Movement in funds
| Movement in funds | ||||
|---|---|---|---|---|
| 1 April 2024Net movement in | 31 March 2025 | |||
| funds | ||||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 12,914 | 3,338 | 16,252 | |
| 1 | April 2023Net movement in | 31 March 2024 | ||
| funds | ||||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| Genera!fund | 14,727 | (1,813) | 12,914 |
- 6 Taxation
Tne charity is exempt from tax on ircome and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationcf Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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CROMWELL PROPERTIES CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
| 7 | Creditors: amountsfalling due within one year | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Accruals and deferred income | 1,665 | 1,665 | |
| 8 | Analysis of net assets between funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Fund balances at 31 March 2025 are represented by: | |||
| Current assets | 16,252 | 12,914 | |
| 16,252 | 12,914 |
9 Related party transactions
Transactions with related parties During the year there were no transactions with related parties.
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