Conjpllny RegistratlDn Iyo. SC018266 THE COCHIL&NE FOEFNDATION ( A. Compan J limited by Guarantee ) (Charlty Number SC014124) DIREcfoRSI REPORT AND FINANCIAL STATEIWIEiYrs FOR THE YEAR ENDED 31 DECEMBER 2025
THE COCHRANE FOUNDATION ( A Companv limited by Guarantee ) CONTEl+4TS PAGE Le¥al and Adininis'tratiye Infonnation R¢port of the Dirttetors Report of ihe Independenc Exaininer Statement of Finaneial Activities Balance Shect Noles tr) the Financial Staternents 8-12
THE COCHIL4NE FOUNDATION ( A Company limited b) Guar4ntee ) LEGAL AND ADMINISTRATIVE INFORMATION Company Registratioii Number. S¢018266 Charity Number SCQ14124 Registered Address S Croftshaw Road Alva Clackmannanshire FK12 SES Direcwi's: M P G Dunsmore C B C Cochranc J A Bain (resigned 0410612025) Dr L J Dawson R L S Cochraiie Stcretary.. Mrs E Le¢kie Bank of Scotland ILlV¢Stment Manasets: Rathbone Investinent Management L Edinburgh llldependent Examiner., BK Plus 20 Bamton Street Stirling FK8 INE Solicitors T C Young Gl&s8OW Pag¢ I
THE COCHRANE FOUNDATION ( A Companv limited by Guarantee ) REPORT OFTHE DIRECTORS The Directors presenl their annual report and financial statements for the year ended 31 Deceinbcr 2025. Thc financial statrin¢nts comply with th¢ Ch4ri¢ies and Trustee Investinent (Scotland) Act 2005, the Charities Ac£ounts Iseotland) Regulations 2006 (as amended), th¢ Companies Act ?006. the Memorandum & Articles of Association, and Arrounting and Reporting by Chartti¢s: Statement. of Recommended Practice applicable to Chariiies preparing their annuaL accounts iii accordance witli the Finwicial licporting Standard t-or Smaller Entitics appltcable in the United Kingdom and Republic of Ireland (FRS 102). The compari5' ts a charity and. its principal acrivir>' is the provision ot- suppon and relief io s.el¢cted persons resident In the Burgh of Alva bv 'wa2' of cthntributions and housing accommodation. Review of the Year The Foundation ¢xperien¢ed a reduction in iiicome froin investments ot over. £1 I,000 compared to the previous year, i¥liich ivas offset to An extetic by an uplift in renlal income of .£6.000. D]ng the year. the Foundation provided outings for the elderly over the sumin¢r rnonths, and hosted light lullrh¢s and 'sing-along5 in our Social Centre in Aucumn and Winter. We again provided speeial relief to f2rnilies in need at Christsnas. managing lo support 89 families with 167 children ¥viili financial gifts totalling £13,900. Regrettablv tlie llim disburs per FaEnily had to be reduced coinpared io the figure of £2? (100 in 2024, due to the reduotioii in investment income experi¢nced in.thc )¢ar. 'There lliere 166 elderly persons on our Roll of Beneficiaries as.at 31 December 2025 who received a small financial payment at Christmas. This was a reduction from 179 the previous Wc again provided regularfinancial donations during.the yw to Alva Parish Church to help their food larder activity supporting tliose irn need iii the communits,. The Foundaiion also maintained its support to Ochil yOh Community Improvem¢nts ii.'irh a donation tO,ardS its work helping )'oung vulnerable. )iouihs to feel safe through th¢ delii'cry of a fun, food and friendship programme As Lenancies become vant. the Foundation continueg to address the.refurbishment ol ils housing stock. Awoidingly.. a further property was upgraded at a cost of £25,000 during Future Stratsgy 'The Company plllns to continue actiVIt.ieÈ in the same w&y as outlined above in the forthcoming years subject to availabl¢ income. The Direclors havt agreed to cotnmerice a door replacementprograrnme in our housing estate in 2026. FinRDcial Results.for the Ytar Th¢re was a net incoming resource in the year amounting to £7,905. Aficr accounting for investment activities, both (ralised gains from sales of inveitments and unrealised loss¢s on investtnent revaluation. there ivtts a net increase in funds of £l22,992 which is attribui8ble to UnStricted fvnd rc&erve3. Page 2
THE COCHRAPIE FOtryDATION { A Company limited by Guaranlee ) REPORT OF THE DJRECTORS (Continued) Reserves.Poli¢y The directors Consider that the chanty has adequate res¢rves'to.concinue thc Gurrent artivititrs and to cover unplanned emergenc>. property repairs and other.charitable ¢xpenditurc. Investment PDIicy The directors have Considered the most appropriate policy for investing.fiinds and, with the 8SSiStance of professional expertise, are ofthe opiniottthat tlie charity's inv¥stment portfolio objectives meet the balanced requiremenig of generating both income and capital growlh. Risk Rth'iew The directors have conducted their oivn revieiv of thc major risks to which tlie charit), is exposed and systems have been establishcd to mitigate'those risks. There are considered to be no Significant external risks to funding. Intemal risks are minimi5ed by the implementation of procedures for authorisation of all transactrons and projects supported. These procedures are periodically reviewed to engiire that they still meet the need5 of the c.harity. Iwlethod of appointment of Directors DAtorS are appointcd bv ordinaiy resolution a1 the Annual General M¢eting. The Directors in offi¢e during thc.year and since the )'ear"end are:. M P G Diinsmore {Chaimi8TL} C B C Cochrane J A Bain (resi8ned 0410612025) Dr L J Dawson R L S Cochrane Statement of Director5 Respollsibilitits Compaiiy law rcquires the"Dire¢tors to prepa financ statements for each financial year which give a twe and fair ot the statc of the affairs of the charitable compan). as at the balance shee¢ date and of its incoming resources and application of resources irLcluding in¢ome and expenditure: for the financial >ear. In preparing those financial statements, the DIre¢tor& Éhould follow beEt p.rAetice ond.. select suitabl¢ accounting poliGL¢S and then apply them ¢onsist¢ntly? observe th¢ Methods and principlex in.the CharÉties SORP. Inake judgcm¢nts and estimates thai ar¢ reasonabl¢ and prudent; 5tatc wh¢ther applicable UK Accounting Standards have been followed, subject to any material departures dis¢losed and explained in the financial statemenlg prepare thc 5tatemciits on a going ¢onc¢m basis unle5& it is in4)propriats t4) presuitte tliat the Company Nvill continuc in business. The Directors are responsible for mainta.ining propcr accounting records which dÉsc105e with reasonable accvracy at &ny timethe fin&ncial position of the.charitable company and to enable thcrn to eDsur¢ the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for taking reasonable Steps for the prevention and detection of fraud and other irretsularities. Page 3
THE COCHRANE FOUNDATION ( A Company limited by Guarantee ) REPORT OF T4 DIRECTORS (Continued) This rert has been prepared in 2cwrdance with the Statement of Recommcnd¢d Practice- Accounting and Reporting by Ch'arkties and in accordance Nvith'the small company's.regime of the Companies Act 20.06. BYORDER OF THE BOARD Mrs E Leckie Secretary 19 Ma), 2026 Page 4
THE COCHRANE FOUNDATION ( A Company limited by Guarantee ) tNDEPETr4DENT EXAMINER'S REPORT I r¢port on the accounts of the chalily for the pert<)d ended 31 December ?025 ,hICh are set out on pages 5 10 1.1. Respective responsibilities of Trustees and examiner The charity'5 Trustees (who are also the directors ol thc Company for the purEx)ses of .Company Law) are responsible for tlie pirparation of the.accounts in accordahce with tli¢ tern of the Charities and Tru5te¢ Inv¢stinent (Scotland) Act 2005 and the ch.lIeS ALcounts (Scotland) Regulations 2006. The charity Trust¢es ronsider that the.audit .requir¢ment of Regulation 10(1) (d) of the Accounts Reuulations does not apply. It is my responsibilitv to examine the financial statemenls as. required under scction 44(1) (c) of the Act and to stale whether particular malters have come to my attention. Basi5 ofindepelldént examiner's statement My examination is carrie.d out in accordance with Rcgulation I l of the Charities Accounts (Scotland) Regulalioiis 2006. An examination includ¢s a review of tlie accounting r¢eords kept by the charity and a comparison of the finanLial statements prtsented in thostt record5. It also includes oonsideration of any unusual itetns or disclosures in ihe finaneial statements and seeks explanations from the trustees concerninD any. such matters. The procedures undertaken do not provide all the evidence that would bc requir¢d in an audit And, consequently I do llo¢ ¢xpress an audit opinion on thE financial statemenis. Independent èxaminer's staternenÉ In the course of my exainination, no matter has cometo my attention which gives me reasonable c&us¢ to believe that in any material respect the requityments". to keep'.a¢¢ouriting TWQLd5 in accL)rdan¢e'with" Section 44{1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations and to prepare financial st&t¢inents which acwrd with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations hAViJ not been Lllot. or 2. to which, in iny. opinion: altention should b¢ drawn in order to enable a proper understwtding of the financial statemenls to be reach¢d. I do not, in'giving this tEPOrt acc¢pt or assume responsibilily for Y Dther puip()se or to any oth¢r pcrson to whom this. report is shown or tn whose Iiands it may come: save where expressly a'greed by mv prior consent in. writing. Robert Taylor CA BKPIUS 20 Barnton Street stirling FK8 l£yÉ 19 May 2026
THE COCHIL4NE FOUNDATION ( A Companv limited by GuarAntee ) .STATEMEI¥4T OF FINANCIAL ACTIVITIES (including Incotne & Expenditure Ac£ount) FOR THE YEAR ENDED 31 DECEMBER 2025 2025 In¢omlThg Resourees- Unrestrleled Funds Investtnent income 54.869 Property incorne 100.697 94.544 Other incom2- Insurance Claim Total incoming r¢50urces ?23.6•9 160.691 Resources Expended 'Relief and Maintenance of BeneFILiaries JO.402 Property & Ground Costs 118,169 Administr2tion Expenses 66.213 Community Projects 4,700 5,520 Total resources expended 215.724 160,396 NÈt incoming resources lllvestmellt Adivities Gain/(Loss) on Sale of Investments 7.905 295 315,036 {87,346} GainllLossl on REv8luffttion.Df Investmentg (l99.949) 100.26J Net. movement in funds 122,992 Tolal funds at l JAnuRry 2025 3.047,238 3,034,026 Total funds at 31 December 2025 3.170,230 3.047.238 The accountino policies and atlach¢d notes form part of these"finaneial statements.
THE COCHRANE FOUNDATION ( A Company limited by Guarantee } BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Note Tangible Fixed Assets 1,309,564 1,279,508 Investments 1,836,608 1,744.412 Current Assets Debtors Bank Balances 2,121 32.052 2,028 26,577 34.173 28,605 Creditors falling due within one year 10 (10,115) (5,287) N¢t Current Assets 24.058 23,318 Total Assets 3.170,230 3,047.238 Represented by Unrestricted Funds General fund5 3,170,230 3,047,238 For the year ending 31 December 2025 the company wa5 entitled to exemption from audit under S¢ction 477 of the Companies Aet 2006 relating to small charitable Companies. Dirertor5' ruponsibllities.. the members have not required the cornpany to obtalD an audit of its accounts for ihe year in accordance with Section 476. the directors acknowledge their r¢Snsibl]it1eS for complying with the requirements of the Act in respect to accounting records and ihe preparation of accounts in compliance with Section 386 of the Act these aOuntS have been delivered in accordance with the provisions applicable to compani¢s subject to the small companies, regime of the Companies Aci 2006 The financial statements We approved by the Board of Directors on 19 May 2026 and were signed on its behalf by:_ M P G Dunsmo C B C Cochrane........... .Dirccior Page 7
THE COCMRAIYE FOUNDATION ( A Companv limited by Gu2r2hiee ) NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 l. Actollntlng Policies Basis Df preparation and assessment of going ¢on¢ern The financ.ial statements have been prepared under the histL)Lical cost coni'eiilion with ikins recolSed. at cost or transaction value Linless otherwise stated in the relevant notes to Ihe5e arcounts. Th¢ financial statements have been prepared in acoordance with the Siatemernt of Recommended Practice: Accouniirig and Reporting b}, Charities preparing their accounts in ordance with the Financial Reporting Standard applicable in the UK and RepLLblic of Ireland (FRS 102) issued on 16 Jul> ?Ql 4 and Financial Reporting Standard appli¢abl¢ in the United Klligdom and Republi¢ of Ireland IFRS 102) and The Charities Accounts (ScotlELnd) Regulations 2006. The charity meets the definition of a publi¢ benefit enÉit>' uriderFRS 102. The trustees consider that th¢rc .e no niaterial vnoertaiiitie5 abolit the Charity's ability to continue a5 a going concern. Fund aceounÉing General funds aye unrestricted funds i¥,hich are available lor Llse at the discretion nf fhe Trustees in rth¢rance of the general objectives. of the ohatrily and which have noL bccn designated for other purposes. Intoming resources Income fiom investments and property rents are included Nvhen thei, are re1Vable. Expendllur¢ Expenditure is TognIsed once there is a legal or CoStruCtI11C obligation to traiisfer eoonomic benefjt to a third party. Regourees expertdèd include VAT which cannc)t be recovered. Tangible fixed asset5 Depreciation is calculated so &sto iTrrite off the c()st ogtangible fixed assets less th¢ eslirnat rcsidual value over the expected us¢ful economic lives of the assets conccrned. Th¢ principal inual ra*S used for this purwse arc: Fixture and Fittings c.omputer EquiprrLeFJt 20•/o Straight Line The directors are 0¢ the opinion that at present iio dcprcciation charge should be made on Heritabl¢ Propcrties. in view of th¢ Foundotion's poli¢y to adequately maintain their properties. thereby ensuring that no phvsieal d¢t¢rioration o¢curs.
THE COCHRANE FOUNDATION ( A Company limited by Guarantse ) NOTES TO THE FINANCIAL STATEMENTS (ContinuEd) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policie5 (continued) Directors, remuneratioll In accordance with tli¢ Articles ot"Asso¥iAtion no emolbments We paid io the Directors. Jnvestment5 lllvesÉments are held as fix¢d assets and arc revalued atrnid-markel value at the balance sheet date and the gain or loss tskell (o the Stateinent of Finaririal Activiti¢s. Rellef and Maintenance of Beneficiaries 202) 2024 Chri5tsna5 Gifts Outings and Functions Special Case Relief 3.390 4,094 I4.04L 4.130 21.5?5 30.402 2024 The Cochranes, Alva Wages, NI Rnd Pension H¢ating and Lighting Repair5 and Maintenance Refurbish(n¢nt Costs due to Fire Damag¢ Garden Upkeep and Tools Insui'ances tigeellsneous DepreLiation Equipment ti Non Dom¢stic Rates 3,494 3,523 68.177 4.54) 9.059 3,969 8.478 2.068 337 907 297 906 118.169 Page 9
THE COCHRANE FOUNDATION { A Cgmpany limited by Guarantse ) NOTES TO THE FINANCIAL STATEMENTS {Contlnued) FOR THE YEARENDED 31 DECEMBER 2025 2025 2024 Administration Expense5 Sa12ries. Nl And Pension 43.619 2.4QO 9.018 Accoutktant's F¢¢. lttvestment Services Legal &.Professiohal Fets Heating, Lighting and Cleaning Mis¢ellancous Depreciatton Equipmenr eic Repairs and Renewals Telephon¢ Compui¢r support & servi¢e ch&'ge Profcssional Subscriptions Non Dornestic Rafrs- OITiee & Social Centre Other 821 965 458 761 488 3.378 1,012 1.068 609 196 378 2.580 184 376 71.330 Stsff costs and numbers Staff costs were as follow5 202) 2024 Wag¢s & Salarie5 53.411 53,411 Th¢ averagc number of employees diiring the y6ar. is 3'(2024- 3). Pa£e 10
THE COCKRANE FOUNDATION ( A Company limit¢d by Guarantee ) NOTES TO TIIE FINANCIAL STATEMEyfs (Conlittlled) FOR THE YEI AR ENDED 31 DECEMBER 2025 Tayatton The charitable company is exempt from corporarion taK on its incoine and gains falling within Section 505 ot the Income Taxes Act 1988 or Stction 252 of the Taxation of Chargeable Gpins Acl 1997 to the cxtcnl that these are applied to it s cliaritable objectives. Tangible Fixed Assets Heritable Property Plant& Equipm¢nt Cost At l January 2025 Additions l.3 l2.454 30,811 1.382,81,8 30,811 At 31 Dec¢inber 2025 1,343265 70,364 1.413.6?9 Aggregate Depreciation At l JanIry 2025 Charge for tb¢ y¢&r 103.310 755 755 At 31 December 2025 104,06) Net Book Value At 31 December 2025 1,305,691 3.873 1,309.564 Net Book Value At 31 D¢c¢mber 2024 l274,880 4,628 1,27.9 508 IllYe8lments 202) arket Value at 31 December 2025 I.836.608 1.744,412 Historical Cost of Jnvestments at 31 Deceinber 2025 1,445.468 1.152.178 Page 11
COCHRANE FOUNDATION ( A Company limited bv Guarantee ) NOTES TO THE Vlt¢4ANCJAL STATEMENTS (ContKnued) FOR THE YEAR ENDED 31 DECEMBER 2025 Debtors 2025 2024 Debtors and prepaid char.ges 2.028 10. Creditors falling due within one year 2025 Other creditors ad accruals 5.287 11. Legal Status of the Comp*nY The Coehrnne FoundatiL)ki is a coinpanj limited by guarantee and has iio share capital. The liability of eaeh direoÈor. a5 a Member. in the event of wiiiding up is limited to £1", 12. Rèlated Party Transactions During the y¢ar pajments totalling£O (2024- £723J) Iver¢ it)ade to Mr R Coclirane in respect of electrical work carried out. Mr R Cochr&n¢ was appointed director oii"th¢ 20 June2024. Page 12