Charity registration number SC018130 (Scotland)
THE DOUGLAS FOUNDATION
(KNOWN AS THE ROBERT DOUGLAS FOUNDATION) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number (Scotland) SC018130
Principal address
Auditor MMG Archbold Limited 4 Albert Place PERTH PH2 8JE Bankers The Royal Bank of Scotland plc Perth Chief Office 12 Dunkeld Road PERTH PH1 5RB Solicitors Lindsays LLP Solicitors and Estate Agents 10 Blackfriars Street PERTH PH1 5NS Investment advisors Barclays Wealth 12 Melville Crescent EDINBURGH EH3 7LU
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 6 |
| Statement of Trustees' responsibilities | 7 |
| Independent auditor's report | 8 - 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 - 28 |
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their report and accounts for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)".
Objectives and activities
The Foundation has as its general policy and objectives:-
(a) - To provide assistance to residents in Scone or the immediate vicinity with power to the Trustees to substitute new purposes as they, in their sole discretion, deem advisable.
(b) - To promote and carry out such other charitable, educational and benevolent purposes in Scone as the Trustees deem best.
In pursuance of these general objectives, the Robert Douglas Memorial Institute maintains and hires out at low cost, function halls for the community of Scone. The Robert Douglas Memorial Home provides care for the elderly residents of Scone and the surrounding area through residential accommodation.
Strategies for achieving aims and objectives
The Foundation Trustees have set up individual Management Committees to oversee the day to day running and administration of both The Institute and The Home. The Management Committees meet regularly and report monthly to the Foundation Trustees in addition to providing quarterly Governance Reports. The Home employs a full-time Manager and staff to deliver the care to the elderly residents. As and when required, outside consultants have been employed to ensure that all appropriate practices and procedures are in place. The Home is regularly inspected by the Care Inspectorate. Monthly management accounts are prepared by the Home so as to ensure good oversight of the financial performance of the Home is maintained at all times. The Home also employs the services of MMG Chartered Accountants to audit the annual accounts. By employing professional staff and providing close supervision and monitoring of the Home’s performance, the aim is to support the Home to deliver an excellent standard of care to its elderly residents, most of whom come from the local vicinity. The Institute’s Management Committee likewise meets regularly and reports regularly with monthly Management Accounts produced. The Institute’s Management Committee sees to the day to day running and administration of the Halls and works closely with local residents and various local organisations to make the Halls available for use by the local community. The various Committee members and local volunteers work tirelessly in support of the Institute to ensure it is available to the local community.
Criteria to assess success
Regular quarterly Governance Reports are provided both by the Home and the Institute both to their individual Management Committees and to the Foundation Trustees. These quarterly Governance Reports and regular reports of the monthly meetings are carefully scrutinised to ensure that, in particular the service delivery at the Home remains in accordance with best practice. The Home continues to run at full or nearly full occupancy and that has enabled it to remain financially viable and to deliver an excellent level of care to the elderly residents, that being the primary objective for the Home. The Home’s Manager is employed on a full-time basis and maintains an appropriate staffing level to ensure the delivery of an acceptable level of care. The Home is subject to regular inspections by the Care Inspectorate whose reports are carefully considered. The Home continues to strive to improve its performance at all times, both in relation to the service delivery and its financial performance. The Home’s Management Committee oversees continued investment in the Home’s buildings and fabric and importantly, continues to work with the Home's Manager to ensure suitable training and ongoing monitoring of staff performance. The Institute's Management Committee has continued to invest in various improvements to the fabric of the building. There has been some success with fundraising from various other Charities to help support the Institute. The Institute itself remains in a stable financial position with unrestricted funds of £41,405 at 31 December 2024 (2023 - £25,154). The financial performance will continue to be carefully monitored to ensure that the Institute remains financially viable and thus can continue to make itself available to the local community.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance Throughout the year the Foundation Trustees continued to support charitable and social in5tilution5 Within the community of Scone and ils immediate vicinity. The principal activilEs involved the operation of the Robert Douglas Memorial Institute and of the Robert Douglas Memorial Home. Robert Douglas Memorlal Instllute With the a55istsnce of the Foundation Trustee5, the Management Committee continued the rolling progrqmme of general refurbishment of the structure and fabric of the building. The Management Committee ccntinued close oversight of the Inslilute's operations and income streams. Robert Douglas Memorlal Home 2024 showed a nel 5urplu5 Qf £24,98412023 £8,354) against a budg•tod $urplu$ of £1 S,83912023 - dofi¢it of £1,098). A Care Inswctorale inspaclion was carried out in April 2024. It had specific focus on "How w811 do&s RDMH support Pp1a,5 w•llb•ing' and 'How gts)d is RDMH l•ad•rship'. Th• Hom• r•caiv•d th• high•st ratings pos$iblo. RDMH wa$ highlighl¢d a$ th¢ lop ear¢ homo in Scotland in the Sunday Tim¢$ Car¢ Hom& L¢agLt¢ Table, published in the edition of S8plemb8r 29th 2024. This is an oulslanding credit lo all of th8 managomenl and staff 18am. Thè m•nag•r maintainèd closè and rogular ntact wf(h local authority ond h•olth advisory bodias, and caro home 8e¢tor ¢olleagu¢$ throughout yoar. Clos0 attonlion Mnlinuos to be vid to dialogu• with msidonts, familios and staff. Th• occupancy of th• hom• r•main•d clos• lo maximum throughout 2024. A signfficant activiti•s programm• provid•d r88id•nt involvemant, int•rnal 8nt•rtAinm•nt. and •xt8mal •xcursion$ throughout the year. R¢furbi$hm•nl continued throughout th• yèar. Nw senry oquipm•nl wa$ in$lall¢d in th• ro$id•nts' communal ar•a. A numb¢r of bodroom$ w•r• refurbish a$ rèquir. Now gtlff and vi$ilor toilol faciliti•$ w•r• in$lall•d. The managom•nt & staff continu8 to focus on providing outstanding support for the w8llb•ing of all residents, Whi mèeting risks of maintaining high occupancy and rètaining quality staff through quality rècruitmènt, and the provision of training & dovelopment. A programme of ¢onlinuou$ improvement 1$ in pl•¢e lo maintsin RDMH'$ •x¢•llent gmdos. Flnanclal revlew Tho Financial Stalomonls roprosent tho consolidatod position of the Douglas Foundation, the Robert Dougla5 Momorial Homo and the Robert Douglas Momorial InstitLrt8. Results for the year endod 31 December 2024 are given in the Slalemenl of Fin•n¢i•l Actiwties. The assets and liabilities are detailed on the Balance Sheet on pthge 12. The Slalemenl of Financial Activities shows a nel inflow of fund5 for the year of £151,45112023- £12,573>. This, added lo the funds brought forward of £1.758,971 gives a surplus lo carry fopward of £1,910.422. The closing roserves aro mado up of rastrictgd reservgs of £10,25012023- £18,675} and unrostricted reservos of £1,900,172 {2023- £1,740,296}. Full dètails of income and èxwnditure arè sat out in thè notes to tha accounts.
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The funds of the Foundation originate from original and subsequent capital donations together with growth in value of the investments, and periodic accrual of revenue. The Trustees, in practice, have not encroached upon capital by making charitable donations.
The Robert Douglas Memorial Home holds adequate cash deposits which are held partly to assist the management of cash flow within the home's operations, and partly to fund a general programme of upgrading and refurbishment of the home and future capital projects.
The Robert Douglas Memorial Institute holds sufficient funds to meet its charitable objectives.
Reserves policy
The Douglas Foundation adopts a policy of retaining reserves to protect it against any future decline in income generated or funds held which could prevent it from delivering services and fulfilling its objectives and activities in the future.
The Trustees review the level of reserves designated for future operation costs and capital projects by considering risks associated with income streams, expenditure plans and other balance sheet items.
The trustees aim to hold reserves for future operating costs equating to at least 3 months operating costs. This sum amounts to £223,699.
The charity holds reserves of £1,910,172 of which £1,900,172 is unrestricted therefore the charity has sufficient reserves to cover 3 months of operating costs.
Investment policy
The Foundation's portfolio is managed on a discretionary managed basis with a moderate risk profile by our investment advisors, Barclays Wealth. Our investment advisors are instructed to invest with the primary objective of wealth preservation in order to protect our investments from the effect of inflation and maintain their purchasing power. The portfolio is invested through the Barclays Charity Fund which invests in a diversified portfolio of assets. An annual suitability review takes place with Barclays Wealth to assess whether there have been any changes in circumstances that could affect the suitability of the investments held.
The investment portfolio annual return for 2024 was 6.97% (2023 - 9.03%). This compares with a blended benchmark return of 10.38% for the same period. The value of investments decreased from £132,121 to £126,947 in the year. The value of investments has reduced due to transfers out during the year.
Principal risks
The Trustees have assessed the major risks to which the charity is exposed and, in particular, those related to the operations and finances of the Foundation. They are satisfied that systems are in place to mitigate exposure to the major risks.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The principal risks facing the Home continue lo be the health, safety and weware of the residents. Currendy there appears to b8 a good18vol of demand and the Hom8 has ènjoyed an occupancy rat8 at or noar full capaaty. damand was to fall than that would be a major challènge to tha Homè. Tha Hom& strivès to continuo to provido an axcallènt lèvel of sarvica and cara to its rasidènts from thè local vianty and in that way hopèfully ansuring that the demand for room5 will remain stgady. The Tru51oes arg aware that Ihgre has, for sixne tim? now, been a move lo support the elderly in their homes for longer. The practical impocl of that is likely lo be new residents coming in perhaps being more elderly and frailer than in the past with greater and more complex needs. This means that the Trustees continue to focus on improving the service delivery and training of staff. It is necessary to continue to invest in the fabric of building to 8nsur• that tha pr•mis•s thams•lv•s provid• a suitabl8 and safè 8nvironm8nt for carè of the 8ldorfy. Th• Insti(ut¢ 1$ on a $1gady fooling with regards to income from hall ronla15 and booking$. Th•r¢ arè 3 other hall$ within Scone that provide compelilKJn for th8 Inslituts. however the Inslrtule'5 Ha11 charges are favouroble to th8 Other halls in the villa. The location. on a bus roule and with onsite car parking makes il a popular community venue. Th8 building continu8s lo need inv8slm8nl lo maintain ils fabric and suitability for providing rts servaS. The Instr(ut•'s Managament Committ8•, in particular, continuès to fvndraise and s8èk out new sourc8s of incomè, including by way of grant applications and donations from othèr foundations. Th8 Institutè has continuèd lo se• booking$ ris•, both on¢ off and rogular bookings. Tho Instilul• striv¢$ to •nsur• that oa¢h y•4r its incomo exceod5 119 expenditure. Factors affectlng future flnanclal posltlon Thè burdèn of gas controcts, onc• G0mm0nt subsidies olapwd, have Managed well al the Inslilule. Bul fa¢¢ ongoing challengos lo m¢¢1 the energy ¢ffi¢ien¢y stsndard$ outlinod by S¢ottish Govemmonl. Tho halls aro ing w•ll usod with 18 mgular groups using th¢ hall$ and many on¢-off booking$ Factors aff8Cting the Homo going forward will bo tho continuing ability lo achiove a salisfaclory occupancy rale and tho •mploym•nt of suitabla staff and car•rs to provide an 8xcèll8nt 18v•l of car8 to the eldarly. K•y to th succéssful day to day running of thè Homè is thè Hom8's Managèr. Rècruitmènt and rètèntion of suitably qualrfied $laff remain$ a ¢hall¢nge a¢ros$ the so¢lor. The ¢o$l$ ¢$s•r11Y incurred in administering a Home for th¢ old•dy romain high and thoro remain$ a neod to en$uro the financial viability of th¢ Hom• lo g•n¢ralo $uffi¢i¢nl $urplu$¢$ to ¢onlinu¢ to inv¢st btsth in tho Homè itself and rt$ staff. Curr¢nlly the Homè ha$ sufficient cash reserves lo ensure Ils ongoing ability lo deliver the service. A significant drop in the occupancy rale for whatevor r•ason woukl pose a signthcant challong8 to the ongoing viability of tha Homo. The Found•l*)n'$ Tru$lee$ will continue Ih•ir current aetivitse$, ensuring adequat• govom•n¢o of the Robert Douglas Inslrtute and Robert Douglas Memorial Homè. structure, governance and management Tho charity is governed by a Deod ol Trust by Douglas Foundation, on the othor part, dated 1 st S8ssion on 10th August all in 1938. and other5, on tho ono part, and tho rggisterod in tho Books of Council and The Tru31ees who served during the year and up to the date of signature of the financial 31alemen15 were.. Trustee5 are a55umed by existing Tru51ees taking account gf the 5Urtability of any new Trustee given the principals encompassed in the founding documents and the background and skills of any Trustee relative to the existing Trustees, skill base. Trust88 induction includes information about the charity. such as the govorning documont, an organisational chart, recent annual raports and auditèd accounts.
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Dougl05 Foundation is a Scottish Charity, Registered Number SC018130. The charity operates the community hall facility al the Robert Douglas Memorial Institute, Abbey Road, Scone, and the residential care home, the Robert Douglas Memorial Home. The separate Financial Statements ol the Robert Douglas Memorial Home and tha Robart Douglas Mèmorial Institute hav8 baan consolidatèd. The FoUrallon Trustees meet twice a year, or more frequenly rf required. lo consider all m4tters of trust business, including any donation programme, the govemance of the Robert Douglas Memorial Home and of the Robert Douglas Memorial InslilLrte, and any other routine administrative matters. In addition, Trustees are circulat8d rUlarlY with governance and financial p8rlormanc• r8p¢Jrts on behalf of both the Hom8 and th8 Institute and at ony other timè wharè appropriate for dècision or for inlormation. The trusys chairman and sècratsrias communicata on a règular basis throughout thè yèar on all aspècts of trust Administrati)n. Key management personnel remuneratlon Th8 Trustees consider tha board of TrustwJ, tho manag8m8nl Committe of the Hom8 and Instf(ut• and tha Home managèr as comprising tha kay mana9èmant r$on81 of thè charity in chargè of diracting and controlling th• charty and running and operating the ¢harily on a day to day ba$i$. All Tw$to0$ give Ih¢ir lim¢ fr¢¢ly and no Tru$t¢e romun¢ralion w•$ paid in the year. Tho managemonl committ•es of the Home and Institute also mad• up of unpaKI volunl•or$. Tho pay of the charity's key management porsonn81. wh&r8 appropriato, is considered annually and pay awards are agraed by th• Board of Trustèas ensuring that rèmuneration Set is fair and not out of lina with that g8n8rally paid for $imilar rolas. Robert Douglas Memorlal Home Tho manag•mont of tho Robert Douglas Momcfflal Home is carriod out by a Committee of Managomont whos0 embpr8 diirin The Committee ol Management meets every tsvo months lo review the affairs ol the Home. During 2024 there was a Manager who 13 in charge of the day lo day admini51ralion and who has ovorall r•$pon$ibility for th• Homo. Tho Manager roports roulinoly lo tho committ•e of managomonl. Thè eommittee of managèmènt $ubmil {al le•$tl qwrterly govemance reports to the So¢retsries for cir¢ul•lion •mong$l the Foundation ITu$lee$. Robert Douglas Memorlal Instttute Tho gonoral managomont and administratKJn of tho Robgrt Douglas Momorial Institut8 is carried out by Managèmènt Committèè consisting during thè yoar of'.-
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Tho Management Committee meets monthly lo review the affairs of the Instrtute. In addition, Foundation's TUStS will from tima to timè attend at meetings to liais& with mamr$ of tha Managèmènt Committaa and to giv8 gonèral guidancè upon tha conduct of tha Institutè administration. Audltor MMG Archbold Limited were appointed a5 audTtor and a resdulion proposing that they be re-appointed will bg put al a General Meeting. Dlsclosure ol Infom)atlon to audltor Each of the Trust888 has confirméd that there is no infomiation ol which they ar8 aware which is rel8vant lo th8 audit. but of which th8 auditor is unawar8. They hav• furthèr confirm8d that they hav8 taken appropriat8 Stèps to id8ntty such r81ov•nt information and to èstablish that th8 auditor is awarè of such infom)ation. Tho TN$l¢¢$' roport was approv by the Board of Tru$lo¢S. IU5t8 Dated..
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and 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 give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity 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 the 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 and 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 charity 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 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE DOUGLAS FOUNDATION
Opinion
We have audited the financial statements of The Douglas Foundation (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charity’s affairs as at 31 December 2024 and of its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE DOUGLAS FOUNDATION
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which the Charities and Trustees Investment (Scotland) Act 2005 and Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or
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proper accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Statement of Trustees' Responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE DOUGLAS FOUNDATION
The charity is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charity and its environment, we identified that the principal risks of non-compliance with laws and regulations related to: health and safety; GDPR; employment law; and compliance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts Regulations 2006. We considered the extent to which these laws and regulations might have a material effect on the financial statements. Audit procedures performed by the engagement team included:
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discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations, including fraud;
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enquiring of management as to actual and potential litigation and claims;
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review of legal fee expenditure;
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identifying and assessing the design effectiveness of controls that management has in place to prevent and
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detect fraud and non-compliance with laws and regulations;
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challenging assumptions and judgements made by management with regard to the significant accounting estimates identified;
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performing analytical procedures to identify any unusual or unexpected relationships, investigating the rationale behind significant or unusual transactions and agreeing financial statement disclosures to underlying supporting documentation; and
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auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the charity’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of MMG Archbold Limited, Statutory Auditor Chartered Accountants 4 Albert Place PERTH PH2 8JE Date: .........................29/09/25
MMG Archbold Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income and endowments from: Donations and legacies 3 2,278 2,715 Charitable activities 4 868,943 - Other trading activities 5 - - Investments 6 59,452 - Other income 7 6,395 - Total income 937,068 2,715 Expenditure on: Raising funds 8 13,943 - Charitable activities 9 880,854 11,140 Total expenditure 894,797 11,140 Net gains/(losses) on investments 14 117,605 - Net income/(expenditure) and movement in funds 159,876 (8,425) Reconciliation of funds: Fund balances at 1 January 2024 1,740,296 18,675 Fund balances at 31 December 2024 1,900,172 10,250 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 4,993 13,170 16,659 868,943 792,814 - - - 551 59,452 48,380 - 6,395 6,773 - 939,783 861,137 17,210 13,943 17,012 - 891,994 846,605 10,332 905,937 863,617 10,332 117,605 8,175 - 151,451 5,695 6,878 1,758,971 1,734,601 11,797 1,910,422 1,740,296 18,675 |
Total 2023 £ 29,829 792,814 551 48,380 6,773 |
|---|---|---|
| 878,347 | ||
| 17,012 856,937 |
||
| 873,949 | ||
| 8,175 | ||
| 12,573 1,746,398 |
||
| 1,758,971 |
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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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Fixed assets Tangible assets 16 Investment property 17 Investments 18 Current assets Debtors 19 Cash at bank and in hand Creditors: amounts falling due within one year 20 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 21 Net assets The funds of the charity Restricted income funds 23 Unrestricted funds |
2024 £ £ 498,837 965,000 126,947 1,590,784 62,539 410,896 473,435 (73,406) 400,029 1,990,813 (80,391) 1,910,422 10,250 1,900,172 1,910,422 |
2023 £ £ 512,188 835,000 132,121 1,479,309 61,675 382,815 444,490 (84,437) 360,053 1,839,362 (80,391) 1,758,971 18,675 1,740,296 1,758,971 |
|---|---|---|
The financial statements were approved by the Trustees on .........................24/09/25
Trustee
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Cash flows from operating activities Cash absorbed by operations 26 Investing activities Purchase of tangible fixed assets Purchase of investment property Proceeds from disposal of other investments Investment income received Net cash generated from investing activities Net cash generated from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2024 £ (1,275) (17,716) 10,495 59,452 |
£ (22,875) 50,956 - 28,081 382,815 410,896 |
2023 £ (15,945) - 30,327 48,380 |
£ (18,295) 62,762 - 44,467 338,348 382,815 |
|---|---|---|---|---|
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
The Douglas Foundation is an unincorporated charity governed by its Deed of Trust. The principal address of the charity is C/o Lindsays LLP, 10 Blackfriars Street, PERTH, PH1 5NS.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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 charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention modified to include the revaluation of certain fixed assets. The principal accounting policies adopted are set out below.
The consolidated SOFA and balance sheet include the financial statements of The Douglas Foundation, The Nellie Gloag Welfare Fund, The Robert Douglas Memorial Home and The Robert Douglas Memorial Institute for the year to 31 December 2024. Intra-charity transactions are eliminated fully on consolidation.
1.2 Going concern
At the time of approving the financial statements, the Trustees consider that there are no material uncertainties around the Foundation's ability to continue as a going concern. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
1.4 Incoming resources
Income is recognised when the charity 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.
Cash donations are recognised on receipt. Other grants donations are recognised once the charity has been notified of them, unless performance conditions require deferral of the amount.
These financial statements for the year ended 31 December 2024 are the first financial statements of The Douglas Foundation prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2023. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
Charitable income from residents of the RDM Home is recognised as it becomes due for the period of their occupancy.
Hall rentals for the RDM Institute are recognised on receipt of monies.
Investment income from residents of the RDM Cottages is recognised as it becomes due for the period of their occupancy. Investment income in the form of dividends from listed investments is recognised when receivable.
1.5 Resources expended
All expenditure is accounted for on an accruals basis and is recognised when there is a legal obligation to pay for expenditure. Irrecoverable VAT is charged against the category of resources for which it was incurred.
The cost of managing investments is shown as raising funds. Any costs associated with the sale or purchase of investments are accounted for as part of the sale or purchase price of the investments.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include premises costs, property repairs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Nil Fixtures, fittings & equipment 20% per annum straight line
No depreciation is charged in respect of properties held because they are maintained in a state of repair, such that the estimated residual value of land and buildings at the balance sheet date is not less than their net book value.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the statement of financial activity.
Investment properties are included in the balance sheet at their open market value. No depreciation is charged on these properties in accordance with section 16 of FRS102.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.8 Fixed asset investments
Fixed asset investments are included in the balance sheet at fair value.
Gains and losses on disposal and revaluation of investments are charged or credited to the SOFA. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening fair value (purchase date if later). Unrealised gains and losses are calculated as the difference between the fair value at the year end and opening market value (or purchase date if later).
1.9 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.11 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument.
Financial assets are offset, with the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.12 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
Valuation of property
As set out in note 17 to the financial statements, investment properties are carried at fair value, determined in accordance with the Trustees’ valuation. In order to reduce estimation uncertainty and provide greater assurance over the reported figures, the Trustees periodically engage experienced external valuers to assess either all, or a representative portion, of the investment properties.
3 Donations and legacies
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 2,028 505 Grants 250 2,210 2,278 2,715 Grants receivable Perth & Kinross Council 250 - PKC Warm Welcome - 2,210 PKC Community Investment Fund - - PKC Cost of Living Community Fund - - Other Coronavirus grants - - 250 2,210 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 2,533 5,942 1,389 2,460 7,228 15,270 4,993 13,170 16,659 250 250 - 2,210 2,927 - - - 9,940 - - 5,330 - 4,051 - 2,460 7,228 15,270 |
Total 2023 £ 7,331 22,498 |
|---|---|---|
| 29,829 | ||
| 250 2,927 9,940 5,330 4,051 |
||
| 22,498 |
- 17 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4 Charitable activities
| Charitable activities | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Unrestricted | |||||
| funds | funds | |||||
| Residents' | Hall rental | Total | Residents' | Hall rental | Total | |
| fees | 2024 | fees | 2023 | |||
| 2024 | 2024 | 2023 | 2023 | |||
| £ | £ | £ | £ | £ | £ | |
| Residents' fees | 843,684 | - | 843,684 | 775,219 | - | 775,219 |
| Hall rental | - | 25,259 | 25,259 | - | 17,595 | 17,595 |
| 843,684 | 25,259 | 868,943 | 775,219 | 17,595 | 792,814 |
5 Income from other trading activities
| Restricted | Restricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising events | - | 551 | |
| 6 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Rental income | 45,819 | 38,146 | |
| Income from listed investments | 5,141 | 4,932 | |
| Interest receivable | 8,492 | 5,302 | |
| 59,452 | 48,380 |
7 Other incoming resources
| Unrestricted | Total | Unrestricted | |
|---|---|---|---|
| funds | funds | ||
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Other income | 6,395 | 6,395 | 6,773 |
- 18 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Property management fees and expenses | ||
| Other fundraising costs | 13,543 | 16,586 |
| Investment management | 400 | 426 |
| 13,943 | 17,012 |
- 19 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9 Charitable activities
| Residents' care Memorial Institute costs Foundation 2024 2024 2024 £ £ £ Staff costs 555,123 - - Depreciation and impairment 10,175 1,988 - Provisions 39,197 - - Entertainment 7,894 - - Subscriptions 8,015 - - Taxis 1,694 - - Cleaning supplies 9,142 - - Insurance 5,397 4,884 1,270 Secretaries' and treasurers' fees - - 8,150 Sundry expenses 2,112 112 40 Postage and stationery - 53 - Cleaning materials - 5,403 - PRS Licence - 205 - Telephone - 728 - Charitable activities c/f 638,749 13,373 9,460 |
Total 2024 Residents' care Memorial Institute costs Foundation 2023 2023 2023 £ £ £ £ 555,123 522,480 - - 12,163 10,474 1,644 - 39,197 34,030 - - 7,894 2,224 - - 8,015 8,446 - - 1,694 1,407 - - 9,142 9,827 - - 11,551 4,870 4,761 1,067 8,150 - - 8,166 2,264 3,072 147 41 53 - 42 - 5,403 - 4,755 - 205 - 154 - 728 - 555 - 661,582 596,830 12,058 9,274 |
Total 2023 £ 522,480 12,118 34,030 2,224 8,446 1,407 9,827 10,698 8,166 3,260 42 4,755 154 555 |
|---|---|---|
| 618,162 |
- 20 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9 Charitable activities
(Continued)
| Residents' care Memorial Institute costs Foundation 2024 2024 2024 £ £ £ Charitable activities b/f 638,749 13,373 9,460 Share of support costs (see note 10) 173,974 18,950 6,035 Share of governance costs (see note 10) 17,953 810 12,690 830,676 33,133 28,185 Analysis by fund Unrestricted funds 824,114 28,555 28,185 Restricted funds 6,562 4,578 - 830,676 33,133 28,185 |
Total 2024 Residents' care Memorial Institute costs Foundation 2023 2023 2023 £ £ £ £ 661,582 596,830 12,058 9,274 198,959 165,984 30,408 9,296 31,453 17,231 820 15,036 891,994 780,045 43,286 33,606 880,854 779,088 33,911 33,606 11,140 957 9,375 - 891,994 780,045 43,286 33,606 |
Total 2023 £ 618,162 205,688 33,087 |
|---|---|---|
| 856,937 | ||
| 846,605 10,332 |
||
| 856,937 |
- 21 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
10 Support costs allocated to activities
| Staff costs Depreciation Repairs Premises and administration costs Governance costs Analysed between: RDM Home RDM Institute Foundation 11 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets |
2024 £ 77,570 2,463 74,846 44,080 31,453 230,412 191,927 19,760 18,725 230,412 2024 £ 14,414 14,626 |
2023 £ 74,769 3,030 82,582 45,308 33,087 |
|---|---|---|
| 238,776 | ||
| 183,215 31,228 24,333 |
||
| 238,776 | ||
| 2023 £ 13,570 15,148 |
12 Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year, or were reimbursed any expenses (2023- none were reimbursed).
13 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| Home administration Home care workers Total |
2024 Number 2 25 27 |
2023 Number 2 25 |
| 27 |
- 22 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 13 | Employees | (Continued) | |
|---|---|---|---|
| Employment costs | 2024 | 2023 | |
| £ | £ | ||
| Wages and salaries | 580,078 | 554,607 | |
| Social security costs | 42,110 | 33,758 | |
| Other pension costs | 10,505 | 8,884 | |
| 632,693 | 597,249 | ||
| There were no employees whose annual remuneration was more than £60,000. | |||
| Remuneration of key management personnel | |||
| The remuneration of key management personnel was as follows: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Aggregate compensation | 64,397 | 61,142 | |
| 14 | Gains and losses on investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| Gains/(losses) arising on: | £ | £ | |
| Revaluation of investments | 3,738 | 6,106 | |
| Sale of investments | 1,583 | 2,069 | |
| Revaluation of investment properties | 112,284 | - | |
| 117,605 | 8,175 |
15 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 23 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 16 Tangible fixed assets Cost At 1 January 2024 Additions At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charged in the year At 31 December 2024 Carrying amount At 31 December 2024 At 31 December 2023 17 Investment property Fair value At 1 January 2024 Additions through external acquisition Net gains or losses through fair value adjustments At 31 December 2024 |
Land and buildings Fixtures, fittings & equipment £ £ 477,797 85,702 - 1,275 477,797 86,977 - 51,311 - 14,626 - 65,937 477,797 21,040 477,797 34,391 |
Total £ 563,499 1,275 |
|---|---|---|
| 564,774 | ||
| 51,311 14,626 |
||
| 65,937 | ||
| 498,837 | ||
| 512,188 | ||
| 2024 £ 835,000 17,716 112,284 |
||
| 965,000 |
Investment property comprises six cottages at the Robert Douglas Memorial Home and one cottage at the Robert Douglas Institute, both in Scone. The fair value at 31 December 2024 has been determined by the Trustees, based on a representative valuation of No. 2 Douglas Cottages and the Caretaker’s Cottage, carried out on 23 June 2025 by Allied Surveyors Scotland Limited, independent of the charity. The Trustees applied the results of this representative valuation to the remaining cottages at the Memorial Home. Allied Surveyors Scotland Limited also performed the last full valuation of all properties in 2020.
- 24 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Fixed asset investments
| Cost or valuation At 1 January 2024 Valuation changes Disposals At 31 December 2024 Carrying amount At 31 December 2024 At 31 December 2023 19 Debtors Amounts falling due within one year: Other debtors 20 Creditors: amounts falling due within one year Other taxation and social security Other creditors 21 Creditors: amounts falling due after more than one year Other creditors |
Listed investments £ 132,121 5,321 (10,495) 126,947 126,947 132,121 2024 2023 £ £ 62,539 61,675 2024 2023 £ £ 10,620 9,297 62,786 75,140 73,406 84,437 2024 2023 £ £ 80,391 80,391 |
|---|---|
The loan from The Forteviot Charitable Trust is secured over the home. It is interest free and is repayable on the disposal of the home.
- 25 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
22 Retirement benefit schemes
| Retirement benefit schemes | ||
|---|---|---|
| 2024 | 2023 | |
| Defined contribution schemes | £ | £ |
| Charge to profit or loss in respect of defined contribution schemes | 10,505 | 8,884 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
23 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| At 1 January | Incoming | Resources | At 31 | |
|---|---|---|---|---|
| 2024 | resources | expended | December | |
| 2024 | ||||
| £ | £ | £ | £ | |
| RDMH Residents' Benefit Fund | 8,286 | 505 | (6,562) | 2,229 |
| RDMI PKC Community Investment Fund | 8,152 | - | (2,188) | 5,964 |
| RDMI Forteviot Trust | 2,237 | - | (2,237) | - |
| RDMI Warm Welcome Fund | - | 2,210 | (153) | 2,057 |
| 18,675 | 2,715 | (11,140) | 10,250 | |
| Previous year: | At 1 January | Incoming | Resources | At 31 |
| 2023 | resources | expended | December | |
| 2023 | ||||
| £ | £ | £ | £ | |
| RDMH Residents' Benefit Fund | 7,303 | 1,940 | (957) | 8,286 |
| RDMI PKC Community Investment Fund | 286 | 9,940 | (2,074) | 8,152 |
| RDMI PKC Cost of Living Community Fund | 1,971 | 5,330 | (7,301) | - |
| RDMI Forteviot Trust | 2,237 | - | - | 2,237 |
| 11,797 | 17,210 | (10,332) | 18,675 |
- 26 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
24 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2024 2024 £ £ At 31 December 2024: Tangible assets 492,873 5,964 Investment properties 965,000 - Investments 126,947 - Current assets/(liabilities) 395,743 4,286 Long term liabilities (80,391) - 1,900,172 10,250 |
Total 2024 £ 498,837 965,000 126,947 400,029 (80,391) 1,910,422 |
|---|---|
| Unrestricted Restricted funds funds 2023 2023 £ £ At 31 December 2023: Tangible assets 504,236 7,952 Investment properties 835,000 - Investments 132,121 - Current assets/(liabilities) 349,330 10,723 Long term liabilities (80,391) - 1,740,296 18,675 |
Total 2023 £ 512,188 835,000 132,121 360,053 (80,391) 1,758,971 |
|---|---|
25 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
- 27 -
THE DOUGLAS FOUNDATION (KNOWN AS THE ROBERT DOUGLAS FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 26 Cash absorbed by operations 2024 £ Surplus for the year 151,451 Adjustments for: Investment income recognised in statement of financial activities (59,452) Gain on disposal of investments (1,583) Fair value gains and losses on investment properties (112,284) Fair value gains and losses on investments (3,738) Depreciation and impairment of tangible fixed assets 14,626 Movements in working capital: (Increase) in debtors (864) (Decrease)/increase in creditors (11,031) Cash absorbed by operations (22,875) |
2023 £ 12,573 (48,380) (2,069) - (6,106) 15,148 (8,456) 18,995 (18,295) |
|---|---|
27 Analysis of changes in net funds
The charity had no material debt during the year.
- 28 -