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2025-08-31-accounts

REGISTERED COMPANY NUMBER: SC219319 (Scotland) REGISTERED CHARITY NUMBER: SC025309

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

TULLOCHAN

Henry Brown & Co Chartered Accountants & Registered Auditors 26 Portland Road Kilmarnock Ayrshire KA1 2EB

TULLOCHAN

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page
Report of the Trustees 1 to 8
Report of the Independent Auditors 9 to 12
Statement of Financial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 24
Detailed Statement of Financial Activities 25 to 26

TULLOCHAN

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The directors 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 the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006 and the Memorandum and Articles of Association.

Tullochan has continued to make significant progress on a programme of change and fundamental restructuring, at both Board and Executive levels, in response to some significant risks and challenges identified several years ago that were required to secure the future of the organisation. We are delighted to confirm that Tullochan has continued to produce highly commendable performance outcomes at an operational level whilst also taking significant steps forward in several key areas. The trustees would like to thank all the employees, partners and stakeholders for their continued support, effort and commitment.

OBJECTIVES AND ACTIVITIES

Objectives and Activities

As stated in the Memorandum of Association; the principal activities of Tullochan are:

Aims

Tullochan exists to help young people aged 5-25 to lead full and rewarding lives by delivering programmes that encourage and inspire young people to continually seek and seize opportunities and activities which promote personal and social development. Since Tullochan was formed in 1996 we have adapted our services to meet the ever-changing needs of young people and the wider community. Currently, Tullochan annually supports close to 1000 young people across West Dunbartonshire through a range of development programmes in schools, through activities delivered from the Tullochan Training Academy, on practical work placement projects 'Furniture Fix and Timber Transitions and Social Enterprise ventures, Fashion Fix and the Common Good.

Many of the young people we support face significant barriers impacting their ability to sustain their education and fulfil their true potential. Our range of development programmes have provided essential support and services to young people for 28 years and have been recognised locally and nationally as providing a vital contribution to the learning engagement of young people in West Dunbartonshire.

ACHIEVEMENTS AND PERFORMANCE

Projects

Primary School Project

In the past 12 months, across the 2023/24 school year and the start of the 24/25 school year we have delivered sessions to 777 young people and 40 family groups across 15 Primary schools in West Dunbartonshire. The programmes included outdoor learning along with bespoke programmes planned in partnership with schools to target the needs of their young people - including Wellbeing and Personal Development Programmes, Leadership Programmes, Transition Programmes and Community and Internet Safety Programmes.

Our Primary sessions provided an effective platform for young people to learn about the environment, take ownership of their own space and improve health and wellbeing through participation in group activities. We also forged new relationships with Primary Schools that we hadn't worked with before.

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TULLOCHAN

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2025

ACHIEVEMENTS AND PERFORMANCE Tullochan Training Academy (14+) Outcomes from September 2024 - August 2025:

The Tullochan Training Academy provides tailored support for marginalised young people and offers pathways of opportunity for young people to develop new skills, gain qualifications, increase their wellbeing and confidence and improve their employability skills.

Our Development Workers provide tailored support to each individual and ensure that the young person develops the skills necessary to engage positively with relevant mainstream services. Importantly, the young people will be encouraged to take ownership of their own choices and successfully take on the responsibilities of adulthood. We tailor engagement to fit their needs and provide opportunities and training they would not normally access. Our model of engagement is not a blanket, one size fits all approach, our model is flexible and 100% focused on the individual.

Our project has helped people overcome personal barriers to securing long term progression. We help them appreciate the skills and talents they have and raise aspirations, helping them to see their full potential. We provide valuable experience and equip them with the tools to help them forge a path into sustainable employment. We provide a platform for young people and our extended client group to engage with peers and the wider community, to alleviate social anxieties, and break down isolation. We improve wellbeing and confidence and enhanced skills, enabling participants to take positive, sustainable steps forward.

Unfortunately, we are still dealing with the long-lasting effects of the covid pandemic and the extended periods of lockdown. Long periods of isolation, lack of socialisation, loss of education and the changing dynamics of society have further marginalised our client group. We continue to find that increasing numbers of young people required a greater level of 'pre-support' to engage effectively with our services. Greater emphasis has been focused on improving social skills, wellbeing and confidence. Ultimately, we are finding that young people require longer and more intensive support before they can progress into a sustainable positive destination, particularly employment.

The Training Academy also uses our Social Enterprise ventures to provide work placements across retail, design/production and hospitality and allows young people to gain experience working in a fully supported work environment. It also increases our ability to offer training and qualifications for the young people.

Currently, the Training Academy offers the following services:

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TULLOCHAN

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2025

ACHIEVEMENTS AND PERFORMANCE

This year we have continued our partnerships with the local high schools. We have delivered sessions both in the school classrooms and worked with groups at our Training Academy. In the past 12 months, we have delivered sessions to pupils in the Vale of Leven Academy, Dumbarton Academy, Clydebank High, Our Lady and St Patrick's High School, Hermitage Academy (Argyll and Bute) and St Peter The Apostle High School.

Our High School project offers early-intervention, personal development and employability support, to 14/15-year-olds. The service is aimed at young people identified as being most at risk of leaving education without a positive destination. Young people who are now 14/15 had their transition from Primary School to High School disrupted by the Covid pandemic and during lockdown had to learn from home and many struggled to return to classroom-based education and re-adjust to normality. Our sessions help build their capacity to learn, encourage engagement with the wider curriculum, and help the young people re-engage with education and provide pathways to engage with activities delivered from our Training Academy and other training providers.

Alongside our Social Enterprises - The Common Good, Fashion Fix and Tullochan Designs - we have creative outlets such as the upcycling project Furniture Fix and a new woodworking programme - Timber Transitions - delivered as an 8-week 'work placement' model, the project mixes participants of all ages and provides practical and social learning and development opportunities. For young people, the project allows a more realistic working environment. Too often, support is delivered within a bubble - young people only engaging with their peer group. We have found that Timber Transitions works so well as it prepares young people for moving into employment where they will be expected to communicate and work alongside people of all ages.

We continue to build a strong partnership with West Dunbartonshire Council and over the past year, we have been fortunate to receive funding to deliver support as part of West Dunbartonshire's 'No One Left Behind'/'UK Shared Prosperity Fund' provision of employability services with a particular focus on tackling child poverty in West Dunbartonshire. As part of our roll out of employability, life-skills and personal development support - we have increased our engagement to include those aged 25+. As an organisation, we pride ourselves on our ability to remain agile and responsive to the needs within the community. Our engagement with older members of the community and parent groups has allowed us to support marginalised individuals and help them remove barriers and build capacity.

As part of the ongoing evolution of the Training Academy we established relationships with external agencies to widen the spectrum of experience and opportunities we can provide for young people. Partnerships with West Dunbartonshire council and other community organisations have allowed us to provide a gardening and landscaping project where young people take part in weekly sessions to regenerate local areas. As a member of the West Dunbartonshire No One Left Behind, Creative Design Group, our team have worked in partnership to deliver employability support to young people and the wider community who are not in employment, education or training and helped them to build the skills and capacity to progress positively.

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TULLOCHAN

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

ACHIEVEMENTS AND PERFORMANCE

Social Enterprises

Our social enterprises exist to help close the skills and experience gap the young people we engage with have. The supportive, welcoming environment with real time feedback strongly supports the ongoing personal development and employability skills of our young people. Our key aims are to provide training and work experience for our young people whilst also offering valuable services to the community.

Common Good

The Common Good is Tullochan's Social Enterprise Café and Training Kitchen established to benefit the wider community. Our dedicated team, led by the Kitchen Manager, provide real-life training opportunities and support for young people in West Dunbartonshire enabling them to gain valuable work experience in a real commercial kitchen - preparing and cooking food, barista skills and serving customers. Through Tullochan, young people gain industry standard qualifications in food hygiene and are supported to use their new skills and experience to progress onto a positive destination. As a social enterprise, any revenue generated by 'The Common Good' is fully invested back into covering core costs.

Fashion Fix

Fashion Fix is a Social Enterprise delivered in partnership with clothing firm Boohoo. Through donations of clothing from Boohoo, we hold a 2-day pop-up sale where all garments sold at a nominal price to our customers. The garments are one-off samples that are no longer needed by the company and would normally be destined for the landfill. Our Fashion Fix project also offers work placement opportunities for young people and volunteering opportunities for older members of the community to gain experience and develop skills in retail and customer service. We have also developed a new retail project for schools using Fashion Fix stock. The retail project offers young people the opportunity to plan and deliver their own pop-up sale for the wider school. Through the project the young people gain valuable skills and experience in planning, marketing, stock-taking, social media, operating till/card machines and cashing up.

FINANCIAL REVIEW

Review of Financial Period

The net deficit for the year was £17,087 (2024: net deficit £18,580). The statement of financial activities, which is included at page 3 of the financial statements, shows the restricted, unrestricted general funds and unrestricted designated funds. A more detailed analysis of these funds is included in the notes to the financial statements (note 17).

Principal Funding Sources

The company receives donations and grants from: Scottish Government Agencies; West Dunbartonshire Council; industry; charitable trusts; and also private' individuals. It also organises fundraising events and collections.

Our main funding continues to be on a medium to long term basis giving us the stability that we need to allow us to develop. At 31 August 2025 our funding mix reflects this firmer foundation and our ability to allocate ongoing funds.

Investment Powers and Policy

The company only holds cash funds and does not invest in any higher risk investments. Although bank balances can be significant at any point in time, this includes the advance payment of restricted funding for specific projects and periods. These funds are required in the short term and could not be invested in longer term investments.

Reserves Policy and Going Concern

The Trustees have considered the charity's circumstances and are satisfied that there are sufficient funds in hand to meet the charitable company's commitments for the foreseeable future. The Trustees are of the view that the charity continues to be a going concern. Tullochan seeks to ensure that the organisation maintains an absolute minimum of 3 months' expenditure cover at any one time. The Trustees consider reserves as being adequate, in the event of a significant drop in funding, to enable continuation of the Tullochan's current activities while consideration is given to ways in which additional funding may be raised. At 31 August 2025 the contingency fund was £225,000 and this level is considered to be appropriate within the charity's reserves policy. The Board is confident that the expected financial position for the financial year ending 31 August 2025 continues to be solid. A designated IT fund of £25,000 was established at 31 August 2020 and was partially utilised during the following accounting years with expenditure on much needed IT equipment. The total unrestricted funds (excluding the net book value of fixed assets) at the balance sheet date was £236,481.

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TULLOCHAN

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

PLANS FOR FUTURE PERIODS

JP Morgan 'Force For Good' / Tullochan Designs

Tullochan Designs is our creative printing and design project established when we closed the Design House retail outlet May 2023.

Reducing additional overheads by closing the 'Design House' shop and scaling back the services with the re-branded Tullochan Designs has allowed us to be much more focused on our output. Over the past 12 months we have worked with JP Morgan's 'Force For Good' project to build an e-commerce extension into the Tullochan website. We will utilise our new e-commerce pages to promote and market Tullochan Designs with the launch introducing our new range of Tullochan Merchandise, all designed in-house. Tullochan Designs will offer placements for young people to gain new skills and experience in printing, retail and social media.

Importantly, Tullochan Designs will aim to generate income offering products with a feel-good factor - all profits are reinvested to support local young people.

Provision of Support

Securing Funding for third sector organisations is becoming more difficult with a congested playing field of organisations seeking the same funding. We know increased competition for funding will continue so we are focused on ensuring we have a robust funding pipeline to stay up to speed with potential trusts and funding opportunities to enable us to continue a steady output of applications.

A key to stability will be maintaining a positive relationship with the local authority and meeting targets set out in funded Employability contracts. Tullochan will maintain our high standards of delivery to ensure that we can secure long term, contracts and remain financially viable.

We have secured two West Dunbartonshire Council 'No One Left Behind' / 'Shared Prosperity Fund' contracts to deliver support and assistance to young people and parents. Our engagement is focused on removing barriers to employment, increasing employability skills and preparing clients to take the first steps in their journey towards finding sustainable work.

The budget cuts across Education departments have reduced the likelihood of Tullochan receiving contracts to deliver sessions through Pupil Equity Funding. We were keen to continue delivering support to young people in Primary School and as part of our new 'No One Left Behind' contract (from WDC) we will help parents across West Dunbartonshire increase employability skills and remove barriers to employment while at the same time providing much needed support and development for the young people.

Our Parent project will include a unique model of engagement with a 'two-pronged' attack on child poverty - where we will deliver employability/personal development sessions to parents in a community setting and at the same time our Youth Workers will run youth development sessions for their children. This model eases accessibility for parents and the provision of support for the young people frees up the parents to engage fully with the session. Most importantly, the young people get the direct benefit from the youth development support they receive from our team.

We will continue to develop our relationships with the local high schools and provide both classroom sessions and activities based at our Training Academy for young people who need personal development and employability support and through our REHIS delivery provide the opportunity for young people with poor attainment levels achieve accredited vocational qualifications.

We will remain agile and adapt to the ever-changing needs of our community and strive to support those most in need and continue to play an integral role as a trusted provider within the West Dunbartonshire Employability network. Our services are needed by the community now more than ever and we will continue to help remove personal barriers which have prevented our client group from progressing positively into further training and employment. Our tailored approach and non-linear engagement will continue to enable people to find the pathway that is right for them to take steps towards sustainable outcomes.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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TULLOCHAN

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Charity Constitution

The company is a private company limited by guarantee and is a registered Scottish charity. A copy of the company's current Articles of Association, which among other matters deals with the rights of members, appointment and termination of directors, restrictions imposed on the company and powers of investment, is available from the company's registered office.

The Tullochan Trust was formed on 1 June, 1996 and formally established by Trust Deed in September, 1996. It was constituted by a Board of Trustees who continues to meet at least four times per year. On 1 September 2001 the entire assets, liabilities and operations of the existing Trust were transferred to a company limited by guarantee named the Tullochan Trust. The Trustees govern the company in accordance with the articles set out in the Memorandum of Association. On 15 March 2011 a deed was processed to change the name of The Tullochan Trust to Tullochan.

Recruitment and Appointment of New Trustees

Trustees are recommended and appointed by approval of the Board of Trustees. No external parties are empowered to appoint Trustees. There are no formally related parties. All new Trustees are given induction training and made fully aware of the objectives of the company and their responsibilities at law for the stewardship of the Trust. Under the Memorandum and Articles of Association, the charity has the power to make any investment as the trustees see fit.

Organisational Structure

The Board is responsible for policy decisions and ensuring that the company operates within its constitution. Board members meet formally at least four times per year and set the strategic guidance and context for the organisation. Directors are trustees in law for the charity and have a fiduciary responsibility over its assets and finances. An Executive Team of two, who meet formally at least once per week, manage the day-to-day operational activities of Tullochan. A number of ad-hoc sub-groups comprising a mixture of Board members and Executive staff serve to help operationalise the strategy and monitor progress on key areas of activity. At an operational level, staff are organised in project teams to provide focus, continuity and clarity of roles and responsibilities in delivering agreed project outcomes and planned organisational objectives within the set budgets for each project. There are regular project management and performance review meetings held at all levels.

The current key management personnel are:

Chief Executive Officer Richie Gallacher Operations Manager Alex Goodwin Finance Manager Sharon Hennigan

Induction and Training of Trustees

As noted above, the current Board has very diverse skills and relevant experience. However, the Board will continue to develop its policies and procedures, including induction and training.

Pay Policy for Senior Staff

The pay of senior staff is reviewed annually by the Board with reference to pay scales for similar organisations within the sector.

Related Parties

Transactions during the period between the charity and a related party of any trustee and transactions with trustees are disclosed within the notes of the financial statements.

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TULLOCHAN

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The Board of Trustees has conducted its own review of the major risks to which the charity is exposed and, systems have been established to mitigate those risks. In common with many third sector organisations, the trustees consider the key risk to the charity to be the uncertainty of guaranteed funding beyond a relatively short period. Alternative sources of funding are always considered for the future continuity and development of the company's activities. In terms of day-today activities, the main risk areas are that potentially vulnerable groups are involved with the charity. Protection of staff and volunteers is also a potential risk. Health and safety policies, insurance cover and the required disclosure checks for employees and volunteers are implemented to reduce the risks. External risks have been addressed in the strategic plan which allows for the diversification and development of activities to mitigate the identified risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number SC219319 (Scotland)

Registered Charity number SC025309

Registered office

9-11 Poplar Road Broadmeadow Industrial Estate Dumbarton G82 2RD

Trustees

Mrs M McCann Director I K Macrae Director C McNab Director A J S Kyle Director

Board of Trustees

The following Trustees served throughout the period unless otherwise noted: Mrs M McCann Mr I K Macrae Mr C McNab Mr A Kyle

Auditors Henry Brown & Co Chartered Accountants & Registered Auditors 26 Portland Road Kilmarnock Ayrshire KA1 2EB

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Tullochan for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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TULLOCHAN

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that 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 irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Henry Brown & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 28 May 2026 and signed on its behalf by:

C McNab - Trustee

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF TULLOCHAN

Opinion

We have audited the financial statements of Tullochan (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (United Kingdom Generally Accepted Accounting Practice).

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF TULLOCHAN

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

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 charitable company'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 liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF TULLOCHAN

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- identifying, evaluating and complying with laws and regulations.

As with all audits performed under ISAs ( UK), all procedures were designed and performed in such a way as to take account of the overall control environment, management's attitude toward those controls and the ever present risk that controls may be overridden by management.

We obtained an understanding of the legal and regulatory frameworks in which the Charitable Company operates, focussing on those laws which had a direct effect on the material balances and disclosures in the Charitable Company's financial statements. Key laws & regulations considered in this context are:

In addition, we considered other laws & regulations that do not have a direct effect on the financial statements, but compliance is necessary for the continued operations of the Charitable Company, or to avoid a material penalty. Laws & regulations considered in this context are:

Our procedures to respond to the risks identified included the following:

In the assessment of the risk of fraud through management override of controls, we have made enquiries of management on their assessment of the susceptibility of the financial statements to fraud (and any known, suspected, or alleged instances in the year), reviewed of large and unusual transactions, tested the appropriateness of journal entries, assessed whether the judgements made in the Charitable Company making accounting estimates are indicative of a potential management bias, and evaluated the business rationale of any significant transactions that are outside the normal course of business. entity that were contrary to applicable laws and regulations, including fraud. In addition we carried out analytical procedures to identify unusual or unexpected relationships and designed and performed tests to identify undisclosed related party transactions.

In response to the presumed significant risk associated with the recognition of income we designed and performed tests, including the testing of income completeness and cut off.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF TULLOCHAN

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company'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 charitable company's members and the trustees those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Gregor D.B. Orr BAcc (Hons) CA (Senior Statutory Auditor) for and on behalf of Henry Brown & Co Chartered Accountants & Registered Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 26 Portland Road Kilmarnock Ayrshire KA1 2EB

28 May 2026

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TULLOCHAN

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
105,805
Charitable activities
4
Charitable activites
122,952
Investment income
3
2,496
Other income
10,500
Total
241,753
EXPENDITURE ON
Raising funds
5
180
Charitable activities
6
Charitable activites
280,660
Total
280,840
NET INCOME/(EXPENDITURE)
(39,087)
RECONCILIATION OF FUNDS
Total funds brought forward
281,795
TOTAL FUNDS CARRIED FORWARD
242,708		 Restricted
funds
£
387,090
-
-
-
387,090
-
365,090
365,090
22,000
146,845
168,845		 2025
Total
funds
£
492,895
122,952
2,496
10,500
628,843
180
645,750
645,930
(17,087)
428,640
411,553		 2024
Total
funds
£
492,630
147,616
2,758
5,000
648,004
212
666,373
666,585
(18,581)
447,221
428,640

The notes form part of these financial statements

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TULLOCHAN

BALANCE SHEET 31 AUGUST 2025

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
12
6,227
CURRENT ASSETS
Stocks
13
1,750
Debtors
14
560
Cash at bank and in hand
266,396
268,706
CREDITORS
Amounts falling due within one year
15
(32,225)
NET CURRENT ASSETS
236,481
TOTAL ASSETS LESS CURRENT
LIABILITIES
242,708
ACCRUALS AND DEFERRED INCOME
17
-
NET ASSETS
242,708
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
168,845
168,845
-
168,845
168,845
-
168,845		 2025
Total
funds
£
6,227
1,750
560
435,241
437,551
(32,225)
405,326
411,553
-
411,553
242,708
168,845
411,553		 2024
Total
funds
£
13,008
1,749
19,303
421,853
442,905
(17,273)
425,632
438,640
(10,000)
428,640
281,795
146,845
428,640

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 28 May 2026 and were signed on its behalf by:

C McNab - Trustee

The notes form part of these financial statements

Page 14

TULLOCHAN

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
8,642
8,642
-
2,250
2,496
4,746
13,388
421,853
435,241		 2024
£
(48,852)
(48,852)
(2,638)
1,870
2,758
1,990
(46,862)
468,715
421,853

The notes form part of these financial statements

Page 15

TULLOCHAN

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2025

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Loss/(profit) on disposal of fixed assets
Interest received
(Increase)/decrease in stocks
Decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operations		 2025
£
(17,087)
2,788
1,743
(2,496)
(1)
18,743
4,952
8,642		 2024
£
(18,581)
7,253
(77)
(2,758)
500
4,063
(39,252)
(48,852)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/9/24 Cash flow At 31/8/25
£ £ £
Net cash
Cash at bank and in hand 421,853 13,388 435,241
421,853 13,388 435,241
Total 421,853 13,388 435,241

The notes form part of these financial statements

Page 16

TULLOCHAN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are presented in sterling (£) and have been prepared in accordance with 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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act. Tullochan meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note (s).

Preparation of accounts on a going concern basis

The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for a period of 12 months from the date of approval by the Board. The company is reliant on external funding and, while the directors have no reason to believe that such funding will not continue, the company's ability to continue in business is dependent on being successful in attracting such funding.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:

Income from donations & legacies is received by way of grants, donations and gifts and is included in full in the SoFA when receivable. Grants, where entitlement is not conditional on the delivery of a special performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant are recognised at the time of donation.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of investment income is included when receivable.

Income from grants, where related to performance and specific deliverable, are accounted for as the charity earns the right to consideration by its performance.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

Governance costs includes those costs associated with meeting the constitutional and statutory requirements of the charity and include the auditor's fees and costs linked to the strategic management of the charity which are voluntary other than trustees' travelling expenses reimbursed. Although disclosed separately within the notes, governance costs now form part of the charitable expenditure under the current SORP.

Tangible fixed assets

Fixed assets are stated at cost less accumulated depreciation. Minor additions costing below £500 are not capitalised.

continued...

Page 17

TULLOCHAN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Depreciation is provided at the following annual rates calculated to write off the cost, less residual value, of each asset over its expected useful life.

Stocks

Purchased stock is stated at the lower of cost and estimated selling price. Stock excludes goods donated from the fashion retailers, where the only cost to the charity is delivery costs.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the directors in furtherance of the general objectives of the charity.

Designate funds are unrestricted funds which have been set aside at the discretion of the directors for specific purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or grantor.

Transfers between funds are made at the discretion of the directors taking into consideration any restrictions imposed on funds.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Other basic financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Deferred Income

Deferred income relates to receipt in advance of a grant for expenditure that must take place in a future accounting period.

continued...

Page 18

TULLOCHAN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

2. DONATIONS AND LEGACIES

Donations
Gift aid
Grants
Schools
Grants received, included in the above, are as follows:
Other grants
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Social enterprise income
Charitable activites
5.
RAISING FUNDS
Other trading activities
Fundraising
6.
CHARITABLE ACTIVITIES COSTS
Charitable activites		 Direct
Costs
£
631,411		 2025
£
9,627
680
482,363
225
492,895
2025
£
482,363
2025
£
2,496
2025
£
122,952
2025
£
180
Support
costs (see
note 7)
£
14,339		 2024
£
13,325
680
431,768
46,857
492,630
2024
£
431,768
2024
£
2,758
2024
£
147,616
2024
£
212
Totals
£
645,750

continued...

Page 19

TULLOCHAN

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

7. SUPPORT COSTS

SUPPORT COSTS
Governance
Finance costs Totals
£ £ £
Charitable activites 2,590 11,749 14,339

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration
Depreciation - owned assets
Other operating leases
(Deficit)/surplus on disposal of fixed assets		 2025
£
7,500
2,788
20,000
1,743		 2024
£
5,000
7,253
20,000
(77

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.

10. STAFF COSTS

Wages and salaries 2025
£
461,927
461,927		 2024
£
460,086
460,086

The key management personnel of the charity are detailed in the Directors' Report and their total employee benefits were £144,345 (2024:: £137,676).

The average monthly number of employees during the year was as follows:

Management
Administration staff
Project staff		 2025
3
2
16
21		 2024
3
2
18
23

No employees received emoluments in excess of £60,000.

continued...

Page 20

TULLOCHAN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
186,991
305,639
Charitable activities
Charitable activites
147,616
-
Investment income
2,758
-
Other income
5,000
-
Total
342,365
305,639
EXPENDITURE ON
Raising funds
212
-
Charitable activities
Charitable activites
498,461
167,912
Total
498,673
167,912
NET INCOME/(EXPENDITURE)
(156,308)
137,727
Transfers between funds
122,131
(122,131)
Net movement in funds
(34,177)
15,596
RECONCILIATION OF FUNDS
Total funds brought forward
315,972
131,249
TOTAL FUNDS CARRIED FORWARD
281,795
146,845
12.
TANGIBLE FIXED ASSETS
Plant and
Motor
Computer
machinery
vehicles
equipment
£
£
£
COST
At 1 September 2024
8,692
12,619
18,043
Disposals
-
(12,619)
-
At 31 August 2025
8,692
-
18,043
DEPRECIATION
At 1 September 2024
3,067
8,626
14,653
Charge for year
1,126
-
1,662
Eliminated on disposal
-
(8,626)
-
At 31 August 2025
4,193
-
16,315
NET BOOK VALUE
At 31 August 2025
4,499
-
1,728
At 31 August 2024
5,625
3,993
3,390		 Total
funds
£
492,630
147,616
2,758
5,000
648,004
212
666,373
666,585
(18,581)
-
(18,581)
447,221
428,640
Totals
£
39,354
(12,619)
26,735
26,346
2,788
(8,626)
20,508
6,227
13,008

continued...

Page 21

TULLOCHAN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

13. STOCKS

Stocks
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Credit card control
Social security and other taxes
Pension control account
VAT
Wages control
Accrued expenses

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
17.
ACCRUALS AND DEFERRED INCOME
Deferred government grants		 2025
£
20,000
66,667
86,667
2025
£
-		 2024
£
-
-
-
2024
£
10,000

continued...

Page 22

TULLOCHAN

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
West Dunbartonshire Council - NOLB
West Dunbartonshire Council - Shine
West Dunbartonshire Counci - Youth
Success Fund
West Dunbartonshire Council - Multiply
Robertson Trust
National Lottery
Gannochy
Swire Charitable Trust
Steele Charitable Trust
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
West Dunbartonshire Council - NOLB
West Dunbartonshire Council - Shine
West Dunbartonshire Counci - Youth
Success Fund
West Dunbartonshire Council - Multiply
West Dunbartonshire Council - ERI
Robertson Trust
National Lottery
Gannochy
Royal Environmental Health Institute
Scotland
Cash for Kids
Scottish Childrens Lottery
Swire Charitable Trust
Steele Charitable Trust
Strathleven Foundation
TOTAL FUNDS		 At 1/9/24
£
281,795
95,584
2,000
7,761
-
16,500
15,000
10,000
-
-
146,845
428,640
Incoming
resources
£
241,753
179,054
2,100
-
32,674
3,500
33,000
65,000
21,000
550
2,364
1,000
30,000
15,000
1,848
387,090
628,843		 Net
movement
At
in funds
31/8/25
£
£
(39,087)
242,708
(5,587)
89,997
(2,000)
-
(7,761)
-
3,435
3,435
-
16,500
(9,587)
5,413
1,000
11,000
30,000
30,000
12,500
12,500
22,000
168,845
(17,087)
411,553
Resources
Movement
expended
in funds
£
£
(280,840)
(39,087)
(184,641)
(5,587)
(4,100)
(2,000)
(7,761)
(7,761)
(29,239)
3,435
(3,500)
-
(33,000)
-
(74,587)
(9,587)
(20,000)
1,000
(550)
-
(2,364)
-
(1,000)
-
-
30,000
(2,500)
12,500
(1,848)
-
(365,090)
22,000
(645,930)
(17,087)

continued...

Page 23

TULLOCHAN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

18. MOVEMENT IN FUNDS - continued

Designated Funds

Included within unrestricted funds is a balance for designated funds. During the year there was expenditure of £6,781 (2024: £9,046). At the year-end date the amount remaining in the designated funds was £240,680 (2024: £247,462).

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2025.

continued...

Page 24

TULLOCHAN

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Schools
Investment income
Deposit account interest
Charitable activities
Social enterprise income
Other income
Employment allowance
Total incoming resources
EXPENDITURE
Other trading activities
Fundraising
Charitable activities
Wages
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Travel
Training
Activities
Motor expenses
Repairs and renewals
Computer costs
Subscriptions
Social enterprise costs
Plant and machinery
Motor vehicles
Computer equipment
Loss on sale of tangible fixed assets		 2025
£
9,627
680
482,363
225
492,895
2,496
122,952
10,500
628,843
180
461,927
20,000
2,481
12,028
13,311
978
2,169
1,034
3,634
7,142
14,253
923
9,578
6,144
4,293
66,985
1,126
-
1,662
1,743
631,411		 2024
£
13,325
680
431,768
46,857
492,630
2,758
147,616
5,000
648,004
212
460,086
20,000
2,937
11,920
14,709
830
1,653
857
4,968
8,400
8,663
5,139
12,034
6,702
4,630
84,945
1,409
1,331
4,513
(77)
655,649

This page does not form part of the statutory financial statements

continued...

Page 25

TULLOCHAN

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

Support costs
Finance
Bank charges
Credit card
Governance costs
Auditors' remuneration
Consultancy
Accountancy and legal fees
Legal fees
Total resources expended
Net expenditure		 2025
£
1,002
1,588
2,590
7,500
1,084
2,600
565
11,749
645,930
(17,087)		 2024
£
1,391
2,012
3,403
5,000
1,208
1,100
13
7,321
666,585
(18,581)

This page does not form part of the statutory financial statements

Page 26