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2025-04-05-accounts

REGISTERED COMPANY NUMBER: SC191533 (Scotland) REGISTERED CHARITY NUMBER: SC028441

Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2025 for Second Opportunities (acompany limited by guarantee, not having a share capital and incorporated in Scotland)

Second Opportunities

Contents of the Financial Statements for the Year Ended 5 April 2025

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Second Opportunities

Report of the Trustees for the Year Ended 5 April 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 5 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015, amended 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The overall objectives of the Company remain and have not changed. The Company objectives are:

To relieve poverty among residents of Glasgow.

To provide reuse and recycling services which preserve the environment for the benefit of the general public. To promote and/or provide training in skills of all kinds that will assist in obtaining paid employment. To promote and establish other schemes of a charitable nature for the benefit of the community of the operating area.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In order to achieve the objective, the Company will:

Operate White Goods Reuse Service in partnership with a network of support agencies that identify and refer service users.

Help develop reuse & recycling services which expand community recycling in the Glasgow area. Provide a Volunteer and Training Placement Service providing involvement and training in all of the above.

FINANCIAL REVIEW

Reserves policy

The detailed financial position of the Charity is set out in the attached accounts. Total income was £326,879 (2024 £410,923) with total expenditure £478,641 (2024 £478,641) producing a net deficit of £24,272 (2024 £67,718.) This resulted in a decrease in the net assets with the closing position decreasing to £107,469 (2024 £131,741).

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.

Recruitment and appointment of new trustees

Appointment of trustees is governed by the Constitution of the Charity.

The trustees are authorised to appoint new committee members to fill vacancies arising through resignation or death of an existing committee member.

Organisational structure

The company is managed by the committee who meet on a quarterly basis to discuss the results of the company and any future developments.

Induction and training of new trustees

Most trustees are already familiar with the practical work of the charity and are encouraged to attend training sessions and development days of the organisation.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

S$C191533 (Scotland)

Registered Charity number

$C028441

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Second Opportunities

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Report of the Trustees for the Year Ended 5 April 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Registered office 30 Woodhead Road Glasgow Scotland G53 TWA

Trustees Austin Hardie Carina Jandt Kenneth Laing

Independent Examiner Fiona Ramsay MAAT Gallone and Co 14 Newton Place Glasgow G3 7PY

TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

Law applicable to charities in Scotland requires 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.) The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period.

In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently;

make judgements and estimates that are reasonable and prudent;

state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and

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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) regulations 2006. The trustees 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.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 29 December 2025 and signed on its behalf by:

Austin Hardie — Trustee 29/12/25

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Independent Examiner's Report to the Trustees of Second Opportunities

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I report on the accounts for the year ended 5 April 2025 set out on pages four to ten.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Fiona Ramsay MAAT Gallone and Co 14 Newton Place Glasgow G3 7PY

Date: 29 December 2025

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Second Opportunities

Statement of Financial Activities

for the Year Ended 5 April 2025

2025 2024
2025 Unrestricted Restricted £
INCOMING RESOURCES
Charitable activities:
Job retention scheme income - restricted fund
White goods re - use 326,879 326,879 410,923
Other coronavirus grant income
Total Incoming Resources 326,879 326,879 410,923
Resources Expended
Charitable activities
Restricted fund expenditure
White goods re - use 391,151 S51 151 478,641
Total Resources Expended 351,151 351,151 478,641
Net Incoming Resources before
Recognised Gainsand Losses		 (24,272) (24,272) (67,718)
Gains/(Losses) on Investments
Realised
Unrealised
Net Movement in Funds (24,272) (24,272) (67,718)
Reconciliation of Funds
Funds brought forward
Transfers		 107,469
_		 107,469 199,459
FUNDSCARRIEDFORWARD 107,469 107,469 131,741

CONTINUING OPERATIONS

All income and expenditure have arisen from continuing activities.

The notes form part of these financial statements

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Second Opportunities

Balance Sheet At 5 April 2025

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |2025| |Unrestricted| |fund| |Notes|£| |INTANGIBLE|ASSETS|5|4,142|8,286| |TANGIBLE|ASSETS|5|8,569|9,044| |CURRENT|ASSETS| |Stocks|6|-|-| |Debtors|7|91,411|144,450| |Cash|at|bank|and|in|hand|37,709|1,313| |129,120|145,863| |CREDITORS| |Amounts|falling|due|within one|year|8|(34,362)|(31,452)| |NET CURRENT|ASSETS/(LIABILITIES)|107,469|114,411| |TOTAL|ASSETS|LESS|CURRENT| |LIABILITIES|107,469|113,741| |NET|ASSETS/(LIABILITIES)|107,469|131,741| |FUNDS|9| |Unrestricted|funds|107,469|131,741| |TOTAL|FUNDS|107,469|~|131,741| |The|amount|of guarantees|provided|by|the|members,|the company|not having a|share|capital,|is|£1|

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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 5 April 2004 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies. The financial statements were approved by the Board of Trustees on 29 December 2025 and were signed on its behalf by:

Austin Hardie -Trustee 29 December 2025

The notes form part of these financial statements

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Second Opportunities

Notes to the Financial Statements for the Year Ended 5 April 2025

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  1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 | January 2015, amended 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

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.

Intangible fixed assets

Goodwill is provided at the following annual rates in order to write off each asset over its estimated useful life. Goodwill - 33.3% on Cost

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Leasehold Land and Buildings - 5% on Cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2; TRUSTEES' REMUNERATION AND BENEFITS

Trustees' remuneration

There were no trustees' remuneration paid for the year ended 5 April 2025 nor for the year ended 5 April 2024

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.

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Second Opportunities

Notes to the Financial Statements - continued for the Year Ended 5 April 2025

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3. STAFF COSTS
The average monthly number ofemployees during the yearwas as follows:
2025 2024
Assistants 11 11
No employees received emoluments in excess of£60,000.
4. COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Charitable activities
White goods re— use 302,859
Management fee 107,000
Bank interest received 1,064
410,923
EXPENDITURE ON
Charitable activities
White goods re - use 478,641
Total 478,641
NET INCOME/(EXPENDITURE) (67,718)
RECONCILIATION OF FUNDS
Total funds brought forward 199,459
TOTALFUNDS CARRIED FORWARD 131,741
5. INTANGIBLE FIXED ASSETS
Goodwill Totals
£ £ £
COST
Additions 12,430 12,430
AMORTISATION
Charge for the year 4,144 4,144
- 4,144 4,144
8,288 8,288
NET BOOKVALUE
At 5 April 2025 - 4,142 4,142
At5April2004 - 8,286 8,286

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Second Opportunities

Notes to the Financial Statements - continued for the Year Ended 5 April 2025

5. TANGIBLE FIXED ASSETS TANGIBLE FIXED ASSETS
Leasehold Motor Vehicles Total
Proper
ee
Cot
As at 6 April 2024
9,519
23,500
33,019
Additions
As at 5April 2025
[Depreciation
As at 6 April 2024		 esee
9,519
23,500
33,019
23,500
23,975
Provided during the
As at 5 April 2025		 year 475]
23,500		 4S
As at5April 2025
Asat5 April2024		 8,569;
-
9,044		 S 8,569
9,044
6. STOCKS
2025 2024
£ £
Stocks - -
Ts DEBTORS: AMOUNTS FALLINGDUE WITHIN ONE YEAR
2025 2024
£ £
Other debtors 2 2
Trade debtors 4,761 38,159
Amounts owedby group undertakings 86,648 106,389
91,411 144,550
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors 14,858 13,612
Social security and other taxes 18,484 16,880
Accrued expenses 1,020 960
34,362 31,452
9. MOVEMENT IN FUNDS
Net movement
At 6/4/24 in funds At 5/4/25
£ £ £
Unrestricted funds
General fund 131,741 (24,272) 107,469
TOTAL FUNDS 131,741 (24,272) 107,469
Net movement in funds, included in the above are as follows:
Incoming Resources Movement in
resources expended funds
£ £ £
Unrestricted funds
General fund 326,879 (351,151) (24,272)
TOTALFUNDS 326,879 (351,151) (24,272)

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Second Opportunities

Notes to the Financial Statements (Continued) For the Year Ended 5 April 2025

10. RELATED PARTY DISCLOSURES

Second Opportunities received a management fee of £22,577 (2024 £107,000) from New Two Limited.

11. MEMBERS GUARANTEE, NEW TWO LIMITED AND TOTAL HOMES CO-OPERATIVE

Each member undertakes to contribute an amount not exceeding £1 to the company’s assets if the company should be wound up. The trustees of Second Opportunities exercise control over New Two Limited (SC228448). New Two Limited was incorporated in Scotland. New Two Limited is a commercial division designed to generate profits to support the charitable activities of Second Opportunities. Second Opportunities is the only shareholder of New Two Limited. Second Opportunities is a director of Total Homes Co — operative.

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Second Opportunities

2025 2024 £ iB

Detailed Statement of Financial Activities for the Year Ended 5 April 2025

INCOME AND ENDOWMENTS
Charitable activities
White goods re - use 326,879 410,923
326,879 410,923
Total incoming resources 326,879 410,923
EXPENDITURE
Charitable activities
Wages 237,770 289,360
Project costs 58,086 141,308
Property costs 49,628 25,030
Depreciation and amortisation 4,619 4,619
Admin costs 28 17,364
350,131 477,681
Support costs
Governance costs
Accountancy 1,020 960
Total resources expended 351,151 478,641
Netexpenditure (24,272) (67,718)

This page does not form part of the statutory financial statements

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