Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
**Report and Financial Statements for the year ended 31 March 2025**
**Charity number: SC028909 Company number: SC190521**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Contents**
||**Page**|
|---|---|
|Charity Information|**1**|
|Trustees' Annual Report|**2 - 12**|
|Independent Auditor's Report|**13 - 16**|
|Statement of Financial Activities|**17**|
|Balance Sheet|**18**|
|Statement of Cash Flows|**19**|
|Notes to the Financial Statements|**20 - 33**|
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
**Rosemount Lifelong Learning**
## **REFERENCE and ADMINISTRATIVE DETAILS**
|**Charity Name**|Rosemount Lifelong Learning||
|---|---|---|
|**Charity Registration Number**|SC028909||
|**Company Registration Number**|SC190521||
|**Trustees**|Elizabeth Wilson|(Chair)|
||Neil Hunter|(Vice-Chair)|
||Edmund Monaghan||
||Kennth Bennett||
||Samantha Boyd||
||Suzanne Cuthill||
|**Company Secretary**|Andrew Luke||
|**Senior Management**|Sean Morrow (CEO)||
||Andrew Luke (Finance Manager)||
||Marie Docherty (Operations Manager)||
||Lorna Carlyle (Nursery Manager)||
|**Principal Office and**|||
|**Registered Office**|102 Royston Road||
||Glasgow||
||G21 2NA||
|**Website**|www.rosemount.ac.uk||
|**Auditors**|Wbg (Audit) Limited||
||168 Bath Street||
||Glasgow||
||G2 4TP||
|**Bankers**|Royal Bank of Scotland||
||1304 Duke Street||
||Glasgow||
||G31 5PZ||
|**Solicitors**|TC Young Solicitors||
||Merchants House||
||7 West George Street||
||Glasgow||
||G2 1BA||
**Page 1**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
The Trustees present their report and financial statements for the year ended 31 March 2025.
The Directors of the charitable company are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The Trustees serving during the year and since the year end are listed on page 1.
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 Memorandum and Articles of Association, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102)” (effective for accounting periods commencing from 1 January 2019).
The Directors of the charitable company are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The Trustees serving during the year and since the year end are listed on page 1.
## **BACKGROUND**
Rosemount Lifelong Learning is based in Royston, North Glasgow. The organisation was established in 1998 and has evolved its service provision over 22 years in response to the needs of the local community. In 2014 a new, fit for purpose Learning and Event space was created to enable Rosemount to continue to provide high quality services for people living in Royston and the wider North Glasgow area. In addition to learning & employment opportunities and support services, the organisation continues to provide nursery/early years learning where 43 places are available to provide high quality care and education.
Our **mission** is to support individual and social change through the concept of learning as a lifelong ambition across a diverse range of demographics, backgrounds and experiences - for children, young people and adults living in the North Glasgow area.
Rosemount Lifelong Learning’s **vision** is a community where every individual is empowered to reach their full potential. To achieve this vision, we have identified the following aims:
- Support individuals to make a difference to their lives by building confidence, increasing aspirations and developing skills.
- Provide a range of services tailored to meet individual needs.
- Promote the concept of formal and non-formal learning opportunities.
- Ensure quality in everything we do.
- Engage with the community to shape and develop our services.
- Build on a partnership approach to achieve the best results for people using our services.
In order to meet our aims, Rosemount Lifelong Learning provide a range of services for the local community from two buildings which include:
- Children, Young People & Early Years Learning Opportunities.
- Employability services.
- ITC & Digital skills.
- Learning Support Services.
- Access to College & Universities.
- Adult Learning (both formal & non-formal contexts).
- ESOL, literacy & Numeracy groups and one to one tutoring.
- Skills Development & CPD Courses.
- Community Engagement Activities & Volunteering.
**Page 2**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
## **ACHIEVEMENTS AND PERFORMANCE**
Our services are delivered predominately from our purpose-built Learning and Event space, however since the COVID-19 pandemic and financial pressures as a result of economic inflation, RLL has seen a continued increase of participation from across the city of Glasgow creating greater demand for our in-house services and further outreach work.
In order to meet our aims, Rosemount Lifelong Learning delivered a range of integrated services to individuals and families living in NE Glasgow. Rosemount’s primary focus is learning for all ages, taking a wider definition of family support by providing tailored services to meet the needs of individuals within the family as well as the whole family at a time that is right for them.
Our services for adults and families are delivered mainly from our purpose-built Learning and Event space, but we also deliver some services from outreach locations to ensure that they are accessible. We work with individuals but also with families to improve their lives together, encouraging shared activities and learning. An overview of our activities and project can be seen below:
## **Children, Young People & Early Years Learning Opportunities**
## **Early Years Learning & Childcare**
In November 2021, Rosemount Lifelong Learning opened its new childcare facility, providing highquality, affordable childcare and early years learning for up to 45 children. As a partnership nursery with Glasgow City Council, families of children in our 3–5 room can access NAMS funding, ensuring affordability and reducing financial barriers to learning and employment.
At the heart of our provision is a dual commitment: supporting local families to pursue education and employment opportunities without childcare being a barrier; providing children with the best possible start in their lifelong learning journey. Our services promote a wide range of early years experiences, including outdoor play, creative learning activities, and opportunities for children and parents to learn together.
This year, we proudly launched Rosebuds, our new 9-placement baby room (increasing our overall provision to 54 FTE placements), which has already supported 12 families to access Higher and Further Education courses whilst providing additional sources in income for the organisation. By offering dedicated childcare for babies, we are extending opportunities for parents with the youngest children to return to learning and employment.
We are pleased that the Care Inspectorate continues to reflect positively on the progress and quality of our services, recognising our commitment to delivering a nurturing and stimulating environment for all children.
Staff development remains central to ensuring quality. Our Modern Apprenticeship staff continue their studies, with three now fully qualified and working as valued members of our team. In addition, two staff members are undertaking degree-level qualifications: a BA (Hons) in Childcare Studies and a BA (Hons) in Childcare Management, further strengthening our expertise and capacity.
This year, we also introduced the ‘Curiosity Approach’: an innovative early years pedagogy that encourages children to explore and learn through curiosity, imagination, and discovery. By drawing on natural resources, authentic materials, and a child-led learning environment, the approach fosters independence, creativity, and problem-solving skills. This method enriches children’s experiences, supporting them to become confident, resilient, and enthusiastic learners.
**Page 3**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
To ensure quality remains at the heart of our childcare services, our staff continue to engage in ongoing learning and development, including SVQ Level 4 in Childcare Studies and a programme of continuous professional development (CPD) coordinated by our childcare manager.
Together, these developments reflect Rosemount’s vision of providing not only outstanding early years education but also a platform for parents to pursue their own learning and career goals, creating a lasting positive impact for families and the wider community.
## **RLL Youth Hub & Digibite**
This year saw the continuation of DigiBite following the initial trial funded by SCVO, a new digital skills initiative at Rosemount Lifelong Learning designed to respond to the increasing need for digital confidence and capability within the community (across a board range of demographics). DigiBite provides short, accessible sessions focused on practical digital skills that directly support everyday life, education, and employability.
Sessions are tailored to meet learners at their own level, covering a wide range of topics such as:
- Using a wide range of digital technologies
- Promoting exploration, making mistakes and feeling comfortable with new emerging technology.
- Staying safe online and protecting personal information
- Fostering social connection and collaboration in terms of play and problem solving.
- Using digital tools to support children’s learning at school and adult engagement in learning
- (including family-based learning – learning together)
The flexible, bite-sized format ensures sessions are inclusive and accessible, removing barriers to digital learning. By combining informal, confidence-building activities with practical outcomes, DigiBite supports individuals to gain the essential digital skills needed to participate fully in modern society.
Early feedback has been overwhelmingly positive, with participants reporting greater independence, increased confidence in using online services, and improved employment prospects. For some, DigiBite has also provided the first step into more formal ICT training or accredited qualifications, creating a clear pathway to lifelong learning.
DigiBite reflects Rosemount’s commitment to tackling digital exclusion and ensuring that everyone (regardless of age, background, or prior experience) has the opportunity to benefit from the advantages of a digital world.
## **Employability Services**
## **One to one emplyment support & skills devleopment**
Funding from Glasgow City Council (GCC) has enabled the continuation and expansion of our one-toone employability support services, which are now delivered across several outreach locations in NorthEast Glasgow. These services provide individuals with the opportunity to work closely with an employability worker to explore aspirations, identify training and learning needs, and take practical steps toward achieving their goals.
At Rosemount, employability is not limited to helping people into immediate jobs (particularly low-paid or unskilled roles)but is about supporting individuals to build the skills, confidence, and experiences that open up a broader range of opportunities. This includes access to volunteering, work-based experiences and placements, as well as progression into further learning and training. By focusing on skills development and long-term progression, we aim to ensure that members of our community have the chance to access sustainable, rewarding employment pathways.
**Page 4**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
A key development this year has been our partnership with ‘Jobs & Business – Scotland’, which has strengthened our capacity to deliver tailored casework and expand the range of placement opportunities available to participants. Together, we are creating clearer pathways for individuals to gain practical experience, build networks, and enhance their employability prospects.
Through these services (and supported by strong partnerships with local agencies) we continue to receive a steady flow of referrals, reflecting Rosemount Lifelong Learning’s reputation as a credible and trusted provider of employability and training support. By combining skills development, personalised guidance, and access to practical opportunities, our employability services are helping individuals move towards greater economic independence and resilience.
## **ICT & Digital skills (Click ‘n’ Connect)**
Launched as a collaborative effort between the Virgin Money Foundation, Glasgow Kelvin College, City of Glasgow College, Glasgow City Council, and Rosemount Lifelong Learning, the 'Click 'n' Connect' programme has made significant strides in bridging the digital divide across Glasgow.
## **Programme Expansion and Reach**
- Increased Engagement: Building upon the previous year's success, the programme engaged over 550 participants in 2024/25, surpassing the initial target of 300. This growth underscores the rising demand for digital skills training in the community.
- Diverse Offerings: The initiative provided a comprehensive suite of services, including:
- PC Passport: Fundamental IT skills training.
- Photography & Digital Editing: Enhancing creative and technical skills.
- Digibite: Short, focused digital literacy sessions.
- Digitots: Digital learning for young children.
- SVQ Learning (PC@Home): Vocational qualifications in IT.
- Multiply: Numeracy and digital skills integration.
## **Key Achievements**
- Digital Skills Enhancement: Participants reported increased confidence in using digital tools for everyday tasks such as online banking, job applications, and accessing public services.
- Community Empowerment: The programme fostered a sense of community, with learners supporting each other and sharing knowledge, thereby strengthening social cohesion.
- Support for Vulnerable Groups: Targeted outreach ensured that individuals from disadvantaged backgrounds, including those with limited access to technology, were able to participate and benefit from the programme.
## **Looking Ahead**
With continued support from the Virgin Money Foundation and other partners, 'Click 'n' Connect' aims to expand its reach even further in the coming years, ensuring that more individuals across Glasgow have the opportunity to develop essential digital skills.
**Page 5**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
## **Learning Support Services**
## **Access to College & Universities**
## **College**
A series of learning opportunities have been provided by our learning partners (Glasgow Kelvin College and Glasgow City College) to promote skills development and access to further education. These courses include: food hygiene, health & safety at work, childcare and first aid. These courses cater for a range of adult learners from those looking to boost their CV as well as those interested in engaging with learning as a pathway to Further Education (FE).
In addition, we have also provided work experience for community development & youth work students from Glasgow Kelvin College as well as student childcare workers from both Glasgow Kelvin College and City of Glasgow College. Providing work experience is fundamental to the consolidation of learning; allowing new learning to be applied to practice.
## **University**
Along the theme of supporting college placements, we have also provided support for university students studying community development and educational related courses. Our aim is to support students with their ongoing learning through the provision of work experience whilst exchanging learning with our staff members.
## **Adult Learning**
## **Young Parents Project (non-formal learning)**
The Young Parents Project experienced a highly successful year, empowering young parents across Glasgow through a wide range of initiatives. These included group sessions, one-to-one support, access to activities, a summer programme, and celebratory events recognising the achievements of participants. Of the 50 young parents supported, 26 engaged in group activities while 24 benefited from individual support.
The project focused on improving wellbeing for young parents and their children, with particular emphasis on mental health, self-esteem, and building positive relationships. A highlight of the year was the nomination of two young mothers for the ‘Outstanding Young Person’ award during Rosemount’s 25th anniversary celebrations. One of the winners shared a moving testimony about the project’s transformative impact.
In addition, a creative music initiative gave young mothers the opportunity to express their experiences through a collaborative rap, _“Our Babies.”_ The piece was performed at a celebratory launch event attended by families and partners, demonstrating both the confidence and creativity of participants.
## **Glasgow Kelvin College (formal)**
Through our ongoing partnership with Glasgow Kelvin College, Rosemount continues to provide a wide range of short learning courses designed to build practical skills and enhance employability. These include accredited programmes in first aid at work, health and safety, food hygiene, childcare, and health & beauty. Over the past financial year, 64 individuals enrolled in these courses, with many participants seeking to strengthen their CVs, broaden their skillsets, and improve their chances of securing sustainable employment.
**Page 6**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
For some learners, these courses serve as valuable stepping-stones into Further Education (FE), opening doors to higher-level qualifications and long-term career progression. For others, they offer the immediate skills and certifications required to access jobs in key sectors such as care, hospitality, and retail.
By equipping community members with relevant, accredited qualifications, these programmes not only enhance individual prospects but also contribute to reducing reliance on low-skilled, insecure work. In doing so, they help to address the socio-economic challenges linked to high levels of D & E graded (non-skilled labour) employment in the area. Ultimately, this approach supports both social mobility and community resilience, as more residents are able to access meaningful, stable work and build brighter futures for themselves and their families.
## **ESOL, literacy & Numeracy groups and one to one tutoring**
Rosemount’s core services in ICT, ESOL, and literacy continue to be among the most in-demand, highlighting their vital role in helping community members access education, employment, and everyday opportunities. These services are delivered through a blend of group classes, one-to-one support from specialist tutors, and targeted outreach in community locations, helping to overcome barriers such as transport, financial constraints, disabilities, and childcare responsibilities.
ICT provision includes both informal digital learning and formal qualifications, such as SVQ courses, delivered in partnership with Glasgow Kelvin College through Rosemount’s digital suite. These programmes not only equip participants with essential skills but also create clear pathways into further education and employment, reinforcing Rosemount’s commitment to inclusive, accessible lifelong learning.
ESOL provision remains particularly high in demand, with 135 learners engaged over the past 12 months. Delivered through both group classes and individual sessions, ESOL offers a gateway for those facing barriers where English is not a first language, supporting access to learning, training, and employment. Beyond language acquisition, ESOL classes add significant social value by fostering community cohesion and reducing isolation. In North Glasgow alone, over 200 languages are spoken— creating a rich cultural diversity but also potential challenges around integration. ESOL participants frequently report wider benefits, including stronger peer support networks and improved family relationships, for example parents feeling more confident in helping their children with schoolwork.
## **Community Engagement Activities & Volunteering**
## **Family Links**
The Family Links Project continued to support children and families affected by addictions; an issue that remains one of the most significant barriers to education, employment, and social participation in the community. This project provides one-to-one support to individuals and families, offering encouragement, helping them explore potential, and setting achievable goals.
Through group activities and community events, participants are given opportunities to share experiences, reduce isolation, and develop peer support networks. One-to-one sessions also provide non-formal learning opportunities, such as family-based learning and domestic skills development, helping participants build confidence and function more effectively within the home, as a family, and in the wider community.
Over the past year, 48 families engaged with the project. Feedback highlights improvements in confidence, reduced isolation, and strengthened family relationships, underscoring the project’s vital role in supporting some of the most vulnerable members of the community.
**Page 7**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
## **Better Together/Creative Connections**
Creative Connections is designed to provide a welcoming environment where individuals can explore their creativity, build confidence, and connect with others through artistic expression. The sessions are open to all, regardless of artistic experience, and focus on fostering a sense of community and personal well-being.
- Inclusive Participation: The project is open to everyone in the community, aiming to reduce social isolation and promote mental well-being through creative activities.
- Skill Development: Participants have the opportunity to develop new artistic skills, engage in creative problem-solving, and express themselves in a supportive setting.
- Community Building: By bringing people together, Creative Connections helps strengthen community ties and encourages social interaction among diverse groups.
## **PLANS FOR FUTURE PERIODS**
In the forthcoming financial year, Rosemount Lifelong Learning development will be guided by our Business Development Plan (BDP) which presents a number of key aims and objectives. These aims have been collated by our management team taking on board the views and goals of our staff, partners and community members.
## **Financial Management**
In line with our Business Development Plan (BDP), our financial priorities continue the work from the previous three financial years which include:
## _**Reduce Expenditure**_
During this financial year the Board of Trustees and Senior Management group continued a spending review which prioritised organisational spending using risk and necessity indicators. As a result, significant savings have been made, predominately from the suspension of services (e.g professional services) and redundancies of staff paid via the General Fund.
## _**Increase Core Revenue**_
Alongside reducing expenditure, our focus was to explore methods of increasing core funding to bolster our General Fund and cash reserves to a level which will enable future agility. This included reviewing our nursery/childcare tariffs alongside application of further core grant funding. The tariffs have been increased but core grant funding has remained a challenge.
## **Service Delivery**
Having seen an increase of learning opportunities in response to previous community consultation and engagement, our priority for this period has been to continue our focus on quality and accreditation. During this financial period, RLL has been continued as an approved SQA accredited learning centre. Quality and accreditation continue to be a core focus for RLL and over the forthcoming financial year this will include further accreditation. Following an analysis over the financial year of 2023/24, we have proceeded in 2024/25 with the expansion of our early years learning, building capacity in our baby room and creche facility in line with community demand. A creche is considered the number one barrier to accessing learning whereas the absence of a baby room impacts the thru put of children in early years education and funding.
**Page 8**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
## **PLANS FOR FUTURE PERIODS**
## **Marketing Strategy**
Our continued increase of participation has been credited to the advancement of networking and marketing. During this last financial year, we have utilised a digital media worker who has increased our online presence, created our social media strategy and continually upgrades our organisation literature. During this forthcoming year, we will continue to invest in marketing particularly in our effort to attract an increase of corporate partnerships in an effort to increase core funds and volunteering opportunities.
## **Building Development**
Aside from ongoing maintenance, our building requires constant attention to avoid substantial investment over the coming years. The building requires a new façade, replacement of the building’s cladding with A fire-rated cladding reducing carbonaceous fire risk would see savings of £5,000 in insurance premiums and this will require a focus on capital grant funding in the forthcoming financial period.
## **Strategic Development**
Having previously established a 10-year strategic development plan, the forthcoming financial year will see the senior management team implement the new Business Development Plan (BDP) which was produced this year and will use the strategy plan to schedule key indicators and projects required to maintain trajectory and pace for strategic development.
## **Partnership Working**
Whilst Rosemount Lifelong Learning has a strong network of partnering organisations, we continue to partner with a range of organisations both geographically located in the North Glasgow area and organisations with similar aims of supporting community members to reach their potential through the means of learning and support to learning. Our focus for partnership working over this forthcoming period is to continue to explore new networking opportunities whilst strengthening existing relationships at both operational and strategic levels.
## **Environmental & (GEO) political**
Whilst environmental and political factors are generally out with the control of RLL, it is our intention to remain conscious to contemporary environmental and political factors that can have a significant impact. The analysis of environmental and political factors are routinely discussed at management meetings.
## **FINANCIAL REVIEW**
Rosemount Lifelong Learning remains committed to providing value-for money, effective and efficient services and operational activity for the benefit of the people and communities of north Glasgow. The charity is committed to the highest standards of financial management and governance to ensure that it delivers excellent value for money and maximises the impact of the programmes it runs upon the communities it serves.
Rosemount Lifelong Learning’s financial statements for the year ended 31 March 2025 are showing a deficit of £51,348 (2024: £82,748 deficit). Of this total £54,916 (2023: £53,974) relates to non-cash depreciation charges in respect of assets purchased by the charity in previous years including the Learning and Event space – a community facility funded by the Big Lottery. The operating surplus was £3,568 (2024: £28,744 deficit); an overall deficit of £51,348 adding back depreciation of £54,916.
**Page 9**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
## **FINANCIAL REVIEW**
## _**Going Concern**_
The Trustees have considered the applicability of the going concern basis in preparing the financial statements. At the balance sheet date, the Charity held minimal unrestricted reserves. The Trustees recognise that this position, combined with the timing uncertainty of income receipts and in particularly grant funding, gives rise to material uncertainty in relation to short-term cash flow management.
The Trustees have prepared detailed cash flow forecasts covering a period of not less than twelve months from the date of approval of these financial statements. These forecasts take into account committed expenditure, anticipated nursery income based on current occupancy levels and confirmed waiting list demand and expected receipts from grant funding applications currently submitted. The Charity continues to experience strong demand for its nursery provision, with a healthy waiting list providing reasonable assurance of sustained earned income in the forthcoming financial period. In addition, a new Business Manager post has recently been filled, strengthening the Charity’s capacity to diversify and increase voluntary income streams. The Charity also maintains an active and robust pipeline of grant funding applications, several of which are at advanced stages of assessment.
The Trustees have identified a range of mitigating actions available to them should anticipated income be delayed or reduced, including the deferral of non-essential expenditure and close monitoring of staffing and operational costs.
While the above factors provide confidence in the Charity’s medium-term sustainability, the level of unrestricted reserves and the inherent uncertainty around the timing and success of grant income represent a material uncertainty that may cast significant doubt on the Charity’s ability to continue as a going concern. Nevertheless, having considered the forecasts, sensitivities and available mitigating actions, the Trustees believe it is appropriate to prepare the financial statements on a going concern basis.
## _**Risks and Mitigating Factors**_
Rosemount Lifelong Learning receives funding through several grant funders enabling us to provide a range of our activities. At the end of this financial year, we can report that many project staffing positions are secured by multi-year funding providing project stability however the impact of rising energy costs, the rising cost of employment costs and increased project/material costs has again provided a challenge in covering costs through traditional means.
## _**Investment Policy**_
Aside from retaining a prudent amount in reserves each year, most of the charity’s funds are to be spent in the short term so there are few funds for long term investment.
## _**Reserve’s Policy**_
The Board of Directors has examined the charity’s requirements for reserves in the light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between six and nine months of general expenditure. The present level of general reserves held by Rosemount Lifelong Learning is £9,334 (2024: £4,582), this falls within the lower range of reserves needed to meet the working capital requirements of the charity. However, the Board of Trustees are confident that with the Business Development Plan currently in use by management, along with the projection of income from grant funding confirmed and in the pipeline, the charity will be able to continue its current level of activities for the foreseeable future.
**Page 10**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The organisation is a company limited by guarantee, incorporated on 14 October 1998 and registered as a charity with the Inland Revenue on 28 October 1998. The company was established under a Memorandum and Articles which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
## **Recruitment and Appointment of Trustees**
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as Member Directors. Under the requirements of the Memorandum and Articles of Association the Member Directors are elected at an Annual General Meeting from members of Rosemount Lifelong Learning. Membership is open to residents of Glasgow. At each Annual General Meeting, the two Member Directors who have been longest appointed stand down and may then put themselves forward for re-election. Non-members may be appointed as Appointed Directors.
## **Trustee Induction and Training**
All Trustees receive an information pack which includes the policies and procedures of the organisation including its mission and aims, the historical background of the organisation, its resourcing and the current financial position as set out in the latest audited accounts and Business Development Plan (BDP) and the findings of external evaluations. Training events are provided for Trustees explaining the rights and responsibilities of Directors.
## **Organisational Structure**
The members of Rosemount Lifelong Learning’s Board of Directors meet quarterly. The Chief Executive and the Company Secretary also attend the meetings but have no voting rights. The Finance, HR and Strategy Planning sub committees of the Board of Directors meet regularly to discuss specific strategic. HR and finance related issues.
## **Setting Pay and Remuneration**
Setting the pay of the charity’s key personnel is the responsibility of the full Board of Directors. It is the responsibility of the HR subgroup and the Finance subgroup to make recommendations to the full Board about comparable positions in other organisations to ensure that the pay and remuneration of key personnel is appropriate.
## **STATEMENT of TRUSTEES’ RESPONSIBILITIES**
The Trustees (who are also Directors of Rosemount Lifelong Learning for the purposes of company law) 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).
Company law 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 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 these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP FRS 102;
- make judgements and estimates that are reasonable and prudent;
**Page 11**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning**
## **Trustees’ Annual Report For the year ended 31 March 2025**
## **STATEMENT of TRUSTEES’ RESPONSIBILITIES (cont…)**
- state whether applicable UK Accounting Standards have been followed.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 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.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Auditor**
A resolution proposing that Wbg (Audit) Limited, be reappointed as auditor of the charitable company will be put to the Annual General Meeting.
## **Disclosure of information to auditor**
Each of the Directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
5th March 2026
This report was approved by the Trustees on ………………………….. and signed on their behalf by:
DocuSigned by:
21087E19A38F 49D... **Elizabeth Wilson Chair/Trustee**
**Page 12**
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## **Independent Auditor’s Report to the Trustees and Members of Rosemount Lifelong Learning**
## **Opinion**
We have audited the financial statements of Rosemount Lifelong Learning (the ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities (including and income and expenditure account), the Balance Sheet, the Cashflow Statement and notes to the financial statements, including 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:
- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006, 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 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.
## **Material Uncertainty relating to Going Concern**
We draw attention to the going concern accounting policy included within note 1.1 of the financial statements, which explains the charitable company’s uncertainty around the timing of receipt of grant income. As stated in note 1.1, these events or conditions, along with other matters as set forth in Note 1.1, indicate that a material uncertainty exists that may cast significant doubt on the charitable company’s ability to continue as a going concern.
Our opinion is not modified in this respect.
## **Other information**
The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.
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## **Other information (cont…)**
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.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees' report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report included within the trustees' report has been prepared in accordance with applicable legal requirements.
## **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 directors’ report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:
- adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit **.**
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement set out on pages 11 and 12, the trustees (who are also the directors of the charitable company for the purposes of company law) 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.
## **Auditor 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 under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
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## **Auditor responsibilities for the audit of the financial statements (cont…)**
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:
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, responding appropriately to fraud or suspected fraud identified during the audit process. This includes obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. The primary responsibility however for the prevention and detection of fraud rests with those charged with governance.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:
- The nature of the charitable company, the environment in which it operates and the control procedures implemented by management and the trustees; and
- Our enquiries of management and trustees about their indentification and assessment of the risks and irregularities.
Based on our understanding of the charitable company and the sector we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to;
- Regulations and legistalition pertinent to the charitable company’s operations; and
We considered the extent to which non-compliance might have a material impact on the financial statements. We also considered those laws and regulations which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006. We evaluated management and trustees’ incentives and opportunities for fraudulent manipulation of then financial statements (including the risk of management override of controls), and determined that the principal risks were related to;
- Posting innapropriate journal entries
## **Audit response to the risks identified**
Our procedures to respond to the risks identified included the following;
- Gaining an understanding of the legal and regulatory framework applicable to the charity and the sector in which it operates;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- Enquiring of management, trustees and legal advisors concerning actual and potential litigation and claims;
- Reading minutes of meetings of those charged with governance;
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## **Audit response to the risks identified (cont…)**
- In addressing the risk of fraud as a result of management override of controls, testing the appropriateness of journal entries and other adjustments; evaluating rationale of any significant transactions that are unusual or outside the normal course of business. We scrutinised the general ledger for the following:
- Duplicate journal entries;
- Unbalanced journal entries; and
- Journals with detail which included key phrases or words.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-thefi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **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 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 charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
_168 Bath Street_ Signed by: Why (ALE) Limited Glasgow …………………………………………………… 2A4E408DA5B14D1... G2 4TP _Alexander Hogg CA, (Senior Statutory Auditor) For and on behalf of Wbg (Audit) Limited, Statutory Auditor_ 5th March 2026 ……..………………………………………….. _Wbg (Audit) Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006._
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
**Rosemount Lifelong Learning Statement of Financial Activities For the year ended 31 March 2025 (incorporating Income and Expenditure Account)**
|**Notes**
**Income from:**
Donations and Legacies
**2**
Income from Charitable Activities
**3**
Investments Income
**4**
**Total**
**Expenditure on:**
Raising Funds
**6**
Charitable Activities
**7**
**Total**
**Net income/(expenditure)**
**10**
**Transfers between funds**
**18**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**General Designated **
**Fund**
**Funds**
**£**
**£**
18,440
-
532,183
-
847
-
551,470
-
(17,715)
-
(529,003)
(8,040)
(546,718)
(8,040)
4,752
(8,040)
-
-
4,752
(8,040)
4,582
69,235
9,334
61,195
**Unrestricted**|**Restricted**
**Funds**
**£**
-
361,042
-
361,042
-
(409,102)
(409,102)
(48,060)
-
(48,060)
433,345
385,285|**2025**
**Total**
**£**
18,440
893,225
847
912,512
(17,715)
(946,145)
(963,860)
(51,348)
-
(51,348)
507,162
455,814|**(Note 23)**
**2024**
**Total**
**£**
62,569
803,682
1,346
867,597
(18,036)
(932,309)
(950,345)
(82,748)
-
(82,748)
589,910
507,162|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Statement of Financial Activities also complies with the requirements for an Income and Expenditure Account under the Companies Act 2006.
**The notes on pages 20 to 33 form an integral part of these financial statements.**
**Page 17**
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**Rosemount Lifelong Learning Balance Sheet As at 31 March 2025**
||||**2025**||**2024**|
|---|---|---|---|---|---|
|**Fixed assets**||**£**|**£**|**£**|**£**|
|Tangible assets|**14**||414,980||469,896|
|**Current assets**|||414,980||469,896|
|Debtors|**15**|79,344||59,322||
|Cash at bank and in hand||77,690||56,406||
|**Creditors: amounts falling**||157,034||115,728||
|**due within one year**|**16**|(116,200)||(78,462)||
|**Net current assets**|||40,834||37,266|
|**Net assets**
**The Funds of the Charity:**|||455,814
———||507,162
———E)|
|Unrestricted funds||||||
|General Fund|**19**||9,334||4,582|
|Designated funds|**20**||61,195||69,235|
|Restricted funds|**21**||385,285||433,345|
|**Total Charity Funds**|||455,814||507,162|
These accounts are prepared in accordance with the special provision of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to the members of the company.
5th March 2026
The financial statements were approved and authorised for issue by the Trustees on …....................... and signed on their behalf by:
(Cho ............................................................. 21087E 19A38F49D.. by: **Elizabeth Wilson Trustee Registered number: SC190521**
**The notes on pages 20 to 33 form an integral part of these financial statements.**
**Page 18**
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## **Rosemount Lifelong Learning Statement of Cash Flows For the year ended 31 March 2025**
|**Notes**
**Cash provided by/(used in) operating activities**
Cash generated from/(absorbed by) operations
**22**
**Net increase/(decrease) in cash and cash equivalents**
**Cash and cash equivalents at beginning of the year**
**Cash and cash equivalents at end of the year**|**2025**
**£**
21,284
21,284
56,406
77,690|**2024**
**£**
(42,399)
(42,399)
98,805
56,406|
|---|---|---|
**The notes on pages 20 to 33 form an integral part of these financial statements.**
**Page 19**
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## **Rosemount Lifelong Learning (a company limited by guarantee)**
## **Notes to the Financial Statements For the year ended 31 March 2025**
## **1. Accounting Policies**
## **Charity Information**
Rosemount Lifelong Learning is a company limited by guarantee and incorporated in Scotland. The registered office address (and principal place of business) is 102 Royston Road, Glasgow G21 2NU.
## **1.1. Accounting Convention**
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, the Companies Act 2006 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 for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2. Going Concern**
The Trustees have assessed the Charity’s ability to continue as a going concern and have prepared cash flow forecasts covering a period of at least twelve months from the date of approval of these financial statements. The Charity holds limited unrestricted reserves and there is uncertainty regarding the timing and receipt of grant income, which gives rise to a material uncertainty that may cast significant doubt on the Charity’s ability to continue as a going concern. The forecasts reflect anticipated nursery income based on current occupancy levels and demand, together with expected grant funding, and include consideration of mitigating actions available to the Trustees, such as the deferral of non-essential expenditure and close monitoring of costs. Having considered these factors, the Trustees believe it remains appropriate to prepare the financial statements on a going concern basis.
## **1.3. Fund Accounting**
Funds are classified as either Restricted Funds or Unrestricted Funds, defined as follows:
_**Restricted Funds**_ are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity.
_**Unrestricted Funds**_ are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of the Unrestricted Funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees’ discretion to apply the fund.
## **1.4. Income Recognition**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
**Page 20**
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## **Rosemount Lifelong Learning (a company limited by guarantee)**
## **Notes to the Financial Statements For the year ended 31 March 2025**
## **1.5. Donations and Legacies**
Donations are recognised when the charity has evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Entitlement usually arises immediately upon receipt, however, in the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Legacy gifts must be recognised when it is probable that it will be received. This is normally following the granting of confirmation, when the administrator/executor of the estate has communicated in writing both the amount and settlement date and any conditions attached to the legacy are either within the control of the charity or have been met. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
## **1.6. Grants Receivable**
Income from government and other grants, whether ‘capital’ or ‘revenue’ in nature, are recognised when the charity has unconditional entitlement to the funds, it is probable that the income will be received, the amount can be measured reliably. Unconditional entitlement will be achieved one any performance or other conditions attached to the grants have been met, or fulfilment of those conditions is wholly within the control of the charity. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the Balance Sheet as deferred income to be released.
## **1.7. Gift Aid**
Income tax recoverable on Gift Aid donations is recognised when the respective donation has been recognised and the recoverable amount of income tax can be measured reliably; this is normally when the donor has completed the relevant Gift Aid Declaration form. Income tax recoverable on Gift Aid donations is allocated to the same fund as the respective donation unless specified by the donor.
## **1.8. Income from Charitable Activities**
Income from charitable activities includes income earned both from the supply of goods or services under contractual arrangements and from performance-related grants which have conditions that specify the provision of particular goods or services to be provided by the charity. Income from charitable activities is recognised as earned (as the related goods or services are provided).
## **1.9. Income from Other Trading Activities**
Income from other trading activities includes income earned from both trading activities to raise funds for the charity and income from fundraising events and is recognised when the charity has entitlement to the funds, it is probable that these will be received and the amounts can be measured reliably.
## **1.10. Investment Income**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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## **Rosemount Lifelong Learning (a company limited by guarantee)**
## **Notes to the Financial Statements For the year ended 31 March 2025**
## **1.11. Other Income**
Other income represents income that cannot be reported under the other analysis headings provided within the Statement of Financial Activities and is recognised when the charity is entitled to the income, it is probable that it will be received and the amount can be measured reliably by the charity.
## **1.12. Donated Services and Facilities**
Donated services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **1.13. Expenditure Recognition**
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 settlement will be required and the amount of the obligation can be measured or estimated reliably.
Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. The exception is that certain financial instruments must be adjusted to their present value; these include financial liabilities where settlement is deferred for more than 12 months after the reporting date.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. Further information on the basis of allocation is provided below.
## **1.14. Expenditure on Raising Funds**
Expenditure on raising funds includes all expenditure incurred by a charity to raise funds for its charitable purposes. It includes the costs of all fundraising activities and events together with those costs incurred in seeking donations, grants and legacies.
## **1.15. Expenditure on Charitable Activities**
Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. The costs of charitable activities presented in the Statement of Financial Activities includes the costs of direct service provision.
## **1.16. Support Costs**
Support costs are incurred supporting the charity’s activities and include expenditure associated with administrative and finance functions, business support, HR, IT and governance. These support functions are shared across the charity’s activities and are apportioned across those activities in order to arrive at the full cost for each reported activity. The method of apportionment adopted by the charity is outlined in the Notes to the financial statements.
**Page 22**
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## **Rosemount Lifelong Learning (a company limited by guarantee)**
## **Notes to the Financial Statements For the year ended 31 March 2025**
## **1.17. Governance Costs**
Governance costs (which are included as a component of support costs in accordance with SORP) comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include those related to constitutional and statutory requirements, external scrutiny (audit or independent examination), strategic management, and other legal and professional fees.
## **1.18. Activity Based Reporting**
To comply fully with the Statement of Recommended Practice, the Trustees are required to split income and expenditure by activity. The Trustees are of the opinion that the charity operates through one activity.
## **1.19. 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 with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
## **1.20.Tangible Fixed Assets and Depreciation**
Fixed assets costing less than £1,000 per individual item are written off within the Statement of Financial Activities in the year of acquisition.
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold Property - Over the term of the lease. Computer Equipment - 25% straight-line method. Fixtures & Fittings - 25% reducing balance method.
## **1.21. 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).
## **1.22. Debtors**
Debtors are measured at their recoverable amounts, being the amount the charity anticipates it will received in settlement of the debt (net of any discounts offered and provision against bad debt). Prepayments are valued at the amount prepaid at the reporting date.
## **1.23. Irrecoverable VAT**
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
## **1.24. Cash and Cash Equivalents**
Cash at bank and in hand includes all cash equivalents held in the form of 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.
**Page 23**
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## **Rosemount Lifelong Learning (a company limited by guarantee)**
## **Notes to the Financial Statements For the year ended 31 March 2025**
## **1.25. Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of economic benefit - generally in the form of a cash payment - to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. If there is an unconditional right to defer payment for more than 12 months from the reporting date then they are presented as non-current liabilities.
## **1.26 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.
## **1.27 Retirement Benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.28. Operating Leases**
Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.
## **1.29 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.
## _**Depreciation of fixed assets**_
Fixed assets are depreciated over the useful life of the assets. The useful life of the fixed assets are based on the knowledge of senior management, with reference to the assets expected life cycle.
## _**Bad debt provision**_
Trade debtors are reviewed by appropriate experienced senior management on a case by case basis with the balance outstanding and the ageing of the debtor taken into consideration.
## _**Going-Concern**_
The Trustees regularly review budgets, cash-flows and income and expenditure projections on a rolling 18-month basis to ensure the charity can meet its financial obligations and report on a going concern basis. See Note 1.2 for further details.
**Page 24**
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## **Rosemount Lifelong Learning Notes to the Financial Statements For the year ended 31 March 2025**
|**2. **|**Donations and Legacies**|**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2025**|**2024**|
|||**£**|**£**|**£**|**£**|
||Donations|4,067|-|4,067|16,735|
||Grants|14,373|-|14,373|40,834|
||Donated services and equipment (Note 2.1)|-|-|-|5,000|
|||18,440|-|18,440|62,569|
||Donations|**Unrestricted**
**Funds**
**£**
16,735|**Restricted**
**Funds**
**£**
-|**Total**
**2024**
**£**
16,735|**Total**
**2023**
**£**
7,620|
||Grants|26,834|14,000|40,834|9,983|
||Donated services and equipment (Note 2.1)|5,000|-|5,000|10,000|
|||48,569|14,000|62,569|27,603|
|**2.1 **|**Donated services and facilities**|||**2025**|**2024**|
||Donated IT equipment|||**Total**
**£**
-|**Total**
**£**
5,000|
|||||-|5,000|
||The charity benefits greatly from the involvement and enthusiastic support of its many volunteers. In||||accordance with|
||accounting standards, the economic contribution of general volunteers is not measured in the accounts.|||||
|**3. Income from Charitable Activities**
Social care & Community regeneration
Social care & Community regeneration
**4. Investment Income**
Interest on cash deposits
Interest on cash deposits|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2025**
**£**
**£**
**£**
532,183
361,042
893,225
532,183
361,042
893,225
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2024**
**£**
**£**
**£**
422,540
381,142
803,682
422,540
381,142
803,682
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2025**
**£**
**£**
**£**
847
-
847
847
-
847
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2024**
**£**
**£**
**£**
1,346
-
1,346
1,346
-
1,346|**Total**
**2024**
**£**
803,682
803,682
**Total**
**2023**
**£**
725,766
725,766
**Total**
**2024**
£
1,346
1,346
**Total**
**2023**
£
-
-|
|---|---|---|
Investment income was earned from the charity's cash deposits.
All investment income is derived from assets held within the UK.
**Page 25**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning Notes to the Financial Statements For the year ended 31 March 2025**
|**5. Government Grants**
Glasgow City Council
Scottish Government
Big Lottery Funding|**Total**
**2025**
**£**
540,400
69,146
70,880
680,426|**Total**
**2024**
**£**
521,793
69,146
60,880
651,819|
|---|---|---|
Glasgow City Council funding represents funds received and expended as part of the Communities Fund and HSCP funding.
Scottish Government funding is received towards the People & Communities Fund.
Big Lottery funding is received in relation to Our Place & Young Start projects.
|**6. Raising Funds**
Staff costs
Activities
Governance costs (Note 8)
Support costs (Note 9)|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2025**
**£**
**£**
**£**
14,384
-
14,384
651
-
651
487
-
487
2,193
-
2,193
17,715
-
17,715|**Total**
**2024**
**£**
15,200
-
574
2,262
18,036|
|---|---|---|
|Staff costs
Governance costs (Note 8)
Support costs (Note 9)
**7. Charitable activities**
Staff costs
Educational costs
Property costs
Depreciation
Loss on disposal of fixed assets
Governance costs (Note 8)
Support costs (Note 9)|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2024**
**£**
**£**
**£**
15,200
-
15,200
574
-
574
2,262
-
2,262
18,036
-
18,036
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2025**
**£**
**£**
**£**
310,579
297,284
607,863
64,217
27,380
91,597
89,901
11,843
101,744
8,040
46,876
54,916
-
-
-
6,263
3,000
9,263
58,043
22,719
80,762
537,043
409,102
946,145|**Total**
**2023**
**£**
24,167
374
3,889
28,430
**Total**
**2024**
**£**
595,640
70,438
122,740
53,974
1,343
10,920
77,253
932,309|
|---|---|---|
**Page 26**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning Notes to the Financial Statements For the year ended 31 March 2025**
|**7. Charitable activities (cont…)**
Staff costs
Educational costs
Property costs
Depreciation
Loss on disposal of fixed assets
Governance costs (Note 8)
Support costs (Note 9)
**8. Governance costs**
Audit - current year
Audit - previous year
Other governance expenses
Raising funds
Charitable activities
**9. Support costs**
Staff costs
Advertising and marketing
Printing, postage and stationery
Telephone and broadband
IT equipment and software
IT consultancy
Equipment leasing
Professional fees
Subscriptions
General expenses
Bank interest and charges
Raising funds
Charitable activities|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2024**
**£**
**£**
**£**
279,938
315,702
595,640
42,715
27,723
70,438
97,140
25,600
122,740
7,098
46,876
53,974
1,343
-
1,343
7,920
3,000
10,920
49,342
27,911
77,253
485,496
446,812
932,309
**2025**
**£**
8,820
330
600
9,750
487
9,263
9,750
**2025**
**£**
24,911
388
2,260
4,924
5,604
5,867
4,072
30,069
1,980
873
2,007
82,955
2,193
80,762
82,955|**Total**
**2023**
**£**
582,926
46,255
91,642
54,019
2,556
7,100
80,941
865,439
**2024**
**£**
8,500
2,994
-
11,494
574
10,920
11,494
**2024**
**£**
24,192
1,364
3,298
6,933
3,149
6,327
4,337
26,716
1,179
393
1,627
79,515
2,262
77,253
79,515|
|---|---|---|
**Page 27**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning Notes to the Financial Statements For the year ended 31 March 2025**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|10.|Net income / (expenditure) for the year|2025|2024|
|£|£|
|Net income / (expenditure) for the year is stated after charging:|
|Depreciation and other amounts written off tangible assets|54,916|53,974|
|Loss on disposal of fixed assets|-|1,343|
|Auditor's remuneration - current year (Note 10.1)|8,820|8,500|
|Auditor's remuneration - previous year (Note 10.1)|330|2,994|
**----- End of picture text -----**
## **10.1 Auditor's remuneration**
Auditor's remuneration of £9,150 represents the current annual audit fee of £8,820 and an under accrual from the previous year of £330
## **11. Employees**
## **Number of employees**
**----- Start of picture text -----**
||||
|---|---|---|
|The average monthly number of employees by headcount during the year was:|2025|2024|
|Number|Number|
|32|35|
**----- End of picture text -----**
All employees were involved in either the direct delivery or support of the charity's activities or its governance.
**----- Start of picture text -----**
||||
|---|---|---|
|Employment costs|2025|2024|
|£|£|
|Wages and salaries|569,130|566,387|
|Social security costs|35,989|33,427|
|Employer contributions to pension scheme|32,012|29,535|
|637,131|629,349|
**----- End of picture text -----**
There were no employees who received remuneration of over £60,000 in the year.
## **Key management personnel**
The total employee benefits of the key management personnel during the year amounted to £137,380 (2024 - £134,953). The key management personnel are shown on page 1.
## **Redundancies**
The total amount paid in relation to staff redundancies in the year to 31 March 2025 was £ nil (2024: £7,889).
## **12. Trustees' remuneration and expenses**
No Trustee or any persons connected to them received remuneration or reimbursed expenses during the year. See
## **13. Pension costs**
The pension charge represents contributions due from the charity and amounted to £32,012 (2024 - £29,535). At the year end, there were outstanding contributions amounting to £5,607 (2024 - £ Nil).
**Page 28**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning Notes to the Financial Statements For the year ended 31 March 2025**
|**14. Tangible fixed assets**
**Cost**
As at 1 April 2024
As at 31 March 2025
**Depreciation**
As at 1 April 2024
Charge for year
As at 31 March 2025
**Net book values**
As at 31 March 2025
As at 31 March 2024
**15. Debtors**
Trade debtors
Other debtors
Prepayments and accrued income
**16. Creditors: amounts falling due within one year**
Trade creditors
Other creditors
**17. Analysis of net assets between funds**
Fund balances at 31 March 2025 as represented by:
Tangible fixed assets
Current assets
Current liabilities
Fund balances at 31 March 2024 as represented by:
Tangible fixed assets
Current assets
Current liabilities|**Leasehold**
**Office**
**Property**
**Equipment**
**£**
**£**
1,319,341
39,207
1,319,341
39,207
867,426
21,226
46,876
8,040
914,302
29,266
405,039
9,941
451,915
17,981
**2025**
**£**
15,439
2,717
61,188
79,344
**2025**
**£**
6,589
109,611
116,200
**General**
**Designated**
**Restricted**
**Fund**
**Funds**
**Funds**
**£**
**£**
**£**
-
61,195
353,785
125,534
-
31,500
(116,200)
-
-
9,334
61,195
385,285
-
69,235
400,661
83,044
-
32,684
(78,462)
-
-
4,582
69,235
433,345|**Total**
**£**
1,358,548
1,358,548
888,652
54,916
943,568
414,980
469,896
**2024**
**£**
21,319
4,793
33,210
59,322
**2024**
**£**
7,630
70,832
78,462
**Total**
**Funds**
**£**
414,980
157,034
(116,200)
455,814
469,896
115,728
(78,462)
507,162|
|---|---|---|
**Page 29**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning Notes to the Financial Statements For the year ended 31 March 2025**
|**18. Fund transfers**
**General**
**Designated**
**Fund**
**Funds**
**2025 Transfers**
**£**
**£**
Funds released to General Fund to cover previous year's costs.
-
-
Transfer of asset movements in the Designated Assets Fund.
-
-
-
-
**General**
**Designated**
**Fund**
**Funds**
**2024 Transfers**
**£**
**£**
Funds released to General Fund to cover previous year's costs.
1,442
-
Transfer of asset movements in the Designated Assets Fund.
(5,000)
5,000
(3,558)
5,000
**19. Unrestricted funds**
**1 Apr 2024**
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
**£**
General Fund
4,582
551,470
(546,718)
-|**Restricted**
**Funds**
**£**
-
-
-
**Restricted**
**Funds**
**£**
(1,442)
-
(1,442)
**31 Mar 2025**
**£**
9,334|
|---|---|
## **Purposes of General Fund**
The General Fund encompasses all income and expenditure relating to the primary activities of the charity, other than those for which funding is restricted or designated.
|**20. Unrestricted designated funds**
Fixed Assets Fund
Fixed Assets Fund|**1 Apr 2024**
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
**£**
69,235
-
(8,040)
-
69,235
-
(8,040)
-
**1 April 2023**
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
**£**
72,676
-
(8,441)
5,000
72,676
-
(8,441)
5,000|**31 Mar 2025**
**£**
61,195
61,195
**31 Mar 2024**
**£**
69,235
69,235|
|---|---|---|
## **Purposes of Designated Funds**
## _**Fixed Assets Fund**_
The Assets Fund represents the net book value of unrestricted funds tied up in fixed assets, which would not readily be convertible into cash.
**Page 30**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
## **Rosemount Lifelong Learning Notes to the Financial Statements For the year ended 31 March 2025**
|**21. Restricted funds**
**_Revenue_**
Glasgow Communities Fund
Young Start
Corra Families
GCVS Wellbeing
SCVO Digibite
Virgin Money Foundation
Big Lottery - Awards For All
**_Capital_**
Big Lottery - Our Place
**_Revenue_**
Glasgow Communities Fund
Robertson Trust
Glasgow Families Together
Big Lottery - Young Start
SCVO - Digibite
Corra Families
NHS GG&C
GCVS Wellbeing
The Clothworkers Fund
Virgin Money Foundation
Big Lottery - Awards For All
**_Capital_**
Big Lottery - Our Place|**1 Apr 2024**
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
**£**
-
186,816
(186,816)
-
9,440
50,880
(60,320)
-
-
69,146
(69,146)
-
9,800
10,000
(9,800)
-
6,655
-
(6,655)
-
-
24,200
(18,699)
-
6,790
20,000
(10,790)
-
400,660
-
(46,876)
-
433,345
361,042
(409,102)
-
**1 Apr 2023**
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
**£**
-
186,816
(186,816)
-
-
28,500
(28,500)
-
1,442
-
-
(1,442)
9,081
58,880
(58,521)
-
-
10,000
(3,345)
-
6,398
69,146
(75,544)
-
8,000
(8,000)
-
9,800
-
-
-
14,000
(14,000)
-
22,000
-
(22,000)
-
-
10,000
(3,210)
-
447,536
-
(46,876)
-
486,457
395,142
(446,812)
(1,442)|**31 Mar 2025**
**£**
-
-
-
10,000
-
5,501
16,000
353,784
385,285
**31 Mar 2024**
**£**
-
-
-
9,440
6,655
-
-
9,800
-
-
6,790
400,660
433,345|
|---|---|---|
## **Purposes of Restricted funds**
## _**Glasgow Communities Fund**_
Funds received from Glasgow City Council to contribute to the costs of the charity's various community based services.
## _**The Robertson Trust**_
Funds received to support the development and delivery of the charity's community learning services.
## _**Young Start**_
Funds received from Big Lottery and GCVS to cover the costs of a project providing support services to young parents aged between 16-25 in Glasgow.
## _**Corra Families**_
Funds received to support a project delivering support services to children, young people and families affected by substance misuse.
## _**Virgin Money**_
Funds received from Virgin Money Foundation's Anchor Fund to help cover costs from our community projects.
**Page 31**
Docusign Envelope ID: 4AAE2CED-FE2C-422B-A7CC-D46077D9C4D0
**Rosemount Lifelong Learning Notes to the Financial Statements For the year ended 31 March 2025**
## **21. Restricted funds (cont…)**
## **Purposes of Restricted funds**
## _**Big Lottery - Awards For All**_
Funds received from the Big Lottery to support our digital learning projects.
## _**Big Lottery - Our Place**_
Funds received from the Big Lottery to construct the Rosemount Leaning Centre.
## **GCVS Wellbeing**
Funds received from GCVS to support the Better Together Project, focussing on the improvement of the community's mental wellbeing.
## **SCVO Digibite**
Funds received from SCVO to support a project delivering informal digital learning to families.
## **The Clothworkers Fund**
Funds received from The Clothworkers to fund the renovation of the charity's learning spaces.
|**22. Cash generated from operations**
**Net (expenditure) for year**
**_Adjustments for:_**
Add depreciation charges
Add loss on asset disposal
Deduct donated assets
**_Movements in working capital:_**
(Increase) in debtors
Increase in creditors
**Cash generated / (absorbed) by operations**|**2025**
**£**
(51,348)
54,916
-
-
(20,022)
37,738
21,284|**2024**
**£**
(82,748)
53,974
1,342
(5,000)
(10,572)
605
(42,399)|
|---|---|---|
**Page 32**