Charity number: SC031515
The Scarborough Group Foundation
Annual report
For the year ended 31 March 2025
The Scarborough Group Foundation Legal and administrative information For the year ended 31 March 2025
Trust Deed
11 April 2001
Bankers The Bank of Scotland The Mound Edinburgh EH1 1YZ Auditor Parsons Accountants Ltd Unit 2 Silkwood Park Fryers Way Ossett WF5 9TJ Charity Registration Number SC031515
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D(Kusn Enveky ID. 7943EF640EAll3AF84EID The Scarborough Group Foundation Report of the Trustees For the year ended 31 March 2025 The Trustees have pleasure in presenting their Report and the consolidated financial statements of the Charity and its wholly owned subsidiary Scarborough GF knmited forthe year ended 31 March 2025. Governing Document The Scarborough Group Foundation {previously known as The White House Charitable Trust) {"the Foundation") was established under a Deed of Trust signed on 11 April 2CKJI by It is recognised as a charrty by HM Revenue and Customs for the purposes of Section 505 of the Income and Corporation Taxes Act 1988.lts governing instrument is the Deed of Trust which establishes the objects and powers of the Foundation. In the event of the Foundation being wound up members are not required to contribute any amounts. The Foundation changed its name to The Scarborough Group Foundation on 17 March 2008. Recruitment and Appointment of Trustees The appointment of newTrustees vests in hroughout his lifetime. In the event of the death r in the event of his no longer having the capacity to exercise this power, the power to appoint new Trustees passes to On the death of he appointment of new Trustees vests with the remaining Trustees in office at that time. Trustees who served during the year The followin Trustees served during the year- Trustee Inductlon and Tralnlng The current Trustees represent a spectrum of age and experience. There are no current intentions of changing Trustees or appointing others. If this should change, new appointees will be provided with a detailed file of information covering topics such as the responsibilities of Trustees and the history, activities and operations of the Charity. Trustees have full access to current information on the principles of effective governance. Rlsk Management The Trustees consider the risks adhering to the Charity at their Trustee meetings and put in place appropriate policies to mitigate such risks. As the Charrty has substantial cash reserves and low governance costs and limited financial commitments, there is very Irttle risk regarding the continuance of the Charty. The Trustees consider that the nature of the Chariws investments means that there is little risk of any significant loss in the value of its assets and they are always conscious of the need to spread investment risk when considering new investments. The Trustees monitor the level of investment income when awarding grants. Related Partles Transactions with related parties are disclosed in notes 2, 3, 4, 8, and 9 of the financial statements.
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The Scarborough Group Foundation Report of the Trustees (continued)
For the year ended 31 March 2025
Objectives and Activities
Under the terms of the Deed of Trust, the Trustees have broad powers to apply both income and capital for general charitable purposes. All funds are unrestricted. There have been no changes in the objectives since the last annual report.
The main activities of the Charity involve receiving donations and income from its investments and making charitable grants.
Review of Activities
The Trustees have identified suitable causes to which support can be given by way of grants. During the year grants totalling £86,550 (2024: £56,692) were made to twenty-three such causes.
Financial Review
The financial statements include the results of the Foundation and its wholly owned subsidiary, Scarborough GF Limited.
Total unrestricted funds for the group increased by £60,312, from £4,489,316 as at 31 March 2024 to £4,549,628 as at 31 March 2025.
Investment income for the Charity amounted to £187,996 (2024: £176,908) and the costs of raising funds amounted to £36,255 (2024: £32,998).
Income from the subsidiary company’s investment activities net of costs amounted to £20,727 (2024: £26,407).
During the year the Trustees awarded grants totalling £86,550 to worthwhile causes.
Principal Funding Sources
The principal funding sources in the year have been income arising from assets held.
Investment Policy and Performance
Rental income of £72,738 (2024: £64,127) was received in the year in respect of four investment properties, one of which was acquired by the Foundation from a related party in the previous year. All properties are rented to third parties. The Trustees assessed the value of the properties at the year end and deem the valuation to remain reasonable.
Interest of £18,166 (2024: £10,389) was received on funds held in bank accounts and investment income of £43,553 (2024: £35,068 ) was received on the Foundation’s managed investment portfolios. There was an unrealised gain of £36,257 on the investment portfolios during the year (2024: gain of £116,870) due to movements in the market value of the underlying investments.
Three properties which were owned by the subsidiary were rented to third parties and they generated a net profit of £21,683 (2024: £28,766) in the year. All three properties were sold prior to the year end. No gain or loss was made on the disposal because the properties were revalued to reflect their sales price in the previous financial year.
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The Scarborough Group Foundation Report of the Trustees (continued)
For the year ended 31 March 2025
Plans for Future Periods
Since the year end, four investment properties have been purchased by the Foundation to generate rental income, as disclosed in note 14. The Foundation plans to give further grants in the coming year out of income from assets held.
Reserves Policy
The Trustees’ policy has previously been to retain funds gifted to the Foundation as capital and use the income generated from this capital to fund grants to worthwhile causes. In light of difficult financial climate at present, which is causing financial difficulties for many charities, the Trustees have decided not to restrict donations to just income at present. At the year-end approximately 27.3% (2024: 8.5%) of funds are held as cash. The large increase in cash balance was due to the sale of the subsidiary’s properties.
In recent years the Trustees have invested £1,750,000 in an investment portfolio and acquired investment properties to try to safeguard the Foundation’s assets against capital erosion due to the high rates of inflation. The Trustees are looking to invest more into investment properties in the near future.
Grant-making Policy
The Trustees are responsible for identifying worthwhile causes, the support of which meet the criteria of the Foundation. The Trustees meet on an ad hoc basis during the year to consider and approve the making of grants.
Trustees’ R esponsibilities Statement
Law applicable to charities in Scotland requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the surplus or deficit of the Foundation for that period. In preparing those financial statements the Trustees have:
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selected suitable accounting policies and applied them consistently;
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made judgements and estimates that are reasonable and prudent;
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stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Foundation will continue in operation).
The Trustees have overall responsibility for ensuring that the Foundation has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Statement of Recommended Practice: Accounting and Reporting by Charities. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (2015).
This report was approved by the Trustees on 24 November 2025 and signed on their behalf by
Trustee
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The Scarborough Group Foundation
Independent auditor’s report to the trustees of The Scarborough Group Foundation
Opinion
We have audited the financial statements of The Scarborough Group Foundation (the ‘charity’) and its subsidiary (the ’group’) for the year ended 31 March 2025 which comprise the group’s Statement of Financial Activities, the group’s and the charity’s Balance Sheets, the group’s and the charity’s Cash Flow Statements and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards , including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounti ng Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the group and the chari ty’s affairs as at 31 March 202 5 and of the group’s income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethica l Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the T rustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. T he Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
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The Scarborough Group Foundation
Independent auditor ’ s report to the trustees of The Scarborough Group Foundation (continued)
Other information ( continued)
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Tr ustees’ Report.
We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion:
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the information given in the trustees’ report is incons istent in any material respect with the financial statements; or
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proper accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Trustees’ Responsibilities Statement set out on page 4, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005, and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
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The Scarborough Group Foundation
Independent auditor ’ s report to the trustees of The Scarborough Group Foundation (continued)
Auditor’s responsibilities for the audit of the financial statements (continued)
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. Based on our understanding of the charity and its activities, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Accounts Scotland Regulations 2006 (as amended), and the Charities Statement of Recommended Practice, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements.
We evaluated the T rustees’ and management’s incentives and opport unities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates.
Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:
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Discussing with the Trustees and management their policies and procedures regarding compliance with laws and regulations;
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Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and
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Considering the risk of acts by the charity which were contrary to applicable laws and regulations, including fraud.
Our audit procedures in relation to fraud included but were not limited to:
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Making enquiries of the Trustees and management on whether they had knowledge of any actual, suspected or alleged fraud;
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Gaining an understanding of the internal controls established to mitigate risks related to fraud;
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Discussing amongst the engagement team the risks of fraud; and
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Addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
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The Scarborough Group Foundation
Independent auditor ’ s report to the trustees of The Scarborough Group Foundation (continued)
Auditor’s responsibilities for the audit of the financial statements (continued)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor’s report.
Use of the audit report
This report is made solely to the charity’s trustees, as a body in accordance with Section 44 (1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Our audit work has been undertaken so that we might state to the chari ty’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Signed:
for and on behalf of Parsons Accountants Ltd Chartered Accountants and Statutory Auditor Unit 2 Silkwood Park Fryers Way Ossett WF5 9TJ
Date: ���� ����
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The Scarborough Group Foundation Consolidated Statement of Financial Activities
(including Consolidated Income and Expenditure Account) For the year ended 31 March 2025
| Note Income from: Donations 3 Investment activities–subsidiary 4 Investment activities–charity 5 Total Income Expenditure on: Raising funds: Subsidiary 4 Charity Charitable activities 6 Total Expenditure NET INCOME / (EXPENDITURE) Other income / (expenditure): Net gain / (loss) on investments Net Movement in funds RECONCILIATION OF FUNDS Accumulated funds at 31 March 2024 12 Accumulated funds at 31 March 2025 12 |
Unrestricted Funds 2025 £ 2,250 30,753 134,457 167,460 10,027 36,255 98,952 145,234 22,226 38,086 60,312 4,489,316 4,549,628 |
Unrestricted Funds 2024 £ - 45,506 109,584 |
|---|---|---|
| 155,090 | ||
| 19,099 32,998 68,245 |
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| 120,342 | ||
| 34,748 119,072 |
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| 153,820 4,335,496 |
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| 4,489,316 |
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The Scarborough Group Foundation Balance Sheets
As at 31 March 2025
| Note FIXED ASSETS Investments 8 CURRENT ASSETS Debtors 9 Cash and cash equivalents 10 CREDITORS: amounts falling due within one year 11 NET CURRENT ASSETS NET ASSETS CHARITY FUNDS Unrestricted Funds 12 TOTAL FUNDS 12 |
Group Group 2025 2024 £ £ 3,318,171 4,116,028 11,012 9,076 1,245,604 386,302 1,256,616 395,378 (25,159) (22,090) 1,231,457 373,288 4,549,628 4,489,316 4,549,628 4,489,316 4,549,628 4,489,316 |
Charity Charity 2025 2024 £ £ 3,318,172 3,247,029 11,012 864,540 1,242,875 383,988 |
|---|---|---|
| 1,253,887 1,248,528 (22,540) (17,962) |
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| 1,231,347 1,230,566 |
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| 4,549,519 4,477,595 |
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| 4,549,519 4,477,595 |
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| 4,549,519 4,477,595 |
The notes on pages 12 to 23 form part of these accounts.
The financial statements were approved by the Trustees on 24 November 2025 and signed on their behalf by
Trustee
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The Scarborough Group Foundation Statements of Cash Flows
For the year ended 31 March 2025
| Note Cash flows from operating activities Net cash used in operating activities 13 Cash flows from investing activities Interest, rent and other investment income Disposal of investment property Disposal of investments Acquisition of investment property Acquisition of investments Net cash provided by investing activities Decrease in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
Group Group 2025 2024 £ £ (143,689) (131,090) 124,039 120,022 869,000 - 9,952 9,473 - (283,612) - - 1,002,991 (154,117) 859,302 (285,207) 386,302 671,509 1,245,604 386,302 |
Charity Charity 2025 2024 £ £ 704,360 (154,290) 144,575 141,840 - - 9,952 9,473 - (283,612) - - |
|---|---|---|
| 154,527 (132,299) |
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| 858,887 (286,589) 383,988 670,577 |
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| 1,242,875 383,988 |
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The Scarborough Group Foundation Notes to the Accounts For the year ended 31 March 2025
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
The charity is a public benefit entity. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" 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) (Charities SORP (FRS 102)) and applicable accounting standards.
The charity is required by the Charities and Trustee Investment (Scotland) Act 2005 and associated Charities Accounts (Scotland) Regulations 2006 to prepare group financial statements.
The financial statements have been prepared on a going concern basis as there are no material uncertainties about the organisation’s ability to continue its operations. The charity has adequate cash reserves and a very low level of fixed expenditure.
1.2 Group financial statements
The financial statements consolidate the results of the charity and its wholly owned subsidiary undertaking, Scarborough GF Limited on a line-by-line basis as though they formed a single entity. Inter-company transactions and balances between group companies are therefore eliminated in full. A summary of the financial performance of the charity is included in note 2.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Foundation and which have not been designated for other purposes.
1.4 Income
All income is included in the Statement of Financial Activities when the Foundation is legally entitled to the income and the amount can be quantified with reasonable accuracy. Details of income from trading activities and income from investment activities are disclosed in notes 4 and 5 respectively.
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
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The Scarborough Group Foundation Notes to the Accounts (continued) For the year ended 31 March 2025
1. ACCOUNTING POLICIES (continued)
1.6 Investments
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
1.7 Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
1.8 Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
1.9 Financial Instruments
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.
1.10 Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
1.11 Judgements and key sources of estimation uncertainty
Other than the value of investment property there were no other material judgements or key sources of estimation uncertainty in the preparation of the financial statements. The Trustees have considered the local housing market conditions when assessing the value of investment property.
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The Scarborough Group Foundation Notes to the Accounts (continued) For the year ended 31 March 2025
2. FINANCIAL PERFORMANCE OF THE FOUNDATION
The Consolidated Statement of Financial Activities includes the results of the Foundation’s wholly owned subsidiary Scarborough GF Limited.
The summary financial performance of the Foundation alone is:
| Income from: Donations Investment income Expenditure on: Raising funds Charitable activities Net income / (expenditure) Other income / (expenditure): Net gain / (loss) on investments Subsidiary loan waiver Net movement in funds for the year Reconciliation of funds: Unrestricted funds brought forward Unrestricted funds carried forward |
2025 £ 2,250 185,746 187,996 (36,255) (98,952) (135,207) 52,789 38,086 (18,951) 71,924 4,477,595 4,549,519 |
2024 £ - 176,908 |
|---|---|---|
| 176,908 (32,998) (68,245) |
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| (101,243) 75,665 194,072 - 269,737 4,207,858 |
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| 4,477,595 |
Investment income includes interest of £51,289 (2024: £67,234) on a loan provided to Scarborough GF Limited. The loan was repaid by the year end except for a balance of £18,951 which was waived by the Foundation.
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The Scarborough Group Foundation Notes to the Accounts (continued) For the year ended 31 March 2025
3. INCOME FROM DONATIONS
Income of £2,250 was received from donations in the current year (2024: £nil), all of which came from related parties donated £765 and £1,485 was donated by Scarborough Management Limited, a company which are directors of.
4. INCOME FROM SUBSIDIARY’S ACTIVITIES
The wholly owned trading subsidiary Scarborough GF Limited is registered in the United Kingdom with company number 09359138. The company was incorporated on 17 December 2014. All the Trustees are Directors of the company.
Scarborough GF Limited owned three residential apartments and two car parking spaces which were rented to third parties. The properties were sold to a third party before the year end at valuation. It is intended that Scarborough GF Limited will acquire new assets in future, as appropriate, when new trading opportunities are identified.
The summary financial performance of the subsidiary alone is shown below.
| Turnover Cost of sales and administration costs Loss on fair value adjustment of investment properties Interest payable to parent charity Loan waiver by parent charity Net loss retained in subsidiary The assets and liabilities of the subsidiary were: Fixed assets Current assets Current liabilities Total net assets Aggregate share capital and reserves |
Year to 31 March 2025 £ 30,753 (10,027) - (51,289) 18,951 (11,612) - 2,729 (2,619) 110 110 |
Year to 31 March 2024 £ 45,506 (19,099) (75,000) (67,324) - |
|---|---|---|
| (115,917) | ||
| 869,000 4,514 (861,792) |
||
| 11,722 | ||
| 11,722 |
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The Scarborough Group Foundation Notes to the Accounts (continued) For the year ended 31 March 2025
5. INCOME FROM INVESTMENT ACTIVITIES
| Interest on deposit accounts Income from managed investment funds Rental and insurance income The income from managed investment funds comprises: Dividends Interest REITS |
2025 £ 18,166 43,553 72,738 134,457 2025 £ 41,473 495 1,585 43,553 |
2024 £ 10,389 35,068 64,127 |
|---|---|---|
| 109,584 | ||
| 2024 £ 33,682 589 797 |
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| 35,068 |
The Trustees are of the opinion that these transactions were on normal commercial terms.
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Notes to the Accounts (continued) For the year ended 31 March 2025
The Scarborough Group Foundation
6. EXPENDITURE ON CHARITABLE ACTIVITIES
| Grants to Institutions |
Governance | & other costs | Total 2025 |
Total 2024 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Grantmaking | |||||
| Alzheimer’s Research UK_(Charity no. 1077089)_ | 5,000 | - | 5,000 | - | |
| Blind Veterans UK_(Charity no. 216227)_ | 1,000 | - | 1,000 | - | |
| Blood Cancer UK_(Charity no. SCO37529)_ | 1,000 | - | 1,000 | - | |
| The Brain Tumour Charity_(Charity no. 1150054)_ | - | - | - | 200 | |
| Breast Cancer Now_(Charity no. 1160558)_ | 5,000 | - | 5,000 | 3,000 | |
| British Wireless for the Blind Fund_(Charity no. SC041582)_ | - | - | - | 500 | |
| Cancer Research UK_(Charity no. 1089464)_ | - | - | - | 250 | |
| Carers Trust_(Charity no. 1145181)_ | 5,000 | - | 5,000 | 3,000 | |
| The Children’s Hospital Charity_(Charity no. 505002)_ | 5,600 | - | 5,600 | - | |
| Circus Starr | 500 | - | 500 | 500 | |
| Coast and Vale Learning Trust | 3,000 | - | 3,000 | - | |
| The Company of Chartered Surveyors Charitable Trust Fund (1992)(Charity no. 1012227) |
- | - | - | 10,000 | |
| The Douglas Bader Foundation (Charity no. 800435) | - | - | - | 5,550 | |
| The Katie Piper Foundation (Charity no. 1133313) | 12,500 | - | 12,500 | - | |
| The King’s Trust_(Charity no. 1079675)_ | 5,000 | - | 5,000 | 5,000 | |
| LandAid_(Charity no. 295157)_ | 250 | - | 250 | 250 | |
| Leeds Hospital Charity_(Charity no. 1170369)_ | 8,000 | - | 8,000 | 5,000 | |
| Legacy Park Limited (re Olympic Legacy fund) | - | - | - | 1,000 | |
| Limbpower_(Charity no. 1180906)_ | 5,000 | - | 5,000 | - | |
| Macmillan Cancer Support_(Charity no. 261017)_ | 250 | - | 250 | - | |
| Martin House Hospice_(Charity No. 517919)_ | - | - | - | 5,000 | |
| Motor Neurone Disease Association_(Charity no. 294354)_ | - | - | - | 2,000 | |
| Murrayfield Wanderers Rugby Trust Foundation_(Charity No. _SC039024) |
- | - | - | 1,000 | |
| The Nick Matthew Foundation_(Charity no. 1212138)_ | 10,000 | - | 10,000 | - | |
| North East Yorkshire World Cup Cricket Legacy, 2019 (WCL) | - | - | - | 500 |
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Notes to the Accounts (continued) For the year ended 31 March 2025
The Scarborough Group Foundation
6. EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
| Grantmaking(continued) Oakleaf Enterprise (Charity No. 1064524) Professional Squash Association Foundation_(Charity no. 1172490) Rackets Cubed The Respite Association(Charity no. 1193232) Saint Catherine’s Hospice Trust(Charity no. 284701) ScarBoccia Scarborough Sea Cadets Scarborough Maritime Heritage Museum(Charity no. 1144532) Scotty’s Little Soldiers(Charity no. 1170528) Seychelles Disaster Fund Seychelles Project Port Glaud St Mark’s Hospital Foundation(Charity no. 1140930) The Stroke Association(Charity no. 211015) Twinning Project West Coast Wheelchair Rugby(Charity no. 1070676) Weston Park Hospital Cancer Charity(Charity no. 509803-2) Westway Open Arms(Charity no. 1153919)_ Other costs Travel costs re attendance at Charity Fund Raising Events Governance costs Auditor’sremuneration Support costs Total expenditure on charitable activities |
Grants to Institutions Governance & other costs Total 2025 Total 2024 £ £ £ £ - - - 200 - - - 2,000 1,250 - 1,250 - - - - 500 7,450 - 7,450 5,616 - - - 1,276 250 - 250 250 - - - 1,000 1,000 - 1,000 - - - - 500 1,500 - 1,500 - - - - 500 - - - 50 1,000 - 1,000 - 2,000 - 2,000 2,000 5,000 - 5,000 - - - - 50 |
|---|---|
| 86,550 - 86,550 56,692 |
|
| - - - - |
|
| - - - - |
|
| 11,905 - 11,905 11,130 497 - 497 423 |
|
| 12,402 - 12,402 11,553 |
|
| 98,952 - 98,952 68,245 |
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Notes to the Accounts (continued) For the year ended 31 March 2025
The Scarborough Group Foundation
6. EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
Governance costs are those incurred in connection with the administration of the Foundation and compliance with constitutional and statutory requirements and are included within raising funds in the Consolidated Statement of Financial Activities.
The Foundation makes use of office space and staff from Scarborough Management Limited. This is not re-charged to the Foundation as it is impractical to determine the value.
7. STAFF COSTS
The average number of employees during the year was nil (2024: nil).
No Trustees received any remuneration during the year (2024: £nil).
No Trustees received any benefits in kind during the year (2024: £nil).
8. FIXED ASSET INVESTMENTS
| Value at 1 April 2024 Additions Disposals Change in market value Value at 31 March 2025 Property Equities UK Unquoted - Subsidiaries Other Investments - Managed Funds |
Group Group 2025 2024 £ £ 1,193,280 2,062,824 - - 2,124,891 2,053,204 3,318,171 4,116,028 |
Charity Charity 2025 2024 £ £ 1,193,280 1,193,824 1 1 2,124,891 2,053,204 |
|---|---|---|
| 3,318,172 3,247,029 |
||
| Group Charity £ £ 4,116,028 3,247,029 45,382 45,382 (879,496) (10,496) 36,257 36,257 |
||
| 3,318,171 3,318,172 |
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The Scarborough Group Foundation Notes to the Accounts (continued) For the year ended 31 March 2025
8. FIXED ASSET INVESTMENTS (continued)
In the previous year the Foundation purchased 1 apartment for £280,000 from a related party, St Vincent Street Developments Limited, a company of which Simon McCabe is a director. All properties were bought for investment purposes.
The value of the properties held by the Foundation were reviewed at the year-end by the Trustees and a related party with knowledge of the local residential market. All properties are included at market value as assessed by the Trustees.
The three properties owned by Scarborough GF Limited were sold to a third party as part of a wider sale of a portfolio of properties owned by the subsidiary and other related parties before the year end. The sale realised a gain of c. £90,000 based on the original cost.
The Foundation holds 1 share of £1 in its wholly owned subsidiary Scarborough GF Limited which is registered in England and Wales. The activities and results of this company are summarised in note 4.
In previous years The Foundation invested £250,000 in a portfolio of low risk, income producing investments. The investments were initially with Investec Wealth Management Limited but were subsequently moved to Raymond James. Income of £5,070 was received from the Raymond James portfolio during the year (2024: £4,163). The market value of this investment at the year-end was £263,169 (2024: £251,097).
The Foundation also invested £1,750,000 in a portfolio of investments with True Potential in a previous year . The funds are invested in a range of ‘cautious’ funds. Income of £38,483 was received during the year (2024: £30,905). The market value of this investment at the year-end was £1,861,722 (2024: £1,802,107).
The amounts included as assets in the financial statements are the year end valuations provided by Raymond James and True Potential.
Individual investments comprising more than 5% of the total market value of the investment portfolios at the year-end were:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Mixed Portfolios | ||
| True Potential Close Brothers Cautious | 204,167 | 198,157 |
| True Potential SEI Cautious | 299,405 | 288,991 |
| True Potential Schroders Cautious | 225,580 | 143,764 |
| True Potential UBS Cautious | 288,376 | 279,764 |
| True Potential Cautious 7IM | 129,910 | 161,998 |
| True Potential Allianz Cautious | 255,258 | 283,572 |
| True Potential Growth-Aligned Cautious | 325,066 | 315,463 |
| True Potential Pictet Cautious | 133,959 | 130,398 |
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The Scarborough Group Foundation Notes to the Accounts (continued) For the year ended 31 March 2025
9. DEBTORS
| EBTORS | ||
|---|---|---|
| Loan to subsidiary company Trade Debtors Prepayments Accrued income |
Group Group 2025 2024 £ £ - - - 2,021 5,202 6,322 5,810 733 11,012 9,076 |
Charity Charity 2025 2024 £ £ - 781,280 - 1,701 5,202 4,443 5,810 77,116 |
| 11,012 864,540 |
The loan to the subsidiary company was due for repayment on 31 March 2025 and was repaid using the proceeds from the sale of three apartments. Accrued income includes £nil (2024: £76,383) interest due on the loan to the subsidiary. Interest of £127,672 (2024: £23,500) was paid to the Foundation during the year.
At the year-end a total of £nil (2024: £857,663) was due by Scarborough GF Limited to the Foundation.
10. CASH AND CASH EQUIVALENTS
| ASH AND CASH EQUIVALENTS | ||
|---|---|---|
| Current account Investment accounts |
Group Group 2025 2024 £ £ 1,245,372 386,072 232 230 1,245,604 386,302 |
Charity Charity 2025 2024 £ £ 1,242,643 383,758 232 230 |
| 1,242,875 383,988 |
The Foundation’s cash is being held in bank accounts rather than on deposit so this is available, if required, for further investment or for providing donations. The funds are invested in the current account as this is paying a higher rate of interest than the investment account.
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The Scarborough Group Foundation Notes to the Accounts (continued) For the year ended 31 March 2025
11. CREDITORS: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
Group Group 2025 2024 £ £ 4,915 - 16 15 20,228 22,075 25,159 22,090 |
Charity Charity 2025 2024 £ £ 4,602 - 15 16 17,923 17,946 |
|---|---|---|
| 22,540 17,962 |
12. ANALYSIS OF CHARITABLE FUNDS
Analysis of movements in unrestricted funds
| Gain on | |||||
|---|---|---|---|---|---|
| disposals & | At | ||||
| At | restatement | 31 | |||
| 1 April | to market | March | |||
| 2024 | Income | Expenditure | value | 2025 | |
| £ | £ | £ | £ | £ | |
| Total unrestricted | |||||
| funds | 4,489,316 | 167,460 | (145,234) | 38,086 | 4,549,628 |
Analysis of movements in unrestricted funds – 2024
| Loss on | |||||
|---|---|---|---|---|---|
| disposals & | At | ||||
| At | restatement | 31 | |||
| 1 April | to market | March | |||
| 2023 | Income | Expenditure | value | 2024 | |
| £ | £ | £ | £ | £ | |
| Total unrestricted | |||||
| funds | 4,335,496 | 155,090 | (120,342) | 119,072 | 4,489,316 |
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The Scarborough Group Foundation Notes to the Accounts (continued) For the year ended 31 March 2025
13. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net movement in funds Interest, rent and other investment income (Gain) / Loss on investments Gain on investment property Depreciation Increase in debtors (Decrease) / Increase in creditors Net cash used in operating activities |
Group Group 2025 2024 £ £ 60,312 153,820 (167,460) (155,090) (38,086) (113,824) - (5,248) 412 824 (1,936) (2,416) 3,069 (9,156) (143,689) (131,090) |
Charity Charity 2025 2024 £ £ 71,924 269,737 (187,996) (176,908) (19,135) (113,824) - (80,248) 412 824 834,577 (46,170) 4,578 (7,701) |
|---|---|---|
| 704,360 (154,290) |
14. POST BALANCE SHEET EVENT
Since the year end, four investment properties have been purchased by the Foundation for £986,400.
15. ULTIMATE CONTROLLING PARTY
In the Trustees’ opinion, there is no ultimate controlling party.
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