Neison Charitable Trust
Charity No: SC032819
Trustees' Report and Financial Statements for the year ended 5 April 2025
Neison Charitable Trust
Trustees' Report and Financial Statements for the year ended 5 April 2025
Page Contents
2 Contents Page
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3 Trustees' Report
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5 Reference and Administrative Information 6 Statement of Trustees' Responsibilities
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7 Independent Examiner's Report to the Trustees 8 Statement ofFinancial Activities 9 Balance Sheet 10 Notes to the Financial Statements
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Neison Charitable Trust Trustees' Report and Financial Statements for the year ended 5 April 2025
The trustees present their annual report together with the financial statements of the Trust for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s trust deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.
Policies and Objectives
The Trust’s objects, as set out in the Trust Deed are generally all objects of a recognised charitable nature, in particular, but not exclusively:
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the promotion of the Christian faith in Scotland and throughout the world;
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the alleviation of poverty, suffering and disease; and
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education.
Activities For Achieving Objectives
In order to achieve its objectives the Charity makes grants and donations to individuals and institutions. During the year ended 5 April 2025, the grants made were:
£55,000 (2024 £24,000) to the Deeside Christian Fellowship Church General Fund to assist with the cost of general running expenses and staff wages.
£10,000 (2024 £nil) to the Lighthouse, a project which is run by Deeside Christian Fellowship Church to provide a foodbank and community support centre in the Tillydrone area of Aberdeen.
£7,400 (2024 £2,400) to the Deeside Christian Fellowship Church Missions Fund.
In addition, the trustees made a loan to an individual as part of the charity’s objectives. The loan is interestfree and repayable in equal monthly instalments over a 20 year term.
Grant Making Policies
The Trustees consider requests from individuals and organisations on an individual basis.
Achievements and Performance
Review of Activities
The net income for the year, amounting to £29,987 (2024 (£34,242)), has been dealt with as shown in the Statement of Financial Activities.
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Neison Charitable Trust
Trustees' Report and Financial Statements for the year ended 5 April 2025 (cont'd)
Achievements and Performance continued
Investment Policy and Performance
The charity retains funds on instant access deposit to enable it to meet requirements for funding as the need arises.
Reserves Policy
Unrestricted funds at 5 April 2025 were £402,217 (2024 £372,230). Funds are held to meet charitable needs as they arise.
Constitution
Neison Charitable Trust, also known as Neison Christian Charitable Trust, is a recognised charity in Scotland (charity number SC032819) governed bya trust deed.
Method of Appointment or Election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and coopted under the terms of the Trust deed. The powers of appointment and removal of Trustees are set out in the Charity’s Trust Deed. The Trustees have no plans to recruit future charity trustees at this time.
Future Developments
The Trustees aim to utilise the funds, in support of the Trust’s charitable aims, as and when the need arises.
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Neison Charitable Trust Trustees' Report and Financial Statements for the year ended 5 April 2025 (cont'd)
Reference and Administrative Information
Charity Name: Neison Charitable Trust
Also known as 'Neison Christian Charitable Trust'
Charity Registration Number:
S$C032819
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Registered Office: -
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Trustees
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Independent Examiner Bankers
Virgin Money 1 Queens Cross Aberdeen ABL5 4XU
Coutts
Solicitors
Burness Paull LLP
6-8 George Street Edinburgh EH2 2PF
2 Marischal Square Broad Street Aberdeen AB10 1DQ
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Neison Charitable Trust Trustees’ Report and Financial Statements for the year ended 5 April 2025 (cont'd)
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the Trust require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity's trust deed. They are also responsible for safeguarding the assets of the Trust 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 charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved by the Trustees on & ee 2E.. and signed on their behalf by:
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Trustee
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Neison Charitable Trust Independent Examiner's Report to the Trustees of Neison Charitable Trust
I report on the accounts ofthe charity for the year ended 5 April 2025 which are set out on pages 8-15.
This report is made solely to the Charity's Trustees, as a body, in accordance with regulation 11 of the Charities Accounts (Scotland) Regulations 2006. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Respective responsibilities of Trustees and Examiner
The Charity's Trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (the Act) and the Charities Accounts (Scotland) Regulations 2006 (the Accounts Regulations). The Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examiner’s statement
My examination was carried out in accordance with Regulation 11 of the Accounts Regulations. An examination includes a review of the accounting records kept by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.
Independent Examiner’s statement
In the course of my examination, no matter has come to my attention :
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which gives me reasonable cause to believe that in any material respect the requirements :
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to keep accounting records in accordance with Section 44 (1)(a) of The Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the 2006 Accounts Regulations; and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding ofthe accounts to be reached.
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Neison Charitable Trust
Trustees' Report and Financial Statements for the year ended 5 April 2025
Statement of Financial Activities
| Total | Total | ||
|---|---|---|---|
| 2025 | 2024 | ||
| 4 | £ | ||
| Income | |||
| Donations and Legacies | 74 | 113,438 | - |
| Investments | 3 | - | - |
| Total Income | 113,438 | - | |
| Expenditure | 4 | ||
| Raising funds | E | 5 | |
| Charitable activities | 83,451 | 34,242 | |
| Other resources expended | - | = | |
| Total Expenditure | 83,451 | 34,242 | |
| Net income/(expenditure) and net | 29,987 | (34,242) | |
| movement in funds before investment | |||
| Net gains/(losses) on investments | - | - | |
| Net income/(expenditure) before other | 29,987 | (34,242) | |
| recognised gains and losses | |||
| Net movement in funds | 29,987 | (34,242) | |
| Fund Reconciliation | |||
| Total funds brought forward | 12 | 372,230 | 406,472 |
| Totalfundscarriedforward | 12 | 402,217 | 372,230 |
The notes on pages 10 - 15 form part of these financial statements.
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Neison Charitable Trust Trustees' Report and Financial Statements for the year ended 5 April 2025
Balance Sheet
At 5 April 2025
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|---|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|£|£|
|Note|
|Fixed|Assets|
|Tangible|assets|9|296,556|303,789|
|Investments|.|
|296,556|303,789|
|Current|Assets|
|Debtors|10|77,488|59,600|
|Bank|and|cash|32,721|14,889|
|Total|Current|Assets|110,209|74,489|
|Liabilities|
|Creditors|falling|due|within|1|year|11|(4,548)|(6,048)|
|(4,548)|(6,048)|
|Net|Current|Assets|105,661|68,441|
|Net|Assets|402,217|372,230|
|Charity|Funds|
|Unrestricted|Funds|12|402,217|372,230|
|Total|funds|402,217|372,230|
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|financial statements were- }|theTrustees on|a|andsignedon their|
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The notes on pages 10 - 15 form part of these financial statements.
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Neison Charitable Trust Notes to the Financial Statements for the year ended 5 April 2025
- Accounting Policies
1.1 Basis of preparation of financial statements The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). Neison Charitable Trust constitutes a public benefit entity as defined by FRS 102.
1.2 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 charity and which have not been designated for other purposes.
1.3 Income 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 the income receivable can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Costs of generating funds are costs incurred in attracting income, and those incurred in trading activities that raise funds.
Charitable activities and governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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Neison Charitable Trust Notes to the Financial Statements for the year ended 5 April 2025
1. Accounting Policies (continued) 1.5 Tangible fixed assets and depreciation
All asssets are capitalised at cost.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold property
- 50 years
1.6 Interest Receivable 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.
1.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 Cash at Bank and in Hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
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 amortised cost using the effective interest method.
1.10 Going Concern There is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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Neison Charitable Trust Notes to the Financial Statements for the year ended 5 April 2025
| Total | Total | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | > | ||
| 2. | Income from Donations and Legacies | ||
| Donations | 113.438 | - | |
| 113,438 | - | ||
| 3. | Investment Income | ||
| Interest received | - | . | |
| Dividends received | - | - | |
| Total Income | 113,438 | - | |
| All | income in 2025 and 2024 was unrestricted. | ||
| 4. | Expenditure | ||
| Total | Total | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Raising Funds | |||
| Investment Management | - | - | |
| Costs ofraising funds | - | - | |
| Charitable Activities | |||
| Grants payable | 72,400 | 26,400 | |
| Other costs | 11,051 | 7,842 | |
| Charitable activities cost | 83,451 | 34,242 | |
| TotalExpenditure | 83,451 | 34,242 |
All expenditure in 2025 and 2024 was unrestricted.
Neison Charitable Trust Notes to the Financial Statements for the year ended 5 April 2025
| 5. | List ofGrants payable | List ofGrants payable | 2025 | 2024 | |
|---|---|---|---|---|---|
| £ | £ | ||||
| Name ofinstitution | |||||
| Deeside Christian Fellowship Church - | |||||
| General Fund | 55,000 | 24,000 | |||
| Missions Fund | 7,400 | 2,400 | |||
| Lighthouse Project | 10,000 | - | |||
| Total grants to institutions | 72,400 | 26,400 | |||
| Total grants payable | 72,400 | 26,400 | |||
| 6. | Direct Costs | 2025 | 2024 | ||
| £ | £ | ||||
| Professional fees | 2,424 | (792) | |||
| Depreciation | 7,233 | 4233 | |||
| Property costs | 1,380 | 1,380 | |||
| Other expenses | 14 | 21 | |||
| 11,051 | 7,842 | ||||
| 7. | Net | income/(expenditure) | 2025 | 2024 | |
| £ | £ | ||||
| This is stated after charging | |||||
| Depreciation oftangible | fixed assets: | ||||
| -owned by the charity | 7,233 | 7,233 | |||
| Independent examiner's | fee | 924 | 1,008 | ||
| Accountancyfee | 1,200 | 1,200 |
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Neison Charitable Trust Notes to the Financial Statements for the year ended 5 April 2025
- Related Party transactions
During the year, no Trustees received any remuneration (2024 - £nil), benefits in kind (2024 - £nil) or reimbursement ofexpenses (2024 - £nil).
aeGrants were paid :.to TrusteesDeesidetotallingChristian £62,400Fellowship(2024Church, £26,400).of vitA separate restricte grant of £10,000 (2024 £nil) was made to The Lighthouse, a project run by Deeside Christian Fellowship providing a foodbank and community support centre in the Tillydrone area of Aberdeen.
In 2025 professional fees of £300 (2024 £600) were paid to Burness Paull LLP, a firm in which the Directors of Burness Paull (Trustees) Limited are partners. It was discovered that professional fees had been overaccrued by £3,600 for years 2021, 2022 and 2023. This was reversed during 2024.
During the year donations of £90,750 were made by Trustees (2024 - £nil)
| 9. | Tangible Fixed Assets | 2025 | 2024 |
|---|---|---|---|
| Land and buildings | £ | £ | |
| Cost | |||
| At6 April 2024 | 361,653 | 361,653 | |
| Additions | - | - | |
| At 5 April 2025 | 361,653 | 361,653 | |
| Depreciation | |||
| At6 Apmil 2024 | 57,864 | 50,631 | |
| Charge for the year | 7,233 | 7,233 | |
| At 5 April 2025 | 65,097 | 57,864 | |
| Net Book Value | |||
| At§April2025 | 296,556 | 303,789 |
The freehold property is used to support the Trust's charitable activities.
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Neison Charitable Trust
Notes to the Financial Statements
for the year ended 5 April 2025
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|---|---|---|---|---|---|---|
|10.|Debtors|2025|2024|
|£|£|
|Due|within|one|year|
|Gift Aid|tax|refund due|22,688|-|
|Current|portion|of long-term|loan|4,800|4,800|
|Due|after more|than|one year|
|Non-current|portion|of long|term|loan|50,000|54,800|
|Total|debtors|77,488|59,600|
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A loan of £100,000 was made to an individual in the year ended 5 April 2016, as part of meeting the charitable objectives. This loan is non-interest bearing for a 20 year term, with £50,000 falling due after more than one year (2024 - £54,800)
11. Creditors
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|---|---|---|---|---|---|---|---|
|2025|2024|
|Amounts|falling|due|within|one|year|£|£|
|Accruals &|Creditors|4,548|6,048|
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12. Statement of funds
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|---|---|---|---|---|---|---|---|---|---|
|Balance|at|Investment|Balance|at|
|6 April|2024|Income|Expenditure|Gain/(loss)|5|April|2025|
|£|£|£|£|£|
|Unrestricted|funds|
|General|Funds|-|all|funds|372,230|=113,438|(83,451)|-|402,217|
|Total|of Funds|372,230|113,438|(83,451)|-|402,217|
|Balance|at|Investment|Balance|at|
|6|April|2023,|Income|Expenditure|Gain/(loss)|5|April|2024|
|£|£|£|£|£|
|Unrestricted|funds|
|General|Funds|-|all|funds|406,472|.|(34,242)|-|372,230|
|Total|of Funds|406,472|-|(34,242)|-|372,230|
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