REGISTERED COMPANY NUMBER: SC234981 (Scotland) REGISTERED CHARITY NUMBER: 033759
Report of the Trustees and Financial Statements for the Year Ended 31st August 2025
for The RAP Foundation
Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI1 3SJ
The RAP Foundation
Contents of the Financial Statements for the Year Ended 31st August 2025
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|Report|of the|Trustees|1|
|Independent|Examiner's|Report|2|
|Statement|of Financial|Activities|3|
|Balance|Sheet|4|
|Notes|to|the|Financial|Statements|5|to|8|
|Detailed|Statement|of Financial|Activities|9|
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The RAP Foundation
Report of the Trustees for the Year Ended 31st August 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number $C234981 (Scotland)
Registered Charity number 033759
Registered office Farries Kirk & McVean Dumfries Enterprise Park Heathhall DUMFRIES DUMFRIESSHIRE DG1 3SJ Trustees Ms LA Barr M Gurney J A F McGougan J Colbeck CE Ross J McLatchie DI Ross J Mooney Dr D Strachan CH Yeoh Independent Examiner Gerald M McGill B.A., C.A. Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI1 3S] Approved by order ofthe board oftrustees on OV}oOthe board oftrustees on OV}oO board oftrustees on OV}oO oftrustees on OV}oOtrustees on OV}oO on OV}oO OV}oOoO C3I2G:: and signed on its behalf by:
Approved by order ofthe board oftrustees on OV}oOthe board oftrustees on OV}oO board oftrustees on OV}oO oftrustees on OV}oOtrustees on OV}oO on OV}oO OV}oOoO C3I2G::
Ms L A’Barr - Trustee
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Independent Examiner's Report to the Trustees of
The RAP Foundation
I report on the accounts for the year ended 31st August 2025 set out on pages three to eight.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. Basis of the independent examiner's report My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention :
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(1) _ 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 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and - to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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f( i({—
Cy Mh
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Gerald M McGill B.A., C.A.
The Institute of Chartered Accountants of Scotland
Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI 3SJ
Date: Weta, 2094
Page 2
The RAP Foundation
Statement of Financial Activities for the Year Ended 31st August 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Management& Administration | 270 | 1,683 | |
| NET INCOME/(EXPENDITURE) | (270) | (1,683) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 46,147 | 47,830 | |
| TOTALFUNDSCARRIEDFORWARD | 45,877 | 46,147 |
The notes form part of these financial statements
Page 3
The RAP Foundation
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|---|---|---|---|---|
|Balance|Sheet|
|31st|August|2025|
|2025|2024|
|Unrestricted|Total|
|Notes|fund|funds|
|FIXED|ASSETS|£|£|
|Tangible|assets|4|39,945|39,945|
|CURRENT|ASSETS|
|Cash|at bank|5,932|6,202|
|NET CURRENT ASSETS|5,932|6,202|
|TOTAL ASSETS|LESS CURRENT|LIABILITIES|45,877|46,147|
|NET ASSETS|45,877|46,147|
|FUNDS|5|
|Unrestricted|funds|45,877|46,147|
|TOTAL FUNDS|45,877|46,147|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) eachpreparing financial statements which give a true and fair view ofthe state of affairs of the charitable company as at the end of 395 financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on OMAIZG and were signed on its behalf by:
i L.A Barr - Trustee
The notes form part of these financial statements
Page 4
The RAP Foundation
Notes to the Financial Statements for the Year Ended 31st August 2025
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ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of[Ireland'][and][the][Companies][Act][2006.][The][financial][statements][have][been][prepared][under] the historical cost convention.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of[the][obligation] can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% 0n reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of[the][trustees.]
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31st August 2025 nor for the year ended 31st August 2024.
Trustees' expenses
John McGoldrick paid expenses incurred on behalf of RAP Foundation during both the current and previous financial years and has been re-imbursed for these amounts. 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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EXPENDITURE ON
Charitable activities
Management & Administration
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
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Unrestricted fund £ 1,683 (1,683) 47,830
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The RAP Foundation
Notes to the Financial Statements - continued for the Year Ended 31st August 2025
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
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|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|
|fund|
|£|
|TOTAL FUNDS CARRIED FORWARD|46,147|
|TANGIBLE|FIXED|ASSETS|
|Land|&|Plant|and|
|Buildings|machinery|Totals|
|COST|£|£|£|
|At|Ist September 2024|and|31st August 2025|40,000|400|40,400|
|DEPRECIATION|
|At|Ist|September|2024|and|31st August|2025|-|455|455|
|NET|BOOK|VALUE|
|At 31st August 2025|40,000|(55)|39,945|
|At 31st August 2024|40,000|(55)|39,945|
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Revaluation arose from the property held in Romania. The property address is: Ripicent Street No 66, Block 6, Staircase 2, 9th Floor, Apartment 102, Sector 2, Code 23624, Bucharest, Romania.
MOVEMENT IN FUNDS
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|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.9.24|in|funds|31.8.25|
|Unrestricted|funds|£|£|£|
|General|fund|46,147|(270)|45,877|
|TOTAL FUNDS|46,147|(270)|45,877|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|Unrestricted|funds|£|£|£|
|General|fund|
|-|(270)|(270)|
|TOTAL|FUNDS|
|-|(270)|(270)|
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The RAP Foundation
Notes to the Financial Statements - continued
for the Year Ended 31st August 2025
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.9.23 | in funds | 31.8.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 47,830 | (1,683) | 46,147 | |
| TOTAL FUNDS | 47,830 | (1,683) | 46,147 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | - | (1,683) | (1,683) | |
| TOTAL FUNDS | - | (1,683) | (1,683) | |
| A current year 12 months and prior year 12 months combined position is as follows: | ||||
| Net | ||||
| movement | At | |||
| At 1.9.23 | in funds | 31.8.25 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 47,830 | (1,953) | 45,877 | |
| TOTAL FUNDS | 47,830 | (1,953) | 45,877 | |
| A current year 12 months and prior year 12 months combined net movement in funds, | included in the above are | as follows: | ||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | - | (1,953) | (1,953) | |
| TOTALFUNDS | - | (1,953) | (1,953) |
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The RAP Foundation
Notes to the Financial Statements - continued for the Year Ended 31st August 2025
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2025.
Page 8
The RAP Foundation
Detailed Statement of Financial Activities for the Year Ended 31st August 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Total incoming resources | - | - |
| EXPENDITURE | ||
| Support costs | ||
| Management | ||
| Sundries Bank Charges |
237 33 |
1,670 13 |
| 270 | 1,683 | |
| Total resources expended | 270 | 1,683 |
| Netexpenditure | (270) | (1,683) |
This page does not form part of the statutory financial statements
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