CHARrrY REGISTRATION NUMBER: SC034287 Capstone Projects Unaudited Financial Statements 31 March 2025 NELSON GILMOUR SMITH Chartered accountants Mercantile Chambers 53 Bothwell Street Glasgow G2 6TB Capstone Projects Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of finanoial position Notes to the financial statements Capstone Projects Trustee8' Annual Report Year ended 31 March 2025 The trustees present Iheir report and the unaudited finanGial ststements of the charity for the year ended 31 March 2025. Reference and admlnlgtratlve details Regi8tered Gharity name Capstone Proj8Cts SC034287 Charify registration numb8r Prlnclpal office 15 Balunie Drive Dundee DD4 BPS The trustees Company secretary Independent examlner artner. Nelson Gilmour Smith CAS Mercantile Chambers 63 Bothwell Streét Glasgow G2 6T8 Capstone Projects Trustae8' Annual Report {ct)ntlnuedJ Year ended 31 March 2025 structurei governance and management The Charity was registered on 3 April 2003 In Scotland as a private charitable company limited by guarantee and was governed by its Memorandum and Afiicles of Association. On 31 May 2023 the company passed a resolution to convert to a Scottish Charitable Incorporate Organisation (SCIO) and Is now govemed by Its constitution. The Trustees who served during the year and up lo the date of slgnature of the financial statoments wer6.. Methods of appolnlrnent or election of Trustses As the Charity expands, other Twstees will be identrfied and asked to join the lJ)ard, as appropri8te to the needs of the Charity. This will be with the unanimous approval of the board, The appoinlmenl of Trustees is governed by the constituti¢Xt, No person shall be admttted as a member of the Charity unless they are appointed by the Trustoes. Organlsatlon 8tructure and decision-maklng pollcles Capstone Prolects was incorporated as 2 limited company on 3 April 2003. On 31 May 2023 the company passed a resolution to convert to a Scottish Charltablé Incorporate Organisation (SCIO). The board of Trustees, which meets tho or three tj.mes a year, administers the Charity. is approv8d by the Trustees to manage the day to day operations of the Charily. Capstone Projects Trustee8' Annual Report (conllnuad) Year ended 31 March 2025 Objectives and activltles The Charity's objectives, as recorded In the Articles, are to relieve persons who are in conditions of need or hardship or who are aged cr sick and to relieve the distress caused thereby in the United Kingdom and overseas. To advance the Christian faith and education in accordance with Christian principles. To provide recreation and other leisure time actrvities to the youth, the old and the disabled and to improve their Conditions of life in a situation of poverty or social and economic circumstances by promoting their physical, mental and spiritual wellbeing. Tha Charity is currently involved in several projects with the aim of relieving poverty in the town cf Lugazi, Uganda. The key activities that the Charity has focused on are.. Ongoing support of medical dispensary, Living Water Medical Centre Providing support and employment opportunities in the Charity's coffee growing project which has now been closed down. Construction of a new primary school, completed during the last r8POrting year. Capstone Childrens Centre supporting children iri 8Xtended families by paying school fees, health costs etc and Support by Capstone Centre staff Achievements and performance The Charity continued its charitable work in Uganda with the intention of bringing the school project to a close in the not so distant future. They continue to support a network of children, teachers and individuals through the provision of essential resources. Flnanclal review The charity had incotlle of £14,428 and expenditure of £15,025 leaving a deficit of £597 for the year. At the year end, the Charity held £19,230 (2024: £19,827) in reserves, of which, £16,570 were unrestrfctedlfree reserves. Going Concorn After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in its operational existence ft)r the foreseeable future, For this reason, they continue to adopt the going concem basis in preparing the financial statements, Res8rves Pollcy The Trustees are aiming towards maintaining unrestricted reserves at a level that equates to at least three months of unrestricted expenditure. The Charity has unrestricted reserves which meet this reserves policy. Capstone Projects Trustees, Annual Report (conllnugd) Year ended 31 March 2025 The trustees, annual report was approved on 22rd August, 2025, and signed on behalf of the board of trustees by.. Capstone Projects Indepandent Exarninerfs Report to the Trustees of Capstone Projects Year ended 31 March 2025 I report to the trustees on my examination of the financial statsments of Capstone Projects I'the chanty,) for tha year ended 31 March 2025. Responslbllltles and basls of report As the trust888 of the charity you are responslble for the preparation of the financial ststements in accordan￿ with the requirements of the Charities and Trustee Investment (Scotland) Act 20D5 (the '2005 Act,) and the Charities Accounts (Scotland) Regulations 2006 (as amended). You are satisfied that yaur charity is not required by charity law lo be audited and have chosen Instead to have an independent examinaiion, I report ill respect of my examinatioTr of the charity's financial statements as carried out under secllon 4411)(c) of the 2005 A￿. In carrying out my examination I have followed the requirements of Regulats'on 11 of the Charities AccoLint8 (Scolland) Regulations 2006 (as amended). Independent exaniiner's statement Slnce the charrty has prepared its acwunts on an accnjals basis your exeminer must be a member of body listed in Regulation 11(2) of the Charrties Accounts (Swt12nd) Regulats'ons 2006 (as amend&J). I can confirm thal l am qualffied to ulldertake the examination because l am a registered mernber of ICAS which is one of the Ilsted bJdie8. I have completed rny examination. I conffm that no matters have come to my attention giving me cause to believe that in any material respect, a¢￿Unting rec.prds were not kept as required by section 44(1)(a> of the 2005 Act and Regulation 4 ofthe Charities Accounts (Scotland) Regulations 20(￿ (as amended). or the financial Statements do not accord with those reccrds," or the financial statements do not comply with the accounting requirements of Regulation 8 of the Charities AGcounts (Scotland) Regulations 2006 {as amanded). I have no concerns and have come across no other matters in connection with the examination to which altention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Partner, Nelson Gilmour Smith CAS Independent Examiner Mercantile Chambers 53 Bothwell Street Glasgow G2 6TB z?1 Ilzg Capstone Projects Statement of Financial Activities Year ended 31 March 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Investment income 13,637 318 475 14,112 316 15,040 Total income 13,953 475 14,428 15,040 Expenditure Expenditure on charitable activities Total expendllure 15,025 15,025 15,025 15,025 27,972 27,972 Net exp8nditure (1,072) 475 (597) (12,932) Transfers between funds 1,243 (1,243) Net movement in funds 171 (768) {597) (12,932) Reconclllatlon of funds Total funds brought fotrward Total funds carrled forward 16,399 3,428 2,660 19,827 19.230 32,759 19,827 16,570 The statement of financial activities includes all gains and Ioss8s recognised in the year. All Income and expenditure derive from continuing activities. The notes on page8 8 to 14 form part of these financial statements. Capstone Projects Ststement of FAnancial Position 31 March 2025 2025 2024 Current asset$ Cash at bank and in hand Note 20,4SO 20,427 Credltors.. amounts falling due W￿thIn one year Net curr6nt a880ts 12 1,230 600 19,230 19,827 19,827 19,827 Total ass8ts less current Ilabllltles Not assets 19,230 19.230 Fund8 of the charlty Restricted funds Unrestrlcted funds 2,660 16,570 3,428 16,399 19,827 Totsl charity funds 13 19,230 Th&se financial statements viere approved by the board of trustees and authorised for issu8 on 22nd August, 2025, and are signed on behalfcf the board by.. The notès on pages 8 to 14 form part of these finanGial statements. Capstone Projects Notes to the Financial Statements Year ended 31 March 2025 General Information The charity is a public benefit entity and a registered charity in Scotland and is unincorporated. The address of the principal office is 15 Balunie Drive, Dundee, DD4 8PS. Statement of compliance These financial statements have been prepared in complianGe with FRS 102, 'The Financial Reporting Standard applicable In the UK and the Republic of Ireland,, the 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 IFRS 102) (Charities SORP (FRS 102)) and the Chartties and Trustee Investment (Scotland) AGt 2005 and the Charity Accounts (Scotland) Regulations 2006