2026-03-31-accounts

CHARITY REGISTRATION NUMBER: SC034287 Capstone Projects Unaudited Financial Statements 31 March 2026 NEL ILM Chartered accountants Mercantile Chambers 53 Bothwell Slreet Glasgow G2 6TB

Capstone Projects Financial Statements Year ended 31 March 2026 Page Trustees, annual report Independent examiner's report lo the trustees Statement of financial activities Slatemenl of financial position Notes to the financial statements

Capstone Projects Trustees. Annual Report Year ended 31 March 2026 The trustees present their report and Ihe unaudited financial statements ol the charity lor the year ended 31 March 2026. Reference and admlnlstratlve detalls Regl$tered charlty name Capstone Projects Charily rggislralion number SC034287 Prlnclpal ottlce 15 Balunie Drive Dundee DD4 8PS The trusloes Norman Brown Duncan Chisholm Norman Forresl Alexander MacAulay Derek Marshall (Resigned 24 April 20261 Company socretary Derek Marshall Independent examlner Andrew B Wilson CA Partner, Nelson Gilmour Smilh CAS Mercaniile Chambèrs 53 Bolhwell Street Glasgow G2 6TB

Capstone Projects Trustees. Annual Report (conmnwd) Year ended 31 March 2026 Structure. 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 ils Memorandum a￿1 Articles ol Association. On 31 May 2023 the company passed a resolution lo Convert lo a Scottish Charitable Incorporate Organisalion ISCIOI and is now governed by its constitution. The Trustees who served during the year and up lo the dale ol signature ol the financial slalemenls were.. Norman Brown Duncan Chisholm Norman Forrest Alexander Macaulay Derek Marshall Methods of appolnlmenl or electlon ol Trustees As the Charity expands, other Trustees will be idenlilied and asked lo join the board, as appropriate lo the needs ol the Charity. This will be with the unanimous approval ol the tr*Jard. The appciintm8nl ol Trustees is governed by the conslitulion. No person shall be admitted as a member ol ihe Charity unless they are appointed by the Trustees. Organlsatlon Structure and decl$lon-maklng pollcles Capstone Projects was incorporat8d as a limited company on 3 April 2003. On 31 May 2023 the company passed a resolution to convert lo a Seollish Chariiable Incorporate Organisation ISCIOI. The ￿ard ol Trustees, which meets or three limes a year. administers the Charity. Derek Marshall is approved by the Trustees lo manage Ihe day lo day operations ol the Charty.

Capstone Projects Trustees. Annual Report (conmnwd) Year ended 31 March 2026 Obledlves and actlvllles The Chariws obj8¢lives, as recorded in the Articles, are lo relieve ￿r$on$ who are in conditions ol need or hardship or who are aged or sick and lo relieve the distress caused thereby in the United Kingdom and overseas. To advance the Christian lailh and education in a¢cordan¢e with Christian principles. To provide recreation and other leisure time activities to the youth, the old and the disabled and lo improve their conditions ol lile in a srtuation ol poverty or social and economic circurnslances by promoting their physical, mentai and s￿ritUal wellbeing. The Charity is Currenlly involved in several projects wlh the aim ol relieving poverty in the town ol Lugazi. Uganda. Thè kèy activities that the Charity has focused on arè- Ongoing support ol medical dispensary, Liwno Water Medical Centr8. Providing support and employment OPFQrtuniti8s in the Charitys collee growing project which has now begn closed down. Construction ol a new primary school, completed during thè last Tèporting year. Capstone Chiklrens Centre - supporting chiklren in exlend8d families by paying school lees, health costs elc and support by Capstone Centre staff. Achlevemenls and perfornionco The Charity continued ils charilable work in Uganda with the intention ol bringirKJ the school project lo a close in Ihg not so dislanl lulurg. They continue lo supwrt a netrKsrk ol children. teachers and individuals through the provision ol essential resources. Flnancl81 revlew The charity had income of £14.419 and expenditure of £21,347 leaving a delicil 01 £6,928 lor the year. Al the year end, the Charrty held £12,302 12025= £19.2301 in reserves, ol which, £12,118 12025.. £16,570) were unrestrictedllree reserves. Golng Concem After making appropriate erouiries, the TnJstees have a reasonable expectation that the Charity has adequate resources lo continue in ils operational existence lor the foreseeable lulurg. For this reason, they continue lo adopt the going concem basis in preparing the financial statements. Reserves Pollcy The Trustees are a1￿ing towards fflairrtw.ning unrestricted reserves at a level that equates lo at least three months of unrestricted expenditure. The Charity has unreslricle(I reserves which meet this reserves wlicy.

Capstone Projects Trustees. Annual Report (conmnwd) Year ended 31 March 2026 11108126 The trustees, annual repK)rt was approved on .............................. arKJ signed on behalf ol the board ol trustees by.. Derek Marshall Trustee

Capstone Projects Independent Examiner's Report to the Trustees ol Capstone Projects Year ended 31 March 2026 I report to the trustees on ffly examinatK)n ol the financial statements ol Capstone Projects I'the ¢harilYI lor the year ended 31 Mar¢h 2026. Responsibllltles and basls of report As the trustees ol the charity you are responsible lor the preparalion ol the financial siatements in accordance with the requirements of the Charities armj Trustee Investment Iscotlandl Act 2005 Ithe '2005 Acl'l and the Charities Accounts (Scollandl Regulations 2006 las amended). You are satisfied that your charity is not required by charity law lo bè audited and have chosen instead lo hav& an independent examination. I report in respect ol my examination ol the charitys linancial statements as carried out under section 4411llcl ol the 2005 Act. In carrying out my examination I have followed the rèquiremènts ol Regulation 11 01 the Charities Aecounts IscoiiarMJI Regulations 2006 las amended). Independent examlner's statement Since the charity has prepared its accounts on an accruals basis your examiner must be a member ol a body listed in Regulation 11121 ol the Charities Accounts (Scollandl Regulations 2006 las amended). I can confirm that l am qualified to undèrtake thè èxamination because l am a regislèrad mamber ol ICAS which is one ol the listed bodies. I have completed my examination. I confirm thal no matters have come lo my attention giving me cause lo believe that in any material respect.. accounting records were noi kept as required by section 4411llal ol the 2005 Act and RegulalK)n 4 01 the Charities Accounts (Scollandl Regulations 2006 las amended)., or the financial statements do not accord wlh those records; or Ihe linancial statements do nol comply wlh the accounting requirements ol Regulation 8 01 the Charities Accounts (Scollandl Regulations 201￿ las amended). I have no concerns and have come across no other matters in connection with the examination lo which allenlion should be drawn in this report in order lo enable a proper underslanéing ol the accounts lo be reache(l. Andrew 8 Wilson CA Partner, Nelson Gilmour Smrth CAS Independent Examiner Mercantile Chambers 53 Bolhwell Street Glasgow G2 6T8 13108126

Capstone Projects Statement of Financial Activities Year ended 31 March 2026 2026 Restricted funds Total fund$ Total funds 2025 UnreStr￿ted funds Income and endowments Donations and legacies Investment income 12,467 202 1.750 14.217 202 14,112 316 Total Income 12,669 1.750 14.419 14,428 Expendlture Expenditure on charitable aclivibes Total expendlture 17.121 4.226 21.347 15,025 17.121 4.226 21,347 15,025 Not expendlture and nel movement In funds 14.4521 12.4761 16.9281 15971 Reconclllètlon of lunds Total funds brought lotward Total funds ¢arrled forword 16.570 19.230 19,827 12.118 12,302 19,230 The slalemenl ol financial aclivrtKgs includes all gains a￿1 k)sses recognised in the year. All income and expenditure derive from continuing activit￿. The notes on pages 8 to 14 forrn part of Ihese financial statements.

Capstone Projects Statement of Financial Position 31 March 2026 2026 2025 Note Current asset$ Cash al bank and in hand 12.932 20,460 Credltors- amounts falllng due wlthln one year Net current assets 12 630 1,230 12,302 19,230 Total assets less current Ilabllltles 12,302 19,230 Net a$$els 12.302 19,230 Funds of the charSty Reslricled funds Unreslricled funds 184 12,118 2,660 16,570 Total charlty lunds 13 12,302 19,230 These linancial slalemenls were approved by Ihe board ol Iruslees and aulhorised lor issue on , and are signed on behall ol the board ty.. Dgrek Marshall Trustee The notes on pages 8 to 14 forrn part of Ihese financial statements.

Capstone Projects Notes to the Financial Statements Year ended 31 March 2026 General Informatlon The charity is a public benelil entity and a registered charity in Scotland and is un1ncor￿raIed. The address ol the principal ollic8 is 15 Balunie Drive. Dundee, DD4 8PS. ststement ol compllance These financial staternents have been prepared in compliance wf(h FRS 102, The Financial Reporting Standard applicable in the UK and the Republic ol Ireland,, the Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic ol Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities and Trustee Investment Iscotlandl Act 2005 and the Charity Accounts Iscotlandl Regulations 2006 las amènded). Accountlng pollcles B851s of prèparotlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation ol certain financial assels and liabilities and invesbnent properties measur8d at lair value through income or expenditure. The financial slalemenls are prepared in slerliry. vthich is the functional currency ol the enlily. Golng concern There are no material uncertainties about the charitys abilTty lo continue. Judgèmènts and kèy sour¢8s ol èstlmatlon uneèrtalnty In the application ol the companls accounting policies, the Truslees are rgquirgd lo make judgements, estimates and assumplions about the carwng amount ol assets and liabilities that are not readily apparent Irom Other sources. The estimates and associated assumptions are based on hislorieal experience and other laciors ihat are conS￿ered to L* relevant. Actual results may differ from these eslimales. Fund accountlng Unrestricted lunds are available lor use ai the discretion ol ihe trusteès to further any ol the charity's purposes. Designated funds are Unrestr￿ted funds eamiarked by the Iruslees lor particular lulure project or commitment. Restricted funds are subjected to restrictions on Iheir expenditure declared by the donor or through the terms of an a￿al, and fall into one ol two sub-classes.. restricted income funds or endowment funds.

Capstone Projects Notes to the Financial Statements (Conth￿l Year ended 31 March 2026 Accountlng pollcles (Willn￿l? Incoming resources All incoming resources are included in the statement of financial actsvities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories ol income.. in¢ome from donations or grants is recognised when there is evidence ol entitlement to the gift, receipt is probable and its amount can be measured rel1￿y. legacy income is recognised vthen receipt is probable and enlillemenl is established. income from donated goods is ffleasured at the lair value ol the goods unless this is impraetieal lo mèasure reliably. in which case ihe value is derived Irom the cost lo the donor or the eslimaleé resale value. Donaled facilities and services are recognised in the accounts when received il the value can b8 reliably measufed. No amounts are included lor the contribution ol general volunteers. income Irom contracts lor the supply ol sèrviees is recognised with the delivery ol the contracted serwce. This is classified as unreslricled luncls unless there is a conlraclual requirement lor il lo be spenl on a particular purFx)se atKI returned il unspent. in which case il may be regardgd as rostricled. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be lully recovered. and is classrfied under headings ol the slalemenl ol financial activities lo which il rglales: expenditure on raising lunds includes the costs ol all fundraising aclivilies, events, non- charitable trading activities, and the sale ol t*>naled gocxys. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims IOT the benelii ol its benef￿larI&s, including those supptrrt costs and costs relating lo the governance ol the charity apportioned to charitable activities. other exp8nditure includes all expenditure that is neilher related lo raising funds lor the charity nor part ol its expenditure on charitable activiiies. All wsts are allocated lo expenditure categories reflecting the use ol the resource. Direct Costs attributable lo a single activity are all￿ted directly lo Ihal activity. Shared costs are apportioned between the activities Ihey contribute lo on a reasonable. jusliliable and consislenl basis. Flnancl81 Instruments A financial asset or a tinancial liabilty is recognis&Y only when the charity becomes a paty lo the conlra¢lual provisions ol the inslrumenl. Bas￿ linancia instruments are inilially recognised al Ihe amount receivable or payable including any related transaction costs.

Capstone Projects Notes to the Financial Statements (Conth￿l Year ended 31 March 2026 Accountlng pollcles (Willn￿l? Financial instruments (eonlIn￿dJ Current assets arml current liabilities are subsequently measured at the cash or other consideration expected to be paid or received arml not discounted. Debt instruments are subsequendy measured at amortised cost. Where investments in shares are publicly traded of Iheir lair value can olhetwise be measured reliably, the investment is subsequenily measured al lair value with changes in lair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment. Other financial inslrumenls, incIL￿ing derivatives, are initially recognised al lair value, unless payment lor an asset is deferred beyond normal business terms or financed al a rale ol interest that is not a market rale, in which case the asset is measured al the present value ol the lulure payments discounted at a market rate ol interest a similar d9bt instrumgnt. Other financial instruments are subsequently measured al lair value. with any ehang&s recognised in the statement ol financial activilies. wth the exeeplion ol hèdging instruments in a designated hedging relationship. Financial assets Ihal are measured al cost or amortised cost are reviewed lor objective evidence ol impairment at the end ol each Teporting date. 11 there is objective evidence ol impairrnent, an impairment k)ss is recognised under the appr¢Jpriate heading in the statement ol financial aclivilie8 in which the initial gain was recognised. For all equity instruments regardless ol significance, and other financial assets that are individually signilicanl, these are assessed indi¥Adually lor impairment. Other financial assets are either assessed individually or groupgd on the basis ol similar credit risk characterist￿$. Any reversals ol impaimienl are reccrfJnised immediately, lo the extent that the reversal does not result in a carrwng amount ol the financial asset that exceeds what the carrwng amount would have been had the impairment not prewously been recognised. Donatlons and legacles Unrestricted Funds Reslricled Total Funds Funds 2026 Donations Donations and legacies 12.467 1.750 14,217 Unrestricted FuTrJs Restricted Total Funds Funds 2025 Donations Donations and legacies 13.637 475 14,112 10

Capstone Projects Notes to the Financial Statements (Conth￿l Year ended 31 March 2026 Investment Income Unreslricled Total Funds Unreslricled Total Funds Funds 2026 Funds 2025 Bank interest receivable 202 316 316 Expendlture on charltable actlvltles by fvnd type Unreslricled FU￿lS Reslricled Total Funds Funds 2026 Uganda street children Uganda dispensary Uganda personal support Health Outreach Uganda team costs Support costs 5,400 4,200 4.062 2.640 4,226 819 4,226 819 17.121 4,226 21,347 Unreslricled FU￿lS Reslricled Total Funds Funds 2025 Uganda street children Uganda dispensary Uganda personal support Health Outreach Uganda team costs Support costs 5,300 4.200 2,060 2,640 825 825 15,025 15,025 Expendlturo on charllabl8 actlvltlès by actlvlty ty Activities undertaken directly Support costs Total funds 2026 Total fund 2025 Uganda street children Uganda dispensary Uganda personal support Health Outreach Uganda team costs Support costs Governance costs 5.400 4.200 4,062 2,640 4,226 189 630 5,300 4,200 2,060 2,640 4,062 189 630 195 630 20,528 819 21,347 15,025

Capstone Projects Notes to the Financial Statements (Conth￿l Year ended 31 March 2026 Analysls ot support costs Charitable aclivitses Totsl 2026 Total 2025 Governance costs Support costs - Bank charges 630 189 630 195 189 819 819 825 Independent examlnatlon lees 2026 2025 Fees payable lo the in¢Jependenl examiner for.. Independent examinalion ol the financial statements 630 630 10. Staff costs The average head count ol employees thjring the year was Nil12025.. Nill. No employee receive(l employee benelits ol more than £60.000 during the year12025'. Nill. 11. Trustee remunerallon and expenses No Iruslee received remuneration during the peTiod12025.. £nill. See note 15 lor details on Truslee Iravel expenses. 12. Credltorg: amounts lalllng due wllhln one year 2028 2025 Accruals and deleryed income 630 1,230 12

Capstone Projects Notes to the Financial Statements (Conth￿l Year ended 31 March 2026 13. Analysls ot charftable funds Unrestricted lunds At 31 March 202 At 1 April 2025 Income Expenditure Transfers Unrtsslricted General Funds 16.570 12.669 117.1211 12,118 Al 31 March 202 Al 1 April 2024 Income Expenditure Transfers Unrèslrided General Funds 16,399 13.953 115.0251 1,243 16,570 Restrlcted fund¥ At 31 March 202 Al 1 April 2025 Income Expenditure Transfers Uganda travel costs 1,750 14,2261 184 Al 31 March 202 Al 1 April 2024 Income Expendilure Transfers Uganda travèl costs 3,428 475 11,2431 2,660 Uganda travel costs - To fund team membèts travel to Uganda. It was agreed with the donor that £1,243 could be Iranslerred lo unresliicted lunds. 13

Capstone Projects Notes to the Financial Statements (Conth￿l Year ended 31 March 2026 14. Analysls ot net assets between lunds Unrestricted Funds Restr￿ted Total Funds Funds 2026 Current assets Creditors less than 1 year Net assets 12.748 16301 12,118 12,932 16301 12,302 Unrestricted Funds ReStr￿ted Total Funds Funds 2025 Current assets Creditors less than 1 year Net assels 17.800 11.2301 16.570 2,660 20,460 11,2301 19,230 2,660 15. Relaled partles During the year. all live Trustees madg donations lo Ihg Charity lotalling £5,64012025.' £5,105). The Charity paid travel expenses ol t3.247 12025.. tnill lor Derek Marshall. Ruth Marshall (daughter ol Derekl, and Duncan Chisholm lo enable volunteer work in Uganda. The expenses were made from the feslricted Uganda travel costs luThJ, which the team members donate lo. 14

Capstone Projects Accounts March 2026 Final Audit Report 2026-08-13 Created.. 202&08-11 By.. Mdr￿ Wilsjn laTrJr&Y￿Yl￿M￿5-L￿.W.￿kI Status.. &gn Transaction 10.. C8JcHBc￿BAATlIpLF￿4[rfJP90wB￿"nal1ryB5YR￿(￿Pz "Capstone Projects Accounts March 2026" History Document created by Andrew Wilson {[e-mail]} 2026-08-11- 3..23..56 PM GMT Document emailed lo Derek Marshall [e-mail] for signature 2026-08-11- 3."24."00 PM GMT Email viewed by Derek Marshall Ide￿kmarsha11@fa¢1orySk4Iepark.¢om) 2020-08-11- 3'.44.'11 PM GMT Document e-signed by Derek Marshall [e-mail] Siqnalur8 Date.. 202&08-11 . 4..CX)..17 PM GMT- Tlmg Swrc8'. 8ew. &"gThature s￿￿ted.. IMAGE Document emailed lo Andrew Wilson {[e-mail] for signature 2026-08-11- 4..00..18 PM GMT Email viewed by Andrew Wilson landrewbwllson@ngs￿8.co.Uk) 2026-08-13- 12..02..47 PM GMT Document e-signed by Andrew Wilson [e-mail] Slqnalure Date.. 202&08-13. 12'.02'.59 PM GMT-Tkne ￿Ir￿.. sew. Siwatwe waran￿ Sel*ted.' IMAGE Agreement completed. 2026-08-13- 12..02..59 PM Gmr . Adobe Acrobat Si