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..
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"Capstone Projects Accounts March 2026" History
Document created by Andrew Wilson {andrewbwilson@ngs-ca.co.uk}
2026-08-11- 3..23..56 PM GMT
Document emailed lo Derek Marshall lderekmarshall@factoryskalepark.coml 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 1derekmarshall@factoryskatepark.coml
Siqnalur8 Date.. 202&08-11 . 4..CX)..17 PM GMT- Tlmg Swrc8'. 8ew. &"gThature s￿￿ted.. IMAGE
Document emailed lo Andrew Wilson {andrewbwilson@ngs-ca.co.ukl 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 landrewbwilson@ngsvca.co.ukl
Slqnalure Date.. 202&08-13. 12'.02'.59 PM GMT-Tkne *￿Ir￿.. sew. Siwatwe w*aran￿ Sel*ted.' IMAGE
Agreement completed.
2026-08-13- 12..02..59 PM Gmr
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