Charity registration number SC036188 Iscotlandl SCOTTISH MINING CONVALESCENT TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
SCOTTISH MINING CONVALESCENT TRUST CONTENTS Page Trustees. report Independent auditor's report statement of financial activities Balance sheet Stslemenl of cash flows 10 Notes lo the financial statements 11- 19
SCOTTISH MINING CONVALESCENT TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 The Trustees present their annual report and financial statement5 for the period ended 31 March 2025. The financial statements have been prepared in accordance with the accounting Policies set out in note 1 to the financial statements and comply with the Charity's Trust Deed, the Charities and Trustee Investment Iscotlandl Act 2005, the Charities Accounts Iscollandl Regulations 2008 las amended) and "Accounting and Reporting by Charilie5." Slalemenl of Recommended Practice applicable lo charitie5 preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢live 1 January 20191" Objectlves and actlvltles The Scottish Mining Convalescent Trust is a Registered Scottish Charity SC038188 which provides at its premises, Blair Castle, Culross, Fife, KY12 8JW, suitable accommodab'on for limited periods of convalescence to families from throughout the UK with a link lo the coal mining industry. Applicants are offered a period of convalescence of eleven days during which time they are afforded full board, support and supervision according to their individual needs. Entertainment and outings are available for those who wish lo participate. This will be the last set of accounts for Scottish Mining Convalescent Trust and we will be ¢onlarting OSCR to finalise the reorganisation to Scottish Mining Welfare Trust. Achlevements and perfom)an¢e Scottish Mining Convalescent Trust is now in the process of finalising the reorganisation. Financial review The account5 cover the period to 31 March 2025. The deficAt for the year is £114,083 12023.. deficit £57,078). The financial slalements have been prepared in accordance with current slalutory requirements and the charity's trust deed. Reserves and Going Concem 11 is the charity's policy lo relain unrestricted ftjnds not already designated lo cover six months, operating costs. The Trust is in the pro$$ of merging with Scottish Mining Welfare Trust (SMMl which has assets to Cover the requirements of 6 months operating costs if required. Rlsk Management The management committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated al least annually. Vvhere appropriate, systems or procedures have been established to mitigate the risks the charity faces. Plans for future periods The charity is Currently in the process of finalising the reorganisalion wth The Office of the Scottish Charity Regulator. This set of accounts will be to cessation. Structure. govemance and management The Scottish Mining Convalesnt Trust is governed by the decree of the Court of Session and supporting Interlocutor dated 2 December 2004. The Trust is a registered Scottish charty ISC0361881.
SCOTTISH MINING CONVALESCENT TRUST TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 statements were.. Appointment of Trustees Joint appointments are made from the mining unions and mining companies for Trustees to join the Board. The mining unions can make up lo three appoinlmenls, mining companies three appointments and the Coal Industry Special Welfare Organisation one appointment. Trustees are required to have the necessary experien in order to carry out their duties effectively and efficiently. Vvhen recruiting new Trustees the important attribute is a passion for the work of the Trust and an understanding of the ch8ritsble obieclives. Key Management Personnel Charlty Reglstratlon Number SC036188 Registered Office Scottish Mining Convalescent Trust, Blair Castle, Culross, Fife, KY12 8JW Our Advlsors Auditor- Thomson Cooper, 3 Castle Court, Camegie Campus, Dunfermline, Fife, KY11 8PB Solicitors- Morgan Law Pathership, 33 East Port, Dunfemiline, Fife, KY12 7JE Bankers Unity Ttusl Bank, Ninè Brindleyplace, Bimingham, B12HB Investment Managers- Ralhbones, 159 New Bond Street, London, W1 S 2UD Trustees Inductlon and Tralnlng The induction and training of Trustees is carried out during their term of service. Related parties and co-operating with other organisations All Trustees give freely of their lime and talents for the benefit of the Charity and lake no remuneration.
SCOTTISH MINING CONVALESCENT TRUST TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Stst•mgnt of Tru¥ts8¥' rg¥ponslbllltlg¥ The Trustees are re5pon&ble for preparing the Trustees, Report and the ffinancAal 5tatemen15 in accordancE th applicable law and United 'ngdoM Accounting Standards (Unrted Kingdom Generally Accepted Accounting Pr8Cticel. The law applicable lo charities in Scodand requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and applicalion of r8$our¢8s of tho Charity for that poriod. In preparing these financial slatemenls, the Trustee¥ are required lo.. - seleGt suitable accounb'ng policies and Ihen apply them ¢XJnsi5tently', - obseNe the methods and principles in the Charities SORP.. - make judgements and estimates that are asOnable and prudent. - slate whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained irb the financial slalements.. and prepare the finanaal statements on the gcing concem basis unless it is inappropriat8 to presume that the charty will continue in operation. The Trustees are reSn51t1e for keeping suffiaent accounting retrdS that disdose svith reasonable accuracy at any lime the financial position of the Charity and enable them to ensure that the financial slalement8 Comply wth the Charities and Tnjstee Investment {Scotl8ndl Act 2005, the Charities Accounts Iscouandl RegLAalions 2006 las 8mended} and the provisions of the trust deed. They are also responsitrAe for safeguarding the assets of the Charty and hence for taknThJ reasonablg Steps for the prevention and detsCtn of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial infomalion induded on the Charrtls websf(e. Legiation in the Un¢ted Kingdom governing the preparab'on and dissemination of financial slatemgnls may differ from legislation in otherjurisdicts'on& Audltor A resclution proposing Ihat Thomson Cooper te reappointed a$ auditor of the company will be pul al a General Meeling. Dl¥closure of Infommtlon to audltor Each of the Trustees has confirmed that there is no information of which they are aware lch is relevant to the audi(, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate Steps to identify such relevant information and lo eslabli8h that the audit¢x is aware of Such infomalion. The Trustees. report was approved by the Board of Trustees. Chair 23 December 2025
SCOTTISH MINING CONVALESCENT TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF scorrisH MINING CONVALESCENTTRUST Oplnlon We have audited the finanrjal 5talemen15 of Scottish Mining Conval2sont Trust (the 'Charity'l for the period ended 31 March 2025 which comprise the statement of financial activTbes. the balance sheet, the 5t8lemenl of cash flows and the notes lo the financial slalements, including 8 summary of significant accounting pdicies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, induding Finanaal Reporting Stsndard 102 The Financi81 R8porting Stand8nS applicable thg UK and Republic of Ireland {Uniled Kingdom Generally Accepted Accounting Practicel. In our opinion, the financi81 statements.. give a true and fair view of Ihg $tsle of the thanty's affairs as al 31 March 2025 and of its incoming resources and application of resources, for the period then ended,. have been properly prepared In ae£ordance wth Unlted Klngdom Generally Accepted Accounlng prath., and have been prepared in aOrdan with th8 Charitigs and Trust99 Investmont Iscodandl Act 2005 and regulation 8 of the Charities Accounts Iscouandl Regulations 2006. Ba818 for oplnlon We conducted our audit in accordance with International Standard5 on Audthng IUKI (ISAS IUKI) and applicatle law. Our responsibilities under those standards are further dvdcribed in the Auditorfs responsibilities for the audit of the fin8nci41 st8temenls section of our report. are independent of the Charity in accordance bwth the ethical requirements that are relevant to our audi( of the financial stslemenls in the UK, induding the FRC'S Ethical Stsndard, and we have fulfilled our other ethical respon8ibilib.es in accordance wth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concem In audf(ing the finan¢ial statsmenls, we have conduded that tho Trusleos, use of the gThng concem basis of a¢UntIng in the preparation of the finar141 statements 1$ appropriate. Based on the work we have performed, we have not identified any material unrtaIntieS relating to events or conditions that, individually or collectively. may cast signrficanl doubt on thè Charitys ability to continue as a going concem for a period of at least twelve months from when the financial Statements are authorised for issue. Our responslbllilles and the respLMsib[les of the Trustees wth respect 10 going concem are descrlbed In the relevant sections of this report. Other Infomiatlon The other information comprises the infomialion included in the annual report other than the finanal slalements and our audilorfs report Ihereon. The Trustees are responsitle for the olher information contained wthin the annual report. Our opinion on the financial statements does ngt cover the other infomialion and we do not express any form of assurance condusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other infomialion is materially inconsistent with the financial slalements or our krwledge obtained in the course of the audit. or otherwse appears lo be materially misstated. If we identify such material incorbSiStencie3 or apparent material mis5ts1ement5, we are required to determine whether this give5 rise to a material mi55tstemenl in the finanual stslemenls themselve8. If, based on the work we have performed, we conclude that there is materi8J mi88talement of thi8 Other informslion, we are required to report that fact. IAb have nothing to report in this rggard. Matters on whlch we are requlred to report by exceptlon Wo havg nothing lo roport in re$pgCt of the following matters in relation lo vthich the CharitKgs Accounts Iscotlandl Regulations 2006 requires us lo report to you rf, in our opinion.. the information given in the financial stslemenls is ineLJnslstent In any materfal respect wfth the Trustees, report," or propor accounting records have not been kept., the financial 8talements are not In agreement wrth the accounting records.. or we have not received all the infomation and explanations we require for our audit.
SCOTTISH MINING CONVALESCENT TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SCOTTISH MINING CONVALESCENT TRUST Re5ponsibilitie5 of Trustees As explained more fully in the slalement of Trustees. responsibilities, the Trustees are responsible for the preparation of the financial stslemenls and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine is necessary to enable the preparation of financial ststemenls that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability ID continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend lo cease operations, or have no realislie altemalive but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 4411 Ilcl of the Charities and Trustee Investment (Scotlandl Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial stslemenls as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an auditor's report that in¢ludes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slatemenls. The extent to which our prOdureS are capable of detecting irregularities, including fraud, is detailed below. Extent to which th8 audit was capable of datecting irrngularitias, including fraud. We considered the opportunities and incentives that may exist within the organisation for fraud and identrfied the greatest potential for fraud in the followng areas." existence and liming of recognition of income, posting of unusual journals along with complex transactions and non-compliance with laws and regulations. We discussed these risks with management, designed audit procedures lo lesl the timing and existence of revenue and tested a sample of journals to confirm they were appropriate. In addition, we reviewed areas of judgement for IndilOr$ of management bias to address these risks. We identified areas of laws and regulations that Could reasonably be expeded lo have a material effect on the financial statements from our sector experience through discussion with the officers and other management las required by the auditing standards). We reviewed the laws and regulations in areas that directly affect the financial slalements induding applicable charity and company law and considèred the extent of compliance with those laws and regulations as part of our procedures on the related financial slalemenl items. With the exception of any known or possible non-compliance with relevant and signifi¢anl laws and regulations, and as required by the auditing standards, our work in respect of these was limrted to enquiry of the offir$ and management of the charity. We communicated identified laws and regulations and potential fraud risks throughout our team and remained alert to any indications of non-compliance or fraud throughout the audit. However the primary responsibility for the prevention and detection of fraud rests with the trustees. Owing lo the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misslatemenls In the financial slalements, even though we have properly planned and performed our audit in accordance with auditing 5tandard5. We are not responsible for preventing non-compliance and cannot be expected lo delect non<ompliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstslemenl resulting from fraud as this may involve sophisticated schemes designed to avoid detection, induding deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
SCOTTISH MINING CONVALESCENT TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF scorrisH MINING CONVALESCENTTRUST A fufther description of our responsibilities is available on the Financial Reporbng Council's websf(e at.. https'.11 www.frc.org.ukJaudilorsresponsibilitie& This description fomis part of our audrtorfs report. U80 of our r•port This report is made Solely lo the ch8nty's trustee8, as a Ix)dy, in 8ccordance wlh Regul81ion 10 of the Charities Ants IS¢odandl Regulations 20C6. Our audit work has l)gen undertaken so that we might slatg lo the ¢harty'$ tru$lee$ those matters we are r¢quired to stale to Ihgm in an auditor'$ report and for no other purpo$e. To the fvlle$l exlenl permitted by law, we do not ap1 or assumo rgsponsibility to anyone olh8r than the tharity and tho tharity'5 trustees as a body, for our audit work, for this report, or for the opinions we have formed. for and on behalf of Thomson Co0r. Statutory Audltorn Dunfemiline 23 December 2025
SCOTTISH MINING CONVALESCENT TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 MARCH 2025 Current financial year Total Total 2025 2023 Notes Income and endowments from: Other income 217,868 8,414 enditure on- Charitable activities 2,186 13,615 Other Expenditure 73.549 51,877 Totsl resources expended 75,735 65,492 Not Incomgllexpondlturel for th& yearl Net incominglloutgoingl resources 142,133 157,0781 other recognised gains and losses Other gains or losses 1256,2161 Net movement in funds 1114,0831 157,0781 Fund balances at 1 January 2024 114,083 171,161 Fund balances at 31 March 2025 114,083 The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
SCOTTISH MINING CONVALESCENT TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 MARCH 2025 Prior financial year Unrestrlcted Reslrlcted funds funds 2023 2023 Totsl 2023 Notes Income and endowments from- Other income 8,414 8,414 enditure on- Charitable activities other Expenditure 13,615 7,350 13,615 51,877 44,527 Total resources expended 20,965 44,527 65,492 Net Incomellexpendlturel for the yearl Net incominglloutgoingl resources 112,5511 144,5271 157,0781 other recognised gains and losses Not movement In fund$ 112,5511 144.5271 157,0781 Fund balances al 1 January 2023 126,834 44,527 171,161 Fund balances at 31 December 2023 114,083 114,083 The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
SCOTTISH MINING CONVALESCENT TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2023 Notes Fixed assets Tangible assets 10 73,549 Current assets Debtors Cash at bank and in hand 11 54,760 185 54,945 CreditoTr: amounts falling due within one year 12 114,4111 Net current assets 40,534 Total assets less current liabilitios 114,083 The funds of the Charity Unrestricted funds 14 114,083 114,083 The financial slalemenls were approved by the Trustees on 23 December 2025 Chair
SCOTTISH MINING CONVALESCENT TRUST STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2025 2025 2023 Notes Cash flows from operatlng actlvltles Cash absorbed by operalions 17 135,3771 162,0271 Invgstlng actlvltlgs Proceeds from disposal of intangibles Transfer of Property to SM Proceeds from disposal of subsidiaries 217,868 73,549 1256,2161 58,877 Net cash generated from Investlng actlvltles 35,201 58,877 Net cash used In flnanclng actlvltles Net decrease in cash and cash equivalents 11761 13,1501 Cash and cash equivalents at beginning of period 176 3,326 Cash and cash equivalents at end of period 176 Relatlng to.. Cash at bank and in hand Bank overdrafts included in creditors payable within one year 185 {91 10-
SCOTTISH MINING CONVALESCENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Accounting policies Charity inforniation The Scottish Mining Convalescent Trust is a Registered Scottish Charity SC036188 that is registered al Blair Castle, Culross, Fife, KY12 8JW. 1.1 Accounting convention The financial statements have been prepared in awrdance wrth the Charity's governing document, the Charities and Trustee Investment Iscotlandl Act 2005. the Charities Accounts (Scollandl Regulations 2006 {as amended), FRS 102 'The Finanaal Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102.1 and the Charities SORP Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. The Charity is a Public Benefit Entity as defined by FRS 102. The finan¢i81 ststemenls are prepared In 5teding, which is the functional currency of the Charity. Monetsry amounts in these financial stslemenls are rounded lo the nearest £. The financial slalements have been prepared under the historical cost convention, and to include listed investments and certain financial instruments al fair value. The principal accounting policies adopted are set out below. 1.2 Going ¢on¢em Al the time of approving the financial ststemenls, the Trustees have expect the charity lo be wound up wthin the next 12 months. The charity has already transferred the majority of the tangible assets and only the transfer of land remains. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial slalements. 1.4 Incomlng resources Income is recognised when the Charity is legally enb'tled to il after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income wll be reived. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tsx recoverable in relation to donations received under GiftAid or deeds of covenant is re¢ognised at the lime of the donation. Legacies are recognised on reIpt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as contingent asset.
SCOTTISH MINING CONVALESCENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE PERIOD ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in selllemenl, 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 lolal of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable lo 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 are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, nel of depreciation and any impaimient losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Heritable propety 2.50k reducing balance The gain or loss arising on the disposal of an asset is determined as the differen between the sale prOedS and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets Al each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any SLJ¢h indication exists, the recoverable amount of the asset is eslimaled in order to determine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowngs in current liabilities. 1.9 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Inslrurnenls, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the Charity's balance sheet when the Charty becomes party lo the contractual provisions of the instrLJmenl. Financial assets and liabilities are offset, wf(h the net amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. BasiTC financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constilules a financing transaction, where th& transaction is measured at the present value of the future reip1S discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. 12-
SCOTTISH MINING CONVALESCENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE PERIOD ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl Basic financial liabilities Basic finanaal liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Financial Iiabililies dassilied as payable thin one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenuy measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are dèrecogni5ed when the Charty's contractual obligations expire or are discharged or cancelled. 1.10 Expenditure recognition l expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned lo the applicable expenditure headings. Expenditure is recognised as Soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 1.11 Allocallon of $upport and governance Costs Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and ils compliance wth regulation and good practice. These costs include costs related lo statutory audit and legal fees together with an apportionment of overhead and support costs. Support Costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs and governance costs and are incurred directly in support of expenditure on the objects of the charity. These costs have been allocated beeen cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are on a direct basis. The allocation of support and governance costs is analysed in note 10. Other income Total 2025 Total 2023 Nel gain on disposal of intangible fixed assets Net gain on disposal of land Refunds 217.868 7,000 1,414 217,868 8,414 13-
SCOTTISH MINING CONVALESCENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE PERIOD ENDED 31 MARCH 2025 Charitable expenditure Total 2025 Total 2023 Share of support costs (see note 41 Share of governance costs (see note 41 2,186 8,815 4,800 2,186 13,615 Support costs Support Governance costs costs 2025 2023 8asls of allocatlon Depreciation Bank charges Bookkeeping and Accounts Sundry expenses 1,886 Direct allocation 1,629 Direct allocation 5,100 Direct allo¢alion 200 Direct allocation 1,227 959 1,227 959 Audit fees 4,800 Governance 2,186 2,186 13,615 Support costs Govemance costs 2023 Basis of allocation Depreciation Bank charges Bookkeeping and Accounts Sundry expenses 1,886 1,629 5,100 200 1,886 1,629 5,100 200 Direct allocation Direct allocation Direct allocation Direct allocation Audit fees 4,800 4,800 Governance 8,815 4,800 13,615 Governance costs includes payments lo the audf(ors of £4,80012023 ..£4,8001 for audit fees. The Charity initially identifies the costs of the support function. It then identifies which costs relate to the governance function. Having identified its govemance costs, the remaining support costs. together with the governan costs, are apportioned befvleen the key charitable functions undertaken in the year. Refer lo the table above for the analysis of support and governance costs. 14-
SCOTTISH MINING CONVALESCENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE PERIOD ENDED 31 MARCH 2025 Trustees The charity paid £nil12023- £nil} of trustee expenses during the year. No employee received emoluments of more than £60,000 during the year12023 '. nil) The lolal employment costs for the key management personnel was £nil12023 £nill No Trustee or other person related lo the charity had any personal interest in any contract or transaction entered into by the charity12023 .' nil) Employ99$ The average monthly number of employees during the period was.. 2025 Number 2023 Number Total The lolal remuneration paid lo key management personnel during the year was £nil12023- £nill. There were no employees whose annual remuneration was more than £60,000. other Expenditure Unrestricted Unrestricted funds funds Restricted funds Total funds 2025 2023 2023 2023 Transfer of Propety to SMI 73,549 7,350 44,527 51,877 Taxation The charity is exempt from laxalion on its activities because all ils income is applied for charitable purposes. Other gains and losses Unr9$tr1¢ted Unrg$trlctgd funds funds 2025 2023 Gainslllossesl upon.. Loan write off 256,216 15-
SCOTTISH MINING CONVALESCENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE PERIOD ENDED 31 MARCH 2025 10 Tangible fixed assets Heritable property Cost At 1 January 2024 Transfer 117,712 1117,7121 Depreciation and impaiment At 1 January 2024 Eliminated in respect of transfer 44,163 144,1631 Carrying amount Al 31 March 2025 Al 31 December 2023 73,549 11 Debtors 202S 2023 Amounts falling due within one year: Amounts due from associated enlilies 54,760 12 Credltors: amounts falllng due wlthln one year 2025 2023 Bank overdrafts Other creditors Accruals and deferred income 14,399 14,411 16-
SCOTTISH MINING CONVALESCENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE PERIOD ENDED 31 MARCH 2025 13 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as lo how they may be used. For the year ended 31 March 2025 Balance at 1 January 2024 Resources expended Tran$fers Balance at 31 March 2025 INalled Garden Project Wind Turbine Big Lottery Funding For the year ended 31 March 2024 Balance at 1 January 2023 Resources gxp8nded Transfers Balanc8 at 31 March 2024 Walled Garden Project Wind Turbine Big Lottery Funding 9,638 28,356 6,533 19.6381 128,3561 16,5331 44,527 144,5271 All assets were transferred in the prior year to Scottish Mining Welfare Trust with the same restrictions attached. Wallod gard9n prolo¢t This is a fund relating to a grant from the Coalfield Regeneration Trust for the development of a walled garden. Wind turbine This is a fund relating lo grants from the National Union of Miners and the Energy Savings Trusts wlh regards to the construction of a Wnd Turbine as a renewable energy source. Blg Lottery Fundlng- Llft This is funding which part ftjnded the costs for the instsllalion of the lift. 17-
SCOTTISH MINING CONVALESCENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE PERIOD ENDED 31 MARCH 2025 15 Analysis of net assets between funds Uresrlcted Unrestricted Restricted Funds funds funds 2025 2023 2023 Total 2023 Fund balances at 31 March 2025 are represented by.. Tangible assets Current assets 73,549 40,534 73,549 40,534 114,083 114,083 16 Related party transactions Other than that disclosed in Note 10, there were no disclosable related party transactions during the period {2023- none). 17 Cash absorbed by operations 2025 2023 Surpluslldeficill for the period 142,133 157,0781 Adjustments for- Gain on disposal of tangible fixed assets Gain on disposal of Intangible assets Depreciation and impairment of tangible fix assets 17,0001 1217,8681 1,886 Movements in working capitsl.. Decreasellincreasel in debtors IDecreasellincrease in creditors 54,760 114,4021 {2.2601 2,425 Cash absorbed by operations 135,3771 162,0271 18 Analysis of changes in net debt The Charity had no material debt during the year. 19-