RICHMOND'S HOPE
(A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SCOTTISH CHARITY NUMBER SC036720
Cahill Jack Associates Limited Chartered Accountants and Registered Auditors 91 Alexander Street Airdrie ML6 OBD
RICHMOND'S HOPE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| CONTENTS | |
|---|---|
| PAGE | |
| Legal and administrative information | 2 |
| Report of the Trustees and Strategic Report | 3 - 8 |
| Report of the Independent Examiner | 9 |
| Statement Of Financial Activities (incorporating Income and Expenditure Account) | 10 |
| Balance Sheet | 11 |
| Cashflow Statement | 12 |
| Notes to the Financial Statements | 13 - 20 |
Page 1
RICHMOND'S HOPE
LEGAL AND ADMINISTRATIVE INFORMATION
INDEPENDENT EXAMINER
Cahill Jack Associates Limited Chartered Accountants 91 Alexander Street Airdrie ML6 OBD BANKERS TSB Edinburgh 28 Hanover Street EH2 2DS
SCOTTISH CHARITY NUMBER SC036720
Page 2
RICHMOND'S HOPE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report and the financial statements for the year ended 31 March 2025.
The report complies with the recommendations of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) effective 1 January 2019.
Objectives and activities a. Aims, objectives and outcomes
The Aim for Richmond's Hope
It is the Charity's aim to make Richmond's Hope a place where bereaved children can work through their grief and have the support, information and help to allow them to manage the impact of death in their lives.
This will be achieved by:
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Offering to children a medium (therapeutic play) to express the emotions associated with their loss;
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Helping children to understand the effects of mourning on their lives;
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Offering support to the whole family by means of a range of information and access to other agencies;
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Providing information and training to professionals working with children who have been bereaved.
The Objectives for Richmond's Hope are:
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To provide 1:1 sessions for at least 200 children each year;
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To offer every child the opportunity to meet other bereaved children in a group setting;
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To provide support for parents and continue to develop other ways of supporting the whole family and to offer an opportunity for the whole family to meet in a therapeutic environment;
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To provide concise and clear information to parents, carers and professionals.
The Outcomes by which Richmond's Hope will measure performance include monitoring improvements in the following areas:
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School attendance and attainment;
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Health and wellbeing;
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Ability to talk about the deceased;
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Ability to express constructively the emotions associated with the death;
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Improved family relationships.
Page 3
RICHMOND'S HOPE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance
a. The Work of Richmond’s Hope: 2024-2025
During this year, Richmond’s Hope offered services in five different locations, two of these, at Ibrox/Pentagon Centre (Glasgow) and Craigmillar (Edinburgh) being staffed for 5 days a week. A satellite base is maintained in Dalkeith (Midlothian) using staff from the Edinburgh base. Our permanent base in Methil is based at Wellesley Centre and a new permanent base at the Bleachingfield Centre in Dunbar, part-funded by local community partners, was opened in October 2024 with two part-time staff working 2 days a week.
Due to increased demand for our services & growing staff numbers and as Ibrox Parish Church sanctuary would be sold, our Glasgow office moved into new premises at the Pentagon Business Centre on Washington Street in Glasgow City Centre in October 2024. Our new office has two purpose-built rooms located within a suite at the Pentagon which are used solely by Richmond’s Hope staff.
The Board is very grateful for the cooperation and support of local parties in all of these places. The Board met regularly throughout the year to deal with business, the October meeting was also the Annual General Meeting.
Support for Children and Young People
Over the year 2024-25, Edinburgh, Midlothian & East Lothian bases received 130 referrals of children and young people. 85 children received face-to-face support sessions (some having been referred the previous year). A further 35 assessments resulted in families not attending their appointment, 68 declined their assessment appointment either from receiving their appointment or during the six-monthly phone check in by staff. A further 14 did not pass assessment either refusing support or already having support in place. During the same period, 103 referrals were received at the Glasgow base, with 71 receiving support and a further 5 having been assessed but not proceeding to sessions. Our Fife base received 37 referrals with 20 children receiving face to face support sessions.
Due to a significant increase in the number of missed assessments without prior notice, we will be introducing a small charge to help manage this issue and ensure our services remain accessible and effective for all families. From April 2025 if a booked assessment is missed without at least 48 hours’ notice and a new assessment is then requested, a £10.00 charge will be required before another appointment can be scheduled. A Family Day was held at Wiston Lodge in August 2024 attended by 7 families. A memorial event was held in Glasgow in November 2024, to which families who had been service users in recent years were invited. 42 people attended representing16 families. In February 2025 we held a torchlit procession & bonfire at Duddingston Kirk. This “A Night to Remember” was well attended by 65 individuals and funded by the Jasmine Macquaker Charitable Fund.
Staffing
There have been some changes both in personnel and in the shape of the staff team throughout the year. It is worth noting that the kind of work which our Therapeutic Grief Practitioners do from day-to-day requires significant resilience, given the many and often harrowing circumstances which the children and young people present in sessions. Richmond’s Hope seeks through regular supervision and support to ensure that our staff receive the necessary support themselves to undertake the challenging work they do. The Management Team during the year comprised the Chief Executive the Admin & Finance Office ; the Fundraiser & Development Officer the Bereavement Coordinator and the Team Lead West until January 2025).
started on a temporary contract as Admin and Finance Officer in November 2023 and was employed on a permanent basis in February 2024. skillset and experience in IT and office systems has greatly improved the efficiency of our administrative operations.
To better reflect the therapeutic nature of our service delivery, we have updated the title of our Bereavement Support Workers to Therapeutic Grief Practitioners. This change acknowledges the depth and clinical significance of the support they provide to individuals experiencing grief. Please note that this is a title change only. Salary, terms, and conditions of employment remain unchanged.
Senior Therapeutic Grief Practitioners
The Bereavement Coordinator now oversees the Bereavement Support Teams across all bases and the Senior Therapeutic Grief Practitioners were appointed in January 2025. The Senior Therapeutic Practitioner have line management responsibility of the Therapeutic Grief Practitioners and are Designated Child Protection Officers.
Edinburgh
In Edinburgh, a Full-Time Therapeutic Grief Practitioner went on maternity leave in September 2024. We appointed a full-time Therapeutic Grief Practitioner in April 2024 and another full-time Therapeutic Grief Practitioner in August 2024 for maternity leave cover.
Page 4
RICHMOND'S HOPE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
Glasgow
was appointed as Team Lead (West) after left in January 2024 subsequently left her post in January 2025 after being offered a place on the Clinical Applied Psychology course. Due to ill health a Therapeutic Grief Practitioner resigned their post in May 2024 and we recruited a Full-Time Therapeutic Grief Practitioner in August 2024. The Glasgow base currently has a full-time Senior Therapeutic Grief Practitioner & a full-time Therapeutic Grief Practitioner. We have appointed a part-time Therapeutic Grief Practitioner (24 hours) who will start employment in April 2025.
Fife
A Part-Time Therapeutic Grief Practitioner (16 hours) was recruited in September 2024 to work alongside the Senior Therapeutic Grief Practitioner at the Wellesley Centre in Methil. An Outreach Worker is offering sessions in Levenmouth Academy one day a week on a secondment basis.
East Lothian
Two Part-Time Therapeutic Grief Practitioners (16 hours) were recruited to work from our Dunbar base in August 2024. From February 2025, one of these Therapeutic Grief Practitioners has also been seeing children from our Edinburgh base 2 days a week.
Fundraising
Our Fundraiser & Development Officer continues to explore diverse funding opportunities through grants, corporate partnerships, and community fundraising. We have built strong relationships with current funders, provide regular impact reports, and explore longer-term funding agreements to enhance financial stability. Alongside this, we have seen a significant increase in Richmond’s Hope’s families’ & supporters organising innovative & inspiring fundraising challenges to ‘give back’ & thank Richmond’s Hope for the support the charity has given them. Over the past year £45,000 was raised online which is an increase of 114% from 2023/24 (£21,000).
Current and Future Funding
In addition to the principal sources of funding listed in the financial review, a number of other sources of funding have been made available during the financial year. Walter Scott Group continue their funding of £30,000 a year and part-funded the new service in East Lothian. We were nominated as the University of St Andrew’s local charity of the year and a new corporate partnership was developed with Slater Gordon to support work in Fife.
Results for the year
Results for the year ended 31 March 2025 are given in the Statement of Financial Activities. The assets and liabilities are given in the Balance Sheet. The financial statements should be read in conjunction with the related notes which appear after the Balance Sheet.
The Trustees regard the financial position of the Charity at 31 March 2025 to be satisfactory and they are content that the current accumulated unrestricted reserves position leaves it with a sound base from which future activity can be built.
In summary income amounted to £432,004 (2024 - £389,911), expenditure totalled £514,770 (2024 - £466,001) resulting in a deficit for the year of £82,766 (2024 - deficit of £76,090).
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
There is a policy whereby reserves freely held for the purposes of meeting the principal objectives of Richmond's Hope should be maintained at a level equivalent to 3-6 months of unrestricted expenditure (in the event that regular grant income and other donations were to be reduced).
Based on the 2025 figures, 3 months unrestricted expenditure amounted to £50,523 therefore this level of reserves has been maintained. The board is currently reviewing policies in place to ensure our level of reserves continues to be maintained and increased going forward.
Page 5
RICHMOND'S HOPE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
c. Principal Funding Sources
Agreements with local authorities. Both Midlothian and Edinburgh City Council support work in this way (£18,000 and £48,000 respectively), with targets set for the number of children we are expected to see. We are currently awaiting confirmation that our funding from City of Edinburgh Council will be extended beyond August 2025.
It is worth noting that core funding from Scottish Government (£88,586) was extended until March 2026. This flexible funding has been transformational for the children and families we work with.
In Glasgow our principal source of income over the last year continued to be in the form of grants from the National Lottery.
d. Investment Policy
Aside from retaining a prudent amount in reserves each year most of the charity's funds are spent on direct service delivery therefore there are only limited funds available for investment. We continue to consider other investments streams, but the current financial situation means that interest rates are almost negligible across the markets.
e. Risk Management
The Board of Trustees at Richmond's Hope regularly review the risks which could be potentially damaging to the organisation. In summary all necessary actions have been taken (including a number of internal controls/procedures) to mitigate the risks facing Richmond's Hope.
The Board is delighted with the progress made in broadening the scope of the work with children and young people. It is clear from the many contacts which we receive throughout the year that there is considerable scope to expand the reach of Richmond’s Hope, but this needs to be carefully done within our means.
Page 6
RICHMOND'S HOPE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management
a. Governance
Richmond's Hope was incorporated and registered as a charity on 2 August 2005 with the Office of Scottish Charities Regulator (OSCR). The company was established under a Memorandum of Association which established the objects and powers of the charitable company and was governed by its Articles of Association. From 7 March 2022, Richmond’s Hope was established as a Scottish Charitable Incorporated Organisation (SCIO), having lodged its approved Constitution with OSCR. The charity retains its existing Scottish charity number: SC036720. Copies of the Constitution are available on application to the Edinburgh office, which remains the registered base for the charity. The Trustees, who are also the Directors for the purpose of company law, and who served during the financial year and up to the date of signature of the financial statements were:
b. Recruitment and Appointment to Board of Trustees
Under the requirements of the Constitution the members of the Board / management committee will serve for a period of a maximum 3 years after which they must stand down or be re-elected at the next Annual General Meeting.
Due to the nature of the Charity's work the Board of Trustees are drawn from the church, the areas in which the project operates and those with either practical experience of working with children or who have experience of loss and bereavement themselves.
The Board will continue actively to seek people that represent the areas in which it works, those with a specific professional or lay interest in bereavement support for children and those with wider business acumen. The Board will ensure an inclusive policy on recruitment to ensure equity and diversity.
c. Organisational structure and decision-making policies
The Board is a committee of between nine and fifteen who meet every 6-8 weeks and are responsible for agreeing the strategic direction and policy of the Charity.
Day to day responsibility for the management of Richmond's Hope rests with the Management Team under the supervision of the Chief Executive and the guidance of the Board Chair. The Management Team is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Bereavement Coordinator provides supervision and support to the Therapeutic Grief Practitioners within the charity ensuring that good practices are maintained and staff are given the opportunity to develop their skills and knowledge.
Page 7
RICHMOND'S HOPE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 stTUCtuie, govemance and management d. Inductlon and Tralnlng for Board of Dlrectors Richmond's Hope undertakes to provide induction to its work and a training process for the Board of Directors. This is provided at regular intervals to both new trustees and to the Board as a whole, emphasising the roles and responsibiltties of Directors. Updates on any new regulations rdating to go¢)d practice in charity governance are provided as and when required. e. Related Partles In so far as it is complementary to the charitls objects. the charity is guided by both local and national policy in relation to bereavement support children and families. CuentlY there is little by way of national policy on the subject of bereavement support for children and therefore Richmond's Hope continues to have good links with other similar service providers both at local and national levels. The Bereavement Coordinator is involved in national steering group for introducing bereavement to the school curriculum. Ridimond's Hope endeavours to participate in a variety of netsvorks. These variously include association with CRUSE, the Royal Hospital for Sick Children in Edinburgh, Child and Adolescent Mental Health Service (CAMHS), The Child Bereavement NebNork, Child Bereavement UK, the Maggie's Centres, Rachel House, local health care staff, local education staff, social work departments, St Columba's Hospice in Edinburgh and The Prince and Princess of Wales Hospice in Glasgow, neral directors and others. Staff from Richmond's Hope also offer basic training as requested for professionals who in the course of their work encounter children who have SLrffered bereavement. As a result of the network memberships, Richmond's Hope has been invited to join steering groups for the National Bereavement Neiknorking event, the Bereavement Charter events and the Bereavement Coordinator has been invited to present workshops at conferences. statement of Trustees. responsibilities The Trustees are respsIble for preparing the Trustee's Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pradice). Charty law requires the Trustees to prepare financial statements for each financial year. Under charity law, the Trustees must not approve the financial statements unless they are satisfied that they give a twe and fair view of the stste of affairs of the Charity and of rts incoming resources and application of resources, induding its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently. ' observe the methods and principles of the Charities SORP (FRS 102)" make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102} have been followed. subject to any material departures disdosed and explained in the financial statements- ' prepare the financial statements on the going concem basis unless ti is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the Charitys constitution. They are also responsible for safeguarding the assets of the Chartty and hence for taking reasonable steps for the prevention and detection of fraud and other irregulartlies. Approved by order of the members of the Board of Trustees and signed on their behalf by. Dated: 11 September 2025 Page 8
INDEPENDENT EXAMINERS’ REPORT TO THE MEMBERS OF RICHMOND'S HOPE FOR THE YEAR ENDED 31 MARCH 2025
I report on the accounts of the Charity for the year ended 31st March 2025 which are set out on pages 10 to 20.
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.
The Charity 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 independent examiner’s statement
My examination is 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 seeks explanations from the 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 the course of my examination, no matter has come to my attention
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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
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
CA Institute of Chartered Accountants of Scotland
Cahill Jack Associates Limited 91 Alexander Street Airdrie ML6 0BD
Dated: 11 September 2025
Page 9
RICHMOND'S HOPE
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR TO 31 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies: 2.1 Income from charitable activities: 2.1 Income from other trading activities 2.1 Investment income 2.1 Total incoming resources EXPENDITURE 2.2 Costs of generating funds: Expenditure on raising donations, legacies and grants Expenditure on charitable activities: Running costs of Charity Other costs Total resources expended Net income/(expenditure) and net movement in funds for the year Transfers between funds 7 Reconciliation of funds Net movement in funds 8 Total Funds brought forward Total Funds carried forward |
Restricted Unrestricted Restricted Unrestricted Funds Funds 2025 Funds Funds 2024 Total Total Total Total Total Total £ £ £ £ £ £ 132,145 193,471 325,616 172,429 116,225 288,653 66,850 - 66,850 71,210 - 71,210 - 33,444 33,444 - 30,047 30,047 - 2,867 2,867 - - - |
|---|---|
| 198,995 229,782 428,777 243,639 146,272 389,911 |
|
| - 418 418 - 360 360 306,572 195,986 502,558 195,144 254,586 449,730 - 5,689 5,689 - 15,911 15,911 |
|
| 306,572 202,092 508,664 195,144 270,857 466,001 |
|
| (107,577) 27,689 (79,888) 48,495 (124,585) (76,090) - - - - - - |
|
| (107,577) 27,689 (79,888) 48,495 (124,585) (76,090) 107,577 77,401 184,978 59,082 201,985 261,067 |
|
| (0) 105,090 105,090 107,577 77,401 184,977 |
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
Page 10
RICHMOND'S HOPE BALANCE SHEEr AS AT 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible fixed assets 23,073 24,849 CURRENT ASSEfs - due within one year other debtors Current investments Cash at bank and in hand 14,491 13.299 83.925 150.623 98.416 163.921 CREDITORS - amounts falllng due wlthln one year other creditors and accruals {16.399) 13.7941 NET CURRENT ASSETS 82,017 160.128 NET ASSETS 105,090 184.977 FUNDS Unrestricted funds General Fund Designated Funds 105,090 TT,401 105,090 77,401 Restricted funds 107.577 TOTAL FUNDS 105,090 184.977 The notes at pages 13 to 20 fo part of these accounts The financial statements were approved by the Board and were sKJned on ts behalf by. Dated: 11 September 2025 Page 11
RICHMOND'S HOPE
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR TO 31 MARCH 2025
| Notes Cash flows from operating activities Net cash generated from operating activities 11 Cash flows from investing activities Purchase of Fixed Assets Transfer of funds to Fixed Asset Investment fund Change in cash and cash equivalents in the year Cash and cash equivalents brought forward Cash and cash equivalents carried forward 12 |
2025 £ (51,732) (14,966) - (66,698) 150,623 83,925 |
2024 £ (53,181) (961) - |
|---|---|---|
| (54,142) 204,766 |
||
| 150,623 |
Page 12
RICHMOND'S HOPE
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 MARCH 2025
1 ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are given below.
General Information
The Charity is a Scottish Charitable Incorporated Organisation.
Trustee details and registered office information is given on the information page with the accounts.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended), Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.
The presentation currency is pound sterling.
Richmond's Hope meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
1.2 Preparation of the accounts on a going concern basis
At the time of approving these financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for at least the next 12 months from the date of signing these financial statements and therefore continue to adopt the going concern basis of accounting.
1.3 Incoming resources
Government and other grants
Grants of a revenue nature are recognised in full in the Statement of Financial Activities in the period which they relate to. Grants received towards the costs of the Charity’s general programme are added to unrestricted funds. Grants received towards specific types of expenditure are added to restricted funds. Grants of a capital nature are allocated to a designated fund. The related asset is capitalised and the associated depreciation charge is then set off against the designated fund. Grants relating to specific periods are included within deferred income where the period is after the year end.
Donations, legacy and fundraising income
Voluntary income and donations are accounted for by the Charity as received, except when the donors specify that they must be used in future accounting periods or donors conditions have not been fulfilled then the income is deferred. Legacy income is recognised when receipt is probable and the amount can be accurately determined. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. Donations, legacies or fundraising income received for a particular purpose are treated as restricted funds.
Investment income
Investment income is included in the statement of financial activities in the year in which it is received. Investments held are all cash in nature.
1.4 Expenses
All expenditure is included on an accruals basis and is recognised where there is a legal or constructive obligation to pay for expenditure. Where possible individual costs have been directly attributed to specific activities and expended in the SOFA against the fund that they relate to. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a on a basis consistent with the split of employee hours spent on the various activities. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
The Charity is exempt for VAT and as a result some expenditure is shown gross of irrecoverable VAT.
Page 13
RICHMOND'S HOPE NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 MARCH 2025
1 ACCOUNTING POLICIES - continued
1.4 Expenses - continued
Pension costs
The Charity contributed to a defined contribution pension scheme. The assets of this scheme are held separately from those of the Charity and have been invested with an insurance Charity. Pension costs charged in the SOFA represent the contributions payable by the Charity in the year.
Fundraising costs
Fundraising expenditure comprises costs incurred in inducing people and organisations to contribute financially to the Charity's work. This includes the cost of campaigning for donations and funding, raising awareness of the Charity and the staging of special fundraising events.
Depreciation of tangible assets and capitalisation
Provision is made for depreciation on all tangible assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:
Fixtures and fittings 25% - 33.3% straight line basis Leasehold property 10% straight line
Tangible fixed assets costing £200 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Operating leases
Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease.
Grants payable
Grants payable represent amounts given to other organisations specifically for the purpose of achieving the Charity's objectives. Amounts included within the accounts represent amounts due for the year. Grants payable for future periods are included within creditors.
1.5 Fund accounting
Restricted funds are funds which are used in accordance with specific restrictions imposed by the donors or which have been raised by the Charity for particular purposes.
Other charitable funds are unrestricted funds which are available for use at the discretion of the Board Members in furtherance of the general objectives of the Charity.
The nature and purpose of each restricted fund is as detailed in note 7 to the accounts.
1.6 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. These are identified as debtors and creditors with no stated interest rate and receivable or payable within one year. Cash and cash equivalents are comprised of cash at bank and in hand.
These basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Page 14
RICHMOND'S HOPE
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 MARCH 2025
1 ACCOUNTING POLICIES - continued
1.7 Taxation
Richmond's Hope is recognised as a Charity for the purposes of Section 505, Income and Corporation Taxes Act 1988 and exemption under Section 1(7) of the Charities and Trustee Invetsment (Scotland) Act 2005. There is no liability for Corporation tax for the year as a result.
1.8 Cash and cash equivalents
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less form the date of acquisition or opening of the deposit or similar account.
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event. It is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability.
The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 15
RICHMOND'S HOPE
NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR TO 31 MARCH 2025
| 2.1 INCOME BREAKDOWN Donations and legacies Grants and donations received General grants provided by government Bank of Scotland Foundation National Lottery Community Fund Walter Scott and Partners People's Postcode Trust The Robertson Trust Corra Fund Henry Duncan Jasmine Macquaker Charitable Fund Merchants House Glasgow HSCP East Lothian Educational Trust East Lothian Council - East Lothian Area Partnership Begreen Dunbar Cocksburnpath Cove Council Community Benefit - East Lothian Scottish Government Grant Income from Chaitable Activities Performance related grants - City of Edinburgh Council SLA Midlothian Council SLA Income from other trading activities Income from fundraising by and on behalf of the Charity Investment income Interest received Total incoming resources |
Restricted Unrestricted 2025 Restricted Unrestricted 2024 £ £ £ £ £ £ 81,740 81,740 43,375 43,375 23,145 23,145 6,881 6,881 - - 24,463 24,463 41,725 41,725 40,993 40,993 30,000 30,000 33,473 33,473 - - 25,000 25,000 25,000 25,000 27,500 27,500 8,000 8,000 8,000 8,000 3,000 3,000 3,000 3,000 - - 10,000 10,000 1,420 1,420 5,000 5,000 5,000 5,000 4,000 4,000 9,000 9,000 - 88,586 88,586 - 65,969 65,969 |
|---|---|
| 132,145 193,471 325,616 172,429 116,225 288,653 |
|
| 48,000 - 48,000 52,460 - 52,460 18,850 - 18,850 18,750 - 18,750 |
|
| 66,850 - 66,850 71,210 - 71,210 |
|
| - 33,444 33,444 - 30,047 30,047 |
|
| - 33,444 33,444 - 30,047 30,047 |
|
| - 2,867 2,867 - - - |
|
| - 2,867 2,867 - - - |
|
| 198,995 229,782 428,777 243,639 146,272 389,911 |
Page 16
RICHMOND'S HOPE
NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR TO 31 MARCH 2025
| 2.2 EXPENSES BREAKDOWN Restricted Unrestricted 2025 Restricted Unrestricted £ £ £ £ £ Costs of generating funds: Expenditure on raising donations, legacies and grants: Credit card machine and online donation charges 418 418 360 - 418 418 - 360 Expenditure on charitable activities: Running costs of Charity: Payroll cost gross 260,244 78,105 338,349 135,180 167,779 Social Security - 27,079 27,079 26,590 - Employer pension contributions - 15,784 15,784 3,308 12,528 Volunteer Recruitment Costs - - - Rent and rates and Insurance 35,413 2,093 37,506 18,000 14,076 General expenses 409 409 978 Printing stationery postage and advertising 170 4,412 4,581 2,880 Payroll preparation costs 1,498 1,498 1,139 Server support Costs - Telephone 349 823 1,172 4,064 Activities and travelling expenses 6,244 9,497 15,741 3,150 18,208 Staff training 2,918 4,094 7,012 - 4,122 Repairs and IT costs - 28,518 28,518 5,400 9,294 Subscriptions 3,323 3,323 4,618 Supervision costs 1,200 3,482 4,682 - 3,157 Depreciation - 16,742 16,742 3,516 11,590 Bank charges 162 162 151 306,537 196,021 502,558 195,144 254,586 Other Governance costs: Legal and professional 34 1,814 1,849 - 12,311 Independent examiner's fee - 3,840 3,840 - 3,600 34 5,654 5,689 - 15,911 Total expenses 306,572 202,092 508,664 195,144 270,857 3 STAFF COSTS AND TRUSTEES' REMUNERATION 2025 £ Employment Costs Wages and salaries 338,349 Social Security costs 27,079 Pension costs 15,784 381,212 The average weekly number of staff employed was as follows: Total 14 14 No employee received remuneration of more than £60,000 and no trustees' remuneration was paid. During the year, no Trustees received any remuneration or other benefits (2023 - £Nil). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £Nil). Total remuneration of the key management personnel 49,134 |
Restricted Unrestricted £ £ 418 |
2025 Restricted Unrestricted £ £ £ 418 360 |
2024 £ 360 |
|---|---|---|---|
| - 418 |
418 - 360 |
360 | |
| 260,244 78,105 - 27,079 - 15,784 - 35,413 2,093 409 170 4,412 1,498 349 823 6,244 9,497 2,918 4,094 - 28,518 3,323 1,200 3,482 - 16,742 162 |
338,349 135,180 167,779 27,079 26,590 - 15,784 3,308 12,528 - - 37,506 18,000 14,076 409 978 4,581 2,880 1,498 1,139 - 1,172 4,064 15,741 3,150 18,208 7,012 - 4,122 28,518 5,400 9,294 3,323 4,618 4,682 - 3,157 16,742 3,516 11,590 162 151 |
302,959 26,590 15,836 - 32,076 978 2,880 1,139 - 4,064 21,358 4,122 14,694 4,618 3,157 15,106 151 |
|
| 306,537 196,021 |
502,558 195,144 254,586 |
449,730 | |
| 34 1,814 - 3,840 |
1,849 - 12,311 3,840 - 3,600 |
12,311 3,600 |
|
| 34 5,654 |
5,689 - 15,911 |
15,911 | |
| 306,572 202,092 |
508,664 195,144 270,857 |
466,001 | |
| 2024 £ 302,959 26,590 15,836 |
|||
| 345,386 | |||
| 14 | |||
| 14 | |||
| 49,134 |
Page 17
RICHMOND'S HOPE
NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR TO 31 MARCH 2025
| 4 INVESTMENT INCOME Bank interest received in the UK see note 2.1 Leasehold 5 FIXED ASSETS Property Cost: £ At 1st April 2024 215,206 Disposals - Additions At 31st March 2025 215,206 Depreciation: At 1st April 2024 191,760 On disposals - Charge for the year 10,903 At 31st March 2025 202,664 Net book value At 31st March 2025 12,542 Net book value At 31st March 2024 23,445 6.1 CURRENT ASSETS Other Debtors Trade Debtors Prepayments and accrued income Bank Deposit Accounts 6.2 CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR Other taxes and social security Other creditors and accruals Deferred Income Movement during the Year Deferred Income brought forward Resources deferred during the year Amounts released from previous periods Deferred Income carried forward |
Leasehold Property £ 215,206 - |
Leasehold Property £ 215,206 - |
2025 £ 2,867 2,867 Fixtures and Fittings £ 71,133 - 14,967 86,100 69,730 - 5,839 75,569 10,531 1,403 2025 £ 10,420 1,192 2,879 14,491 83,925 83,925 2025 £ 6,302 10,097 16,399 - - - - |
2024 £ - |
|
|---|---|---|---|---|---|
| - | |||||
| Total £ 286,339 - 14,967 |
|||||
| 215,206 | 301,306 | ||||
| 191,760 - 10,903 |
261,490 - 16,742 |
||||
| 202,664 | 278,233 | ||||
| 12,542 | 23,073 | ||||
| 23,445 | 24,849 | ||||
| 2024 £ 10,420 - 2,879 |
|||||
| 13,299 | |||||
| 150,623 | |||||
| 150,623 | |||||
| 2024 £ - 3,794 |
|||||
| 3,794 | |||||
| - - - |
|||||
| - |
Page 18
RICHMOND'S HOPE
NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR TO 31 MARCH 2025
| 7 RESTRICTED FUNDS City of Edinburgh Council SLA Midlothian Council SLA People's Postcode Trust Walter Scott and Partners Bank of Scotland Foundation National Lottery Communities Fund The Robertson Trust Corra Fund Henry Duncan Jasmine Macquaker Charitable Fund Merchants House Glasgow HSCP East Lothian Educational Trust East Lothian Council - East Lothian Area Partnership Begreen Dunbar Cocksburnpath Cove Council Community Benefit - East Lothian Other Restricted Funds Capital Total UNRESTRICTED FUNDS Total Details of restricted funds: Name of fund/provider City of Edinburgh Council Midlothian Council People's Postcode Trust Walter Scott and Partners Bank of Scotland Foundation National Lottery Communities Fund The Robertson Trust Corra Fund Henry Duncan Jasmine Macquaker Charitable Fund East Lothian Council Merchants House Other Restricted Funds Transfers between Funds |
Total Incoming Charitable Transfers Total Total Incoming Charitable Transfers Total Funds Resources Expenditure Between Funds Funds Resources Expenditure Between Funds b/fwd Funds c/fwd b/fwd Funds c/fwd 2025 2025 2025 2025 2025 2024 2024 2024 2024 2024 £ £ £ £ £ £ £ £ £ £ - 48,000 (48,000) - - 52,460 (52,460) - - 18,850 (18,850) - - 18,750 (18,750) - - - - - 5,338 25,000 (30,338) - 48,465 30,000 (78,465) - 30,000 33,473 (15,008) 48,465 33,491 - (33,491) - 10,193 24,463 (1,165) 33,491 25,621 41,725 (67,346) - 10,035 40,993 (25,408) 25,621 - 25,000 (25,000) - - 27,500 (27,500) - 8,000 (8,000) - 8,000 (8,000) - 3,000 (3,000) - 3,000 (3,000) - - - - 10,000 (10,000) - 1,420 (1,420) - 5,000 (5,000) - 5,000 (5,000) - 4,000 (4,000) - 9,000 (9,000) - - - - 3,516 (3,516) - |
|---|---|
| 107,577 198,995 (306,572) - (0) 59,082 243,639 (195,144) - 107,577 |
|
| 77,401 229,782 (202,092) - 105,090 201,985 146,272 (270,857) - 77,401 |
|
| 184,978 428,777 (508,664) - 105,090 261,067 389,911 (466,001) - 184,977 |
|
| - Purposes of fund Unless stated otherwise, all funds are for the purpose of staff costs. The Jasmine Macquaker Charitable Fund grant was to help with the Torchlight Memorial Event held during the year The East Lothian Council fund was established to fund expansion into the East Lothian area and covers setup costs and salaries. Other restricted funds consists of funds which have been spent either in full or in part on a capital item. These funds reduce in line with depreciation charged each year. Transferred from general funds to cover the overspend. |
| 8 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances at 31 March 2025 are represented by: Tangible fixed assets Cash at bank and in hand Creditors due within one year 10 LEASING AND CAPITAL COMMITMENTS Operating lease commitments Minimum lease payments fall due to be paid as follows: Within 1 year Between 1 and 5 years |
Restricted Unrestricted 2025 Restricted £ £ £ £ 12,184 10,889 23,073 13,960 (12,184) 110,600 98,416 93,616 (16,399) (16,399) |
Unrestricted 2024 £ £ 10,889 24,849 70,305 163,921 (3,794) (3,794) |
|---|---|---|
| (0) 105,090 105,090 107,577 |
77,400 184,977 |
|
| 2025 2024 £ £ 10,000 10,000 3,333 13,333 |
||
| 13,333 23,333 |
The Charity pays £10,000 per annum for rental of premises in Glasgow. (Ibrox Parish Church)
Capital commitments:
There were no capital commitments outstanding at the year end (2024: nil).
Page 19
RICHMOND'S HOPE
NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR TO 31 MARCH 2025
| 11 | Reconciliation of net movement in funds to net cash flow from operating activities | Reconciliation of net movement in funds to net cash flow from operating activities | |
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Net income for the year (as per Statement of Financial Activities) | (79,888) | (76,090) | |
| Adjustment for: | |||
| Depreciation | 16,742 | 15,106 | |
| (Increase)/decrease in debtors | (1,192) | 12,810 | |
| Increase/(decrease) in creditors | 12,605 | (5,008) | |
| Net cash used in operating activities | (51,732) | (53,181) | |
| 12 | Analysis of cash and cash equivalents | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Cash in Bank and in hand brought forward | 150,623 | 204,766 | |
| Movement in Bank and cash on hand | (51,732) | (53,181) | |
| Purchase of tangible fixed assets | (14,966) | (961) | |
| Cash at bank and in hand carried forward | 83,925 | 150,623 |
Page 20