## **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: 1. Offering to children a medium (therapeutic play) to express the emotions associated with their loss; 2. Helping children to understand the effects of mourning on their lives; 3. Offering support to the whole family by means of a range of information and access to other agencies; 4. Providing information and training to professionals working with children who have been bereaved. The Objectives for Richmond's Hope are: 1. To provide 1:1 sessions for at least 200 children each year; 2. To offer every child the opportunity to meet other bereaved children in a group setting; 3. 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; 4. 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: 1. School attendance and attainment; 2. Health and wellbeing; 3. Ability to talk about the deceased; 4. Ability to express constructively the emotions associated with the death; 5. 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. Cu￿entlY 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 resp￿sIble 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 1. which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and - to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or 2. 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**