CHARITY REGISTRATION NUMBER: SC037876 Glasgow Royal Infinnary Dorcas Charitable Trust Financial Statements 31 October 2024 Glasgow Royal Infirmary Dorcas Charitable Trust Flnancial Statements Year ended 31 OCto￿r 2024 Page Truslees, annual rewt Independent auditors rerort to the members Stsl8ment of financial 2CtNities 10 Stat￿ment ol financial posit¥)n 11 Notes to the financial stat4nents 12 The following pag8s do not fomi part ofthe finandal statements Detarled slatemenl of finanual &tNit Notes to the detaI￿d stalem8nt offinar￿1 ¥twit Glasgow Royal Infimiary Dorcas Charltable Trust Trustges. Annual Report Year ènded 31 October 2024 The truslees preS￿t their and the finanaal slalemenls of th& charty for the year ended 31 October 2024. Chalfs report The committee pleased to preswrt an acLount of ther actNiti88 frLYn 1st Noven*er 2023 to 31st Ocaober 2024. The learoom, managed by ￿ contlnues to prowdB an Bxcdlenl and afforda￿8 sery lo its loyal and appreaalive cuslcm￿rs. The learco)m has benefrtgJ from t1￿ aLldrtion of a new dishwas￿r. fina has provided new menu OFlk)n5, indudin9 vagan ￿p$ and thue hag been a Inslgtement of Mthfs Cateiing. Tumover levels have increased o¥*r the year *)d our mwgln has improved. A 3¥0 pite iThxease in Jurk hgs to u9 remaining competitrwfr whil8 relainin our rofil margins. The 8tock take was perfomrd Friday 3rd NovwA)er 2023 lo dhess. ha5 been appointed as 8 fi￿t-akler in the Tearm. have changed the unrforms of the Tearoom asslstanl$ to a black enkniilered 1-s￿rt and an apron. The temporary dosur6 of Smith awj the 3-week closure of Aroma Café Incre88ed ftsoifan a short period of time. In Febru￿ there w88 a small fbc49 n the Tearwm fr￿n the area. EstatBB T88￿￿J&1 qu*kty and r8palrs were ¢￿ted. The Te8rwm remains very bJ8y. We thank tho fdends of GRI the loan of a wate￿rbY ￿ We are grateful to Tina ar¥J her staff fr)r thdr conlinu8d kiy81ty 8nd hard ivotk. We woukl like lo thank the Estates Department, the Pc¥ters and the cleaning staff of fhe Royat InffmHy 811 help wth th6 srMK)th Nnning of t tearoom. Thanks lo Sally and SKI)han for their day to day help with Tearocvn staffing matters. In Juno we thwjed to re￿￿e staff io offergrants to W8rtl¥ and depariments than Ihe ck*hing )om. The requkthnl Is that they the cwe and ¢[￿fort cl the patients of the Royal Infwrnary. A de¢isK+n vas made to supply pckets dwectty to IM)ThthJ liaison. Six j*k&s to be suppIBJ and storad In hcffi8￿8l18i8On. them for Ihcir efficieic and industry. The demgnds on the ¢bthing IQDM have ncrea5ed and we thank for Iheir hard work A $rieablg thnatiC￿ of dothin9 and toiletriss was grthfulty recetwed from the Phry DepartrrEntof GRI. We continue to b8 wel sery8d b￿arMI staff at Nthn GI￿Th￿r Smlth wovklry us with bookkeepiro, &x￿jnIing, payroll an£ VAT admiriislration seThtis as wel as advising and aost8llng on rnany issues. Thanks also lo￿Our Admin Se•, for ￿ haid w￿k and posf(ve epproach. We'vè now agreed a governar￿ timetab￿ for the Tr*ÉlwigB trWhC￿rt the y88r. We have a Risk Glasgow Royal Infirmary Dorcas Charitable Trust Trustse8' Annual Re￿rt (rwtsu¢ Year ended 31 October 2024 Matrlx f¢x the tearwm o al80 a 5% pay rise for £5000 to aid the Cblhing R(M)m e[a..￿n5. Iplo agr*1 a pay ii5e Tearcom assistants to £12 an hour and An ￿loWMent applicat￿n h&$ been $Lrtxnitted requesti We 8ccepted the le$￿￿tIon of Tlustee all hBr contrlbultons and 8JPPOrt of the DorLa8 My own thanks go to￿ her Sta￿1￿1 supp)rt aNI her ilwaluable conlritrxjtion lo the "busirEs5' slde of the charitrj. l am proud to be a$￿crated wilh Ihe Dorcas. We run a busy and powlar tearoJn and 8Jso gNe p￿1￿￿1 I￿1p to pat￿tI oulpalients Staff ol the Royal Infimiary. on 1Cth January 2024. We thank her for Glasgow Royal Infirmary Dorcas Charitable Trust Trustees, Annual Report (c Year ended 31 Octobgr 2024 Reference and admln&tratlve details Règistered charlty name GLg8gow Royal Infimwy Oorcas Chaitable Trust Charty registration number SC037876 Prlnclpal off￿8 Unit4 16 Alexandrn Parad8 Glasg( G312ER rhe trustees Auditor AknndBr Sk)an LLP Charte￿d ￿lUnt￿￿ & slattrtory audit 10Q Sl vincent Street Glasgow G2 5SG Bank*s ctyd8Sda￿ Bank PLC The Avenua Gl8sgL G77 8M Soll¢ltors Tcyou 7 Wesl GeLV Slreet Gla G2 18A Glasgow Royal Infirmary Dorcas Charitable Trust Trustees. Annual Report (conthN Year ended 31 October 2024 Structuro. govemance and management On 6 September 2016 the chanty comierted to a Scottrsh Charilale Ir￿1p0[a1ed Oiganisalion. Previousty th& Trust was governed by a Trust De&J dated 8 February 2007 and was reotstered as harty on l March 2007. Glasgow Royal Infirmary Dorcas charitab￿ Trust (Chaty number.. SC037876) was set up to replac8 the unincorporated association Dorcas SoGiety in cOnn￿tIon with the Glasgow Royal Infimi (Charity number." SC0007941. The trust has similar aThns to ￿ unincorporated organisatM)n and the Committ￿ members becamè tfustees of the tft￿L The tTUStees takes all major d￿K￿lOn8 conceming the TnBt. D8y to day managemenl of the Tea rwm is da18galed to thè Tea room conven(￿. The trustees appoints nvw trustees. The existing trustees undertake the induction and training of trustees. Objectives and actlvltles The ￿lectIVe of the trust is to provide for the comtst and wellare of patients arKI ex-palient5 individually or coll￿tivelY within ¢x ouisKle GlasgLAV Royal Infimwry and their respective families without distinction of creed. AGhlgvemgnts and perfomiance For a fuif review of the ￿tivItieS p￿e see Charfs RepotL Flnancial revlv The surtAus for the year before investment gains was £13,836 (2023." £5,58n after grants of cloth8S and loifelries of £34,651 12Q23.' £30.2891 were m8de. This year the Trust has reported investment gans of £8.837I2￿23.' £1,158) glvlng a SUFplus of £22.673 (2023.. £6,745) which ha5 been transferr8d to Reserves. The pruicipal source of fundir¥J for the d￿ritY 15 the Mabel MacKinlay T8arcom Inwm8 Donat￿￿& Inyostment Pollcy and Porformance The Investment p￿ICY ad(￿t￿l by the Trustees 18 to adopt a lowlmedium risk investment strategy based on maximising Incomelcapital gr(wAh. The market value of investmènts has increased by 12% ¢cAnpar8d lo an increase of 2% last year. Risk Management The trustees have assess￿1 the major risks to whrch fhe Twsl ts exposed, in particular those relat lo the op8r81ion and finances of the Tntsl. and are satisfied that Systems are in place to mtEigate exposure to these risks. Reserves Pollcy arFd Future Plans The trustees have established a policy whereby the unrestTthd fund5 not Committ￿ or invested tangible fixed assets (the 'free reserves'l held by the Trust a￿ built up ro a level whth the tIUStees deem lo be appiopriate lo the Trusf8 circumstances. At 31 Odober 2024 Lye ftee reserves of the trust were £177.36512023".£133.3821. The reserves of the Trust will continue lo be used for social provision and will also be Lssed lo met purchase requests from vrdrds. Grant making policy The trustees makes grants to organisations which are involved in activities within the charty'5 objectives. Glasgow Royal Infinnary Dorcas Charitable Trust Trustses. Annual Report fe¢7nlDHre Year ended 31 October 2024 Plans for future period5 The Ini81888 will conbnue to Svkwrt S)￿lti1 w(K*. homekn and sp8ThfiG reque5b wh￿h the CLxnmilt8e deem apprLyriale. The vÈluafwJn of the invostrnents whKh at £82.946 at 31 OctO￿8r 2024 are now v8lued at £83,537 in March 2LY26. T￿￿tee$. responslbllltfès statement Tl* trustees are re8pOns￿￿ for pwaring the trvstaes. repxt and the fin￿¢￿91 statements aGGordanGe with a1wicab￿ end United Kingdom Accr￿nting Standattls {Unit8d lQngdom Gèn9rally Acc6pled AGcounb"ng P￿t￿e). Th8 law applicable to charrtEs in Scotland reqi.ires lh6 ctwrity trustees lo yepare fingndal statements for ead) ye8r which give a Irup and fw vitat of tho statÈ of affa￿ of Ihe charty and of ￿ ￿ComIng OUTrEs ond ar&)￿CatiOTh of rescxJr￿$, of the chariiy for that pericKI. In preparing these flnanclal stalam8nts. thetruste8s are reryutsj to: setecl suitable ￿cOUntIr￿d polic￿S and then apply them consistenltr. observe the methods and princ￿)￿ in the applic&1￿ Ch8rttie8 SORP. Inake judgments anrl acc)unlry estimales Ihal are re850nable and pruden( prepare th8 linanct81 Btatements on the goin9 cOn￿M b￿S unless l is to pr8sum8 that the chBiity will continue in busiress. The tms1￿ are rèsFffisibl& f￿ keeping adequate *(xaJntwig r8(1)rd8 Ih81 we sulfrAenl to show and explain the charity's transactions and dL%cbse vthh reasonable aLxurKy al any tTne the financial poskion of the chpili y alld enabse them to ensure that the finanoal statements Comp￿ wlth the Ch￿IbeS and Tnjstees Inves1￿ntS (Scotland} Act 2CM)5, the Charty Accounts (SAxsUand) RgJuLqtions 2006, ar￿ the provi¥i¢w of the Trust Deed. They are also resP￿tsible safeguarding the 85sets of th2 charily hents for takiro reasonable sleps the prevanth)n d*lK)n ol Ira￿1 and othor Irregularitig8. In so far as the trustees are a*¥e: . thero 18 ￿ rel8vant audit infOrn￿ll0n ￿YthIch the chanV$ audilors unawarè,. aThJ . the InJsle8s have tak￿ all step5 that they ought to have taken to m*e themse￿& aware of any relevant audf( infoimabon and to eÈt&fish that auditors are 8w&é of that infoMHti￿. 311512 The Iru51ees' annual repc*l ￿￿$ ¥prO￿l on .............................. and 8b3ned on behalF ￿ the l)cord of Iruslges br. Glasgow Royal Infimiary Dorcas Charitable Trust Independent Audltols Report to the Trustees of Glasgow Royal Infimiary Dorcas Charltsble Trust Year ended 31 Octobw 2024 Oplnlon We have audited the financial 51aiemenls of Ghsgow Royal Infimiary Dorcas Charitable TrLTsI {th& 'chaiity'l ftjr the year ended 31 October 2024. whi=h c(Mrprise the Slaiemnt of F￿anCIal Activities, the Balanc& Sheet and Notes to the finarKral statements. includRig 8 8ummary of signfftanl accounting policies. The fIn￿CIal ￿portir0 framewo￿ that has beèn 4)plied in their preparation is applicable law and Unrted KIngdC￿ Accounting Stand8rds. incI￿ling FinancAal Reporting Slandard 102 The Financial Reporting Standard aw4icable in UK aipd RepublK of Ir8land (Unrted Kingdom Generalw Accepted AC￿￿￿ting PractKe). In our opinion, the financrdl statements.. gwe a true and fair view of the state of th& ch*tys thr5 as al 3111 Octobar 2024. and of its incoming res¢￿￿eS and appliGalK)rt of resour￿. including its income and expenditure, for the yearthen end8d', have t*8n propèty prepared in acCLyd￿ with Un*ed Kinfvi G￿￿ralty Ac(wted A¢￿Unting Practice,. aTr have been pr&pared in accordarce vthh the requiremen18 of charit￿ and Trijstee Investrnenl {ScA)Iland} Act 2005 and ReguLgth)n 8 of th8 chariti.es Accounts (Scotland) Regulalions 20C6 {as am￿. Bas55 ft>r oplnlon We condu¢led our audit in accordance with Inlemational Standards on auditing {UKI (ISAS (UKI) and applicabk law. Our responsibilities under those slandard5 are further degcribed in the Auditoffs resportsTrI )￿IlleS for the audli of th8 financk81 slatwnents Section ol our rewrt. We are independent of the charity in a¢￿an￿ with the ethical r84uiremenl8 re￿an1 lo our aLidit of thg financial stalem&nts in th& UK including the FRC'S Ethical Standard, aNI we have fiJ1fil￿d our other eth￿al re8ponsibililies in aCcL¥dan￿ Mth these requirements. We believe that the a￿Y1t eVkIer￿ we have ct*lained rs sufficient and appiopriate to prowde a basis for ouroplnp)n. Con¢lu81ons relallng to going concem In auditing the finanual state￿nts. ¥￿ ￿nch￿l￿ that th& Tnjstees. use golng ¢¢￿¢eM basis of accwnIw￿ In the preparation ofthefinarmyal stat￿￿nts is Based on the work we have wf0m1￿, have ￿￿)tifi&l any ￿rdle￿al uncetsinties re￿Ing to events or conditions that, irmlivtdually or collectivety. may cast signrfKant doubt on the charity's ability to conlinu8 as a going ¢0￿M a perw)d of at ￿t Iwet¥8 months frr￿ when the financkql stolements are a￿OnSed for issue. Our responsibilities and the responslbilities of the TwS1￿ wbth respect to golng u)ncern are described in the rele￿1 sect•)ns of this reFrtXt. Other information The other information comprises the inforniknn irtiuded in the annual reFK¥t other than the financial slalements and our auditorfs report Ihereon. The Truslees afft responsibl@ for the other information contained within the annual report. Our opinKJn or) the fina￿al ststements does nol cov8r the other infonna1￿n and we do not express any form of assurance ¢￿￿￿$lon thereon. Our responsibilty is Its re&J the other infonnation and. in dory so, (y)nsKSer whether the other informath)n is materially incL)nsislenl with the financiat statements. LY our knrywkdge obtained in the course of the audit, or otherwise appeals to be materralty misstated. IF we Klenlify such material inconsistencies or apparent material misstatements, we afft required to detemine whether this gives rise lo a material mksslaternent in the financlal slatemenls theMS￿￿eS. If, based on the work we have perfr)n￿￿. we conclude that there is a material misstatement of thi5 Other Inf￿lDn, we are required to report Ihot frdct. Wa havè nothing lo report in this r*. Glasgow Royal Infimiary Dorcas Charitsble Trust Independent Auditorfs Report to the Members of Glasgow Royal Inllrmary Dorcas Charitable Trust (contthue(lJ Year ended 31 October 2024 Matters on whlch we are requlred to report by exception We have nolhlng to report in respect of the ￿10￿1￿9 matters in relation to which the Charities Accounts {ScolJandl Regulations 20C6 las amended) reuuire us to rekx)rt to you if, In our opifiion.. the Informatic￿ contatned in the financ4al slatements 18 In￿n$￿*tent in any material respect with the Trustees. Repor( or proper accountir@ records have not kept or the financial statements are not In agreement wth the acc￿lnting r￿[d$", or we have not received all Ihe InfO￿natiOn arml explanations we requi￿ for our aLKlit. Rosponslbllltles of Trustees explained more fully in the staterr￿nt of Trustees. RespC￿S1bIlitie$, the Trustees ar8 responsible for the preparation of the finan￿81 statements and for being satisfied that they give and fair wew. and for su¢h intemal cA)ntrol as the Trust*s delemiine is n￿SSary lo enable the preparation of finan¢ial statements that are Iree from material misstatement, whether due to fraud or em)r. In preparing the financial statements, the Trustees are ￿$￿nSIble for assessi the char(tys ability to ¢ontinue as a golng concern, disolosing, as applicable, matters related to golng concem and using the g￿ng concem basis of acwintirvJ unless Trustees either intend to ￿se operations, or have no reali$ts'c allerrtative but to do so. AudIt0￿8 respon8ibllltles for the audit of the financlal 8tatemeTrts We have been appointed a5 auditor under Section 4411)(c} of the Charities and Trustee Investment {S¢otland) Act 2005 and reFQrt in axothce Ihe A¢t and rolevant regulations made or having effect thereunder. Our objectives are to obtsin reasonable assurarKe about whether the finan￿al ststemenls as whole are free from materiaj misstatement, whether due to or errcy, and lo issue an auditorfs report that indudes our wnk)n. Reasonthe assurarKe is a high level of assurance. but is not a guarantee that an audit ￿ndUthd in ax￿dan￿ with ISAS (UK) will thays det￿1 malwial misslatement vthen it exlsts. Misstatements can arise frcm or error and are Considered material if. indtvrdually or in the aggregate, they could reasonably be exwled to influence the economic d¥isions of users taken on the b￿S of these fin￿1￿ statements. I￿egUlarities, including fraud, a￿ Instan￿ of rK)rKompliance laws and ￿Ulat￿3. We design procedures in Ilne with our resp)n￿bIlItIeS, out11r￿d above, to detect material misstatements in respect of I￿egu[all￿'es, including fraud. The extent to which our procedure5 are capable of delecting irregulatitres, I￿udIng fraud, is dela11￿ betow. Extent to which tho audit wa5 considered capablo of detectlng ifTegularltles Includlng fraud Our approach to identify.rng a￿1 assessiry Ihe risks of material mi5staten￿nt in respect Of Irregularities. including fraud and r￿n-comPlIan￿ with lawB and regufations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate comFEtence, capabilities and skilts to idenltfy or recognise non-compliance th applicalAe laws and regulatii)ns: we identified the laws and regulalrons applicable to Ihe charity through discussions wth TrLJStees and other managemenL and frum our wMYer knowledge and e￿rience of the harity sector,. we focused on Spe￿fiC &ws and regulations we ¢￿￿sIdered may have a direct material effect on the financial statemenls or the operations ol the charity. including Charities SORP (FRS 102). the Charit￿8 and T￿￿tee Inveslrnenl ISco118r%Jl Act 2005 and the Charities Accounts (Scodandl Regulats"ons 20￿ (a5 amended). Glasgow Royal Infirmary Dorcas Charitable Trust Ind•p8ndent Audltorf5 Report lo the Members of Glasgow Royal Inffm)ary Dorcas Charitable Trust (¢onthwO Year ended 31 October 2024 we assessed the extent of ¢orn[Alan￿ with the Faws and regulations identifie(J al>)ve through making enquiries of managemen* and InSp￿tIng ￿gaI Corresponden￿,. and identified laws and regulations were cc¥nMun￿ted wthin the audit team regulaty and the team remained alert lo Instan￿ of rnnvcomplwGe throughout the audit. We assessed the SUs￿ptIbIIty of Ihe charTV5 finanual statements to material misstatement, including obtaining an understanding of how fra￿ might cKcur. by.. making enquiries of rnana￿ent as to hthere they considered there was susceptibiltty to fraud, their knowledge of*ual, suspected and alleged fraud,. and considering the internal c4)ntrols in pkn to Mi￿date risks of fraud and non-CJ)mpii8nce with laws and regulations. Audlt response to rlsks klentHlad To a(Jdress the risk offraud through management t¥as and oveffKle of ¢ontrcl4 we: perfomied analytical procedures to Klenbfy any unusual or unexpected rdationships,. tested jouinal entries to identify unusual tran$&tions.' assessed whether judgements and &wmptions m￿e in deteminiThJ the acc￿nting eslimales set (Njt in Note 1 were indutive of potential bias. and ir¢vestigaled the rationale behind S￿nIficant or unusud transactions. In resKthse to the rFsk of irregularitres arnl rN)n-Q)M￿lan￿ vlith laws and regulations. designed procedures whrch included, but were not limited to.. agrring financial statement disck)sures to un(knlyirvJ suppx)rting d￿n￿ntat￿jn. reading the minutes of meetings ofthose char￿d with govemance.. enquiring of management as to actual and wtenlial litigation and ctamns,. and requesting any nc￿-rOU1Ine corresponden* wilh HMRC and OSCR. There are inherent limitstions in our audit procedures described a￿Ve. The more removed that laws and regulations are from financial transactK)ns. the less likely St is that we would become awarE of mn-compliance. Aurfiting standards akn limit the aLKiit prO￿dureS required to identify non-compliance with laws and regulations io enquiry of Ihe Trustees and other man￿ement and the inspection of regulatory and legal correstL￿e￿e, if any. Material ml$statements that arise due to traud can be harder lo deW than those that arise frcm error as they may involve deliberate Co￿alment or cdlu&on. A fvrther description of our reswnsibllilies is avaiLaLle on the Financral Reporting Coun¢il's website at htt ..1￿.frc.0r .uklaudilorsres sibilitres. This descriplvn forms part of our auditor's repotL Glasgow Royal Infinnary Dorcas Charitable Trust Indepgndont Auditorfs Roport to the Member5 of Glasgow Royal Inflmiary Dorcas Charitablo Trust (¢onthu Year ended 31 Octobfrr 2024 Use of our roport This report is made solely lo the charitys Truslees. as a tdy. in a¢coTdance vfith Regulation 10 of the Charitios Accounts (Scollandl Regulathorts 201%. Our audit work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an al￿1t01S report and for no other purtK)se. To the fvllest extent permitted by law, we do not accept or assume rest)onsibility to anyone other than the charrty and Ihe chartty's Trustees as a body. for our audit work, this rewrt. or for the opinions we have forned. LLtP Alexander Sloan LLP 311Y2025 A¢countants and Business Adviser¥ statutory Auditor 180 St Wincgnt Strogt G2 5SG Alexander Sloan is eligible for apFointsnent as auditor of the charity by MTttte of its eligibility for appointment as aLKlitor of a company under se¢tion 1212 of the Companies Act 2006 Glasgow Royal Infirmary Dorcas Charitable Trust Statement of Frnanclal Activitles Year ended 31 October 2024 2024 un￿sIrkaed funds Total funds Total funds 2023 Income and endowmènts Donations and legacies other tradlng ￿tivItIeS Investment income 365 395,948 365 395.948 468 346,530 Total Income 3*.314 396.314 347.002 Expendlture ExperKlilure on rak8ing fvnds: Costs of other trading actimtres Investment management costs Expenrjiture on chartt8ble adwrties Total expendfturo 332,751 204 49,523 382,478 332.751 204 49,523 382.478 291,874 189 49,352 341,415 Nel gains on investments 12 8,83) 8￿37 1,158 Net Income and ngt movelnent tn funds Z2.673 22,673 6,745 RecoTrclllatlon of funds Total fvnds brought forw Totsl funds carlod forward 233.2 233,250 25S,923 226,505 233.250 255,923 Tha slat8menl of fmancial adwities indudes al gains and hjsses recOJn￿ed k) thè year. All income and expendrtura dertv& ¢￿tinUing athities. The note5 on pages 12 to 23 fomi part of these finan¢lal statements. 10- Glasgow Royal Infirmary Dorcas Charitable Trust Statement of Flnanclal P081tion 31 October 2024 2023 Fixed assets Tangible frxed 883e15 Investments 18 19 99,858 74,228 174,0 82,946 161.504 Current assets St￿kS Debtors Cash at bank and in h￿d 20 21 2,406 1.636 128.517 2,588 1,488 98,113 102,189 132￿ Gredltorn.. amounts fdling due withln one year Net current assets 38,140 40,530 61,659 235,755 94,419 255,923 Total a55ets le95 currenl Ilabilltlos CredIto￿. amounts lalllng duo aft•rmor• than orn8 yèar Not assets 2.506 255,923 233.250 Funds of thg chaiity Unresiricled funds 255.923 233,250 233.250 Total charity fvnd5 255,923 The¥e [manG￿l slalements were apprtyed by Ihe bcwl of Iw¥lEe¥ and authorFsed f￿ Issue on .31￿￿1}25........, and 8re on behaf clthe board by. The noÈ¢s on pages 12 to 23 fomi part of these fln8Dcial statements. 11 Glasgow Royal Infinnary Dorcas Charitable Trust Not￿ to the Flnancial Statements Y¢ar ended 31 October 2024 General Informatton Th8 chatity is a publtc benefit enlty and a registered charity in Scotland and is unincorporated. The address of the prin¢ipal office ts Unit4. 16 Alexandra Parada, GlasgcA¥. G312ER. Statament of compllance Th8s& financial statements have been prepared in compliance wilh FRS 102. 'The Financfal Reporling Standard applicabl8 in the UK and the Republic ol Irèland.. the Statement of ReCo￿￿￿ended Pradi¢e applicabk lo charib'es preparing their accounts in ￿CordanCe wilh Ihe Financial Reporting sta￿larf ap￿￿￿ble in the UK and Republr of Ireland {FRS 1021 {Ch8ritEs SORP IFRS 1021) and the Chariltes aThJ Trustee Investment {Scotlandl Act 2￿5 and the Charity A￿Ount$ ISc(thnd) RwJulaions 20C6 (as amended). Accountlng pollcies Basls of preparation The financial slatements have been prepared on the h￿orM￿l cost bas1$, as by the revaluation of certain financial assets and tsatx'lit￿5 and i￿stment prr4Jeth5 measured at fair value through income or experKliture. The financial statements are prepared in aerling, whKh ftl￿tional cuffency of the enlbty. Going concem The Trustees are confident going ftxward thgt the ch*ty has SU￿￿1 finanejal strength to remaln vi4ble for the f￿see¥ble future. The valuation of the invesbr*nts St¢￿ at £82.946 at 31 OCtoL￿r 2024 are n(￿ V￿Qd at £83,537 in March 2025. Judgements and key sources of estimatlon uncertalnty The preparation (rf the financial stat￿MilS requires manag￿t to mak8 jt*Sgements, estimates and assumptions that affect Ihe aTbJunls reFx)rted. These estimates and judgement8 are continualty revEwed a￿1 are based on ex[)￿n0 and oth8r faclors, inchJJing eXP￿t￿)n$ of future events that are believed to be reasona)le undw thè circumstarKes. Income tax The organisatM is a regtstered Scottish Charity and is ncl liab18 to Unlted Kingdom CorForalKJn Tax or Capital Gains Tax on its charitable *1Wt￿$. Fund accounting UnrestrKted fvnds are availab￿ for use * the discrelk)n of the Iru5tees to further any ol the charity's purposes. Designated fund5 are unrestricted fuThJs e3￿narked by the trustees for part￿￿[ar future project or commitment. Restricted funds are subjected to restrtctions on thetr expenditure declared by the donor or through the lemis of an appeal. and fall into one of two sub-dassos.. reskncled In￿Me funds or en¢Jowmenl funds. 12- Glasgow Royal Inf1rn7ary Dorcas Charitable Trust Notes to the Financlal Ststemgnts (¢onthuedJ YeaT ended 31 October 2024 Accounting pollcley (conlkjwd) Incoming resources l incoming reBourc8s are included in the statement of financial activities when entitlement has p&%sed to the charity." it is probabfe that Ihe econ￿)1¢ benefrts assocL2ted with Ihe transactv)r7 will fknv to the charity and the w￿unt can be reliabty measured. The fDllcwiro specffic poI￿leS are appli￿1 to part￿￿lar categories of income.. income from donat￿)n5 or grants is recc%JnFsed when there is ewdence cl enlrtlemenl lo th8 grft, receipt is prcd)able and ils *nounl can be Meas￿ rdKgbly. legacy Incc¥ne is recLyJnised reCe￿t ￿ pr(thbte and entft5￿nent is established. irwestment ince4ne is a￿1Xybts for on a rece4)ts basis. inccffle from donate(I gctrJds 15 rneasured at the fax valu8 of the gcods unless this is ffnpractl¢al to measure retiknty, in which case Ihe value is derived fnJn the cost to the donor or the estnnated resale value. Dcmated lacilities and services 8re rwnr6ed in the account$ wh8n received rf the value c8n be reliabty r￿Ured. No amunts are includ8d for the ontribution of general volunteers. the charity leased the tearc*Jm from the hDSPital for the ¢onsKlerntion of £1. This is cleat1y below reali88b￿ martet Wdlue. Hctr•ever, the Trustees are unable lo ¢**tain a rea1k8t￿ market value of the area leased. as they are not a c(J)wn￿l venture and y￿uld not be ch￿ged the sama rate as a ccrf)Theroal enterp￿. Income frc¥n other tradiru &tivttEs incltKle8 earn￿1 b(rth trading activities to raise funds for the charity arvj income fr(4n fuThJraising even15 and is rec(¥nisad when the charity has entrtlemenl to the funds, it is prthable that these will received and the ￿n￿nts can be measured reh'abty. 13- Glasgow Royal Infirmary Dorcas Charitable Trust Notes to the Flnancial Statoments f¢onthiu*dJ Year end8d 31 October 2024 Accounting polictes (conthuegj Resources expended Resources èxpended Expendilura is rwni5ed on an accruaL8 basr6 as a liabilty is In￿rred. ExponLlilure includes any VAT which cannot be fijlty recovered, a￿j is Classifi￿ under headings of the statenEnl of f5nanual activities trj whth it relates.. expendilur8 on raising funds includes costs of all fiJndrai5ing actpitties, events, on￿a￿ltable tradiry octivibes. and the sate of donated goods. eypenditure on Charitable actpl[￿ i￿1[￿ all costs InCuw￿ by a charity in undertaking acJNitNgS that further ils charitabk aims for the bsnefft of its beneficiaries, including those support costs and c#)sts Rlating lo the govemarKe of the ctffj appth'oned to charitable activities. other expendrture I￿ludeS all expe￿lit￿re that is n8ther reLaled to taislrKJ funds for the charity nor part of ils exwdilure IM charitth &tivftig5. All costs are all￿ated to exwditure categories r8ftectiThJ the use of the resource. Dlrect cost8 attribUt￿)le to a single actwty are alhxated directy to that aclThiity. Shared costs are apportio￿d beiween the activities contribute to on a reasonab￿, justifiable arKI consistent basis. Grant EXpendI￿re Granls payable are rTh9de to th￿d parties In the furtheran￿ of the charllable ￿eCts. The awa of a grant Is recognised as a bability when the criteria for a constructiv8 ￿ligatIon are met, payment is probable. It Can be measur&J reliabty and there are no ccTh1itions attaching to ils payment that limit recognitron. In the ca8e of an unconditional offer. thls Is ac¢n￿d ¢xtt th8 Tecrpient has be8n notsfEd of the grant award. The notif￿￿10n gives the recIp￿nt a reasonable expectation that thèy w￿1 receive the one-year or muhi-year gr8nL Grant th¥*ds that are 8ubjeGt to the reciiient fulfilling perfom*nce condilv)ns are ￿￿ed when the recipient ha5 been notified of the grant and any remaining unfulfilled corKlition atL7ching tothal grant is ouiside of Iho control of the charity. Support costs Supwt costs are incurred supwrting Ihe charitls ¥tNitses arKI i￿lude ex￿dIture as8OCbated with administrative and f￿an￿ functKJns, buslness supwl. HR. rr ￿ govemance. Governance costs Governance c0515 (which are indbded as a crynent of support costs In accordance wlh SORP) comprise 811 c#)sts involwrKJ the public a￿Unta￿.1Ity of the charity and ils compliance th regulation and gwd practice. These costs iiidude those related to constiluliork81 and slatulory requirements, external scnth.ny (audi< or independent 8Jxaminallonl, strategic management, and other legal and professional fees. -14- Glasgow Royal Infirmary Dorcas Charitable Trust Notes to the Flnanclal Statements (¢OrtuJ￿d) Year ended 31 October 2024 Accounting policles (contln Tanglble a$￿ts Tangible assets are Initial￿ recorded at cost. aThl Subsequent￿ staled al cost less any accumulated depreciation ancl Irryairment knsses. kny lang￿le assets carr￿d al revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumuL4tad deprectalion and subsequent ￿JmUla￿l xnpaimi8nt losses. An Increase in the cArrying amount of an asset as a result of a rev8lualK)n, is wnFsed in other recognised gains and bsses, unless it reverses a chargg for impaim)ent that has preVM)uS￿ been rwnised as expenditure within the Stster￿ of financia activrties. A decrease in the carying amount of an asset as a result of revaluatM)n, is recognisejj in ¢)ther recognised gains and losses, except to which il offsets any PreV￿u$ revalUalTc￿ gain. in which c8se the IcN%s is shown within other recogni8ed gains and losses on ihe statement of finarKial activ1￿. OOp￿clat10Th DepreciatKJn is cakjjlated so as to crff the (x)st or vauation of 8n 8sseL less 11$ residual valuè, over the useful ewn0M￿ lite of that asset as folbws.. Slb)rt Leasehold Property Fumiiure & Equipment 10% strauhl lin8 20% straMJht I'ne Investments Unlisted equty investrnents are inilkglly r￿ded al cosL and subsequentty measured al falr Value. If fair value cannot b8 ￿liablY measured, assets are m&38ured al cost less impairmenL L￿ted investments are I￿￿ured at fair value vAth chwes in far boing rwni$ed in inc¢Jne or expeNYtture. Impalmient of fixed a5S8ts A wew for indic81ors of wYyaim*nl is cavTied out at each reportiro dale, wilh the r￿Verable amount b￿r￿￿ estimled where suth ryidKators e￿51. ￿ere the carryiTrJ value exceeds the recoverable amount, the asset is irrpaired acc¥)rdingty. Plior ¥rpalM￿ts are also revl8wed for possible ￿VerSar 81 each reporttng date. For the purfX)ses of wnpainY*nt le51iry, when rt i5 rN)t KKlSsknle lo eStin￿te the rec4)verabJ8 amount of an indiwdual asset, an 6Stimate ts made of the recoverable amount of the txsh-generaling unli lo which the asset bekJryJs. Ihe cash-gen@rating unit is the smallest identrfiable group of assets that indudes the asset arKI generate5 cash inflows that large Indepe￿Ient of tha cash inflows frcffi other assets or groups of assets. For imp3itmenl lesling of goodwill. the ￿qUired in 8 business combinallon is. from the attquisilK)n date, alk)caled to each of the cash-gen￿Ing units that aro expected to bBnefil from the synergies ol th6 combination. IrrespeclTr￿ ol whether other assels or liabilities of the charity are assigne(I lo those units. -15- Glasgow Royal Infirmary Dorcas Charitable Trust Notes to the Financial Ststements (¢onfhu8dJ Year ended 31 October 2024 Accountlng policies (conllm Stocks stocks are measureé at the bwer of c05t and estiM8t￿j sei1￿￿ prKe costs to c(wnplele and Debtors Trade and other d8btors are rwnised at the setUom8nl amunt due after any discount offered. PrepayTr￿nts are valu&l at the amount rryaKI after laing a￿ount of any d￿Unts due. Cash at bank and in hand Cash al bank and cash in hand I￿ude$ cash and short tem high￿ Ih]uAI investments wlh short malurty of three months or ￿ frcrfn Ihe date of acqui$ition or opening of the deptssit or simiLgr account. Credltors and provisions Creditor$ and ￿￿0Vis￿n8 are rec(KJni*l where the ch￿lty has a prwenl (4Jllyation r8sulling from past went that will prob8bty result in the transfer of funds to a Ihlrd party and the amount du8 to sellle the oblig8lK)n be measured or est*naLed reliabW. Credlors and provtsions are nomwlty r￿ognISed at their settlement amount aftw alknM"ng any trade discounts due. Lea51ng Rentals payable under operaiwwJ leases are ch￿g￿ against i)n a straight line basls over the ￿se lemi. Flnandal InstNm8nts The charity only has fmanoal assets and financial li&)Hltie8 of a kirbj that quallfy a8 basiG financkql instrumerrts. Bas￿ financial instrum8nts are in*ialty reLxwnised at transact￿￿ value and subsequentty measured al their setllen*rt value with the exceplk)n of bank loans which are subsequenlty measur&J al the carrying Val￿ plu5 accru￿ interest less repay￿￿nIS. The financing tharge to expenditure is al a C￿18￿1 rate c*ulat&l using the effectwp interest method. Dollned ¢ontrfbutlon plans Corrtribulions to defined contrljutbn plan5 are reccgnised as an expense in tha period in wh￿h the reLated servico is pro￿d￿l. Prepaid contribubony are rwnisd as an asset to the extent that the prepaYM￿t will lead to a le￿￿tiOn in future Pay￿￿nIS or a cash refund. When contrbr utions are r￿1 expected to be seiued whoily w(Ihin 12 nKnlhs of the end of the reporting d8te in wlich the employees render the related servi￿, the liability is rn￿sL[red on discounted present value basis. Ihe unwinding of the diswunl is recognis￿l as ￿ expense in he period in which it arises. -16- Glasgow Royal Infirmary Dorcas Charitable Trust Notes to the Financlal StatemeTrts Year ended 31 Octobw 2024 Donations and legacle8 Unrestr￿ed Total Funds Unrestricted Total Funds FU[￿S 2024 Funds 2023 Donatlons Donations Oth&rtradlng actlvitiès Unrestritsj Total Funds UnrestrKted Total Funds FUTh 2024 FUTh 2023 AL#hlliès for generatiNJ funds- Mabd M&lQnlay T9aroom 395.948 395,948 346,530 346,530 Investh￿rt inc<)me UnrestrKted Total Funds Un￿Stricted Total Funds Fur 2024 Funds 2023 ItKome from listed investments Investment management costs unreStr￿ted Total Funds UnrestTKt8d Total Funds Funds 2024 FUNIS 2023 PortfolK) management 204 189 Expènditure on charitable actlvltle5 by fund typg Unrestri(ts Funds Restrthd Total Funds 2024 Ck)thing - tk)rcas Roc4n Homeless Llaison Support costs 33,755 33,755 896 14,872 49.523 14.872 49,523 Unrestrb*d Restricted Total Funds Funds Fund5 2023 Clothing - Dorcas Ro( Homeless Liaison Support Costs 27,037 1.5 19,063 47.606 1.746 28.783 1.506 19,1￿3 49.352 1,746 -17- Glasgow Royal Infirmary Dorcas Charitable Trust Notes to tho FlnanGlal Statements (Gonthjued) Year ended 31 October 2024 Expenditure on charltable aGtfvlties by activty type Grant furKlino of activrfies Svppcml (x)sts Total funds 2024 Total fund 2023 Ck)thnig - Dorcas Roorn Homeless Liaison G0Veman￿ costs 33.755 33.755 28,783 1,506 19,[￿3 49,352 14.872 14.872 49,523 34,651 14,872 10. Analy￿5 of $upport costs Drxcas Total 2024 Total 2023 staff costs Ac￿￿ntancY fee5 Audrtorfees 765 13.915 4.718 9,757 5,115 9,751 S,115 14072 14,872 19,398 11. Anatysis of grants 2023 Grants to Instliuttons Clothing - Dorcas Room Homei8$5 ￿alson 33,755 28,783 34,651 34,651 30,289 30.289 Total grants 12. Net gains on Investmth Unre8tri*ed Tolal Funds unreStr￿t￿l Total Fur Funds 2024 Funds 2023 Gainsll1(￿es) on ￿her inve51rnent 8.837 8M37 1.158 1,158 13. Net income Net in¢xJme18 Stated after charg1￿(crediting)'. 2024 2023 Depreuation of tangible fixed assets 23.305 24,416 18- Glasgow Royal Infirmary Dorcas Charitable Trust Notes to the Financial Statemgnts {COfftthuÈo) Year ended 31 October 2024 14. Audllots romuneration 2024 2023 Fees p8yable for the aLrdit of the financial stalenwts 6,115 4,718 15. Staff Costs The total staff costs and emptyee b￿rts for tha reportiThJ are analys￿1 as fdlows.. 2024 2023 Wages and salaries Social security costs Empknyer ￿ntrIbut￿S to p￿In pLgns 103,451 110 1,342 IW903 87,593 1,2TI 88.870 The aver￿8 head ci)unt of wnpbyees duriThJ the Wds 7 {2023'. 71. Th8 avewe nurn￿r ol lu1141me equwathl empbyees during the year is anatysed as follaws.. 2024 2023 No. Number of Staff No employee r￿[￿ed emth beneffts of rr￿e than £60,000 during the year {2023.. Nil). Key Managemgnt Personnel Key management petsonnel indude all p*¥cms that have authl￿ty and r8sponsibility for pL4nning, direcknng and contrcAling the actN*ies of the charty. The lotsl ￿MPOnsation pa￿j to key management pefsonnel for seNKe8 lo the charity was £28,35312023'.£27.$49). 16. Trustee remuneratlon and exP￿￿es No m8mber of the ts)mmittee received rerwnerat￿n or reImbu￿eMenI of expensos during th& year in their capacty as committee members. 17. Transfe￿ bptween funds The Designated FiKed Asset Fur¥J was set up to alkKate within reserves an 3rrM)unt equal to the net bod( value of the charty's fixed assets as in the opinion of the trustees these are nc distributable assets. In the year end￿ 31 (ktokr 2024 a transfer of £1.995 was nRde from the General Fund to the Fixed Ji8set FU￿1. 19- Glasgow Royal Infinnary Dorcas Charitable Trust Notes to the Financlal Ststements {t¢¥JrfDiuedJ Year endgd 31 October 2024 18. Tangible fLxed assets Land and building5 Equipment Total Al 1 November 2(Y23 Add￿On8 22.217 1.995 230.543 1,995 232.538 At 31 October 2024 208.326 24.212 Depreclation At 1 ￿vember 21Y23 Charge forth8 year At 31 O¢tober 2024 114,579 20,833 135,412 16,0 2,472 130,675 23,305 153,980 18.568 Carylng amount At 31 Octobgr 2024 72.914 78,558 99,868 At 31 October 2023 93,747 6.121 19. Investsn¥nts Llsted Investments Cost or valuation At 1 November 2023 Addit￿n$ Dispos￿S Fair value movements 74,228 (115) 8.833 81946 At 31 Octobw 2024 Impaimient At l November 2023 and 31 October 2024 Carylng amount At 31 Octobgr 2024 82,946 74.228 At 31 Ocknber 2023 l investrnenls Shown thva ¥e hekl at Wdluation. Flnancial assets held at falr valuè Fixed asset investrYEnts are vafueAI at mthet valug. 20. Stocks 2024 2023 Raw materials and consumatAes 2.588 Glasgow Royal Infirmary Dorcas Charitable Trust Notss to the FinanGlal Statements (cl￿¥￿e03 Year ended 31 October 2024 21. Debtors 2024 2023 Prep8ymenls arKI accrued in¢x*) 1,636 1,488 22. CredltoTs', amounts tdlllng due withln one year 2024 2023 Trade credrto Accruals and deferred income Sooal security and olhertaxes ObllgalK)ns under fmance and hire purchase contracts Other cra(litors 16.117 9,591 9,683 I505 244 19,836 9,361 8,601 2.732 38,140 40.530 23. Credltors: amounts falling due after more than one year 2024 2023 Obligations urKler finance leases and hiTe purchase ccthcts 2,505 X Flnanca leases and hlrp purchase contracts The total fuiure minimum payments financè leases and hire purchw contracts *e as follows.. 2024 2(Y23 Not later 1 year Later than q year not later than 5 years 2,$05 2,732 2,505 5.237 2,S05 25. Pgnsrons and other post rgllrement benellts Defined contributlon plans The amount r￿09n￿￿ed in in(tsme or exp￿drtUre as an expense in relatK)n to defin contiibution pL4ns was £1,342 (2023.. £1.277). -21 Glasgow Royal Infirmary Dorcas Charitable Trust Notes to thg Financial Ststsments Year onded 31 October 2024 26. Analysis of charitable fiEnds Unrèstrlcted funds At 1 Nov2023 Gains and At k)sses 31 Oct 2024 ExperKliture Transfers General fvnds Fixed A￿t Fund 133,W2 99,868 233,250 3*,314 {359,173) {23,3051 (382.478) {1.995) 1,995 8,837 177.366 78.568 255,923 ,314 8.837 Gains and At bsses 31 Oct 2023 l Nov 2022 Expenditute Transfers Genernl funds Fixod Asset Fund 101.076 347,002 (315.253) I￿,683 (24.416) 224.759 347.W2 (339,669) (601) 1.158 133.382 ,868 233,250 1,158 Fixed Asset Fund - The Fixgj Asset Fund was set LP to alkrate within reserves an amount 8qU81 to the net boc4( vahje of the chathls fiwj assets as in the cylnh)n of the trustee these are non dislributgble asset* 27. Anatysls of net assats l*t*wi funds Unresfricted Total Funds Funds 2024 Tangible )Ixed 888et8 Investment8 Cu￿ent assets Creditors less than 1 year Creditors greater th￿ 1 y Net assets 78,558 78,558 82.946 132.659 138,140) 132.559 (38,140) 255.923 255,923 Unr8strthd Tclal Funds FuThls 2023 Tangible fLxed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 99,868 74.228 102,189 (40,530) (2,5051 233,250 99,868 74,228 102,189 140,530} {2,505) 233,250 Glasgow Royal Infirmary Dorcas Charitable Trust Notes to the Financlal Statements [￿￿#*￿1•) Yeai end8d 31 Oetober 2024 28. Operatlng lease commllmonts The told future minimum lease payments under nOn￿￿elIable cgefvting leases are as follows." 2024 2023 Not kter than 1 year Lalerthan 1 year atxl not later than 5 years 428 1,639 1.639 29. Related partles No menkner of the commitlee received reft￿ne13￿n or rewnburS￿nI of expenses duriThJ the year in their capaety as commli te8 n*mbers. No (rthw transactK)ns wth ￿lat￿ parties were undertaken s￿h as are required to be dr8cIDsed un(*r Ch¥it￿ SORP (FRS 102).