The Sherbrooke Initiative Limited
Annual report and accounts
for the year ended 31 December 2024
Company Number SC333410
Charfty Number SG0391n

The Sherbrooke Initiative Limited
Annual report and accounts
for the year ended 31 December 2024
Contents
Legal and Admini$lralive Inf¢)m)ation..............
Trustees. annual reKKJrt.. .................. ...
Report ofthe IndeFendenl Examiner forth& year end￿ 31 December 2024....................... . .... ......
statement of Financial Activities for the year ended 31 December 2024......,....................,................
Balance Sheet as al 31 December2024..............
Pnncipal accounting ￿l¢le9....
Notes to the financlal 8ts1ement8 for th8 year ended 31 De¢ember2024..........................................

The Sherbrooke Initiative Limited
Legal and Administrative Informatlon
for the year ended 31 December 2024
Tru8te8s
Rev A Dillon
Mr R Baird
Mr G Borland
Mrs U Heanèy
{reslgned 11t February 20241
Mr J Duthie
{resigned 101 February 2024)
Mr S Manson
(appointed 111 Febnjary 20241
Ms H M¢Donald (appointed 151 February 20241
{Chairman)
{Tr8asureri
S•cr•tsry
Mr G Borfand
R¢gl8tored Offlce and Contad addre•8
240 Nithsdale Road
Pollokshields
Glasgow
G415AD
Bankern
Bank of Scotland
Pollokshiel¢Js Branch
238 Albert Drive
Glasgow
G412NL
Ind•p•nd•Tht •x#mlner
Kristinx Bowie FCCA
18 Ledi Road
Glasgow G43 2AJ
Company Number
SC333410
Charlty Number
SC039178

The Sherbrooke Initiative Limited
Trustees. annual report for the year ended 31 December 2024
The Trustees present thelr annual rewi aThJ ihe aco)unts lor The Sherbrooke Iniliatlve Llmited for
the year ended 31 December 2024. The accounts ￿MplY with currenl statutory requlrem8nts, the
Memorandum arKI Articles of Assoaation of the Inilialive and the Statement of Recommended
Practice- Accounting and Reporting by Charities. The *al arKI administrative information set out
on page 1 fomis part of thi¥ report,
StrUc￿re and gov•rnlng document
The Initiative 18 a private ccfflpany limited by guarantee and wlth charitabl8 Status It IS govomed by
the lems of Its Memorandum and Articles of Asgoc18tion.
Rocrulthient and appolnlmonl of Tru8teo8 (Dlrectorn)
The rules surrounding the appointment of TnJstees (tho are the dlrectors of the Iniliativel ale
contained in the Inib'alive's Articles of Asscciation. Trustees may be appalnted by ordlnary re501ution
of the members of the Inlllalive or by a declsion of the Truste88. The number of Tru$lees shall not
less than ￿ bul there is no maximum number.
Tru8t088
The names of tha Tru8ta68 on the date Ihls annual rawt was approved by the Trustees are set out
on page 3.
As a private charitablè company limrted by guarantee the Inlllativ• does not have a share capilal In
which the Trustees can hold intere3t&
ObJ•ctlv•8 and a¢tfvltle8
The objectives of the Initiative are to encourage greater community understanding within Ihe parish
of Sherbrooke MosspaTk ChurGh, Pollokshields. Glas9ow and beyond, lo promote the advancement
of crtizenship and community development and the education of Ihe public In relation thereto and to
advance the arts, heritage. culture and sGienc•.
During this year, the Inttr'ative continued to promote the chur¢h as a place where all community
groups can mg01. The Initiative has entered into an aareement with the church regarding the letting
of church premis￿. Thus, ￿lIe donation$ continued to be recelved on a slmllar scale lo prevlou8
years, the holdlng of musi¢ events in the church raised S￿nifIcan￿Y rn0￿ than previously.
Finan¢io1 revlew
The￿ was a significant 8urplu8 for the year. The staiement of financial a¢tivitiè8 on page 5 givas
detsils of the financial transactions during the year.

The Sherbrooke Initiative Limited
R￿0￿409 Pollcy
It 1$ the policy of the Initiative to build and maintain free fesetves of a level suff¢cienl to 8UPPOrt its
current acbvities In the event of a significant drt)p in income.
As at 31 December 2024 the Initiative had ftee reserves of £26,123 whl¢h Included a cash balance
of £23,722. The Tnjstees consider this a more than ample level of reserves having regard to the
current annval expenditure level, which is in the region of £18,000. The combination of the new
letting agreement and continuing gfft aid commmf(ments put the Initiative on a sound financial footing
going forward. The Initiative has already maje commitrnenls to runslating the previous music
¥cholarships and is exploring other ways in which it can contribute to the advancernenl of the arts In
the Iccalty
Statement of Tru•tO08' rn8POn8lbllltleB
The Trustee8 a￿ responsible for preparing the accounts in accordance with applicable law and
practice and the Trustees are required to prepare accounts for each financial year, ￿lch show a
true and fair view of the financial activities of the charity during the financlal year and the stsle of
affairs of the charity a$ at the end of th& financial ygar.
In preparing those a￿Ount8, the Tru8teeB are required lo..
select suitable accounting policies and then apply them consislenlly,.
make judgements and eslimate5 Ihal are reasonable and Prudent.,
state whether applicable aC￿Untsn9 standards and statements of recommended practice
have been followed, subject to any departuies disclosed and explalned in the financial
8talemenl8,' and
prepare the financial statemen18 on the going concem basis unless it ig Inapproprlate to
presume Ihat the charTty will continue in operational existencg.
The Trustees are respon$lble for keeplng proper accountlng records whlch disclo88 with re880nable
accuracy al any time the financlal position of the Ini1SatNe and to enable them to ensure that the
a¢￿unIS ¢omply with the Companies Act 2006 and the Charities Ac¢ounls (Scotlandl Regulations
2006. They are also responsible for $afeguarding the assets of the Initialive ani1 hence for ta￿ng
reasonable steps for the preventlon and detection of fraud and other irregularities.
Company Reg18traUon NuM￿r
The Companvs registration numter is SC333410.
Srnall Company dlsclosure
These accounts have been ￿par￿￿ In accordance th the special provisions of Part 15 of the
Companies Act 20(￿ relating to small companies.
Tru8tee
25

The Sherbrooke Initiative Limited
Independent examiner's report to the Trustees of
The Sherbrooke Initiative Limited
I report on the xcounts of the ctsrity for the year ended 31 Decemter 2024 ￿1¢h are set out on
pages5to 11.
Ra8PeCtlve re8pon8lbll1ll￿ of truste￿ and examlner
The charity tnjstees are responsible for the preparation of accoutts In accordance vnth the temi8 of
the Charilies and Trustee Investment {Scotlandl Act 2005 and the Charities Accounts (Scotlandl
Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10111 Idl of
the 2006 Regulations does not apply. 11 is my responsibilty to examint the accounts under se¢tson
44111 Ic) of the Act and to 8tale whether partl¢ul8r matters have come lo my attention
8•81• of Indepondent examlnerfB ￿8￿mOnt
My examination Is carried out in accordance with Regulation 11 of the Charities Acwunts Iscotland)
Regulations 2006. An examlnation includes a review of the accountlng records kept by the charlly
and a comparison of the accounts presenled with those records. It also include$ ¢on$iderallon of any
unusual items or dis¢lo$ures in Ihe accounts. and See￿n9 explanations from the Iruslees concernlng
any such m811ers. The procedures und8rtaken do not provide all the evi¢J&ncg that would be required
In an audit. and wn8equently I do not express an audit opinion on the view given by the accounts.
Indepond•nt •xamineVs 8latemeTrt
In the course of my examination of the xcounts for the year ended 31 De¢ember 2024, no matlor
ha8 come to my *tentlon'.
al whictt gives me reasonable cause to tselieve that in any matertal respect the requirements..
to keep accounting records in accordance with S￿lI0n 44{11(al of the Charities 8nd
Trustee Investments IScotland} Act 2005 and Regulation 4 of the 2008 Regulations,.
lo prepare accounts which accord ￿th the actounllng records and comply vjlth
Regulation 8 of the 2006 Regulations
have not Èeen met. or
bl to which. in my opinion, attenllon shoukl be drawn in order lo enable a proper underslandlng of Ihe
accounts trj reached.
Kf18tlna Bo￿0 FCCA
18 Ledi Road
Glasg¢)w G43 Z4J

The Sherbrooke Initiative Limited
Statement of financial activities for the year ended
31 December 2024
Notes
Total
fvndg
2024
Total
funds
2023
In¢oming resources from
9on•rnt•d funds
Voluntary Incom8
Investment Income
14,252
10,959
Incoming rnsourcgs from
Charltable actlvitio¥
16.245
3,270
Totsl In¢omlng r•8ources
R￿our¢￿ expended
Char¢table a¢livilies
30,497
14,230
16,467
14.411
Govamance costs
130
100
Total Re80urce8 Expended
Not movement In fund•
16,597
14,511
13,900
12,51XI)
14.723
1281)
Donotlons Mado
Totsl fund$ brought forward
Tolal funds carrfod forward
15,004
14,723
26,123
Note- Ihere are ￿ funds designated as restrI￿ed.

The Sherbrooke Initiative Limited
Balance sheet as at 31 December 2024
Note
2024
2023
Current a680ts
Debtors
4726
5,041
Bank
23,722
12,148
28,448
17,189
Crpdftorn
Falling due within one year
N•t CUTrent assets
2,325
2,466
26,123
14,723
Funds of the ¢harlty
G8n8ral funds
io
26,123
14,723
Totsl fiJnd8
26,123
14,723
Thgse accounts have been prepared with thg spe¢lal provlslon8 relating to sm811 companies ￿thin
Part 15 of the Companies Act 21
For the financial year ended 31M December 2024 the company was entitled to exemption from audit
under section 477 of the Compani8$ Act 20Ce and no notice has tseen depo$itèJ under gection 476
of tho Companies Aci 2006.
The Directors acknowtedge thelr re$ponsibililie¥ for ensurtng that the company keeps accounting
records whl¢h compty wth Section 386 of the Act and for preparing accounts which gwe a true and
fair view of the state of affairs of the company as at the end of the financial year and of its profil or
1089 for the year In accordano wth the requirements of Section 394 and 395 ar￿ which otherwise
comply with the requi￿rnents of the Companie8 Act 2006 relating to a¢counl$, 30 far as applicabte lo
the company,
Signed for and on behalf of the Board of Directorn by
R Baird
Tnjstee
The financial slatem8nts were approved by the Board C￿lI11ulY 2025

The Sherbrooke Initiative Limited
Principal accounting polices
The princip81 accounttng [￿l¢les, which have been applied consistenuy in dealing with Stems that are
considered material to the accounts are set out below. The Company has adopted the requlrements
of the Slatement of Recommended Practi￿.. A¢counling and RepoFting by Chariti8s (iB$ued
February 20051. The accounts of the Company are prepared on an accruals basis.
Ba$18 of pr8paration
The accounts have been prepared in accordan¢e Mth applicable &counting standards and und
the historical cost convention. and in accordance wilh lh& Charities and Trustee Inve$tm&nl
IScotlan(11 Act 2005, Th& Charities Accounts (Scotlandl Regulatsons 2006 and the Statement of
Recommended Pr8¢tlce.' Accounting and Reporting by Charilies120051.
Fufids of th• Company
Fund8 are ckssified as either re¥lrKted funth or unrestn'cknj fvnd8, deftned as foll￿.
Resmcw funds are funds gubject to SFrfifr requlrements as to tholr use ￿lch may tre declar•J by the
donor tr wilh IheSr authority or ueated through legal processes, bLrt Still wrthin th& oty'￿ts of the
Company.
unrestric￿ funds are expendable at the discretb)n ofthe TnBlees In furtherance of the (*4ects of I
Company. If parts of the unrpstn.cted furKls are earnarked at the disrydion of th8 Trustees for a
particular wrp)se, are desvJnaled ag a s•parate fund. Endowmenl fijnds are unrestricted funds
that have been gwen cn th8 ¢ondthcffl that the orfrjlnal captal sum is not red￿d, but the Inc(yme
therefrcm is used at the di8cretk)n of the Trustees for purpx)9es defined in xcordancewith the of
the Company.
Incomlng r880urc8s
I donalicns and glfts a￿ inrjuded w51hin Inccffilrrfj resc￿r￿ under ether unrestdct&d or reslrthd
nds accordirtg to the temis underwhich the donatK)n ts made and when the amount can ￿ quaDb"fied
wth Tea80nable ￿rtainty. DorétK)rn and gffts in kind are ￿Ought into the ￿Unts al their value
10 th8 Company.
R•8ourceJ ex￿nded
Expenditure 1$ reccgnisoJ on an accruals basis as the liabilty is incurred.
Tanglble fixed assets
All tangible fixed assets costing in extt$s of £1,000 having a useful life to the Company greater than
one year are capitalised. Currentty. the Company has no fixed asset&
Taxatlon
The Sherbrooko Initiative Limlted Is recognlsed as a chartty for the purposes of applicable taxatson
legislation and is therefore not subject to taxation on its charitable aclivilEs The Company is not
registered for VAT and resources expended therefore nclude all ifrecoverable input VAT.

The Sherbrooke Initiative Limited
Notes to the financial statements for the year ended
31 December 2024
1 Voluntary income
2024
2023
Donats'ons
11,670
8,815
Tax rernred on Gift Ald
2,582
2,144
14,252
10,959
2 Investment income
2024
2023
Int8rest
3 Incoming resources from charitable activitie8
2024
2023
Event InMme
16,245
2,870
Sundry Income
400
16,245
3.270
4 Analysis of resources expended
2024
2023
Charftable activiti¢F
Licence fee
Office & Administration
776
695
Staff costs
14.691
13.716
16,467
14.411
Support costs have nol been separatety identified as the Trustees consider there is only one
charitable activlty. Therefore support costs relate wholly to that activity and have not been
separately identif￿.

The Sherbrooke Initiative Limited
Notes to the financial ststements for the year ended
31 December 2024- continued
4 Analysis of resources expended. continued
Analy8is of staff costs
2024
2023
Salaries and
14691
13.718
Social 8ecurity costs
Total
14,691
13,716
Av•rage numbor of employees
2024
2023
No.
No.
Admlni31ralor
5 Governance costs
2024
2023
Independent examinerfs fees
130
100
6 Donations Made
During the year the Charity made one donation of £2,500 as a Contribution to the installation of an
8cc&88ible toilet in tho halls of Sherbrooke Mosspark Farish church12023 Nill.
7 Trustee remuneration and related party transactions
No Trustee recelvad any remunerat¢on during the year.
No Trustee or person related to a Trust89 had any pers￿al interest in any contract or transaction
entered Into by the InibatNe during the year.

The Sherbrooke Initiative Limited
Notes to the financial statements for the year ended
31 December 2024- continued
8 Debtors
2024
2023
Glft Aid tax refvnd
4.726
2,144
Sherbrooke Mosspark Church
2,897
726
5,041
9 Creditors
2024
2023
Accruals
741
1,810
Creditors due within 12 months
1357
857
Other creditors
227
2,325
2.467
10 Movement in funds
2024
Unrestrlcted fund8
General fund as al 1 January 2023
Surplus for the year
General fund as at 31 December 2023
14723
26.123
10

The Sherbrooke Initiative Limitsd
11 Control
The Ccffipany is controtleLI by its trustees.