The Sherbrooke Initiative Limited Annual report and accounts for the year ended 31 December 2025 Company Nurnber SC333410 Charlty Numbar SC039178
The Sherbrooke Initiative Limited Annual report and accounts for the year ended 31 December 2025 Contents Legal and Adminislralive Information. Trustees, annual report Repcirt of the Independent Examiner for the year ended 31 December 2025.................................. . Slalement of Financial Activities for the year ended 31 December 2025.... Balance Sheet as at 31 December 2025.... ........ Principal aOuntIng pollcies.... Note$ lo the financial slalements for the year ended 31 December 2025 ......
The Sherbrooke Initiative Limited Legal and Administrative Information for the year ended 31 December 2025 Trustoes Rev A Dillon Mr R Baird Mr G Borland Mr S Manson Dr H M¢Donald Ichalrman) (Treasurer) Secretsry Mr G Borland Roglstered Offlce and Contsct address 240 Nilhsdale Roacl Pollokshields Glasgow G41 SAD Bankern 8ank of Scotland Pollokshields Branch 238 Albert Onve Glasgow G412NL Independent examlnor Krislina Bowie FCCA 18 Ledi Road Glasgow G42 2AJ Company Number SC333410 Charlty Number SC039178
The Sherbrooke Initiative Limited Trustees. annual report for the year ended 31 December 2025 The Trustees present their annual report and the accounts for The Sherbrooke Initiative Limited lor the year ended 31 December 2025. The accounts comply wtth current slalutory requirements, the Memorandum and Articles of As$ocialion of the Inilialive and the Sialement of Recommended Practice- A¢¢ounling and Resx)rting by Charities. The legal and administrative Information set out on page 1 forms part of this report. structure and gov•rning document The Inttiative is a private company Ilmiled by guarantee and with chatable status It1S governed by the terms of ils Memorandum and Articl&s of Association R•cruitm8nt and 4ppolntm6nt of Trustees {Dlrector4) The rules surrounding the appointment of Trustoes (who are tho dire¢tors of the Inilialivel are contained in the Inilialive's Articles of Association. Trustees may be appointed by ordlnary resolution of the members of the Inillalive or by a decision of the Trustee8. The number ef Tnjstees shall not b8 less than kn bul there is no maximum number. Tru8tee• The names of the Truste6$ on the date this annual report was approved by the Trustees are set out on page 1 As a pnvate chartsble ¢ompany limited by 9uaranlee the Iniliative does not have a share eapitsl in which the Twslees can hold Inte$1$. Objèctlvgs and activ1•$ The objectives of the Initiative are to encourage greater community und•rslanding wthin the parish of Sherbrooke Mosspark Church, Pollokshields, Glasgow and beyond, lo promote the advancement of citizenship and community development and the educalion of the public in relation Iherelo and lo advance the art5, heritage, culture and $¢ien¢e During this year, the Initiative continued to promote the church as a place where all ¢ommuntty groups can meet. The Initiative has enlgred into an agreement with the church regarding the letting of church prernises. Thus, while donations continued to be received on a slmilar scale lo previous years. the holding of music events in the churth raised si9nificanlly more than previously. Thè addional funds have allowed the reinslalemenl of the music scholarships which the charity previously offered The charity currently has three scholarhsips in payment to choir n7embers vtho are currently in ftjll lime educatson. The Initiative has also made an initial contribution to an improvement scheme for the Church ¢tsnrt facilities during the year, and has made further ¢onlribulions after the dale of the accounts.
The Sherbrooke Initiative Limited Flnanclal Tgview There was a significant surplus for the year. The statement of financial activities on page 5 gives details of the financRI transactions during the year. ReBerveB Pollcy 11 Is the policy of the Initiative to build and maintain free reseNes of a level sufficient to support its ¢urrenl activities In the event of a signiflcant drop in incKsme. As at 31 DecemtEr 2025 the Initrattve had free reserves of £30,968 which Included a cash balan¢e of £32,094 Th& Twstees consider this a more than ample level of reserves having regard to the cuffent annual expenditu level, which 1$ in the region of £20,000 The combination of the new lelling agreement and continuing gift aid commmitments pul the Initiative ¢Jn a sound financial footing going forward. The additional contributions after the ciose of the year have reduced reserve5 but they remain at a level consistent with the charity's policy. Statemgnt of TTUStees' rn8ponslbllltie8 The Trustees are responslble for preparfng the accounts In accordance wlth appllcable law 2nd pr8cli¢e and the Tru$tee8 are required to prepare accwnls for each financial year, which show a true and fair view of tho financial xtivilies of the charty during the financial ygar and the Slate of affairs of the charity as al the end of the financial year. In preparfng those accounts, thg Trustees are requlred to. select suitabl8 accounting policie$ and then apply them Consistently- make judgements and estimates that are re83onable and prudent., stale wh&lher applicable accounting standards and statements of recommended practice h8ve been followed. subject to any departures disclosed and explained In Itt8 nnancial 8lalement$', and prepare the financlal statements on the going concern basis unless St Is inappropriate to presume that the charity wll continue in operational existence. The Trustees are responsible for keepin9 proper accounting records which disclose wth reason8ble accuracy at any lime the financial position of the InilialNe and lo enable Ihern lo ensure that tha acGounls comply with the Companies Aci 2006 and the Charities Accounts IS¢ollandl Regulations 2006. They a also spOnsible for safeguarding the assets ot the Initiative and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Company R•gi$tratlon Number The Company's registration number is SC333410. Small Cornpany disclosure These accounts have been Ppad in accordan with the $pe¢ial provislons of Part 15 of th& Companies Act 2006 relating to small companies. TTu51ee June 2026
The Sherbrooke Initiative Limited Independent examiner's report to the Trustees of The Sherbrooke Initiative Limited I report on the accounts of the charity for the year ended 31 December 2025 which are Sel out on pages 5 to 10. Respective responsibllltles of trusteeJ and gxaminer The charity trustees are responsiblo for the prepardtion of accounts In accordance with the terms of the Chanlies and Trustee Investment {Scollandl A¢t 2005 and the Charities Accounts Iscollandl Re9ulalions 2006. The Gharity trustees consider that the audit requirement of Regulation 10111 Id} of the 2006 Regulations doès not apply It is my respcinsiblllty to examine the accounts under section 44111 Icl of the Act and to stale whether particular matters have come to my attention. Ba818 of Sndfrpondent examiner'8 8tatement My examination is carried out in accordanee wlh Regulation 11 of the Charillés A¢¢ounls (Scollandl Regulations 2006. An examination Includes a review of the accounllng records kept by the charlty and a comparison of the accounts presented with those records. It also includes wnsideralion of any unusual item$ or disclosures in the accounts. and seeknng explanations from th8 trusteos ¢on¢eming any such mallers. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audtt oplnlon on the view given by the accounts Independent examlner'8 8tatem•nt In the course of my examination ol the accounts for the year ended 31 Decemer 2025, no mattar has come to my att8ntion'. 81 whtch gwe$ me reasonable cause to believe that in any material respect th8 requiremenl8'. to keep aceounling COrdS in accordance with Section 4411 Ila) of the Charities and Trustee Investments IS¢olland) Ad 2005 and Regulatlon 4 of tho 20C6 Regulallons.. and lo prepare accounts which accord with the armunling records and Compty vthh Regulation 8 of the 2006 Regulations have not been mel, or b) to which, in my opinion, attention should be drawn in order to enable a prop•r unttorslanding of the a¢¢ounts to be reached. Kristina Bowle FCCA 18 Ledi Road Glasgow G43 2AJ yllJune 2026
The Sherbrooke Initiative Limited Statement of financial activities for the year ended 31 December 2025 Notes Total funds 2025 Totsl funds 2024 Incoming resources from generatsd funds Voltjntary income Investment in¢orne 10,415 14,252 Incoming resource$ from chAritable activiti$s 19797 16,245 Total incomlng resource• R•sourGes g¥p•nded Charitable activities 30,260 30,497 20,285 130 16,467 Gc)vem8nce costs 130 Total Re50urce8 Expendad Net movoment in funds 20,415 16,597 9,845 {5,0001 13,900 {2,500)- 14,723 26,123 Donatlons Mad8 Total funds brought forward Total funds carrlod forward 26,123 30,968 Note- there are no frJnd5 designated a5 re5tricled.
The Sherbrooke Initiative Limited Balance sheet as at 31 December 2025 Note 2026 2024 Current assets Debtors 1.921 4,726 32,094 23,722 Bank 34,015 28,448 Credltors Falling due within one yeaT Not current assets 3.047 2,325 30,968 26,123 Funds of th• charlty General fvnds 10 30,968 26,123 26,123 Total fund8 30.968 These accounts have been prepad with the special provlsions relating to small ¢ompani8s thIn Part 1 S of the Companl8s Act 2006. For the financial year ended 3111 December 2025 the company wa8 entled to exemption from audit under section 477 of the Companies Act 2006 and no notice has been deposited under section 478 of the Companies Act 2006 The Directors acknowledge Ihelr responsibilille8 for en8urlng that the company keeps aexounting records which comply wth Section 386 of the Act and lor prepanng accounts which give a true and fair view of the st*e of affairs of the company as at the end of the financial year and of Ils profit or loss for the year in accordance th the requirements of Section 394 and 395 and which otherwis8 Comply with the requirements of the Companies A¢1 2006 relating lo accounts. so far as applicable to the company. Signed for and on behalf of the Board of Directors by R Baird TTUStee The finan¢lal statements were approved by the Board cn14June 2026
The Sherbrooke Initiative Limited Principal accounting polices The principal 2ccounting policies. which have been applied consistently in dealing with item5 that are consideied material to the accounts are sel out below. The Company has adopted the requirements of the Statement of Recommended Practice. Accounlirg and Reportlng by Charities (issued February 200SI. The accounts of the Company are prepared on an accruals basis. 8851$ of preparation The accounts have tsen prepared in accordance with applicable accounling standards and under the historical cost convention. and in accordance with the Charities and TIu8lee Investment {Scollzndl Act 2005. The Charities Accounts {Scollandl Regulalien$ 20Ce and the Statement of Recommended Practi. Accounting and Reportin9 by Charilies12005). Funds ofthe Company Funds are clas5ifJed as 8th8T restrKted funds or unrestricted funds. defined as folltrus. Re51rKled funds are fvnds subi'ect to spe¢ffi¢ requirements as lo their use whkh may be declared by the djnor or with Ihe7r authority or ¥ted through legal pr¢xesses, but still wlhin the oblecis of the Company Unr&strrted funds are expendable al the digcrelion of the Trustees in fijrtherance of thg objects of the Company If parts ol the unreslncted lunds are 88mi8rked al the di8crelion of the Trustees for a parttCLtlar purpose, they aro designated as a separate fund. Endowment hjnds are unrestricted fvnds that have been given 13n the condOn that the orlginal ¢aylal sum 15 not redLKed. bul the income therefrom 1$ used at the dlscretkjn of the Tiuslees for purw8e8 defined In rdance with the Otyect8 of the Company Incomlng r•source8 All donations and gifts are induded wlthln inming resour¢es under either unrestrited or restricted funds according lo the terms under which the donation is made and then the amount can be qu3ntified wth reagonablo eertainty Oonations and gffts in kind are brought into the accounts al their market value lo the Company. Re8ourc•s expended Expendlture is recognised on an accruals b3sis as the liabilty is incurred. Tangible fixed assets All tangible fixed as5els costing in ex¢es¥ of £1,000 having a useful life to the Company greater than one year are capitalised. Curiently. the Company has no fixed assets. Taxatlon The SheroOke Initiative Limited is recognised as 8 charity for the pury)oses of applicable taxation legislation and Is therefore not subject to taxation on its chzritable aclivilies. The Company is not registered for VAT and resources expended therefore include all irrecoverable input VAT.
The Sherbrooke Initiative Limited Notes to the flnancial statements for the year ended 31 December 2025 1 Voluntary income 2025 2024 Donation8 8,380 11,870 Tax recovered on Glft Aid 2.035 2,582 10,415 14,252 2 Investment income 2026 2024 Interést 3 Incoming resources from charitable activities 2025 2024 Event Income 19,797 16.245 19,797 16,245 4 Analysis of resources expended 2025 2024 Charltable activltles Licence fee 1000 1000 Office & Administration 611 778 Scholarships 2650 Staff costs 16.024 14.691 20,285 16,487 Support costs have not been separately identified a5 the Trustees consider there is only one charitable actsvity. Therefore support costs relate 01 to that activity and have not been separately identified.
The Sherbrooke Initiative Limited Notes to the financial statements for the year ended 31 December 2025 - continued 4 Analysis of resources expended, continued Analysis of staff costs 2025 2024 Salaries and dgeS Social 8ecuMty costs 18,024 14.691 To181 16,024 14,691 Average number of employèas 2025 2024 No. No. Adminislfator 5 Governance costs 2025 2024 Indopend8nl examlner's fees 130 130 6 Donations Made During the year the Charity made one donation of £5,000 as a contribution to the installation of new riser5 for concert purpDSaS in the sanctuary of the Sherbrooke Mosspark parish church12024 £2,500). 7 Trustee remuneration and related party transactions No Trustee received any remuneration dunng the year. No Trustee or person related to a Trustee had any personal interest in any contract or transaction entered into by the Initiative during the year
The Sherbrooke Initiative Limited Notes to the financial statements for the year ended 31 December 2025 - continued 8 Debtors 2Q25 2024 Gift Ald tax refund 1,921 4,726 Sherbrooke Mo$$park Church 1,921 4,726 9 Creditors 2025 2024 Aecruals 1351 741 Creditors duè within 12 months 1696 1357 Other creditors 227 3,047 2,325 10 Movement In funds 2025 Unrgstrlctgd fund5 General fund as at 1 January 2024 26,123 Surplus foT the year Gengral fund as at 31 December 2025 30,968 11 Control The Company is controlled by ils trustees 10