REGISTERED CHAIUI'Y NUMBEI R., SC042032 Report of the Truste.es and Receipts & Payments Account For The Year Ended 31 March 2025 for THE MAIDSAFE FOUNDATION
THE IIIAIDSAFE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 IIIARCI12024 CONTENTS PAGE Tiustces Anniial Report Ito2 llldependent Exallyin'S Repoit Receipts ld Payinenl Account Slatemeiit of Balances Notes to the. Financial Stateittents
THE hL41DS.4FE FOUNDATION Report of the Trllstee$ YLAR LNDED 31 MAKC'H 2025 I'he Trustees, ptesent their report with the financial stalements ofthe ch&rity I'or the y. ended JI March 2025. REFEIiLNCE AND ADMILYISTRATIVE DETAILS Charlty i'egtstratiun uumber SC042032 Independellt F.XYdmlner McKiiinon & Lo Lld, ACPA 33 N¥wmarkeL Street, Ayr. l(A7 ILL STRUCTLIIE, GOVERNANCE AP4D MAIYAGEMENT 'rhc Ghai'ity is an unin¢orporatod ¢lltity rcgistred vlilh the OffiLe of the Sccbttish Clthrity Regujalor and is ¢onstiluted under a trust deed dated 26th November ?.0 l O. The curre.lit TrLI.Stee8 liave heen in post sin¥e the cbarity ivat4 coListitut¢d fAnd may I'emlin so until they intimate Tesignation. TnLStees megl io%ether, as r¢qLiired, lo manase tho dully operation of the Gharity. IndDetion TrAining of Triistees As all l-njstees haTre beell in posi since tlie chwity was coiisLilute,(L there has been no need to ¢r¢ate formal induLtion and tizining aangelentS foi" new 'lruste¢s. Lacli Trnste% has been pmvided with a copy of 'Guidance for Lharity 'lrustee8' published b). the office ol. the SLotti8b Charity Regulator and the charity's'l'rds't Deed to ¢nyure tbey ELK'Èwe of ie¥ponsibilitlL.hs a8 '1'iustees. Key Managemonl The Tru%leey L'ullbtiluted key m&llAgenietkt aL]d ale not reiDunerated. Risk Sy4leing and colluols over the recording of income and expelld1lrC have b¢¢n revi¢vied to eiisure thal" all inctsme alld paymellts are propcrly rccord.ca ad ¢i'idciicG by apprnpriate docuinai.tatiim. Other ri8k,$ have been xainind by Trusices and they are satisfied thal appTppriate 8lcps hai'e bee.n takLll to mage iheqe risks. Objeetives The objeLtiveg of the Fouiid&tioft are for the creatioll of opporiunity throiigh inllovation Ed ¢ducation its 80 E a8 such obJ'e¢ts oi object be defined being charitsble foi the PUiPOses of S&GtiDn 505 il Llie Iiicoille alld Corpuration Taxes, Ait 1988and SeLtioti¥ 7 dnd 8 of die CTharitie8 &tLd -I"ruslee Ivvestmenl {Scotland) ALt 2(105 &nd anv statOry mothfication or te-enact¢nt thereof for thc timL bLin¥ ill furLL widiuiit piLjudiLv ts) Ilie g¢llallry: The adiyncement of educatton. Tho advarL¢emenl of alt8, hei'itage, culture, sporLg or s¢ieii¢e. The relief nf thnse in need by re&son of age. ill-heaLth, disability, fll]all¢ial hard8hip (Jr other disadvanlag¢. Or such Dr more of the8e as Trustees iii their sole and aboolute dis¢reti&n llmy time to lime detennine. and for ]Y oth¢r charitabl= purwse or purpos¢s r¢co.unise L8 such b% the LaTr" of ScOtld which the TNstCwS ill tb¢iT sol¢ and absDlute dL5cretion consider would have been acceptabl¢ to thettL Page I
THE MAIDSAFE FOUNDATIor RL'port of thc Trustees YEI AR ENDED 31 .MARCH 2025 Attlvltlts, Aehlevements And PerfornithD¢e The Maidsafp Foundation Trust¢¢% Report for yle 31 March 2025 Activities, athieN'cinents and perfo17nanGe During die ye8r to 3 I hl&rch ?025 the Foiindation- Set Upy furnished wid decorated the Fowidation premi8e8 with etho,% of reuse, recycled and upcycled ]naterials. C¢tttre operted on 29 June ry024 and is now iised as the venue for STEM workshDPS tor local Schools, cTrlleges and commuritj groiips. hosting altercli00[ and school holiday bTE_IA related activitie4 and is made aitailable for use by othei non-profit grciUPS, In additiott STEM worksliops are reBiJlarly held offsile for local schoo18. colleges &tid Con}UnItY groups and Ibe FoLmdalioii participat in numerou8 loLal school STEM transition days. ParLILlPiltgd in tlie Glas'o()w' and Sc)utlieni Ayr31)irv BLosplicre Communili&i NelwoK'k. Tkie Biosphere lias helped with FoundAtIDll sununer workshrjps. wid the Foulldation kn Colltributed by introduLinB' STEM aLIIVLIiL%. Fundiri&Y roc¢xvLd io Lnabll Ihu fioundatioii lo wloy a s£wion&l work¢r for the dLkration of the fluid (Jul>' 2024 till March 2025), ApDlicd for &iid teceivcd project tiinding Irom Severnl orgaoi8atAons. nrg&niscd a Christsna8 marlccl iLicliidillg sfEM ocliviLics. Continiied Lo work on conlmunit) garden prO,t with i)articular referencc to how STEM relates to V*clivities ill the 8den. Plaiis fTrr futtLre period-. short I medium tenn - Fih¢r toll-out o". the STLM pacLs &nd engagem¢nt witkk Ayrshir£ cducation ¢stabli6bll¢ll1s OllLrlliiuity SIups. Continue to seek additional project funding. Approved by the'l'rnstses attd slgned on their behalf. Dec 9, 2025 Date rage 2
Independent ExAmlTher?s Report to the Trustees of MAIDSAFE FOU.YDATION I report on tlie accoullts for tlie yeftr elided 31 March 2025 gel out ott pages J and 4. Ttiis rcpoLI ig niadc to Ihc tNstcc8 as n body, in accordancc with the tcrLllS of my cngagcrn¢nt. My work !)a8 been Ulldertaken to enable llie to report my Qpillion a5 set oul below and for no ol'hei. piirpo8c. To thc fiill¢st oxlcnt pcmittrcd by I do not acccpt or a4siimc rcspov.sibility lo anyone othor tliall th¢ tntst¢¢8, lls a h(MJy* for my work or for this report. Reskpectlve respon%lbllltles of trustees And exllinlner The charits"'s rniste¢s (who ar¢ aisc) the direcTors of tlLe ¢Drnpany for th¢ piwyoses rf wmpany law) ar¢ re5pollsible for the preparatiott of the fillanci&l slatetneDt& ill accordance with the tern of the C..liarities and Trustee lllN'e8tn]ent (Scotland) Act 2005 and tlie Charities Accoullts (Scoiland) Regulations 2006. The tharity tru8tccs collsidcr that Ilic aud:t iequiremciir of Regulation 10(l) ja} to (cl ol. th¢ 2006 Accounts Resulations does not apply, It is iny respoll<ibilitY to exainin¢ th¢ COUnts as required wider s¢rtion 44(1) (c) of the Act and to slate whether particular KkiatteTS have come to my atlenlion. Bas1$ of the Indeyendent exRmlner's report My exxminAlion iy LIITfiLa out in YiLL)rdtwcL with RCguItin I l ot ttIL. 2006 AeL"ounls RegLIIAtiot)s. An cx&miLiatiM includes a review of the accouiiting rkncordg kept by the eh&rity and a cornparisoii of the fiIiAncial Statcrnents prcscnt¢d wqth tho$c r¢cords. It also inblud¢s cot)sidorntion of any unusual jtln oi di8LID¥iire,8 in the finAncial 8tat¢mcnts, find sccking explanations fiviii t.lic tStCeS conkncrning 8Dy such tD&tteTr. The pmoedures undertaken do not plvide all the ei4dence that ivoiild be reilLed ill an audit, and Onseq1)entlY no option is given as to whelh¢r the financial stPiement& pr¢8e,llt a 'tnke aiid fair vi. and th¢ r¢poTI is liinTrt¢d ts) iho4e rnatlers s¥t oirt tll the ststement Ixlow. Independent ex&mlner's statetnenÉ' In Ilic coiir5E of Tny cxatnillatio no rnattu has come to rny alleDlion.' {1) WhiLh gives Ane iEasorable caus¢ to belteve that, ill any niAterial ttspect, the ttoiiirements - to kccp accouiitiiig rLcords in Accordallce widi se.ction 44(1)(&) of the 2005 Act Alld i'ogulatiorj 4 of the Offi Accounts Rcgulations" <ind to prcpa.rc accoiinl.% which accoid with thc Coul7[7ng records and to comply with rcgul&lkon 8 of the 2006 Ac,coimts RelIa0. Have not b¢¢n et' or (2) To wliich, in niy opinioii, attentLOII should be drawn ITh order to enable a prtTrper understllnding of the account9 to be rvdched. N.II'.IKuu'L'I, & Co Lid. ACFI 33 Newmarket gtreot Ayr KA7 ILL Fge 2a
THE MAIDSAFE FOUNDATION Receipts and Payments A¢¢ount rlor the Year Ended 31 March 2025 2025 2024 Receipts tnvestsneiils Nil Cbaritable Activities 27.942 8,679 Comp¢n8ation 330 Nil Interesl. Nil Nil 28,272 8.679 Poyment8 Payments or charitable actlvltle8 Stafffwages & PAYE 28,819 24,880 Office RLinning Costs 13,098 5,315 Event Costs 3,106 3,044 Pr.oject Costs 1,512 3.952 Deprecialioii 581 727 47,116 37,918 Governan¢¢ Costs A¢¢ounlFAnGy 360 360 47,476 38,278 Total Payments Surplus l (Deflclt) for year ALI Funds ar¢ r¢stricfrd (19,204) (29.599) Page 3
THF. MAIDSAVE fouNDATION STATEIENT OF BAL.ANCES AT 31 MARC.H 2025 2025 2024 Flxed Assets Tangibk Fixed Asset 2,325 2,906 Current A88ets Ilank Accounts C88h on H&nd Loan- Vlargaret Donald 8,511 25,802 3,700 5,0 12.245 30,870 Current Llabilltles CreditorslAccivls 2.060 2,060 Net Current Ltabllltle8lA$$et8 10,l85 28,810 Total Assets Les8 Current Llabilities 12,510 31,716 Repre8enting: lJnre.qtricted Fuiids 12,510 31,716 d bi. th= Tiiisti cf anil sirned on tlieir behalf Page 4
TBE MAIDSAFE FOUNDATION NOTES TO THE FINAFICIAL STATEMENTS YEAR ENDED 31 MARCH 2025 A¢¢ountlng PoliL4¢8 Basis of preparnlion I'li¢ fIll&l¢t statell]¢tits have been prepared Oll a going Collcern basis ID a¢cOrdl¢¢ with applicable accoimting standards aLid under the historical cost Convention. The cbarity is a Piiblic Benefit Entity. The finatscial sta¢eineiits are complaint with the ¢hatity's ¢OllStilvtion, the Charities and Trustee Investment {Srolland) A¢i 2005, the Lharities A¢¢ouiits (S¢otland) Regulations 2006 (as amended}, the Statemeiit of Recommended Practic,¢ (SORP) FRS 102 "Aecounting and Reporting by CliariÉies" (ievised 2018), and in c¢ordan¢e witli Finaiicial Reporting Standard l O?. IFRS 102). Tli¢ finLlnci. statsments al'e prepared in Stsrliiig which is the functional CiUTency of the cliarity. Monetary amounts in diese binanci&l statements are rounded to the lleare8t £. Golng Concern Trustees regularly monitor the fulldiiig streams and evalu&te tlie projected expendifiV and tlie fl'ee ieserves ihich al'e available And have concluded that there is a r¢asouable ¢xpev'iation that tbe chaiity has adequate resoiirces to conts.nue in optiOnal ¢xist.eiice foT the foreseeable thl'ui'e. These financial stateinents have tberefore been prepared on the goillg concern basis which assumes that tb¢ charity will continue its opeiBtions. IllLome Income is recognised when the cbarity Ilas ¢ntitleTn¢iit to the futLds, any performance conditions attached to the iteiu of income have been met, il ig probable that tlie incotne will be itceived and the aniounl Laii be measured reliably. Cliarithble incotne relates to amouLlts generated from its Gh&ril&ble activities and donations re¥eiY¢d towards perfortnillg these diities and 18 recognised on d¢bv¢ry of ihe service wbicb is when the cl]arity is pnltlled to IL Income from investsn¢ntS IS TttLognL8ed whell receipt is piobable and the amounts can be rneaswed reliably. This is usu&lly upon receipt. Expenditure Eixpenditure is recognised once there is a legal or cotkslructive obligation to nuke a payment to a third party, it is probable that settl#ment will be requiied and the arnouijt of obligation can be measured reliably. All expenditure of die charity, oiiee inclli'red. is Considered either a direct charitable activitable cost or a suppoit cost, C'harltablv cxpendilure is that applied in th¢ delivery of the Lharitable objectives. Suppoil costs iEILlude g0veMCe costs wbicli are lliose a&50Giated with the charity's goveiiknance infrdsl'ructure. ri ixed Assets Tangible fixed assets art beld at cost less nUaL depreciation Depreciation on complltsr eguipinent is prowtded at 200/0 per anniim in order to write off each assLt over its estilliated useful life, IDvesthJents ompriso shareholdiiigs iii a tected company and are held at cosL'. Debtors Trade and other debtors are r¢cognised at the settlement moiint diie after any trade dtsLounts offered. Prepayrnents ar¢ valued at th¢ amoullt pr¢paid after lakittg accoullt Df ally trade discounts due. Cash and cash equivalents Casli at bank and in hand tncludes cash 1( nd short t¢rm highly liquid investments willi a short maturity of three months or less fTom Ibe date ofacquisitioii or openuig of the d¢posiL or similar account. Pagc 5
THE IVIAIDSAFE FOUNDATIODI NOTES TO THE FINANCIAL STATEMENTS YEAR fi,NDED 31 MARCH 2025 Credltors and provisions Crediloi's and provisions are iecognised wher¢ the ¢h&rity has a Present obli8atLOlI r¢sulting frorn a past event that will probably result in the tr]sfer of funds to a third party and the ainuunt due to setile tlie, obligation ran be ineasw'ed or estinted reliably. Creditoi's 8nd provisions &re normally re¢o8nised at tlieil settlement atnount after allowing for any trade discounts due. Flnancial illstrument The charity only has fiCIal asset8 ]d fInaocial li&bilities of a Iciod that qualify as basic flltsncial ingtnimenls. Basic financial iiistruments are initially re¢ogrtised al Irallsaction value and gLib8equently measured at i.h¢ir settleet[t value. Fllnd3 Unrests'icted funds are avail&ble for use at discretion of the Trustees in fiutherance i.he gejjeral objectives ot tb¢ Charity. Restrictsd fiinds are subjected ID resÈri¢tions on thLir expeThditure imposed by the funder. Currency translatlon Monetwy as8¢ts and liabfjities denoiniJ]uted in curr¢ncfjes other than the base currency are tt'anslated into sterling al the rates of excliange ruling at the balance sheet date. Trans&ctions in niuencies othei. tban the harity's base cuffellcy are r¢cord¢d at tho rg¥te tuling at the date of the transa¢tion. All differeLices are taken to the profLt loss account. Tax#tlon e che6rity has been granted charilabltt st&t118 by HM Revenue and Customs and is a registered charity. The eharity is therefore not siibjeLt to corpoi'atioll lax oll ally SLI15C8 ihut have been derived ill piirsiiillg activities d¢signed to carry out Ihc main Ub]t& O'F ils charitable status. icome from clithrit#ble #ctlvltles- Ullrestrlct¢d funds 2025 2024 Charitabl¢ Activiti¢s Other charitable incoine Compcnsation Interest 27,942 Nil 330 Nil 8,679 Nil Nil Nil 28272 8,679 Expenditure on charitable actlvltles- Unrestricted fundg 2025 2024 Event Costs Project C08ts Support Costs (nots 4) 3,106 1,512 42,858 3,044 3,952 30,922 47,476 37,918 P8Be S
TKE, TrIAJJ)SAFE F(}U A TION NOTES TO THE I1'INNCIAL STATEMENTS YEAR fi,f4DED 31 LVI.4RCH 2025 lixpeAdLture on charltable actlvltle8- Unrests.Icted fuRds 2025 2024 SLuff Cosly orriLe Running Costs DepirciauoLI fiovemance C.i)st% HMRC L&t¢ Fee 28.819 13,458 581 Nil Nil 24,R%O 5,3l5 727 Nil 42,858 30,922 Iikned Assets Comyuter Equipment Cost As HI l April 2024 Addiuon- 11,767 Dcpr¢ciHtion Ai at l April 2024 Ciwge lor yedr 8,861 581 Net Bnok VAlue As at 31 M&tch 2025 2.325 JMve5tment.$ Th¢ fouudauon owns 550,538 ordirwy Sha8 of £i).OnOI cach in maids(Lfe.n¢t. This r¢pr¢sents 27D/a Qt the issued share capital of this cOLpany. These were dotsat¢d by n 19thMaTch 2011. Creditors 2Q2S 2024 A¢crnals 360 360 Soci81 SuTItY and othcr tsttes 1,700 L,700 2,060 2,060 Funds Th¢ Ma:dsafc Foundation bas no r¢striGt¢d fund& P&s¢ 5b
THE MAIDSAfE FOUNDATION NOTES TO THE FINANCIAL STA TEMlll¥TS YEI AR EIYDED 31 MARCH 2025 Related party transctlon$ During the yeai. maidsafe.net ra&de a dollation ot £Nil to the Foimdt¢tion. TrL18tees constitute key inanagemeiit of the charity. Trustees do not receive r¢niuneratioA for their Services. No exp¢iis¢s weie reimbursed to truslees in eitlier tkLL' ¢iirrent or previoiis years. io. Related party trAnsactlon$ The Maidsatr¢ Foundation is consliMt¢d by Trust Deed aiid is controlled by ils elected Bow'd of TnLtees. Page sc
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