2025-06-30-accounts

COMPANY REGISTRATION NUMBER SC452721

KARELE LTD

COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 30 JUNE 2025

Charity Number SC0 45303

KARELE LTD COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

Contents	Page
Members of the Board and professional advisers	1
Directors Report	2
Independent examiner’s report to the trustees and members	4
Statement of Financial Activities (incorporating the
income and expenditure account)	5
Balance sheet	6
Notes to the financial statements	7

KARELE LTD COMPANY LIMITED BY GUARANTEE

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS

Registered charity name	Karele Ltd
Charity number	SC045303
Company registration number	SC452721
Registered office	30 Dobson’s Walk
	Haddington
	EH41 4RU
Directors	C Ferguson
	J Sulaiman
	S McNab
	C Barratt
	A Curran
Independent Examiner	Alan Greig CA,
	A G Greig Chartered Accountant & Registered Auditor
	1 Millar Grove
	Hamilton
	ML3 9BF

KARELE LTD COMPANY LIMITED BY GUARANTEE

DIRECTORS’ REPORT

YEAR ENDED 30 JUNE 2025

The Directors present their report and the unaudited financial statements of the company for the year ended 30 June 2025.

Reference and administrative details

Reference and administrative details are shown in the schedule of members of the board and professional advisers on pages 1 to 2 of the financial statements.

Directors

The Directors who served the company during the period were as follows:

C Ferguson J Ferguson (resigned 2 May 2025) J Sulaiman S McNab C Barratt I Clark (resigned 31 October 2025) A Curran (appointed 25 January 2025)

Structure, governance and management

Karele Ltd Limited is constituted as a company limited by guarantee and recognised as a charity by the Office of Scottish Charities Regulator and HM Revenue and Customs. The company is governed by its Directors who sets overall objectives and policies as well as overseeing and controlling activities.

Objectives and activities

The principal activity of the company is to provide Equine Facilitated Learning and Activities to a wide range of individuals.

Achievements and performance

KARELE is at present working out of Sunnyside Farm near Haddington with 40 – 60 clients and with developing partnerships with a wide range of other groups.

Financial review

The results for the year to 30 June 2025 show a deficit for the year of £23,745.

Going Concern

The company has liquid financial resources. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Plans for future periods

• To continue to develop multi social benefit through our business

• To expand our service to other user groups ( War Veterans , Dementia Friendly )

• To purchase a bespoke site to suit multi social needs ( Sunnyside Farm )

• To purchase a horsebox and provide our service in the community

• To become self sufficient

• To become a grant provider to other social enterprises

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Responsibilities of the Directors

The Directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Directors are required to:

· select suitable accounting policies and then apply them consistently;

· observe the methods and principles in the Charities SORP;

· make judgements and estimates that are reasonable and prudent;

· state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable it to ensure that the financial statements comply with the Companies Act 2006. The Directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Registered office: 30 Dobson’s Walk Haddington EH41 4RU

Signed by order of the Board

C Ferguson Director

24 September 2025

Castherine Ferguam

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KARELE LTD COMPANY LIMITED BY GUARANTEE

YEAR ENDED 30 JUNE 2025

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES AND MEMBERS OF KARELE LTD

I report on the accounts of the charity for the year ended 30 June 2025 that are set out on pages 5 to 10.

Respective responsibilities of the Directors and Independent Examiner

TheDirectors 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 council considers that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 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 2006 Accounts Regulations. 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 donot 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 aspect the requirements:

2. to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and

3. to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations

have not been met, or

1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ACE Alan Greig, A G Greig Chartered Accountants & Registered Auditors

1 Millar Grove Hamilton ML3 9BF

24 September 2025

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KARELE LTD COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 30 JUNE 2025

		Unrestricted	Restricted	Total Funds	Total Funds
		Funds	Funds	2025	2024
	Note	£	£	£
Incoming resources
Incoming resources from
generating funds:
Voluntary income	4	57,119	–	57,119	58,912
Activities for generating
funds	5	87,986	–	87,986	71,991
Investment income	6	-	–	-	-
		----------------------------	----------------------------	----------------------------	----------------------------
Total incoming resources		145,105	-	145,105	130,903
		----------------------------	----------------------------	----------------------------	----------------------------
Resources expended
Charitable activities	7	(168,500)	–	(168,500)	(105,940)
Governance costs	8	(350)	–	(350)	(350)
		----------------------------	----------------------------	----------------------------	----------------------------
Total resources expended		(168,850)	-	(168,850)	(106,290)
		----------------------------	----------------------------	----------------------------	----------------------------
Net incoming resources
for the year	9		-
Realised Gains/(losses)		-	-	-	-
Unrealised Gains/(losses) on
investments		-	-	-	-
		----------------------------	----------------------------	----------------------------	----------------------------
Net movement in funds/net
income for the year		(23,745)	-	(23,745)	24,613
Reconciliation of funds
Total funds brought forward		24,958	-	24,958	345
		------------------------------------------	------------------------------------------	------------------------------------------	------------------------------------------
Total funds carried forward		1,213	-	1,213	24,958
		==========================================	============================	==========================================	==========================================-

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 7 to 10 form part of these financial statements.

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KARELE LTD COMPANY LIMITED BY GUARANTEE

BALANCE SHEET (continued)

30 JUNE 2025

			2025	2024
			£	£
Fixed assets
Tangible assets			-	-
Investments			-	-
			------------------------------------------	----------------------------------
			-	-
Current assets
Stocks		-		-
Debtors	11	-		-
Cash at bank and in hand		1,213		24,958
		----------------------------		---------------------------
		1,213		24,958
Creditors: Amounts falling due within one year	12	-		-
		----------------------------		-------------------------
Net current assets			1,213	24,958
			------------------------------------------	------------------------------
Total assets less current liabilities			1,213	24,958
			------------------------------------------	-------------------------------
Net assets			1,213	24,958
			==========================================	==========================================
Funds
Restricted income funds			-	-
Unrestricted income funds	13		1,213	24,958
			------------------------------------------	----------------------------------------
Total funds			1,213 ==========================================	24,958 ==========================================

For the year ended 30 June 2025 the company was entitled to exemption from audit under section 477of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

• The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies’ regime.

These financial statements were approved by the councillors and authorised for issue on 24 September 2025 and are signed on their behalf by:

C Ferguson

Director

Company Registration Number: SC452721

The notes on pages 7 to 10 form part of these financial statements.

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KARELE LTD COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

1. General information

• The charity is a private company limited by guarantee, registered in Scotland and a registered charity in Scotland for public benefit. The address of the registered office is 30 Dobson’s Walk, Haddington, East Lothian, EH41 4RU.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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KARELE LTD COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

Resources expended

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the Statement of Financial Activities. The charity is registered for VAT. All items of expenditure are accordingly shown exclusive of VAT.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Office Equipment - 20% Reducing Balance

4. Voluntary income

	Unrestricted	Total Funds	Total Funds
	Funds	2025	2024
	£	£	£
Donations
Grants and donations	57,119 ============================	57,119 ============================	58,912 ===========================

5. Incoming resources from activities for generating funds

		Unrestricted	Total Funds	Total Funds
		Funds	2025	2024
		£	£	£
	Tuition activities	87,986	87,986	71,991
		-----------------------	-----------------------	--------------------------
		87,986	87,986	71,991
		=======================	=======================	===========================
6.	Investment income
		Unrestricted	Total Funds	Total Funds
		Funds	2025	2024
		£	£	£
	Income from UK listed investments	-	-	-
	Other interest receivable	-	-	-
		----------------------------	----------------------------	------------------------------
		-	-	-
		============================	============================	===========================

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KARELE LTD COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

7. Costs of charitable activities by fund type

		Unrestricted	Total Funds	Total Funds
		Funds	2025	2024
		£	£	£
	Administration Costs	168,500	168,500	105,940
		============================	============================	============================
8.	Governance costs
		Unrestricted	Total Funds	Total Funds
		Funds	2025	2024
		£	£	£
	Professional fees & other charges	350	350	350
		-----------------------	-----------------------	---------------------------
		350	350	350
		=======================	=======================	============================
9.	Net incoming resources for the year
	This is stated after charging:
			2025	2024
			£	£
	Depreciation		-	-
			==============	==============
10.	Staff costs and emoluments
	Total staff costs were as follows:
			2025	2024
			£	£
	Wages and salaries		-	-
	Social security costs		-	-
			----------------------------	----------------------------
			-	-
			============================	============================
	Particulars of employees:
	The average number of employees during the year, calculated on the		basis of full-time	equivalents,
	was as follows:
			2025	2024
			No	No
	Number of administrative staff		-	-
			==============	==============

No employee received remuneration of more than £60,000 during the year (2024 - Nil).

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KARELE LTD COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

11. Debtors

1. Debtors
				2025	2024
				£	£
Trade debtors				-	-
Other debtors				-	-
				-------	-------
				-	-
				=======================	=======================
2. Creditors : Amounts falling due within one year
				2025	2024
				£	£
Trade creditors				-	-
Deferred income				-	-
				============================	============================
				-	-
				============================	============================
3. Unrestricted income funds
Balance at		Incoming	Outgoing	Gains and	Balance at
1	Jul 2024	resources	resources	losses	30 Jun 2025
	£	£	£	£	£
General Funds	24,958	145,105	(168,850)	-	1,213
	==========================================	============================	============================	============================	==========================================
Grant Income		£
Magdalene Hospital Trust		1,500
Dr Guthrie’s Trust		1,000
Edin and Lothian trust Fund		2,000
Stafford Trust		4,000
Robertson Trust		9,000
Skipton		4,500
Anton Jurgen		5,000
The Cordis Trust		3,000
Hargreaves Foundation		10,080
Foyle Foundation		4,000
Volant Trust		4,800
Dunbar and East Linton Partnership		4,921
Haddington Sand Lammermuir Partnership		2,318
Dr Guthrie’s Trust		1,000
		57,119

12. Creditors : Amounts falling due within one year

13. Unrestricted income funds

14. Analysis of net assets between funds

	Tangible		Net current
	fixed assets	Investments	assets	Total
	£	£	£	£
Unrestricted Income Funds	-	-	1,213	1,213
	--------------	------------------------------------------	-----------------------	----------------------------------------
Total Funds	-	-	1,213	1,213
	==============	==========================================	=======================	==========================================

15. Company limited by guarantee

The company is limited by Guarantee, as such, on winding up each member's liability is restricted to £1.

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