**REGISTERED CHARITY NUMBER: SC045792** **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024** ## **FOR** **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** Azets Audit Services Chartered Accountant Titanium 1 King's Inch Place Renfrew Glasgow PA4 8WF **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024** ||**Page**| |---|---| |**Report of the Trustees**|1 to 3| |**Independent Examiner's Report**|4| |**Statement of Financial Activities**|5| |**Balance Sheet**|6| |**Notes to the Financial Statements**|7 to 14| |**Detailed Statement of Financial Activities**|15| ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024** The trustees present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019). The financial statements comply with the Charities and Trustees Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the charity's governing document. ## **OBJECTIVES AND ACTIVITIES** ## **Charitable objectives** To relieve poverty and to give relief to those in need by reason of financial disadvantage and homelessness by operating a cafe at St George's Tron Church of Scotland which provides workplace employability placements to clients of Glasgow City Mission or such other agencies as are or may be deemed appropriate. To give relief to those in need by reason of financial disadvantage and homelessness, and to relieve poverty by donating all profits from the cafe to Glasow City Mission and Bethany Christian Trust or to such other agencies having the same or similar objective, to further their work in Glasgow. To advance religion by promoting, contributing to and supporting the charitable objectives of St George's Tron Church of Scotland (registered charity in Scotland SC004931) as a place of Christian worship, fellowship,instruction, mission and service. ## **Principal activities** The Wild Olive Tree shall operate a cafe open to the general public, providing work placements to clients of Glasgow City Mission or other agencies deemed appropriate by the Board. The Wild Olive Tree shall donate all profits to Glasgow City Mission and Bethany Christian Trust and shall operate a 'gifted soup and coffee' scheme which allows members of the public to purchase a soup or coffee for the cafe to give to someone who is vulnerable and unable to pay. ## **ACHIEVEMENT AND PERFORMANCE** ## **General Performance 2023-24** The start of the 2023-24 year was marked by a surprisingly dramatic upturn in trading figures, with the café consistently welcoming above-average numbers of customers throughout the summer season, which had previously been the quietest trading quarter of the year. This increase contributed to a continuing financial recovery in the post-pandemic period, allowing financial reserves to be built up once again, whilst still allowing a generous disbursement of funds to our two charitable beneficiaries, Glasgow City Mission and Bethany Christian Trust, who each received £2,500. ## **New Investment** In addition, the healthier financial position allowed the Trustees to invest in improvements to the café operation, by purchasing a new Electronic Point of Sale (EPOS) system, intended to streamline the processes whereby orders are received by the kitchen, and thus improving the customer experience swifter, and ensuring shorter service times and a swifter and more efficient throughput of business. ## **Donations Scheme** Having been successful in making application to Stagecoach and to the Charities Aid Foundation for grant assistance, we received a total of £1,500 towards the ongoing funding of our donations scheme, largely funded by customer donations, whereby the café is able to offer free food and drink on a daily basis to those who are unable to pay for it. Over the course of the year, we were delighted to be able to give away a total of 12,550 free items of food and drink. ## **Employability Work Placements** Throughout the year, the café was delighted to welcome a total of sixteen supported work placements for individuals seeking access to training and to experience in the workplace. Of those, four moved on into employment, having gained the confidence and skills from work experience at The Wild Olive Tree to enable them to do so. Page 1 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024** ## **ACHIEVEMENT AND PERFORMANCE** ## **Price Increases** Whilst the increase in trading numbers was welcome, nonetheless the challenges of the increased cost of living, reflected both in increased staff costs, as well as stock costs, meant that, in order to ensure continuing profitability, a modest price increase was required, which the Trustees approved and which took effect in May 2024. There was no discernible negative impact of these price increases in terms of trading figures, with a positive increase in income overall leading to a more balanced financial picture over the course of the year. ## **FINANCIAL REVIEW** ## **Financial position** Our only source of funding is food purchased by our customers. The price increases which had been agreed in the previous trading year continued to increase the overall profitability of the café and this, combined with the significant upsurge in trading levels, have placed the café on a significantly more secure financial footing. An increase in staff costs arose from the annual wage increase in April of 10.9% 2024, in line with the guidance set out by the Living Wage Foundation. (The Wild Olive Tree became an accredited Living Wage Employer by the Living Wage Foundation in September of 2018, having already been following the wage increases set out by the LWF for several years.) The overall financial position at the end of July 2023 was one of significant recovery from the worst effects of the global pandemic. It is to be hoped that this trend of recovery and growth will continue, and steps continue to be taken to maximise the potential of the café as a robust and effective social enterprise. ## **Reserves policy** The Trustees' policy is to have a minimum of £15,000 in reserve to cover running costs for one month should the café be forced to cease trading. This is based on a monthly budget of £11,500, which breaks down as follows: £5,000 for staff costs, £3,500 for rent and £3,000 for stock, together with an extra £3,500 towards unforeseen expenditure. In the course of 2023-24, we were able to continue the process of re-instating the reserves fund, following its complete depletion during the Covid-19 pandemic. Over the course of the financial year, £1,500 was allocated to this fund, a 76% restoration of the £15,000 ambition for this fund. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is a Scottish Charitable Incorporated Organisation (SCIO) which was registered on 9 July 2015. When it was initially created it had a single tier structure and constitution, with the Trustees as the sole members of the charity. In the course of 2017-18 the Trustees moved to a two-tier governance structure in order to safeguard the interests of St George's Tron as a place of Christian worship, ministry and mission, given the prominent place which the Wild Olive Tree occupies within the sanctuary space. Having adopted this structure, election of the Trustees has now become the responsibility of the membership of St George's Tron Church of Scotland. This change in governance required an amendment to the charitable aims of the Wild Olive Tree, in order to bring these into line with those of St George's Tron Church of Scotland, the wording of which was presented to and accepted by OSCR as follows: "To advance religion by promoting, contributing to and supporting the charitable objectives of St George's Tron Church of Scotland (registered charity in Scotland SC004931) as a place of Christian worship, fellowship, instruction, mission and service". The change to the constitution took effect on 17 September 2017. Page 2 THE MqLD OLIVE TREE (A SCo￿[sH CHARITABLE I￿CoRPORATED ORGANISATION) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 STRECTLTRE. GOVEBNAP*CE AND MAliAGEMENT Reciwlttnent Appolniment ofmew iru$tee$ Trustees are elected at the Amiual Geiieral Meeiing. There must be a Ininunum of three and a maxiinum of six Trnstee¥ 'ith a quonu)i of four Thr¢¢ are ¢l¢¢l¢d dir¢¢tly from the m¢mb¢rslu'p of Tli¢ Wild Olive Tree Cafe and these three in n ¢(wl a¢id apwkint the 3dditioiial rl)r¢¢ TtiJst¢es. M¢Iiibersliip of tli¢ ¢af¢ is op¢ii to m¢tnb¢rs of St G¢or8¢'s Tron ¢hur¢h. There ￿'ere tto chan8es to TnLStees in the year 2023-24. REFERENCE ANJ D ADMtNISTRATIVE DETAILS Reglstèi'ed Ch*ilty Dllmbèr SC045792 Prln¢Apal address St George's Troll Church of Scotland 163 BllC1￿ Street Glassow Gl 2JX Azeis Au It SeTh-Ices Clwtrered Accoulltallt Titallium I Killg's Inch Place Rellfre Glasgow PA4 8WF Appmval by order of the board of tsustees 2814125 alld sigtled oll its behalf by.. Page 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILD OLIVE TREE** I report on the accounts for the year ended 31 July 2024 set out on pages five to fourteen. ## **Respective responsibilities of trustees and examiner** The charity's trustees 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 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 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 the independent examiner's report** My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention : - (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and - to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Azets Audit Services Chartered Accountant Titanium 1 King's Inch Place Renfrew Glasgow PA4 8WF Date: 28/4/25 Page 4 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
-
**Charitable activities**
4
Charitable activities
305,283
Investment income
3
157
**Total**
305,440
**EXPENDITURE ON**
**Charitable activities**
5
Charitable activities
304,251
Other
2,984
**Total**
307,235
**NET INCOME/(EXPENDITURE)**
(1,795)
**RECONCILIATION OF FUNDS**
Total funds brought forward
13,933
**TOTAL FUNDS CARRIED FORWARD**
12,138|Restricted
funds
£
28,063
-
-
28,063
28,063
-
28,063
-
-
-|2024
Total
funds
£
28,063
305,283
157
333,503
332,314
2,984
335,298
(1,795)
13,933
12,138|2023
Total
funds
£
25,968
245,758
28
271,754
251,665
2,758
254,423
17,331
(3,398)
13,933| |---|---|---|---| The notes form part of these financial statements Page 5 THE MqLD OLIVE TREE (A SCo￿[sH CHARITABLE I￿CoRPORATED ORGANISATION) BALANCE SHEET 31 JLIY 2024 2024 Total fijnds 2023 Total fi￿d$ Unrestricted filnd Restri¢ied Notes FLXED ASSETS Tajigible assets 5,192 5,192 656 CURRENf ASSETS Stocks Cash 3t b￿]k 12 3,500 30,629 3,500 30,629 3.615 32,119 34.129 34,129 35.734 CREDTTORS Amoullts fallin8 thie within one year 13 (27,183) (27,183) (22.457) NET CURRENT ASSETS 6.946 6.946 13.277 TOTAL ASSETS LESS CURREN[ LL4BILITIES 12,138 12,138 13,933 NET ASSETS 12,138 12,138 13.933 FLTNDS Untestricted fullds 14 12.138 13.933 TOTAL FUNDS 12,138 13.933 The flllallcial stateD]ents were approved by the Board of Trnstees alld authorised for issue oll 2814125 alld were signed oll 115 behalf by.. The notes fomh part ofthese kncial 5tstements Page 6 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. There were no significant areas of adjustment and with respect to the next reporting period, no significant areas of uncertainty. ## **Critical accounting judgements and key sources of estimation uncertainty** In preparing these financial statements, the trustees have made the following judgements: Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. Assets are considered for indications of impairment. If required an impairment reviewed will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Bad debts are provided for where objective evidence of the need for a provision exists. Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Kitchen equipment - 33% on cost Fixtures and fittings - 25% on cost continued... Page 7 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Tangible fixed assets** Computer equipment - 25% on cost ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Financial instruments** ## Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted a ta a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial assets and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in it entirety to an unrelated third party. ## Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. ## Basic financial liabilities Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. continued... Page 8 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024** |**2.**
**DONATIONS AND LEGACIES**
Gift aid
Donations
**3.**
**INVESTMENT INCOME**
Interest received
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Cafe income
Charitable activities
**5.**
**CHARITABLE ACTIVITIES COSTS**
Charitable activities
**6.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Food and drink costs
Rent and management fees
Postage, stationery and advertising
Cleaning
Bank charges
Telephone
Other costs
Equipment maintenance
Donations
Subscriptions
Utilities|2024
2023
£
£
-
8,083
28,063
17,885
28,063
25,968
2024
2023
£
£
157
28
2024
2023
£
£
305,283
245,758
Direct
Costs (see
note 6)
£
332,314
2024
2023
£
£
195,914
141,166
90,559
72,983
23,891
24,000
1,175
737
3,633
2,322
4,308
3,136
320
312
2,298
5,009
1,094
-
5,000
2,000
1,243
-
2,879
-
332,314
251,665| |---|---| continued... Page 9 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024** ## **7. SUPPORT COSTS** |Other resources expended|Governance
Other
costs
Totals
£
£
£
534
2,450
2,984| |---|---| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023. ## **9. STAFF COSTS** ## **10.** |Wages and salaries
The trustees are considered to be the charity's key management personnel.
The average monthly number of employees during the year was as follows:
Cafe staff and management
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
8,083
**Charitable activities**
Charitable activities
245,758
Investment income
28
**Total**
253,869
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
233,780
Other
2,758
**Total**
236,538||2024
£
195,914
195,914
2024
22
Restricted
funds
£
17,885
-
-
17,885
17,885
-
17,885||2023
£
141,166
141,166
2023
17
Total
funds
£
25,968
245,758
28
271,754
251,665
2,758
254,423| |---|---|---|---|---| |||||| |||||| continued... Page 10 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024** |**10.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
fund
funds
£
£
**NET INCOME**
17,331
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
(3,398)
-
**TOTAL FUNDS CARRIED FORWARD**
13,933
-
**11.**
**TANGIBLE FIXED ASSETS**
Fixtures
Kitchen
and
Computer
equipment
fittings
equipment
£
£
£
**COST**
At 1 August 2023
3,228
2,500
1,602
Additions
835
2,706
1,529
At 31 July 2024
4,063
5,206
3,131
**DEPRECIATION**
At 1 August 2023
3,228
2,500
946
Charge for year
-
282
252
At 31 July 2024
3,228
2,782
1,198
**NET BOOK VALUE**
At 31 July 2024
835
2,424
1,933
At 31 July 2023
-
-
656
**12.**
**STOCKS**
2024
£
Cafe stock
3,500|Total
funds
£
17,331
(3,398)
13,933
Totals
£
7,330
5,070
12,400
6,674
534
7,208
5,192
656
2023
£
3,615| |---|---| continued... Page 11 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024** ## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Social security and other taxes
Accrued expenses|2024
£
15,817
11,366
27,183|2023
£
11,849
10,608| |---|---|---| |||22,457| ## **14. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Gift fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/8/23
£
13,933
13,933
Incoming
resources
£
305,440
28,063
333,503
At 1/8/22
£
(3,398)
(3,398)|Net
movement
At
in funds
31/7/24
£
£
(1,795)
12,138
(1,795)
12,138
Resources
Movement
expended
in funds
£
£
(307,235)
(1,795)
(28,063)
-
(335,298)
(1,795)
Net
movement
At
in funds
31/7/23
£
£
17,331
13,933
17,331
13,933| |---|---|---| continued... Page 12 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024** ## **14. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Gift fund
**TOTAL FUNDS**|Incoming
resources
£
253,869
17,885
271,754|Resources
Movement
expended
in funds
£
£
(236,538)
17,331
(17,885)
-
(254,423)
17,331| |---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1/8/22|in funds|31/7/24| ||£|£|£| |**Unrestricted funds**|||| |General fund|(3,398)|15,536|12,138| |**TOTAL FUNDS**|(3,398)|15,536|12,138| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Gift fund
**TOTAL FUNDS**|Incoming
resources
£
559,309
45,948
605,257|Resources
Movement
expended
in funds
£
£
(543,773)
15,536
(45,948)
-
(589,721)
15,536| |---|---|---| ## Restricted funds The Gift Fund represents amounts received by the charity to provide soup or coffee to people who are unable to pay for them less related expenditure. It is clearly explained to our customers that all donations received are used to fund the free distribution of food in this way without exception. It is consistently the case that that whilst customer donations are generous, they do not fully or entirely offset the expenses associated with this scheme and there is therefore never a surplus of funds from the pool of donations. Should this be the case however, it is the declared policy of the Trustees that any such donations would be carried forward from year to year as restricted funds to be used solely for the purpose described above. continued... Page 13 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024** ## **15. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 July 2024. Page 14 ## **THE WILD OLIVE TREE (A SCOTTISH CHARITABLE INCORPORATED ORGANISATION)** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gift aid
Donations
**Investment income**
Interest received
**Charitable activities**
Cafe income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Salary, NI and pension costs
Food and drink costs
Rent and management fees
Postage, stationery and advertising
Cleaning
Bank charges
Telephone
Other costs
Equipment maintenance
Donations
Subscriptions
Utilities
**Support costs**
**Other**
Fixtures and fittings
**Governance costs**
Accountancy fees
Total resources expended
**Net (expenditure)/income**|2024
£
-
28,063
28,063
157
305,283
333,503
195,914
90,559
23,891
1,175
3,633
4,308
320
2,298
1,094
5,000
1,243
2,879
332,314
534
2,450
335,298
(1,795)|2023
£
8,083
17,885
25,968
28
245,758
271,754
141,166
72,983
24,000
737
2,322
3,136
312
5,009
-
2,000
-
-
251,665
583
2,175
254,423
17,331| |---|---|---| This page does not form part of the statutory financial statements Page 15