THE INSTITUTE OF CREATION
Annual Report & Financial Statements
For the year ended
31st August 2025
FOR THE YEAR ENDED 31[ST] AUGUST 2025
ANNUAL REPORT & FINANCIAL STATEMENTS
CONTENTS
| Trustees’ Annual Report .............................................................................................................. | 3 - 5 |
|---|---|
| Independent Examiner’s Report .................................................................................................. | 6 |
| Statement of Receipts & Payments ............................................................................................. | 7 |
| Statement of Balances................................................................................................................. | 8 |
| Notes to the Financial Statements ............................................................................................... | 9 - 10 |
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TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31[ST] AUGUST 2025
The trustees are pleased to present their report and financial statements together with the independent examiner’s report for the year ended 31[st] August 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Name The Institute of Creation Charity Number SC045865 Principal Address Flat 3/2 162 Main Street Glasgow G73 2HW Website Address www.theinstituteofcreation.org Current Trustees Christine McGrory Fiona Jamieson Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Independent Examiner Gillian Cameron, ACIE 46 PennyFern Road Greenock PA16 9HD
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TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31[ST] AUGUST 2025
STRUCTURE GOVERNANCE AND MANAGEMENT
Governing Document
The Institute of Creation is a Scottish Charitable Incorporated Organisation (SCIO) with the charity number, SC045865. It received its charitable status on the 3[rd] August 2015, and it is governed by its constitution.
Appointment of Trustees
The Charity Trustees, who are also the organisation’s only members are also known as the Board of Trustees.
The Charity Trustees are recruited at the Annual General Meeting (AGM) and any other vacancies can be filled by appointment. At each AGM, all the Charity Trustees must retire from office, but may be re-elected. There is no limitation on the number of terms served.
The Charity Trustees meet quarterly and under the constitution, there must be a minimum of 3 trustees and a maximum of 6 and they must be over 16 years old.
Organisational Structure
The Charity Trustees are responsible setting the strategy and policies of the organisation and are accountable for the organisation’s day to day management.
OBJECTS & ACTIVITIES
Charitable Purposes
The Institute of Creation was established with the following Charitable Purposes:
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The advancement of education.
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The advancement of health.
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The advancement of citizenship or community development.
Activities
The Institute of Creation (IOC) teaches the Key Programme with the aim to create a sense of belonging and to empower people with the resources that will allow them to live an abundant, happy, healthy, purposeful, and fulfilled life.
ACHIEVEMENTS & PERFORMANCE
It was decided not to immediately replace Anne Mcintosh after her resignation due to lack of Charity activity.
The remaining Charity Trustees then made the difficult decision to dissolve the charity and will begin this process by asking the Office of the Scottish Charity Regulator for consent.
FINANCIAL REVIEW
Overview
We received income of £8 (2024: £9) in the form of interest from the bank.
Expenditure totalling £546 (2024: £499) were made with the main expenditure related to expenses incurred carrying out the charitable activities. At the end of financial period, the charity had a deficit of £538.
Donated Facilities & Services
The Charity Trustees would like to thank the service provided by all the charity’s volunteers, who have helped contribute towards the success and achievements made within this past year.
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TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31[ST] AUGUST 2025
Reserves Policy
The charity’s reserves at the end of the financial year were £891.
FUTURE PLANS
The Charity Trustees have made the decision to dissolve the charity and will contact the Scottish Charity Regulator for consent. Once this has been received, they will then begin the process of winding up the charity and donating their remaining assets to charities of a similar purpose.
APPROVAL
This report was approved by the trustees on 4[th] May 2026 and signed on their behalf by:
Christine McGrory Charity Trustee
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INDEPENDENT EXAMINER’S REPORT
FOR THE YEAR ENDED 31[ST] AUGUST 2025
Independent Examiner's Report to the Trustees of The Institute of Creation
I report on the accounts of the charity for the year ended 31[st] August 2025, which are set out on pages 7 to 10.
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 ("the 2005 Act") and the Charities Accounts (Scotland) Regulations 2006 (as amended) ("the 2006 Regulations"). The trustees consider that the audit requirement of Regulation (10)(1)(d) of the 2006 Regulations does not apply. It is my responsibility to examine the accounts under section (44)(1)(c) of the 2005 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 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 do not express an audit opinion on the view given by the accounts.
Independent Examiner's Statement
In connection with my examination, no matter came to my attention:-
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which gives me reasonable cause to believe that in any material respect, the requirements
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to keep accounting records in accordance with section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gillian Cameron, ACIE
46 Pennyfern Road Greenock PA16 9HD 5th May 2026
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STATEMENT OF RECEIPTS & PAYMENTS
FOR THE YEAR ENDED 31[ST] AUGUST 2025
| Receipts Bank Interest Payments Charitable Activities Governance Costs Independent Examination Net movement in funds Transfers between funds Surplus/(Deficit) for year |
Note | Unrestricted Restricted Total Total Funds Funds 2025 2024 |
|---|---|---|
| 5 6 |
£ £ £ £ 8 - 8 9 |
|
| 8 - 8 9 |
||
| 346 - 346 299 - - - - 200 - 200 200 |
||
| 546 - 546 499 |
||
| (538) - (538) (490) - - - - |
||
| (538) - (538) (490) |
The Notes on pages 9 to 10 form an integral part of these accounts.
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STATEMENT OF BALANCES
AS AT 31[ST] AUGUST 2025
| Funds Reconciliation Balance as at 01 September 2024 Surplus/(Deficit) for year Balance as at 31 August 2025 Bank & Cash Balances Cash at Bank Liabilities Independent Examination |
Note | Unrestricted Restricted Total Total Funds Funds 2025 2024 |
|---|---|---|
| £ £ £ £ 1,529 2,470 3,999 4,489 (538) - (538) (490) |
||
| 991 2,470 3,461 3,999 |
||
| 991 2,470 3,461 3,999 |
||
| 991 2,470 3,461 3,999 |
||
| 100 - 100 200 |
||
| 100 - 100 200 |
The Notes on pages 9 to 10 form an integral part of these accounts.
These accounts were approved by the trustees on 4[th] May 2026 and signed on their behalf by:
Christine McGrory Charity Trustee
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] AUGUST 2025
1. Basis of Preparation
These accounts have been prepared on the receipts & payments basis in accordance with:
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(a) The Charities and Trustee Investment (Scotland) Act 2005
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(b) The Charities Accounts (Scotland) Regulations 2006 (as amended)
There have been no changes to the basis of preparation or to the previous year’s accounts.
2. Fund Accounting
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(a) Unrestricted funds are those that can be expended at the discretion of the trustees in the furtherance of the objects of the charity.
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(b) Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, or when funds are raised for specific purposes.
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(c) The purposes of the funds are shown in Note 7.
3. Taxation
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(a) The charity is not liable to income tax or capital gains tax on its charitable activities.
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(b) The charity is not registered for VAT, thus all costs are shown inclusive of VAT charged.
4. Transactions with trustees and related parties
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(a) No remuneration was paid to trustees or any persons connected with them during the year (2024: £Nil).
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(b) No expenses were reimbursed to the trustees during the year (2024: £Nil).
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(c) The charity's insurance policy includes trustee indemnity insurance cover for all of its trustees.
5. Payments relating to Charitable Activities
| Administration Bank Charges |
Unrestricted Restricted Total Total Funds Funds 2025 2024 |
|---|---|
| £ £ £ £ 284 - 284 238 62 - 62 61 |
|
| 346 - 346 299 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2025
6. Movements in Funds
| Unrestricted Funds General Fund Restricted Funds St James Place Charitable Foundation Total Funds |
As at As at 31/08/2024 Receipts Payments Transfers31/08/2025 |
|---|---|
| £ £ £ £ £ 1,529 8 (546) - 991 |
|
| 2,470 - - - 2,470 |
|
| 3,999 8 (546) - 3,461 |
7. Purpose of Funds
St James Place Charitable Foundation
Restricted funding that will be expended in the next financial year, for supporting young people from challenging backgrounds within the education sector.
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