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ADAM FAMILY FOUNDATION
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ACCOUNTS
FOR 30 APRIL 2025
CHARITY NUMBER $C046468
RITSONS Chartered Accountants Elgin 103 High Street IV30 1EB
Adam Family Foundation Trustees’ Annual Report
Page 1
for the year ended 30 April 2025
Scottish Charity Number: SC046468
Current trustees
Charity's principal address
10 Southfield Drive, Elgin, 1V30 6GR
STRUCTURE, GOVERNANCE and MANAGEMENT
Constitution
The charity is a Scottish Charitable Incorporated Organisation and has been registered from 8 April 2016. The SCIO has a single tier structure and as such the trustees are the only members.
Recruitment and appointment of Trustees
Charity Trusteeship is open to any eligible person who subscribes to the purposes of the organisation and wishes to see them fulfilled. There must be a minimum of three and a maximum of ten trustees.
OBJECTIVES AND ACTIVITIES
Charitable purposes
The objects of the organisation are:
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initiate and/or support projects which make a sustainable positive difference to communities and/or individuals:
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provide direct support to charities, individuals and community facility projects;
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provide ongoing support to recipients and developing a recipient network:
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- work in areas such as disadvantaged or deprived families and individuals, homelessness and housing, education, elderly, sports, youth and children, the arts; and
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- work in partnership with other organisations to promote significant community projects.
The principal area within which the organisation will operate (the area of benefit) will be (i) Moray and the surrounding areas principally; and (ii) other areas within Scotland as required.
The organisation shall promote (but not promote exclusively) its activities and delivery operations to people within the "Area of Benefit" who are organisations and individuals involved in relieving poverty, advancing education, promoting citizenship and community development, and facilitating the arts and amateur sport. These people will be the organisation's beneficiaries.
Activities
The Foundation paid grants to organisations and individuals of varying amounts.
Adam Family Foundation Trustees’ Annual Report for the year ended 30 April 2025 (continued )
Page 2
ACHIEVEMENTS AND PERFORMANCE
Donations and grants totalling £24,645 were paid to individuals and organisations during the year. A further £1,250 was committed to be paid in the next or future years.
Donated facilities and services
The wages and travel expenses of the charity administrator were paid by a business interest of one of the trustees. The total costs were £1 5,108.
Financial review
The bank balance held at the period end of £34,293 represents funds not yet paid over to individuals or organisations. Additional multi-year awards of £1,250 had been committed to before the year end.
Reserves policy
The reserves held represent funds not yet awarded or paid out. Grants and donations can be awarded if the funds are available.
Adam Family Foundation Independent Examiner's Report to the Trustees
Page 3
to| report6. on the accounts of the charity for the year ended 30 April 2025 which are set out on pages 4
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 trustees consider that the audit requirement of Regulation 10(1) (d) 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 independent examiner's report
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 evidence that would be required in an audit, and consequently | do not 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 respect the requirements:
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to keep proper accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
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- to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations;
have not been met, or
- theto which,accountsin myt opinion, attention should be drawn in order to enable a Proper understanding of
itsons Chartered Accountants Independent Examiner 103 High Street Elgin IV30 IEB
Date:
NAL O4|25
Page 4
Adam Family Foundation Receipts and Payments Account for the year ended 30 April 2025
| Adam Family Foundation Receipts and Payments Account for thethe year endedended 30 April 2025 |
Page 4 | ||
|---|---|---|---|
| Receipts | Unrestricted 2025 £ |
Total 2025 £ |
2024 £ |
| Donations Giftaid receivedforcurrentyear |
20,000 5,000 |
20,000 5,000 |
50,000 12,787 |
| Total Receipts | 25,000 | 25,000 | 62,787 |
| Payments | |||
| Grantsanddonations Costs of charitable activities: |
24,645 | 24,645 | 89,948 |
| Bankcharges Governance costs: |
10 | 10 | 21 |
| Accountsandexamination | 917 | 917 | 877 |
| TotalPayments | 25,572 | 25,572 | 90,846 |
| (Deficit) / Surplus forthe period | (572) | (572) | (28,059) |
| e——— | ees |
Adam Family Foundation
Page 5
| Adam Family Foundation | Page 5 | |||
|---|---|---|---|---|
| Statement of Balances as at 30 April 2025 | ||||
| Unrestricted | Total | |||
| 2024 | 2024 | 2024 | ||
| Bank and cash in hand | £ | £ | £ | |
| Opening balance | 34,865 | 34,865 | 62,924 | |
| (Deficit) / Surplusfortheperiod | (572) (572) ee |
— | (28,059) | |
| Closingbalance | 34,293 —————— |
34,293 | 34,865 SS |
|
| Liabilities | ||||
| Donations and grantsawarded forfuture years |
1,250 | 1,250 | 20,394 |
Adam Family Foundation
Notes to the Accounts for the year ended 30 April 2025
Page 6
1 Basis of accounting
These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Act 2006 (as amended).
2 Nature and Purpose of funds
Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. The trustees maintain a single unrestricted fund for the day to day operation of the charity.
Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for Specific purposes. No restricted funds have been received.
3 Trustee remuneration and expenses None of the trustees were remunerated or were paid expenses during the period.
4 Donations received
The donation was received from one of the trustees.
5 Grants and donations paid
3)Theindividuals.grants and donations were paid to 5 (2024 - 14) organisations and to 2 (2024 -