REGWERED CHARITY NUMBKR.. SCIM6690 rtof ¢ Trustees and UD4ud ments for the Yr Ended 3 or ht Rci&Tlrtto ChaTits dgtio TBDunn&Co fjround Floor (part) 80LK) Acalemy Busin*s Park 51 Gower Stre¢r GLASGOW 051 IFR
The Ret&TI Chaplt8 d&tio ttthts ofthe FiDa t Year End ¢l*l Ststerntnts 2024 P2g¢ Report of the Trustees Ito3 Indepdent ExarniDetr5 Report Sta¢emtrLT of FitWJCi21 Activities Baltn¢e Sheet Notes to the FitWJGial Stst¢ments 7t0 10
eRel Cburltsble Fo dation ort of the Tntstets e Year Ended The trusteespre5¢nt their rcport aIon8 with the financial artangementsforthByear ended 31 July 2024. Cowtlthtio The Charity is a Scotti$h Charitable Incorporated Or8ani5ation eSCIO'). It wlls regi5ttted itt its currertt lega] fotm on 7 July 2016. This SCIO is asingle tserstru¢tute tnd as suth the tntstees art nembets of the charity. Appolntmettt of trts$tees Th¢ charity's I[teeS can 0Y be kn51ees if they Ire fill mejnbers ofthe SCIO. The mininum rtUber of Charity thlstees is thre¢ and Shall in¢lud¢ the Chnall of the SCIO. The appointent of new tn¥tse5 is r¢served to the tru5te¢s its office. New Irust¢e5 are provided with opportunitiesto rtteivc trgining in r¢J8tionto their duli¢s and responslbilitiesas djarity Iwstee Objectlvcs and attiviti¢s The deed of trust provides for wi<k.reathing chatttable objects, affording the charity tru51ees the power and flexibility to apply the income and capital of the trust fund, by Erants, for the ben¢fit of charitsble obje¢ts and pwposes, in any part of the world. Grants are award¢d 10 charitable orgmisttiODS in accordance with theprinciples set out below. The trnsi's primary forus is on... -The advancement of health,. - The t¢lief of those in need byr¢ason of oge. di&ibiliry. fill¢1?1 hardship or other dI3Edv8n8e. AthlEvements and perform8Dtt This is th¢ seventh period of attivity of The Reid-Timoney Charitable FoundaiiDn. During the yw, the Foundation's foGu5 W35 priarilY on prOvidu financial supportthrouÈh grantgiving lo idetttifjed ¢ausB5 in line with th¢ Foundation'sprinciples and obje¢uvc5. Th¢ Tnjstecs roThlinue to revi¢w alld assess addithonal cau5CS tbat rnay benefit from the Foundation'5 futsJrB fin8n¢ial SUPPWL Fln#uciaI reviEW The fitwi¢l 5taiem¢nts for the year are s¢t out in pages 5 tt) 10. The statement of fitcial a¢tivitie5 on page 5 r¢flts income for the ye4r of £39.156 (2023.. ttct expenditure of £94,926). The n¢t income for the y¢ar is mwnly due to inttr&%t rrfeivable on a loan mad¢ to a rclated pm. The charity remains in a strong fuJ3n¢ial p051tiotL Key manag¢ellt p¢rsoDnel The trnees ¢ompJise th¢key mHna8ementperstrnneJ of theentity. Nv InJ&ees received remun¢r&ion duringthe period. Reserves poll It is thc policy of the ttust lo maintain unrestricted reserve5 at a level suffi¢ienl to ¢oveT donations and general running costs. Rcserv&% a5 at 31 July 2024 included cHsh of £1.810.223. IoAn interest re¢etvable of £.934 and bank int1 receivable of £4.927. Page I
bl Follnd Dytof the Truste rgr the Yexr ded 31 Jul 21ll4 Plans for flltur¢ petiod Th¢ Gharity se¢ks to produrc the Ex5t financial rcuTh an acceptable Itv¢l of risk 3rd continu¢$ to adopt an investrnejtt objettive 10 gtherttE ac(wable réttm on these invcstmcnls Trver the medium to long term. after penSe& The MeiT£ of infl3140n most relevant to the charity's ¢xpthdilure is the IJK consumer pri$ ind¢x. This Inveslment objective should 4Uow th¢ Gh4rity to mainthn ovu the rnedium kn long tBrtD Ebe re&1 vut of the m, Pdhiltt fjmding tk destred level of annual expBndirure. TheTru¢¢sOslthrthalthere are DO rnal¥ial unce]tsnd£5 3bolltthe SCIO'S abijiwto conunue28 a goiDg conc REFEMENcXAM)ADq1TRATrywTAr RgkterÈd Ctsylty Nuthbtr SCO4661 Bathk¢r5 Royal Bènk of Scotlartd PIC 36 5t Andrews Square Edillburgh EH2 2YB IDdepelld¢nt ex#iDer TBDUr&Co Ground Floor{rwrtl 8000 Academy Busine¥ Park 51 Oower Street Gla4ow G51 IPK P4¢2
The RtlO-Tlmo Ch2rltsbh Fo orto th¢Tr e¢s tar E ded 31 Jul 2024 Tryrtet8' rp•sIbIlitIeS In relatlon tts th¢ t$¢al slat•Ments Thc chtty trustees 4re rc5ponsible for preparing a trustee's awjual r¢prt and fJnan¢iD] 51altments in ac¢ordan(% with ?ppli¢able14w and United KiD8dom AoUnti8 St4ndard5 (United Klng¢Jom Gen¢r&lly Accepted Ac¢Duntin8 Prictietl The law applicabl¢ to charitie5 in Scotlend requires Ihe Gha¥ily Iru5tees to prepare fiJLanrial statements foi ea£hyear which give a tru¢ and fr vieiv of thc state of of the ¢haTity and of the Inming resotsrces and application of tawuw, of the charily for thatperiod. In prepatitig th¢ fmanclal sratnen4 the tru51ees required th.. SelBCt witsble &¢¢Dunting polide5 gad appty them consthndy- Observe the rnethodsand prCIpleS in thc appliuble Ctwiii¢s SORP. Make judgemthts and &ttimatesthaf are reasothAble and prudtnl State whcther8ppIiLzblea¢cLxJnting Stslldardshave becnfouowed, wbjECtto anymateTiai departswe5dy5alose41 and explained in the financial statErnBnl¥,' Prepare the financid staternents on the going concem 10 unless It is jriw)prorria to PTWUm¢ Ibe cbyriw ryll ¢ontinue in business. The Ie¢s are responsible foi kEeping ptoper a¢courttinK r¢¢ords that dlxlose with reOable accuracy at atsy ti¥n¢ th¢ fiJ)en¢ial wition of th¢ Clwity and ro enable thn to the fuj81 Stslenents ¢o]nply wtth the Charities and Trute InveSDnem {Scod&ndl Act 2005. Ihe Charity Acwunis (Scollandl Regulations 2006 las zmtndedl. Thry Hr¢ UL restx>nsible for safr8uatdiD4 th¢ ¢1$ of the GhllTSty taknng rwonthle steps for the rrtewtion and delt¢ion of fraud and other rygularitio. Approved by the tru$itts ¢)n 25 April 2tr25 and SIS on th¢ir behalf by.. 2S Awil 2W25 Page 3
¢Ddenl Examiner'5 Rt The Rel ri Ort to the TTU5tee5 or V¥ulld¥t I OD the acco15 for th¢y¥4r ¢nd¢d 31 July2024 wt out Oll PAECS fiveto M. Respective respo15b]ll¢j of trwtees ¢xJJnin¢r Th¢ charitys ttU5tee$ are res[51bIe for tht preparation of the ac¢ovtsts in acco8¢t with the terns of iht Chuities and Trustee Invtskn¢nt{SrotlJdl Act20Q5 thE ChuitiesAccounts IScoll8ndl RegulRtions 2006 (ts zmendedl. The charity's tru5Ece5 consid¢r that Ihe audit requirement of Re8lllation lQll} la) to Icl of the 2006 Regulations docs not apply. IL is trny Te5PDnsibility to ¢Xnin Ihc atcounts a5 rtqutr¢d undrr s10 44(Illcl of th¢ AU and to sratE wbdhu particular Jnatteis hawe come to My itt¢nlion. Bsis rthe independeAt emItter.$ report My cxaminstion carried out in accordance withR¢8ulauon I l ofihe Charities Accounts{S¢o¢thndl Regulations 2006{&% 2mendedl. An exlation inGludes areview of the &Gcounting records kept by the chatity Dnd a ¢o[npwin ofihB aCc(nts pr¢5¢nted wilh those [ordS. It 1150 includes Consideration of any unu5u&I items or diKlosures in th¢ accoutst8 seekiDg explaDations frotD you as trtSStees CODcernin8 any rnattrcrs. The procedures undert8kBn do not provide all th¢ ¢vidte that would bc required in an audiL and cotL5qu¢ndy I do notexpre an audit opiniorL the view Wvett by the&cOnI& Judendent examlneV$ stafrmtnt ]nthe cour5¢ of my ex0MLti no matterhcome tty Tny attention: whith g[V mc r¢osonablc cuu3E to believ¢thaL D) any Materi rw¢¢t, the ieouirethents tokeep a¢¢ouDtg ordS in •ccord8tttewith SeGtion44(IXal of the2005 Aci aTra Regulation4ofth¢2006 Accounts Re8ulwion$; ad ro weptre accounts which &ccord with tlle accouniing reLords and tv Cop]Y with Re8ulation S olthe 2006 ounts Regu18ti0Tr5 have llol bEen met.. or 121 to whltkn. h] my optnior4 atythiiDD should be drawn itt order to 8 PTOW undBE5tuTrJing of the to E¢ r¢xh¢d. LLA TBDunn&Co Grrtund FTroor Ipthl 8000 Academy Busine&8 Park 51 Gower Strea GLASGOW G51 IPR 25 April 2025
rid-TimorLe aritablt Ftrullda sts fort entof Finan¢tal Activltlts YearEnded 31 Jul 2 24 Expendable endOwent fid$ Expend8ble endowm¢nt fd5 Totsi 2024 Note5 Inc•me From.. Invesitnents Int¢restreceivable on Ivan 2023 20209 23,934 20,209 23.934 7.855 7.855 Totsl 44,143 7,855 7,855 pendtthrt On: Char&l8ble a¢tivili¢5 Inv&stmenl MatgeMent wsts Bank tharge5 Governance ¢osts 12 3.727 120,706 16,649 loo 1.020 120.7 16.649 13 1260 1,260 1.020 Totsl 4.987 4,987 138,475 138.475 14 35.694 35.694 Net Mov¢ttLtJkt in Ftsnd$ 39.156 39.156 194.9261 194.9261 Recollci]iattoll of Funds Totsl Funds Brought Forward 1,798,788 1.798,788 I.5,714 1,893.714 Total Funds Carried Forward 1,837,944 1.837,944 1,798.788 1.798,788 The statEmeni of fjnanciai a1vitiES include5 8Jl E&U)sand1055 re£ogniwJ ill the yqar. All iD¢otDC Hnd expajditure detiv¥ from eorttinuing tiVItie& The note5 ¢m pages 7 to 10 forni part of thcsc finaDGial 5katements
Tht Rel&Tlmo ari bl¢ FoundwllL At3LJul 2 p¢ndablr Expendable doMryn¢ni funds Tol•l 2024 Notes 2023 Fiyed 15sets Invtstsn¢nts 14 Curront x$$Èts Debtor$ Cfish at B9nk Hattd 28.861 28.861 1.60ts.OOQ l.600.OaQ 42 Credit•TS: Amtrunt$ Fallittgdue within l yeAr 16 N¢t¢wr¢nias9ets 1,837,944 1,837,944 1.798,788 1.798.788 TLthI Assets IE&%CUTrettt liEbiliM¢5 1,837.944 1.837,944 1,798,788 1.798.788 Net xEets 1,837.944 1,837,944 1.79&788 1.798.788 Fund$ iieskn¢tèA ExpeDdable eJJdowme4rt Iljnd 798 788 798 Totil fllnds 17 The fiT¢ancial startsnents wertappTovcd and duthorised for i5sh by the Board of Trus1¢¢5 25 April 2025 and were signed ox iro behTf bv". The n05 on pAgrs 7 to 10 fc*m of these fJn•n¢i4E 5la¢EmEllts Page 6
-Tirnone ritsble F datioll ote5 to tTrLe or the Ye 5ngncial Sts¢Tnent cd 31 Jul 21124 Basi5 of prepzrdtion The financial sratements of the ¢h8rity, which is a publi¢ benefit entity underFRS 102. havebeen prepared Tn accordance with ihe Charities SOKP (FRS 1021 'Accounith¥ and Reporting by Chatilies.. Statement of Recommended Praui¢¢ applicabl¢ 10 d]aTities preparing th¢ir accounts in accordate with the Fin9nci RBporling Siartdard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 2019)., and the Financial keporting Standard 102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ire]end'. the Ch3rities and Tru5t¢¢ Invesknent IScot13ndl Act 2005 8nd the chItIeS Accollnis {Stotland) liegulations 2006 las amended). The financial statements have bEen prepared under the historical c05r convention. Financial reporting Stsndard 102- reduced disclosure exemptioL The charitablecompany httstaken advantageofthcfollowing disclosureex¢mprionsinprepariM8thE5Bfinan£i4ithen as permilled by FRS 102 The FI[wla] ReporEillg Stsndard applicable in the UK and R¢publi¢ of Ire18nd': Therequir¢ments of Se¢tton 7 Stat¢ment of Cash Flows. No matcrs&1 wioryearerrors hsve bEen Idtified in the reporting period. The presentation Gurren¢y of th¢ financial statements the Pottnd Sterling (£). GoiuE Conce The trustees consider thatthere are no material UTrCWThDJlies abouithe SCIO'54biliry to ¢()nte as agoittg conc¢rn. R¢eoEnitiorL of thcome Income is included itl the Staiemettt of Financial Activities once the SCIO bas entidemem to fthid¥, it is probable that the ulcome will be receivedand the account Gan b¢ measuredre]iably. lJKome accounted for on an accruals b45iS. Natsre purpose of All fund5 ¢umdy held by the Charity are deerned to be expendabl¢ thdowrn¢nl fvDds. fvnds may b2 wed at the discretion of the trustees to furtherthe objectives of the Charity. Grants dollatto Grantsand dotMtiOD5 Bre ottly included its thestatementof Finalai Activiti¢5when incomeTwnition ¢rit*ia aT¢meL ExpeDdlthr¢ Liabilitie5 are re¢ognised as expid}Lre as soon a5 there is a legal or¢onstructive obligation commiltinE thechHrity to that exp¢nditur4 itisprobable thatatt8feFotCc9n0miCbBnef1ts will be required insettlementandtheamounl of the obligation can b¢ measured reliably. Expenditure is accounted for on an ac¢rual$ basis and has been GJa53ified under hcadings that a88regate all cost related to the category. Where c2nnot be deCtlY atrributed to particular headings, they have be aIlo¢ated to activities on a b1$ ¢onsist¢trt with the use of resour¢¢s. Taiado The¢hl is exempt from cotporation tax VD Lts Ch1¢&bleacti¥lt1e The note5 on pages 7 to 10 forni part of these fLnanGial 5t8tenJents Pag¢ 7
The -Timoll Charit2 l Foulldatltsb Notts to the Fi n¢i*l Statemtnts for tILe Ye&r R dtd 31 Jul 2024 Crltltal Judg¢th¢tyts t5timates No %gnificantestunate5 a55umptions were made inPTepmg th¢ financi81 sratemejrt Liabilitie5 Lbillty re¢ogllltto LiabilitiC$orereGogDisedwh¢r¢ itis more iikejythan DQtthgtth¢re Ésalegal or¢onstructiveobligation ¢oJntDithngthe charity to pay out Te80tsT¢es and the amouni of the obligation Gan be measuKd with Twonable c2rt&inty. Bxpendiiure is accounted for on an a¢¢ruals basls. io. IDvestm¢Dts Investments are illitially measured at ¢ost and subsequently at fairvalue. The statejngnt of fInl a¢tivtti&s ]deS thenet goins and losses arising on reVaI110n 2nd disposals throughout the ye8r. Invtstmentillcom¢ EKpeMdible EDdowroent FuDds Total 2024 Total 2023 Divid¢nds and Interest 12. Grani makfiDE ExpEnd#ble ErLdowm¢ut Funds Totsl 2024 Total 2023 The advGeMent ofhealth During the year £3.727 WBS don8t¢d to Gla5goiv ChildM'sHospitsl charity. 13. Governance costs Expend2bl¢ Elldowm¢nt FndS Totsl 2024 Total 2023 Independ1¢Xamlller'S feE Thcnotes on pages7 10 10 form partof these flnanr1 51atenJettts
ritab datl otes t tbe Fi91a[ tar Ended 31 tstemen UI 2024 l& Flx¢d #sset i11vtents IYBS Eqtsiths & Bonds Carrying value at begillning of period Additions Disposal proceeds Net gain on di5POS 150 150 IS Debtors Duitng theyegr a loan of £l.600,OOOwas repaid by SARTlnvutDJetsts Limited. The loart interest teceivable of£23,934 Wdid on the24 Aptil 2025. Bank interest of £4,927 earned ill July 2024 was re¢eiv¢d post y¢.etsd in S¢pte]nber 2024. 16. Crtditors- Amoubts f¥JUthg du¢ wttbill one ytar Exptndllble Elldowment Fud TDtal Totsl 2023 Accruals 17. Alla115 of funds Iktwis of funds held and tDDvements drE Trent reporting period Fund Brou¥ht Forward Cgi115 Balallee CHrrled Fon¥ard kxpendStllre TraD5f¢rs L•55eS Expendablt EndowmetLt Fund5 Totaj Fund5 Detai15 of fijnds hc]d attd movements during previous rcportingperiod Fwid B#lance Brought Fonvard Galll$ Ba]anc¢ C#rried Fonvard Expenditsre TraLrfers Expendable EndowmeTht Funds Tot Funds Th¢ nortson paw7to 10 forjn port ofthe5e fitcial 5trtemertts
tid-Timone 'tsblt FoundA Not to th¢ Financizl forthe ded 31 Jul tnts 18. Trustets rèmuD¢ratloD and bcllefrfs Nontr of the tr5L#¢¢s have beth patd any Temurteration orr¢¢¢ived atty otber bEncfits from to etDpIDym¢nrwiib th¢SCIO or arelattd entity. Notru5tee ¢xpense5have beenin¢untd. The notes on py 7t0 10 fonn part of thesE finall¢1 smtetnents PagB 10