THE ABC FOUNDATION
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31ST AUGUST 2024
The ABC Foundation Seaton Court Cottage, Gullane, EH31 2BD
Scottish Charity No. SC046803
THE ABC FOUNDATION
CONTENTS
| Trustees Report Independent Examiners’ Report Statement of Receipts and Payments Statement of Balances Notes to The Accounts |
Page 1 – 6 7 8 9 10 |
|---|---|
THE ABC FOUNDATION
1
TRUSTEES REPORT FOR THE YEAR ENDING 31[ST ] AUGUST 2024
The trustees are pleased to present their report together with the financial statements for the year ending 31[st ] August 2024.
REFERENCE AND ADMINISTRATION INFORMATION
CHARITY NAME
The ABC Foundation
TRUSTEES CHARITY NUMBER SC046803 HMRC CHARITY REFERENCE NO ST02032 PRINCIPAL ADDRESS The ABC Foundation Seton Court Cottage Whim Road Gullane EH31 2BD ACCOUNTANTS Ian J Brown and Company 4 Lothian Street DALKEITH Midlothian EH22 1DS BANKERS Barclays Bank PLC Leicester LE87 2BB STOCKBROKER Hargreaves Lansdown 1 College Square South Anchor Road Bristol BS1 5HL
THE ABC FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31[ST ] AUGUST 2024
2
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Charity is a Scottish Charitable Organisation (a SCIO). It was registered in its current legal form on 23[rd ] August 2016.
Appointment of trustees
Trustees are appointed in accordance with the constitution.
OBJECTIVES AND ACTIVITIES
Objectives
The ABC Foundation was set up by Jenny and Stefan Gries in August 2016.
It is registered as a grant giving charity focusing on the advancement of education, health and public participation in sport and the relief of those in need by reason of age, ill-health, disability, financial hardship, or another disadvantage.
More specifically, while the charity can support a wide range of causes, it’s primary focus will be to promote, advance and further its charitable purposes by extending assistance financially and otherwise to other charities, community groups and individuals with a focus on
-
the provision of education for children, young people and adults from low-income backgrounds,
-
the support of organizations which help children, young people and their families deal with a wide range of health-related issues and
-
provision of sport, leisure and well-being programs that work with children and young people from low socio-economic background.
The ABC Foundation will work closely with chosen beneficiaries to ensure continuous improvement of existing programs as well as successful program outcome.
We define success as having raised the quality of life, confidence, aspirations, and employability of the people that seek our support.
Our overall ambition is to create a fairer society in which people from all walks of life can maximize their potential.
Furthermore, we believe that investing in individuals and their families who are in need of support will ultimately help to strengthen local communities and improve social cohesion.
THE ABC FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31[ST ] AUGUST 2024
3
Principle Activities
The ABC Foundation was founded in August 2016. HMRC charitable status was obtained in November 2016. The charity was set up with a board of trustees consisting of four members.
The principal focus in year seven of the operation was continued fundraising to further build ABC’s asset base.
While the charity trustees are committed to distributing funds to provide financial support to carefully selected causes each year it is also our stated ambition to gather assets and build a significant charity endowment over time.
This strategy is followed in the pursuit of creating a long and successful legacy in promotion of our charitable purposes.
ACHIEVEMENTS AND PERFORMANCE
Achievements
During the first eight years of operation (Aug. 2016- Aug. 2024) The ABC Foundation focused on fundraising and building its asset base while also extending grants worth a total of £264,005.
In the financial year ending 31[st ] August 2024, ABC managed to grow its asset base again, which puts the organization on a strong financial foundation for continued future charitable giving.
This year also turned out to be another strong year in terms of total grants being extended with our charitable giving reaching £60,300.
Those donations were allocated to organizations operating in some of the most deprived areas of Scotland. Selected charitable causes included:
A) The Grab Trust - £2,000
The GRAB Trust works in Argyll & Bute aiming to encourage and support involvement and participation in reuse / environmental projects. Established in 1999, it has a long track record of community action with the aim towards mitigating the impact of climate change through practical measures that help people to make affordable and sustainable change. Its work focuses on community education, reuse and sharing resources to safeguard the natural environment, waste less and learn more.
B) Made in East Lothian - £2,000
Established in 2016, Made in East Lothian is a Community Interest Company based in Haddington. This organization supports the wider creative community in East Lothian, promoting creativity as a benefit to wellbeing, climate and community. It develops programs and one-off events to teach creative skills and encourage social interaction for all. Reuse and recycling are central to its mission, and form a link through all activities, including business operations.
THE ABC FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31[ST ] AUGUST 2024
4
C) Rock Trust - £5,000
Rock Trust are Scotland’s youth homelessness charity. It is their aim to end youth homelessness in Scotland by ensuring that every young person has access to expert youth specific services to assist them to avoid, survive and move on from homelessness. Rock Trust advises, educates and supports young people to enable them to build the personal skills and resources required to make a positive and healthy transition to adulthood.
D) Edinburgh Food Project - £5,000
Edinburgh Food Project (EFP) runs seven foodbanks across Edinburgh. These foodbanks provide people with emergency food provision that covers three square meals for three days. In addition to providing food to clients EFP also offers a range of support for people including housing and employment, as well as operating their own Money Advice Service.
E) Eat Up – Glasgow - £5,000
Founded in 2017, Eat Up Charity delivers its services by supplying food to numerous projects across Glasgow, Renfrewshire, and the North Lanarkshire community. Its main objective is to relieve poverty by providing food to people in need, thereby reducing food insecurity among the most financially deprived households.
F) East Lothian Foodbank - £5,000
East Lothian Foodbank is a local foodbank and part of a nationwide network of foodbanks working to combat poverty and hunger across the UK. It provides emergency food and support to local people who are experiencing financial hardship.
G) Hillhouse - £2,500
Based in East Ayrshire, Hillhouse (HH) operates in one of the most deprived regions in Scotland. This charity has been working with young people and families who are experiencing financial hardship for 41 years. A significant number of young people and families who come to seek HH’s support are faced with situations in their families and in their own lives which make them extremely vulnerable. This could be because of family breakdown, leaving care, a disability and / or mental ill health issues, redundancy or struggling daily to make ends meet. Examples of services provided by Hillhouse include placements offered to long-term unemployed to provide quality training to equip them with skills to re-enter the workforce as well as free provision of quality clothes to children and young people and baby starter packs to new mothers.
THE ABC FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31[ST ] AUGUST 2024
5
H) Home Link Family Support - £2,500
Home Link Family Support provides quality home visiting and group support to families with young children who are under stress or experiencing difficulties. This charity currently provides Family Support and Antenatal Support in Edinburgh. In Midlothian, it provides Family Support, Systemic Family Counselling service and specialized Young Parents Support. Home Link’s services support families to develop stable as well as more stimulating and caring home environments for children which allow for stronger social and cognitive development and give them a better start in life.
I) Muirhead Outreach Project - £2,500
The Muirhead Outreach Project (MOP) was set up in 2004 with the primary aim of supporting vulnerable children, young people and their families through difficult times with the aim of assisting them to remain at home, and to refer to other professional agencies when necessary. MOP is based in Glenrothes and offers help in some of the most deprived areas of Fife suffering extreme levels of poverty. MOP services include group work, 1-2-1 support advocacy, practical support for families and emotional support for children and families. Its tailor-made packages provide extensive support through a wide range of initiatives that allow families and children to develop skills and abilities to negotiate their own paths and achieve better outcomes.
J) Aberlour Children’s Charity - £2,500
Aberlour is known as Scotland’s children’s charity. Its vision is that every child in Scotland has the chance to flourish. It aims to reach more children and their families earlier, before damage is done, before families reach crisis point. Its wide-ranging services include among others ‘residential and fostering’ services offering a safe and loving place to live for children who have suffered abuse and trauma; ‘recovery’ to help families recover from drug and alcohol addiction so children can thrive; and an ‘urgent assistance fund’ providing cash grants to assist children, young people and their families who are suffering extreme hardship.
K) Money Advice Scotland - £2,500
Money Advice Scotland (MAS) is Scotland’s money charity. It exists to help people in debt, support money advisers, and influence policy. Its mission is to be the driving force towards financial wellbeing for the people of Scotland. MAS believes everyone in debt deserves to be treated fairly and offers a range of resources for people going through the debt advice process. It also provides training, events, and resources to the money advice sector more broadly. Lastly, MAS aims to influence policy and being a strong voice for consumers and people in debt in Scotland by identifying detriment and acting on it.
THE ABC FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31[ST ] AUGUST 2024
6
L) Penumbra Mental Health – £3,000
Penumbra Mental Health is a pioneering charity providing dedicated services for people with mild to serious and enduring mental ill health. Penumbra supports people on their journey to better mental health by working with each person to find their own way forward.
M) The Destiny Project - £2,500
The Destiny Project is a children’s mental health project providing support and advocacy for children and young people. It collaborates with other agencies and aims to provide the widest possible range of services, particularly for the most vulnerable members of society. Through it services it aims to have a direct impact on poverty, youth related crime, academic attainment, and most importantly, health.
N) Roseberry Centre - £2,500
The Roseberry Centre (RC) provides day care facilities for people suffering from dementia. The Centre provides social interaction within a stimulating and safe environment. Starting in 1985, it has a wide catchment area, including Livingston, The Calders, Broxburn, Uphall, Pumpherston. People living with dementia are referred to day care and other forms of support. RC also offers a Befriending Service with face-to-face companionship and support to older adults living in Livingston and the surrounding areas.
O) Crew 2000 - £2,500
Crew 2000 (Scotland) aims to reduce drug and sexual health related harms and stigma, improving mental and physical health without judgement. Crew reduces harm and stigma associated with stimulant drug and alcohol use by providing a range of services for young people, their families, friends and communities. It provides free counselling for people living in Edinburgh concerned about their stimulant and other drug use. The counselling is person centred, which means that they work with what feels important to each individual client.
P) Super Power Agency - donation of £2,500
Super Power Agency (SPA) aims to improve the lives and literacy rate of some of Edinburgh’s most deprived young people. Through a range of activities, from individual mentoring to creative writing workshops at its tuition center in Leith, SPA work with young people aged 8-18 and give them the powers they need to close the attainment gap in education, foster aspiration, and become successful learners, confident individuals, responsible citizens, and effective contributors.
Q) Play Midlothian - donation of £2,500
Play Midlothian (PM) is an experienced and trusted charity that works to improve the welfare of children in Midlothian through play by focusing on health benefits, well-being, and development. PM provides direct to children services and builds family, community, and professional capacity to support children. It targets services to communities with the greatest social need.
THE ABC FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31[ST ] AUGUST 2024
6
R) Light Up Learning - £2,500
Light Up Learning (LUL) provides one-to-one mentoring for high school students and its programs have been operating successfully across schools in Edinburgh and the Lothians since 2015. LUL’s aims to address stress related issues of unequal access to education and disengagement in the classroom by creating low-stress, supportive, and playful learning environments for young people who have experienced disadvantage. LUL places each student in charge of their own learning and gives them the resources, skills, and contacts they need to achieve their true potential.
S) Whale Arts - donation of £2,500
Since being set up by local people in 1992 Whale Arts (WA) has firmly established itself as the cultural anchor organization for Wester Hailes. Located in South-West Edinburgh most of Wester Hailes’ population ranks in the 5% most deprived in Scotland. WA’s purpose-built arts center provides a range of creative activities in high-quality spaces including an arts workshop, theatre, a darkroom, a coworking recording studio and a community garden. WA specifically target people who are vulnerable to exclusion, with its work covering all ages and being separated into work with adults and young people. All of WA’s core programs and services are offered for free or at low cost.
T) MYPAS - donation of £2,500
Mypas promotes the health and wellbeing of young people in East Lothian and Midlothian. Midlothian Young People’s Advice Service (MYPAS) aims to help young people (aged 12-21) to deal with issues including mental health and drug and alcohol use. Based in Dalkeith MYPAS’ information, support and counselling services are free, and held in a friendly and confidential environment. Its wide-ranging services include among others drop-in sessions, meeting young people one-to-one, providing outreach services, holding educational sessions in local schools, and running group work programs.
U) Other grants, cash donations & donations in kind - donation of £800
Other smaller donations during the financial year 2023/24 included single and regular cash donations to Unicef and the British Red Cross, respectively.
THE ABC FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31[ST ] AUGUST 2024
7
Review of Finances
Fundraising & Financial Operations:
Building on the success of prior years’ The ABC Foundation received a donation in kind of £125,000 during the financial year ending 31[st ] August 2024.
A total amount of £60,300 was disbursed on charitable giving to the above-mentioned causes.
Investments:
As outlined above The ABC Foundation aims to build a charity endowment over time to create a long and successful legacy in the promotion of its charitable purposes.
To achieve this goal the trustees decided to invest its charity funds across a range of mutual funds in the investment account to ensure long term growth in ABC’s charity capital.
As of the 31[st ] August 2024 the value of ABC’s investment assets stood at £956,111
Outlook Statement
For the upcoming fiscal year 2024/25 the trustees of The ABC Foundation are planning to focus on the following key initiatives:
-
Further fundraising to facilitate continued charitable giving.
-
Identify and continue to support causes in-line with ABC’s objectives.
-
Maintain the overall amount of donations and grants extended to selected causes.
-
Continue to grow the overall endowment asset base to facilitate future charitable giving.
Approved by the Trustees and signed on their behalf by:
THE ABC FOUNDATION
8
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE AUDITED ACCOUNTS OF THE ABC FOUNDATION FOR THE YEAR ENDING 31[ST ] AUGUST 2024
I report on the accounts of the charity for the ending the 31[st ] August 2024 which are set out on pages 8 to 11.
RESPECTIVE RESPONSIBILITIES OF OFFICE BEARERS 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. The charity trustees consider that the audit requirement of Regulation 10(1) (d) 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 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:
-
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
-
To prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounting 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.
Ian J Brown and Company Chartered Accountants 4 Lothian Street Dalkeith Midlothian EH22 1DS
Date: 27/05/2025
THE ABC FOUNDATION
STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDING 31[ST ] AUGUST 2024
9
| OR THE YEAR ENDING 31STAUGU | ST 2024 | 9 | |
|---|---|---|---|
| Note Receipts Donations Receipts from Investments Total Receipts Payments Grants and Donations Accounting Services Total Payments Transfer to Investments SURPLUS/(DEFICIT) FOR THE YEAR |
Unrestricted Funds Restricted Funds Year ended 31st August 2024 £ £ £ 204,597 - 204,597 50,000 - 50,000 254,597 - 254,597 60,300 - 60,300 - - - 60,300 - 60,300 125,000 - 125,000 69,297 - 69,297 |
Year ended 31stAugust 2023 £ 132,719 70,000 |
|
| 202,179 72,800 - |
|||
| 72,800 125,000 |
|||
| 4,379 |
THE ABC FOUNDATION
STATEMENT OF BALANCES AS AT 31ST AUGUST 2024
10
| Note Opening Cash at bank and in hand Surplus/ (Deficit) for the year Closing cash at bank and in hand Bank and Cash Balances Bank Current Account Cash in Hand Investments Hargreaves Lansdown Fund and Share Account TOTAL |
Unrestricted Funds Restricted Funds £ £ 5,055 - 69,297 - |
Year ending 31stAugust 2024 £ 5,055 69,297 74,352 74,352 - 74,352 Market Valuation 31stAugust 2024 £ 956,111 956,111 |
Year ending 31stAugust 2023 £ 676 4,379 |
|---|---|---|---|
| 74,352 - |
5,055 | ||
| 5,055 - |
|||
| 5,055 | |||
| Market Valuation 31stAugust 2023 £ 596,345 |
|||
| 596,345 |
The accounts were approved by the trustees and signed on their behalf by:
THE ABC FOUNDATION
NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31[ST ] AUGUST 2024
11
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) Regulations 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 running of the organisation.
Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes.
3. Related party transactions
No remuneration was paid to the trustees or any connected persons during the period.
4. Unrestricted funds
| General funds | Opening Balance Incoming Resources Outgoing Resources Transfers Closing Balance £ £ £ £ £ 5,055 254,597 60,300 125,000 74,352 |
|---|---|
| 5,055 254,597 60,300 125,000 74,352 |