[.] 809449el-OIIY341a2.a780.844410c898c2 Scoitish Charily Number SC047011 THE ADAM FOUNDATION TRUSTEES, ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30th NOVEMBER 2024
[.] 809449el-OIIY341a2.a780.844410c898c2 The Adam Foundatlon, Scottlsh Charlty Number SC047011Trustees Annual Report th and Accounts as ai 30 November 2024 GOVERNANCE The Adam Foundation is an unincorporated Scottish charitable organisation (number SC0470111, governeu t)y its nStItUtion, 30th Novemt)er 2016. MEMBERSHIP AND MANAGEMENT The business of The Adam Foundation Is directed by a board of trustees comprising between 6 and 3 members, appointed by the members at the Annual General Meeting A cnairperson, secretary an(J treasurer are apFX)illte(J w tne Doaro of trustee,. no person may hold any office for more than 3 years. The LK)ard must convene a meetlng of the charity trustees each calendar year, that meeting will called annual general meeting °AGM" The gap between one AGM and the next must not be longer than 15 months. COMMITTEE MEMBERS AND OFFICE BEARERS REGISTERED ADDRESS 57 Springkell Avenue Glasgow G414DP CHARITABLE PURPOSE "tne aovancement of euucation" Ine aovancement of reiioion" tne provision of recreational facilities, or the organisation of recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or actwities are prlmarlly Int9ndecJ" ACTIVITIES AND ACHIEVEMENTS Unfortunatety. during 2024, the charity was not active. FiJfuRE PLANS A new Board of Trustees was put In place towards the en(i of the year and It carrle(J out a lull review of the charity's p)sition. The scope of the review was to look at all relevant issues Such as brinoing annual accounts up to oate, (Jetermining what to uo with the prope rty and also esiablishing whether it is viable to continue running the charity long term or should it be wound up. After the review was carried out, the charity adopted a plan in oct0tr 2024 which woul(J allow the Charity to continue running long term on the t)asis that it would supp)rt community projects elsewhere (e.g. Elderly day care). To achieve this, the Boar(J (JeciiJe(J to seii its existing property, nowever, there are a numL)er of issues which much be resolved flrst such as the unauthorlse(i lIS at the property whlch have madg the propety unsuitable to te issued a home rewrt and marketed as a residential dwelling. Furthermore, the property will also require to be renovate(J to achieve its maximum value.
[.] 809449el-OIIY341a2.a780.844410c898c2 The Adam Foundatlon, Scottlsh Charlty Number SC047011Trustees Annual Report th and Accounts as ai 30 November 2024 RESERVES The reserves figure at the yearend date was £6,281.98 represented by a bank cash Liaiance. All reseNes are regar(ied as unrestricteij ano the trustees (Jo not t)eiieve that having a reserves policy is necessary at this stage as the charity does not employ staff. 2024 TOTAL FUNDS CLOSING BALANCES HELD AS: Bank ol Scotland TOTAL 30.11.24 6,281.98 6,281.98 FINANCE There was no Income or expen(ilture In the year as the charlty was Inactlve. The report, accounts and notes were approved by ihe trustees on and slgned on Ihelr behalf by:
[.] 809449el-OIIY341a2.a780.844410c898c2 The Adam Foundatlon, Scottlsh Charlty Number SC047011Trustees Annual Report th and Accounts as ai 30 November 2024 RECEIPTS AND PAYMEpif ACCOUNTS AS AT 30th NOVEMBER 2024 2024 TOTAL FUNDS 2023 TOTAL FUNDS RECEIPTS TOTAL RECEIPTS PAYMENTS TOT AL PAYMENTS SURPLUSI(DEFICIT) FOR THE YEAR STATEMENT OF BALANCES AS AT 30TH NOVEMBER 2024 2024 TOTAL FUNDS 2023 TOTAL FUNDS CASH AT BANK AND IN HAND Opening balanS 01.12.23 SurplusllDeflcll) for the year CLOSING BALANCES 30.11.24 6,281.98 6,281.98 6,281.98 6,281.98 2024 TOTAL FUNDS 2023 CLOSING BALANCES 30.11.24 HELD AS: Bank ol Scotland TOTAL 30.11.24 TOTAL FUNDS 6,281.98 6,281.98 6,281.98 6,281.98
[.] 809449el-OIIY341a2.a780.844410c898c2 The Adam Foundatlon, Scottlsh Charlty Number SC047011Trustees Annual Report th and Accounts as ai 30 November 2024 1 BASIS OF AccouKfiNG These accounts have been prepared on the receipts and Payments Basis in accordance with the charities and Trustee investmenl (Scotlandl Acl 2005 and the charities Accounts (Scotlandl, Regulations 2006las arrended) 2 NATURE AND PURPOSE OF FUNDS The charity was inacbve and had no income or expendrture in the year 3 RELATED PARTY TRANSACTIONS- No remuneration has Exen paid to any trustees in accordance with section 67 of the Charities and Trustee investnEnl (Scotland) Act 2005. There were no other salaries paid to any connected FErsons durfng the year. There were no expenses pakl lo truslees or connected rSOnS durlng IF year. Other than out of wcket expenditure. 5 ASSETS ASSETS Building TOTAL 2ff24 350,CX)O 350,tK)O 2023 350,000 350,000 7. LIABILITIES The charliy has no Ilabllllles al thls Ilme.
[.] 809449el-OIIY341a2.a780.844410c898c2 The Adam Foundatlon, Scottlsh Charlty Number SC047011Trustees Annual Report th and Accounts as ai 30 November 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ADAM FOUNDATION I report on Ihe accounls of the charity for IIE year end1 30 November 2024, which are set out on pages 1 to 4. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The charity's trustees are responsible for the preparation of the accounts in a(X0rdan with the terms of the Charities and Trustee Investment (Scotlandl Acl 2005 and the Charities AcUnIS (Scollandl Regulations 2006. TIE charity irustees consider that the audil requirement of Regulation 1011) {dl of the Charities Accounls (Scotlandl Regulations 2006 does not apply. It is my responsibility to examirE the accounts as required under section 44111 {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 accordan wilh Regulatlon 11 of the Charllles Accounls (Scotlandl Regulations 2006. An examination includes a review ol the accounting records kept by the charity and a ojmparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosures in Ihe accounls, and the seeking ol explanalions from you as trustees concerning any such matters. TIE pr(edureS un(krtaken do not provic* all the eV1cÈn that would be required in an audit and, consequently. I do not express an aLbdit opinion on the view given by IFE accounts. INDEPENDENT EXAMINERS, STATEMENT In the course of my examination, no maller has corrE lo my attention= 11 which gives rre reasonable cause to believe that, in any material resFect, t1 requirements lo keep accounting records in accordance with Section 44(1) (al of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounls Regu lations have not been met" or 21 to which, in my opinion, attention should be drawn in order to enable a proper ched. Address: Voluntary Action North Lanarkshire 90 Brandon Parade Easl mOtheell ML1 1LY Date.. 14 M(ry 2025 IUTCI