## **Scottish Charity Number: SC048059** ## **SCOTTISH CHARITY FINANCE GROUP SCIO** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 1 **Scottish Charity Finance Group SCIO Report and Financial Statements For the Year Ended 31[st] March 2024** |**Contents**|Page| |---|---| |Executive Committee’s Report|3-5| |Independent Examiner’s Report|6| |Statement of Financial Activities|7| |Balance Sheet|8| |Notes to the Financial Statements|9-10| 2 **Scottish Charity Finance Group SCIO** **Report of the Executive Committee For the Year Ended 31 March 2024** The Executive Committee, composed of those individuals who are the Trustees of the charity, has pleasure in presenting its report and Financial Statements for the year ended 31 March 2023. Throughout this report, the Trustees are referred to as the Executive Committee. |**Charity Name**|Scottish Charity Finance Group SCIO| |---|---| |**Charity Number**|SC048059| |**Executive**|| |**Committee/Trustees**|| |**Independent Examiner**|Small Business Support| ||19 Upper Greens| ||Auchtermuchty| ||Fife| ||KY14 7BX| |**Bankers**|Bank of Scotland| ||20/22 Shandwick Place| ||Edinburgh, EH2 4RN| |**Solicitors**|Shepherd and Wedderburn LLP| ||1 Exchange Crescent| ||Conference Square| ||Edinburgh, EH3 8UL| |**Principal office address**|59 Campsie Drive| ||Milngavie| ||G62 8HX| |**Website**|www.scfg.org.uk| 3 **Scottish Charity Finance Group SCIO** ## **Report of the Executive Committee For the Year Ended 31 March 2024** ## **Governing Document** The Scottish Charity Finance Group SCIO (SCFG) is a Scottish Charitable Incorporated Organisation (SCIO). The charity’s governance regime is set out in its constitution. ## **Appointment of Trustees** The management of SCFG is the responsibility of the Executive Committee. The members of the Executive Committee are the Trustees of the charity and are elected by the members at the Annual General meeting. In addition, the Executive Committee may co-opt further members of the Group, who serve until the conclusion of the next Annual General meeting. ## **Objects and activities** SCFG is established to improve the efficiency of the administration of charitable organisations operating within Scotland in direct pursuit of their objectives by the provision of advice, training and information designed to improve standards in their financial management. ## **Incorporation** The charity was established as a SCIO on 15 January 2018 to replace the Scottish Charity Finance Group (registered charity SC022533), an unincorporated charity which was dissolved with all assets and liabilities passing to the SCIO on 5 November 2018 (date of merger). Incorporation did not introduce any material changes to the objectives, activities, membership or governance regime of the charity, and the accounts are presented under the principles of merger accounting as one ongoing entity. ## **Principal activities, members’ benefits and review of activities and achievements** Activities have not restarted following the end of Covid restrictions due to the resignation of trustees and illness affecting other trustees. The remaining trustees are considering the best course of action to serve the organisation’s members. ## **Financial review** The charity made a deficit of £50 (2023: £50 deficit) on income of £Nil (2023: £Nil). As SCFG did not undertake any activities during the year, it was decided that no membership subscriptions should be levied. 4 Scottish Charity Finance Group SCIO Report of the Executive Committee For the Year Ended 31 March 2024 Reserves poliry The Executive Committee has reviewed the reserves policy and agreed to maintain the existing minimum level of three month5, annual operating expenditure to cover for shortfalls in funding whilst further funds are being sought. SCFG will review the value of its reserves in the context of expected annual expenditure when and if activities restart. This reportwas approved by the Executive Committee on 13/11/2024 and signed on its behalf by: Scottish Charity Finance Group SC048059 INDEPENDENT EXAm￿ER, REPORT For the Year eTKled 31° March 2024 I report on the ￿COUnts of the charity (SCIO) for th¢ year ernlal 31a March 2024 Resp¢¢live responsibilitie5 of iruslees and examiner Th¢ charity's tnJs*es (who are also the diT￿lorS of the company for the purtK)s¢s of company141W) are responsible foT thc prcpardtion of the dLLounts in &iLLorJance with thc tenns of the c.harities and Tn￿tt Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 21X)6 (lls amended). Thc charity trustc¢s consider that th¢ audit requirement of RegTul. An examination includ¢s a review of th¢ a￿unlIn￿ records kepi b>, the charity and a comparison of the accounts prescntcd with those records. It also includcs consideration ot. any unusual itcms or disclosures in the accounts and SLYks ¢xplanalions troni the tru5tLLs cuncrming such miilK'pi. The proL¢du￿ undertakcn do t￿t provide all the evidence that would be required in an audit and ¢onsequentl J I do not express an audit opinion on the N'iew given by the accounts. Independenl ￿*Miner'S stalem¢Dt In coursc of my examination no mattcr has comc lo my aliention l ) which givcs me re&8onable cause lo believe in any malcrial res￿t the requirements: to k¢¢p accounting records in accordwKe with S¢ction 44(1 Xa) of tk 2(X)5 Act and and Regulation 4 of the 21Kkn Accounts Regulations and to prepare accounts which accord with the accounling records and comply with Rcgulation 8 of the 2006 Accounts Regul￿lOns hdve noi been met or 2) lo which, in my opinion. alt¢ntion should bc drawm in order lo cnable a pro ## **Scottish Charity Finance Group SCIO** ## **Statement of Financial Activities** ## **For the Year Ended 31 March 2024** |**Note**
**Expenditure on:**
_Charitable activities:_
Cost of independent examination
**Total**
**Net expenditure**
**Net movement in funds**
Total Funds brought forward
Total Funds carried forward
**5**|**2024**
**£**
**50**
**50**
**(50)**
**(50)**
**1,200**
**1,150**|**2023**
**£**
**50**| |---|---|---| |||**50**| |||**(50)**| |||**(50)**
**1,250**| |||**1,200**| All funds are unrestricted funds The notes on pages 9 - 10 form part of these financial statements 7 ## **Scottish Charity Finance Group SCIO** ## **Balance Sheet at 31 March 2024** |**Note**
**Current Assets**
Debtors
Cash at bank and in hand
**Liabilities:**
Creditors - amounts falling due within one year
**2**
Net Current Assets
**Total Net Assets**
**Funds:**
Unrestricted funds
**Total Funds**
**5**|**2024**
**£**
**62**
**1,438**
**1,500**
**350**
**1,150**
**1,150**
**1,150**
**1,150**|**2023**
**£**
**62**
**1,438**| |---|---|---| |||**1,500**
**300**| |||**1,200**
**1,200**| |||**1,200**| |||**1,200**| The financial statements on pages 7 - 10 were approved by the Executive Committee on 13/11/2024 and are signed on its behalf by: The notes on pages 9 -10 form part of these financial statements. 8 **Scottish Charity Finance Group SCIO** ## **Notes to the accounts** ## **1. Accounting policies** ## _**Basis of accounting**_ The financial statements have been prepared under the historic cost convention and in accordance with ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)’ – (referred to as ‘the Charities SORP’). The ‘Financial Reporting Standard applicable in the UK and Republic of Ireland’ (FRS 102) and UK Generally Accepted Practice as it applies from 1 January 2015. The charity constitutes a public benefit entity as defined by FRS 102. ## _**Going concern**_ The financial statements have been prepared on a going concern basis. The executive committee has assessed the charity’s ability to continue as a going concern and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. ## _**Accounting estimates**_ The executive committee does not consider there are any areas of the financial statements where significant judgements are being carried out. ## _**Income**_ Income is included in the Statement of Financial Activities when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability. ## _**Expenditure**_ All expenditure is accounted for on an accruals basis. ## _**Debtors**_ Debtors are recognised at the settlement amount due. ## _**Creditors and provisions**_ Creditors and provisions are recognised, at settlement amount, where the charity has a present obligation resulting from a past event, which is likely to result in the transfer of funds to a third party, and the amount due can be measured or estimated reliably. ## _**Fund accounting**_ Unrestricted funds arise from donations without a specified purpose and other income generated and are available to be used for any of the objects of the charity at the discretion of the trustees. Restricted funds are to be used for specific purposes as laid down by the donor or funder. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs. 9 ## **Scottish Charity Finance Group SCIO** ## **Notes to the accounts (continued)** |**2.**
**Creditors**
_Amounts falling due within one year:_
Accruals and deferred income
Other creditors
**3.**
**Independent examiner**
Independent examination fee|**2024**
**£**
**150**
**320**
**470**
**2024**
**£**
**50**|2023
£
100
320| |---|---|---| |||420| |||2023
£
50| ## **4. Related party expenditure** No members of the Executive Committee received travel expenses in the year. ## **5. Charity funds** For both years, all funds of the charity were unrestricted funds. **Debtors** 2024 2023 Pre March 2020 £62 £62 10