D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO CHARITY NO: SC048801 APROXIMA SCIO REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 PAGE Reference and Administrative information Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-14
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Prlnclpal Offlc8 26 Ashburton Road Glasgow G12 OLZ Charlty Number SC048801 Independent Examln8rs Wbg Services LLP 168 Bath Street Glasgow G2 4TP Bank Santander Business Banking 2 Triton Square Regent's Place London NW13AN UK
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees are pleased to present their report together wrth the financial statements of the charity for the year ending 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and 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. Structure, governance and management AA The charity is a Scottish Charitable Incorporated Organisation (SCIO) governed by its constitution which was registered with the Office of the Scottish Charity Regulator on 31 October 2018. Under the constitution any person who is willing to act as a trustee, and is permitted by law to do so, may be appointed to be a trustee by a decision of the other trustees. ObJ8ctlves and actlvltlos Aproxima is an environmental arts charity based in Glasgow. It creates multi-disciplinary work that spans live productions, community local food initiatives, creative design and public interventions. Aproxima works at both a neighbourhood and national scale, often outdoors or in unusual or unused places with the integral involvement of local people. This will include all forms of public art. horticulture. environmental art, visual art, live performance, events, writing, lectures, symposiums, discussions. site based installations, films, and architecture. Aproxima also supports the advancement of citizenship and personal development by collaborating with local communities, whether through direct participation or otherwise in the delivery of all forms of art related activities. This may include using art to provide innovative regeneration strategies that can be of benefit both at a local and national level. We also encourage the open learning and exchange of values and beliefs to find ways to enhance community relationships. The Necropolis Glasgow's great silent 'City of the Dead, contains over 50.000 burials. it is well known for the grand memorials to the richer residents of the city, built from 1836 onwards. The cemetery contains 21,000 common graves, where people were buried when their families could not afford the price of a headstone. Aproxima staged the first of several communal interventions in the Necropolis, a Winter bulb planting event with singer Karine Polwart. attracting significant press coverage and positive reviews. The initiative developed a continuing partnership with The Friends of Glasgow Necropolis, Scouse Flowerhouse, the National Wildflower Centre and Glasgow City Council.
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities (continued) With the support of a capital grant from the Glasgow City Heritage Trust Aproxima are partnering with Glasgow University Archaeology Department and Clyde Archaeology developing plans for an investigation of St Mungo's Well. the sacred water source is contained within the walls of Glasgow Cathedral Crypt. A plan has been jointly prepared to gain Scheduled Monument Consent. Work began on the script for an authored GPS Audio Walk that will run from Townhead through historic elements of Glasgow to the Necropolis, partnering with University of Westminster Music and Sound Arts Department. This educational relationship also delivered a reprise of the 2021 Over Lunan performance with a sell-out double Marimba and trumpet concert in the highly resonant lift chamber of the Brunel Museum in London. The Kelvindale Growers Garden continues to be well-used and offers a high impact urban community garden in the northwest of Glasgow, with an exceptional design by ZM Architecture and a craft-focused build by B7 Construction; KGG was bom in Spring 2021. The productive street-based resource grows fruit and vegetables and delivers social and environmental impact through voluntary work with all ages and backgrounds, there is a hot composting section and greenhouse seed development as well as numerous volunteering, social planting and harvesting events throughout the year. Aproxima acts as the anchor organisation for KGG. coordinating the imaginative programme and fundraising. Harvest events are a a creative highpoint carrying on the 'chip shop, theme from lockdown and the hot compost techniques developed in the garden have been shared online and are shared through site visits from other productive green space charities across Scotland. The trustees would like to thank the generous support of the funders who have enabled Aproxima to build a portfolio of events, athorks, music releases and environmental initiatives. The William Grant Foundation have been instrumental in supporting the core organisational structure of the charity. Plans for future perlods Aproxima are continuing development and production of the GPS located Audio Walk following route to from Townhead to Calton exploring lesser-known parts of Glasgow's pre-industrial history. Work in the Glasgow Necropolis to create and maintain flower memorials situated on areas of common graves continues with special planting events. The St Mungo Well investigation is being planned for a public launch as part of Glasgow 850 in January 2025. A granite curbside plafform is being designed to enable viewing of the Molendinar Burn from the bridge on Duke Street, Glasgow as part of the GCC Avenues Plus programme.
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Financial review The results for the year and financial position are set out in the attached financial statements. The charity's incoming resources for the year were £170,303 (2024: £61.603) and total resources expended were £133,535 (2024". £93,011) leaving a surplus of £36,768 (2024: deficit of £31,408) at the year end. Reserves Pollcy The trustees, policy is to maintain unrestricted funds equal to 3 months, worth of operational costs, this equates to £15.458. The unrestricted free reserves at 31 March 2025 were £21.707 and therefore above target level. Truste8s' responslbllltles In relatlon to the flnanclal statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which give a true 8nd fair view of the state of 8ffairs of the charity and of the incoming resources and application of resources, of the charity for that year. In preparing the financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the applicable Charities SORP; make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts {Scotland) Regulations 2006, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charrty and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ned on their behalf by: Date: 9 September 2025
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF APROXIMA SCIO FOR THE YEAR ENDED 31 MARCH 2025 I report on the accounts of the charity for the year ended 31 March 2025 which are set out on pages 6 to 14. Respective responsibilities of truste85 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 Regu18tion 10(1) (a) to (c) 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. Basls of Independent examlner's statement My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 conceming any such matters. The procedures undertaken do not provide all the evidence th8t would be required in an audit. and consequently I do not express an audit opinion on the view given by the accounts. Independent examlner'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 respects 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, and to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understsnding of the accounts to be reached. ervices 168 Bath Street Glasgow G2 4TP Date: 9 September 2025
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| Note Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 £ £ £ £ £ £ Income and endowments from: Donations and legacies 4 53,520 104,704 158,224 52,784 8,219 61,003 Other incoming resources 5 12,079 - 12,079 600 - 600 Total Income 65,599 104,704 170,303 53,384 8,219 61,603 Expenditure on: Charitable activities 6 43,835 71,704 115,539 72,108 5,869 77,977 Other expenditure 7 17,996 - 17,996 12,684 2,350 15,034 Total Expenditure 61,831 71,704 133,535 84,792 8,219 93,011 Net income/(expenditure) 3,768 33,000 36,768 (31,408) - (31,408) Transfers between funds - - - - - - Net movement in funds 3,768 33,000 36,768 (31,408) - (31,408) Funds reconciliation Total Funds brought forward 13 17,939 - 17,939 49,347 - 49,347 Total Funds carried forward 13 21,707 33,000 54,707 17,939 - 17,939 |
61,603 | 77,977 15,034 |
93,011 | (31,408) - |
(31,408) | 49,347 17,939 |
|---|---|---|---|---|---|---|
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO BALANCE SHEET AS AT 31 MARCH 2025 Total Funds 2025 Total Funds 2024 Note Flxed Assets.. T8ngible 8ssets Total Flxed Assets 10 2.482 2,482 702 702 Current assets.. Debtors Cash at bank and in hand Total Current Assets 11 25,000 33,575 58,575 19,037 19,037 Llabilltles: Creditors falling due within one year 12 (6,350) {1,800) Net Current Assets 52.225 17.237 Net Assets 54,707 17,939 The funds of the charlty.. Unrestricted funds Restricted funds Total charlty funds 13 13 21,707 33 000 54,707 17,939 17,939 igned on their behalf by: Date: 9 September 2025
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1. Accounting Policies (a) Basis of preparation and assessment of going concern The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the charrty's ability to continue as a going concern. The financial ststements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these fin8nci81 statements are rounded to the nearest £. (b) Funds structure Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitsble objects. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed, or through the terms of an appeal. Further details of each fund are disclosed in note 13. (c) Income recognltlon Income is recognised once the charity has entitlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entrtled to the funds. the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting year. Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the charity,. this is nonnally upon notification of the interest paid or payable by the bank. Income from government and other grants. whether'capital, or'revenue, grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1. Accounting Policies (continued) (d) Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (0 below. Expenditure on charitable activities includes governance costs and other activities undertaken to further the purposes of the charity and their associated support costs" Irrecoverable VAT is charged as a cost against the activity for which the expenditure is incurred. (e) Donated servlces and facllltles Donated professional services and donated facilrties are recognised as income when the charity has control over the item. any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised. Refer to the trustees, annual report for more information about their contribution. (f) Allocatlon of governance costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory independent examination fees. The allocation governance costs are analysed in note 8. (g) Tanglble flxed assets and depreclatlon All assets costing more than £500 are capitalised and valued at historical cost. Depreciation is charged as follows.. Basis 4 years straight line 3 years straight line 4 years straight line Office Equipment Computer Equipment Cycle Equipment (h) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. (i) Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1. Accounting Policies (continued) O") Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. (k) Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. (l) Judgements and key sources of estlmatlon uncertalnty In the application of the company's accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised, if the revision affects only that year, or in the year of the revision and future years if the revision affects both current and future years. The trustees are satisfied that the accounting policies are appropriate and applied consistently. Key sources of estimation have been applied as follows; Estimate Basis of estimation Depreciation of fixed assets Fixed assets are depreciated and amortised over the useful life of the asset. The useful lives of fixed assets are based on the knowledge of the operations team. with reference to assets expected life cycle. 2. Legal status of the charlty The charity is a registered Scottish Charitable Incorporated Organisation. 3. Related party transactlons and trustees, expenses and remuneratlon The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2024: £nil). There were no trustee expenses paid or waived during the year (2024: travel expenses totalling £469 were reimbursed to one trustee). £39,000 (2024.. £33,000) was paid to trustee in relation to consultancy fees during the year. No outstanding amounts were due at the year end. io
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 4. Income from donations and legacies 2025 2024 other grants and donations Hugh Fraser Foundation William Grant Foundation- unrestricted William Grant Foundation - St Mungos Well Athork 110,224 3,000 20.000 25.000 158,224 16,753 3,000 41,250 61,003 5. Other Income 2025 2024 Glasgow Life IT contributs.on plus sundry sale of props & equipment Theatre Tax 600 12,079 12,079 600 6. Analysls of expendltur8 on charltable actlvltl85 2025 2024 Consultancy fees Other direct expenses Governance costs (note 8) 48,951 64,488 2.100 115,539 53,598 23,079 1,300 77.977 7. Analysls of other expendlture 2025 2024 Motor and travel costs Premises costs General administrative costs Legal and professional costs Depreciation 8.695 4.270 4.250 9,357 1.008 1.589 2,575 505 15.034 781 17,996 8. Allocatlon of governance The breakdown of govemance costs is shown in the table below: Governance costs" 2025 2024 Independent examiner's remuneration 2,100 2,100 1,300 1,300 Govemance costs are allocated to costs of charitable activities. li
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 9. Net incomel(expenditure) for the year This is stated after charging: 2025 2024 Depreciation Independent Examiners fee 781 2,100 505 10. Tanglble Flxed Assets Offlce Equlpment Computer Equlpment Cycle Equlpment Total Cost As at 01 April 2024 Additions Disposals As at 31 March 2025 787 924 1,711 2,561 2,561 787 924 Depreclatlon As at 01 April 2024 Charge for year On disposals As at 31 March 2025 558 196 451 308 1,009 781 277 754 759 277 1,790 Net book value As at 31 March 2025 33 165 2,284 2,482 As at 31 March 2024 229 473 702 11. Debtors 2025 2024 Accrued income 25,000 25,000 12. Credltors: amounts falllng due wlthln one year 2025 2024 other creditors Accruals 3,350 3,000 6.350 1,800 1.800 12
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 13. Analysis of charitable funds 2024 Analysis of Fund movements Unrestricted funds Glasgow Requiem Programme Total deslgnated funds General funds Total unrestrlcted funds Restrlcted funds Community Garden Initiatives Total restrlcted funds TOTAL FUNDS Fund blfwd Fund clfwd Income Expenditure Transfers 8,282 9,534 8.282 9,534 41.065 43,850 49,347 53,384 {17,816) (17,816) 66,976 84,792 17.939 17,939 8,219 8,219 8,219 93,011 49,347 61,603 17,939 2025 Analysls of Fund movements Unrestrlcted funds General funds Total unrestrlcted funds Restrlcted funds Glasgow Requiem Programme Kelvingrove Growers Garden St Mungos Well Athork Total r8Strlct8d funds TOTAL FUNDS Fund blfwd Fund clfwd Income Exp8ndlture Transf8rs 17.939 65,599 17.939 65,599 61,831 61,831 21.707 21.707 78,104 1,600 25 000 104,704 17,939 170,303 {70,104) (1,600) 8,000 25,000 33,000 54,707 133,535 a) The unrestricted funds are available to be spent for any of the purposes of the charity. The trustees have created the following designated funds: Glasgow Requiem Programme - for a three year multistrand programme focused on pre-industrial Glasgow. b) Restricted funds are held for the following purposes: Glasgow Requiem Programme - funding towards the Requiem Walk project. Community Garden Initiatives - Funding towards working with communities to create local community growing gardens. Kelvingrove Growers Garden Mainstreaming project. Funding towards the Community Wealth Building st Mungos Well Athork- Funding towards the cost of commissioning and installing mosaic athork within the Well associated with St Mungo in Glasgow Cathedral. 13
D(Kusign Enveknpe ID. DOD41286-572LL407A-9760-8D2807E88FAO APROXIMA SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 14. Net assets over funds 2024 Unrestrlcted Restrlcted Funds Funds Total 2024 Tangible Fixed Assets Bank Creditors 702 19,037 1,800 702 19.037 1,800 2025 Unrestrlcted R8Strlcted Funds Funds Total 2025 Tangible Fixed Assets Debtors Bank Creditors 2.482 2.482 25.000 33.575 6,350 54.707 25.000 8,000 25.575 6,350 21,707 33,000 14