FRIENDS OF ST MARGARETS SCIO Annual Report & Financial Statements For the year ended 28 February 2025 OSCR
ANNUAL REPORT 8 FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 MESSAGE FROM THE CHAIR 11 gives me muGh pleasur¥ tv Ii',Iro(IuLe our nal repon ano aCCniS lor 2024125, 1cm I hope you will find of interest. As in previous years. I wsh to thank all 11e IrLStees their work, cortribut,'ons. and support over the past year and especially lo our secret- d our trexsur ho continue lo prDv#de such valued trr* CONTENTS Trustees, Annual Reptrt................................................................................................................... Independent Examirer's Rewrt........................................................................................................ Stalernenl of Finanoal Adivilies.-...........................................- Slalernent ol FinanGal Pc6ilK)n...................... ..-..................................................................,...,,....... Siatornenl of Cash Flows............... ...................................................................... ........................... 10 Noie$ 10 ltte Financial Slatemenls..
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 The ITUStees present their repjrt and financial statements 103elhef Wth the independent examiner's Teport for the year ended 28 February 2025. OBJECTIVES & ACnVITIES The charity's purpose is lo advance health by receNing and raising funds to promote and aid the welfare of.. patients trealed al Sl Margarets Hospild. patients treated al Si Margarets Health Centre- patients treated in the community of Auchlerarder and Distncl.. and Ihe MmunI1Y of Auchterarder and D'islricL In furtherance of these objectives, the charitys principal activilies dunng the year were to Provhle grants to support Sl Margarets HosFHlal, St Margarets Health Centre and local organisalions Ihat meel rhe above cnleria. ACHIEVEMENTS & PERFORMANCE Through aiiolher successful year we have had some fundraising, along donations and other monies received. This continues to enable multi grant approvals for various OTganisalions lo evolve and diversify. as well as supporting Sl. Margarel's Hospital. As always there 1$ a theme of welfare and health prornolion allached lo the grants we have made. A final subslanlial grant was made lo the Auchlerarder Community Bus Group ITown Bus), whose lulure, happily. is now more secure. The Sandy Gunn Memorial Garden was also completed and opened in the Autumn of 2Q24, somewhere we have sUp[ed as Il brings an area of calm and reneclion lo part of the town, that Is freely accessible lo anyone. Auchlerarder Community Sport and Recreation IACSRI are com eting the Pump Track and Mountain Bike Trail (both wlhin the Primrose Parkl. which are due lo open In April 2025. This wll further exlené activity oreas for predorninanlly young people. In a separate, bul conn8Cted Vn. we also part-funded the rde of Community Connector for a further year, thus helping the evdution of wder community prqects all aimed al improving local welfare and health amongst other goals. Elsewhere, we cometed funding towards the Aberulhven Village Hall Trust prqect lo support local Youth Club provision In the local community. Although installed in 8 previous year, funding for compqelely ngw $el$ of wrtains, tlinds cubicle surrounds for the hospital was also completed. Addilionaily, we were atrje to suppryt the provision of an adiuslable Phlgbolomy Couch for the Oulpalienls department. lo be used primarily by the Comrnunily Care & Treatmenl Service ICCATSI. It has been a somewhat ouieler year for grant requesls. bul that will undoubtedly change in the coming years, and il Is good lo know Ibal we are in a fin8nvally sound silualion. The chaTily will conlinue 10 9enerale income from ils donation5, cdlections, lundraising activities along with Ihe Income received from Ils Investments.
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 FINANCIAL REVIEW The charity's principal sources of incom& continue lo be donations, investment income and occasional legacies, whilst expanditure is looused on supporting the community of Auchlerarder through gran¢ lunding. The following 15 a summary of Income and expenditure for the year-. 2025 2024 Ino)me Expendilure Nel gainslllossèsl on invèstmenls Nel movement In funds Tolal funds as a101 M8rch 2024 Total funds as at 28 February 2025 36,005 131,9801 6S,712 69,737 940,854 1,010,591 28,820 146,0551 11.077 16,158) 947,012 940.854 Investment pollcy The Irustees. policy is lo continue lo seek a balanced return between capilal growth and Income through active long-lerm managemenl ol Ihe Inve51menl portfolio. Prlnclpal rlsks The charity is reliant on Investment Income towards the cost ol Ils granl-making programme. The principal risks facing th8 Irustees are thus a sudden significant downward movement In the valuation of Ils Investments andlor a significant reduction in Investment income. Th8 Iruslees consider that their Investment rnanager's longer-lerm investment strategy allied lo a diversity of holdings miligales, as far as reasonably possible, against the risks Involved. Even if such movements were lo occur, Il is unlikely there would be any immediate impact on the charity's gTanl giving programme. Reserves policy The Iruslees consider the average of the last throe years, expenditur8 is an appropriate level of reserve5 10 hold lo meet applications for grant funding and the running costs of the charily wilhoul h8ving lo realise inveslmenls. Reserves al the year end, which are broadly in Ine with Ihe largel level, were.. 2025 2024 Total funds as at 28 Fèbruary 2025 Lcss. Inveslmcnls Free reserves as at 28 February 2025 1,010,S91 927,533 83,058 940,854 862.997 77.857 FUTURE PLANS The Iruslees Inlené lo continue with ltteir programme of grant funding lo support the advancement of physical and mental health within the community of Auchlerarder. STRUCTURE GOVERNANCE AND MANAGEMENT Governlng document The chanly is a Scollish Charitable Incorporated Organisalion ISCIOI that was regislereé on 1 S November 2019 and Is governed by its constitution last updated In September 2tJ21. It is the successor charily to the Friends of Si Margarets, which was an unincorporated association Ichaflty No SC0148091, established In 1985.
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 28 FE8RUARY 2025 AppDintment of trustees Trustees are appointed al the Annual General Meeling of the charity. In addition, the Board ol Trustees may appoinl other trustees al any lime, subject lo there being A minimum of six and a maximum of thirteen Irusl&es, comprising.. one practicing or retire(S general praclilioner., ne rnernber of the nursing staff with clinical responsibility for beds In Sl Margarets Hc6pilal'. one rnember oy stall trom Sl Margarets Heallh Centre., and at Least Ihree, bul no mora than len, rnembgrs ol th8 community of Auchlerardor and Dislricl defined as the area bounded by the setilemenls at Greenloaning, Muthill, Forgandenny ard Glendevon. The inttsrprelalion of the Iirnits of these boundaries will be at the discretion of the trustees. REFERENCE AND ADMINISTRATIVE DETAILS Charity namè Friends ol St Margar8ts SCIO Charlty number Sn049T34 Bankers Unilg Trust Bank plc 4 Brindleypl8ce Birmingham B1 2JB
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDEQI 28 FE8RUARY 2025 Investment managers Ralhbone Investment Management Ltd Géorge House SO George Square Glasgow G2 1EH Independent éxaminer APPROVAL This report, which has been prepared In acc4JrdanGe wlh the Ch8rities and Trustee Inveslrnenl (Scollandl Act 2005, was approved by the Iruslees on 11 July 2025 and signed on thr behalf by.. nair
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 Independent examins report lo the trustees of Friend5 of St Maryarets SCIO I report on the acLounts of the charity for the year ended 28 FebrLrary 2025, vthich are set wt on pages 8 to 14. Respective responsibilities of tFU5tee5 and examiner The charity's trLJStees are responsible for the prcparalion of the accourts in accordaryce w'ith the lems of the Charities and Trustee Investrnent (Scotlandl Act 2005 i'the 200S Ad") and the Charities Accounts Iscoilandl Regulations 2Q061&s atnendedl 1.the 2006 Regulalions"). The trust&s consder thal audit requiTement cl Regulalion110111 IlaFlc) of Ihe 2CKJ6 Regulabors dr5 not apply. 11 Is my resporsibility tD examine the accA)unls urder secicm 144;{1'lcl of the 2005 Att aod to slate whether particular matters have come to m.y 2ttentK>n. Basis of indePd*nt eJ(amin•rfs statèmènt My eXam.Inali Is carried out In acCortJan with Re3uL31ion 11 d the 2006 Regulations. An exarninaiion includes a review ol the accounliog records kept by the chanly and a comparison of the accounts presented with those recores. 11 also indudes consideration of any unusua IleTns or disdosLres In Ile accounts and seeks explanatiws from lfre trustees cl)nmirg any such matters. The procedures ut)Jertaken do n¢ pro¥ide all the evKlence that would te required In an audil. and consequer.lly I do not express an audit opinion the view given by the accounts. Independent examinerfs statement In connectic wlh rny examination. no matter Garne lo my attenlion: which gives me reasonaLqe cause lo bve that In any malefial res, the requirernents.. lo keep accounting records In accordance vAth sectson 4411iial OY tle 2005 Act and Regulaticn 4 of the 2006 Regulations, and lo wepare accounts vhich accord wth the accounting recd5 and comply wth RegLAation 8 of the 200) Regulations have been mel, or to whiGh, in my opinith, attention should be drawn to enatAe a propeT understanding of the accounts to be reaGhed. 14 JLIV 2,J2
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2Q25 Note 2025 2024 Income from.. Dona110ns 1,630 4,492 110 Funeral cdlections 5,259 Fund raising Investments 723 469 29,160 36,005 22,982 28.820 Expendlture on: Gianls 22,899 83 38.116 Bank charges Drinking water supplies for hospital patientslvisitors Govem8nce costs 72 664 200 200 Health Centre 740 Insurance 312 266 Investment management fees Live active 7,095 8.684 566 Sundry expenses 85 53 31,980 46.055 Nel incomellexpendlturel belore gainslllosses) on investments Nel gains on Investments Net incomellexpenditurèl 4,025 65,712 69,737 (17.2351 11.077 16.1581 Reconciliation of funds Total funds as al 01 March 2024 940,854 947.012 Tolal funds as at 28 February 2025 1,010,591 940.854 All funds are unrestricted All income and expendilure derive from continuing activities The above slalemenl indudes 811 gains and losses recognised during the year The Notes on pages 1110 14 form an Intra* part of these accounts
STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 2025 Note 2025 2rJ24 Flxed assets: Investments 927,S33 862,9g7 Current as$•ts', Investnents 1.489 Debiors 200 Cash at bank and in hand 83,333 84,822 87,412 103,1g3 Llabllllles: Creditors (due wlhin one year) Nèt currènt assèts 1.764 83,058 2.fj.336 77,857 Net assels 1,010,591 940,854 Funds ol the charity: Unrestriclgd Iljnds 1,010,591 940,8S4 All funds are unrestricted The Nvl¥s oli yayes 1110 14 forrTI ari integral part ol Ihe5e accoun15 These accounls, whiGh have been prepared in accordan with the Charities and Trustee Inveglmenl (Scotlandl AGI 2005, wer8 approved by lh8 Irusle8s on 11 July 2025 and signed on their behalf by I i &a&U',
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28 FEBRUARY 2025 Note 2025 2024 Cash flows Irom operating actlvities Nel incomellexpenditurpl a% per Ihp Slalemenl of Financial Activllies Adjustments for.. Investment managers. lees IGainsllloss88 on investmenls Inv8Stmenl income 69,737 16.1581 7,095 6.684 165,7121 111,0771 129,1601 122.9821 200 52 Ilncr@aseydecreasè in dèblors In¢rea$elldecre3sel in creditors 123,5721 113,0111 141,4121 146,4921 Cash flows from Inv•stlng acllvlll•s Purchase ol investments S.9191 1102,3751 29,160 22,982 14,092 9.393 37,333 170,0001 Investmenl income Ilncreaselldecre8se in income held by investment manager Net Increaselldecreasel In cash Tolal cash as al 01 Marctt 2024 14,0791 1116,4921 87,412 203.904 83,333 Total cash ¥s 4128 F*bruary 2025 87.412 All funds are unreslricled The Nol85 on pages 1110 14 form an integral part of these accounts io-
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 8asis of preparation 1.1. These accounts Ifinancial stalemenlsl have been prepared under the historic cost convention, with items recognised al cost or transaction value. unless olhenmise slated in rhe relevant nolelsl, in accordance with.. lal The Charities and Trustee Inveslrnenl Iscoilandl Act 2005 Ibl The Charities Accounts Iscotlandl Regulations 2006 las arnendedl Icl The Financial Reporting Standard appliCae In the UK and Republic of Ireland IFRS 1021 (January 20221 Idl Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing Iheir accounls In accordance with the Financial Reporting Slandard apicale In the UK and Republic ol Ireland IFRS 102) (second edition October 20191 1.2. There hav8 been no changes lo the basis of preparation or to the previous year's accounts. 1.3. In preparing the account5, the Iruslee5 W8r8 not required lo make any judgements that would have a material effect on the numbers reported. 1.4. The charity meets the definition of a pU1C benefit entity as defined by FRS 102. 1.5. The Iruslees consider that ther8 are no malarial uncertainties about the charity s ability lo continue as a going concern. Accountlng pollcles 2.1. Fund accounting (al Unreslricled funds are those Ihal can be expended al the discretion of the Iruslees in the furtherance of the objects of the charity. Ibl Reslricled funds are those Ihal may only bo used for speryfiG PLJrpose$. Reslriclions arise when specified by the donor, or when funds are raised for specific purposes. Curr8nily, all the Gharily's funds are unrestricted. 2.2. Income Income 18 recognised and included in the Slalemeni of Financial Activities ISOFAI when the charity becomes enlilled lo the income,. receipt is probable,. and the monetary value can be measured wilh sufficient reliability. The specific bases used are as follows.. lal Donations are recognised on receipt. Ibl Investment Income is recognised when received by the charity's investment managers. Icl Incom8. which is subject lo conditions that the charity has yel lo fulfil, or which Is specifically for use in a tuturo acAJunting period, 15 Irealed as deferred inCOTlle. 2.3. Expenditure ané liabilities Liabilities are recogniseé when il Is probable that there Is a legal or constructive obligation committing th8 charity lo pay out resourcgs and the monetary value can be measured with sufficient reliability. (al Expenditure is CogniSed on the accruals basis. Ibl Grants are recognised where all conditions of the funding have been mel by the recipient. 11
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 2.4. Investment assets lal Fixed asset investments are stock exchange secufiiies professionally managed by the charity's Investment managers with a view lo capital growth anélor income generation In line with the charity's Investment policy. These investments are shown al fair value, being the mid-markel pnce on the last day of the financial year. Any realised or unrealised gains and losses are recognised In the Statement of Financial Aclivilies. Ibl Current asset Investments are dividends, Interest payments or other cash distribulions. arising from fixed asset Inveslwenls, reiVed by the charity's inveslrnenl managers pending reinveslmenl or payment lo the charity. 2.5. Oeblors lal Debtors are recognised al the selllemenl amount due. Ibl Prepayments are valued al the amount prepaid. 2.6. Cash ané cash equivalents lal C2sh held by Ihe inve51rnenl manager as part of the investment portrolio is included under fixe asset investments. Ibl Cash held by the investment manager from invéslmenl income pending reinveslmenl or payment lo the charity is induded under current asset inveslmenls. Icl Cash held by the Iruslees includes Gash In hand and bank balances repayakje on demand. 2.7. Creditors lal Creditors are recogn15ed where tha charity has a presont obligation resuliing from a pasl evenl that will prObaY result in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their seiilemenl arnounl. usually the invoice amount. Ibl Accrued charges are valued al their settlement amounl. 2.8. Financial instruments lal The charity only has financial as$els and Iinancial Iiabililies of a kind that qualify as basic financial inslrurnenls. Basic financial Inslrumenls are Initially recognised al Iransaclion value and subsequently measured at their selllemenl value. excEpl lor fixed asset Investments, which afe measured al fair v81ue. 2.g. Taxation lal The charity is not liable to corporation tax or capital gains lax on Ils charitable aclivilies. Ibl The charity Is not registered for VAT, Ihus all costs are shown Inclusive of VAT charged. Transactions with truslee5 and related partles lal No remuneration was palé lo the Iruslees during the year, or in the previous year. Ibl No expenses were reimbursed lo th8 ITUSte8s dLJring the year, or in the previous year. Icl The charity's insurance policy indudes Iruslee intlemnily insurance cover for all ils Irusle8S. Idl There were no transaction5 Wlth rolated parties during the year or in the previous year. 12
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 28 FE8RUARY 2025 Grants payable 2025 2024 Community granls.. Aberuthven Village Hall Tntst Auchleorder Community Bus GrtMJP AuchleTarder Community Spcrts and Recrealjon Auchlerarder Guides 8,500 1LI,DOO 5,135 15,000 11,260 1,000 Auchlerarder Sc(xJl Group M8ryQo&Round Playgroup Sandy Gunn Memonal Fund 1,494 381 10,000 33,635 2,000 31,135 Sl Margarets Health Cenlre (Medical equipmenll Sl Marg8rels H(Épilal (Medical equipmenl) 4,846 1,764 2,843 35,399 38,824 Previws Undra grdnl dfers wlhdrdwn 112,5001 22,899 17081 38,116 Flxed asset Investments 2025 2024 Market Valu? As al 01 March 2024 862.997 756,229 Additions IC8pi1811 Additions Ilncomel Inveslmenl management fees GainsllLossesl on revalualion As 8128 February 2025 100,000 2.375 5,919 {7,0951 65.712 927,533 16,6841 11.077 862,997 Inv•8tment Type Listed investments 803,364 124.169 927,533 758,617 104,380 862,997 Cash Origlnal cosl As 3t 28 February 2025 793,966 789,470 13-
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Current asset investments Income held by Inve51menl managers 2D25 2D24 As al 01 March 2024 15,S81 27,356 15,9191 12.3751 135,5291 130.0001 1,489 15.581 24,974 22,982 Income received Income invested Income paid lo the charity's bank accovnl at 28 February 202S Debtors 202S 2024 Prepayments Other debtor5 200 200 Cash at bank and in hand 2025 2024 Bank Deposit Al Bank Currenl AJC 41,804 40,853 80.000 7,412 Cash 676 83,333 87,412 Creditor5 2025 2024 Grant COmTnilmenls (Note 101 Other creditors 1,764 25.336 1,764 25, 336 10. Grant commitments 2025 2024 As at D1 March 2024 25,336 22.899 (46,4711 1,764 38.347 Approved durn9 the year, less withdrawn Paid during Ihe year As at 28 February 2025 38,116 (51.127) 25,336 14-