Hillcrest Foundation (SCIO) Trustees Report and Financial Statements for the year ended 31 March 2025 Charity number SC049967
Hillcrest Foundation (SCIO) Contents Page Reference a nd Administrative Details of the Charity, it5 Trustees and Advisers Trustees, report Independent auditor's report Statement of f inancial activities Balance sheet io Notes to the financial statements 11-22 The following pages do not form part of the statutory financial statements.. Charity Detailed Income and Expenditure Account and Summaries
Hillcrest Foundation (SCIO) Reference and administratlve details of the charity• Its Trustees and advisers for the year ended 31 March 2025 Trustees Company Secretary Charity registered number SC049967 Principal office l Explorer Road Dundee Tayside DD2 IEG Auditor CT Audit Limited 61 Dublin Street Edinburgh EH3 6NL
HiIlcrest Foundation (SCIO) Trustees, report for the year ended 31 March 2025 The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2025. Objectives and activities The Hillcrest Foundation was established to support the communities Hillcrest work in, through money received from Hillcrest and partner organisation5. The Foundation's objectives are; To contribute to wider, social, economic and environmental well-being. To offer tra ining, ed LAcationa I, employment and recreational opportunities. To create positive differences to the lives of other5. To strengthen links between charitable organisations, community groups and individuals within our areas of operation. Our aim is to support applications from the geographical locations Hillcrest operates in and each a pplicant must be able to demonstrate how their application/project reflects at least two of Hillcrest's values. Inclusion - we listen to other points of view, learn from best practice and engage with our customers and communities as we recognise we are stronger and can contribute more if we have shared goa15 and collective efforts, Respect- we value our staff and customers and empower them in a positive way to participate, to adapt and to be inspired to take ownership and make positive change. Excellence- we are ambitious forwhat our organisation and customers can achieve and strive to deliver the highest quality and value possible. Innovatlon we look for new ways of solving problems, strive for continuous reflection and improvement and promote others to do the same. Activities undertaken to achieve objectives The charity achieves these objectives through providing funding to applications that demonstrate that they reflect the Hillcrest Values and can quantify outcomes to reflect the Foundation's objectives. These activities are funded through donations from within Hillcrest and from external organisations.
Hillcrest Foundation (SCIO) Trustees, report {contlnued} for the year ended 31 March 2025 Review of activities The Hillcrest Foundation was set up in February 2020 a5 a subsidièry of Hillcrest Homes (Scotland) Limited to provide an opportunity to SUPPOrt external community initiatives and build on Hillcre5t's Corporate Social Responsibility. The Foundation centralises fundraising. charitable donations and gift aid within one place to streamline and centralise these activities. The Foundation will enable Hillcrest to have a focused strategy for supporting communities, including tenants and service users to enhance their lives by providing relief for those in financial hardship or other disadvantages. During the year the Hillcrest Foundation awarded funding of £232,162 12024: £180,747) to fund activities, advice Services and project5 that contribute to. The prevention of relief or povertv The advancement of health The advancement of education The advancement of citizenship or community development The funding awarded in the year included £41,402 12024: £38,523) to Hillcrest Homes IScotland} Limited, £56,770 12024: £24,511) to Hillcrest Futures Limited and £18,000 12024: Nil) to Hillcrest Enterprises Limited. In 2022-23, and raise its profile. as appointed as an Ambassador of the Foundation to help promote Future actlvltles In 2024-25 we awarded grant funding to external organisations in the communities across Hillcrest's areas of operation and we hope to be able to continue to offer funding to external organisations in the future. We also hope to increase external donations to the Foundation via community benefit clauses through procurement across Hillcrest. We also hope to bid for specific grants or post of money externally via the Foundation rather than rely on contributions generated through the Hillcrest group. Investment pollcy and performance At present, the Foundation has no investments.
Hillcrest Foundation (SCIO) Trustees, report (continued) for the year ended 31 March 2025 Financial Review Going Concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Reserves policy The trustees have established a policy for unrestricted reserves, the policy is to ma intain unrestricted reserves at a level equating to the Charity's operating costs for the following financial year, excludinE grant awards. The current level of unrestricted reserves is £74,864 and is considered adequate and in line with this policy. The principal funding sources of the charity were Hillcrest Homes {Scotlandl Limited, Hillcrest Maintenance Limited and Hillcrest Enterprises Limited. Principal risks and uncertainties The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks. I nsurable risks are a ppropriately covered. The trustees take seriously the duties a nd responsibilities placed upon them with regard to the protection of vulnerable groups. The key risk faced by the charity is the award of funding to an external organisation that does not align with Foundation's objectives or meet required criteria. Detailed due diligence checks and a comprehensive review of all applications is completed, and strict criteria adhered to before awarding grants. The key financia I risk facing the Foundation is a reduction in the levels of income received to a Ilow grant funding to external organisations. If the income levels were to reduce, the level of grants awarded would red uce in line with this. Structure• governance and management Constitution Hillcrest Foundation is a Scottish Charitable Incorporated OrEanisation, registered as a charity in Scotland and of which Hillcrest Homes (Scotland) Limited is a controlling member. The trustees are shown on page l. The trustees met during the year as necessary to administer the charity. Methods of appointment or election of Trustees The trustees were appointed in accordance with the Hillcrest group's procedures. The trustees have the power to invest mon ies of the charity not immediately req uired for the purpose of its activities in such investment and securities and to disp05e of and vary such investments and securities.
Hillcrest Foundation (SCIO) Organisotionul strurture and decision-making policies The trustees are responsible for the strate ic direction of the charity. The operation of the charity is Implemented by Hillcrest Homes. Fundraising and Grants Officer for Hillcrest Homes is the responsible officer for the Foundation. The charlty invites applications for new trustees. All new trustees are briefed on the objectives and funding mechanisms of the charity. All trustees are provided with information on charity governance. Statement of Trustees Re5ponslbllltles The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practicel. The law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment {Scotlandl Act 2005, the Charities Accounts (Scotland) Regulations 2006 las arnended) and the provisiolls of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financlal information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of fina ncial statements may differ from legislation in other jurisdictions. Approved by order of the members of the board of Trustees on 15 May 2025 and signed on their behalf by: Chairperson
Hillcrest Foundation (SCIO) Independent auditor's report to the members of Hillcrest Foundation (SCIO) Opinion We have audited the fina ncia I statements of Hillcre5t Foundation (the 'cha rity'l for the year ended 31 March 2025 which comprise of the statement of financial activities, balance sheet, statement of cashflows a nd notes to the f inancial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the fina ncia I statements: give a true and fair view of the state of the charity's affairs as at 31 March 2025, and of its incoming resource5 and application of resources, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities and Trustee Investment {Scotlandl Act 2005 and regulation 8 of the Charitie5 Accounts (Scotlandl Regulations 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the a udit of the financial statements section of our report. We a re independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the f inancial statements is a ppropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at leasttwelve months from when the financial statements are authorised for issue. Our responsibilities a nd the responsibilities of the trustees with respect to going concern a re described in the relevant sections of this report Other information The trustees are responsible for the other information. The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Hillcrest Foundation (SCIO) In connection with our audit of the financial statements, our responsibility is to read the other information a nd, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotlandl Regulations 2006 require us to report to you if, in our opinion: the information given in the financial statements is inconsistent in any material respect with the trustees, report,. or proper accounting records have not been kept; or the financial statements are not in agreement with the accounting records; or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of f inancial statements which give a true and fair view, and for such internal control as the trustees determine 15 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the Eoing concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed auditor under section 44lcl of the Charities and Trustee Investment {Scotland} Act 2005 and report to you in accordance with regulations made under those Acts. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion, Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK} will always detect a material misstatement when it exists. Misstatements can arise from fraud or error a nd are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined a bove, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. We gained an understanding of the legal and regulatory framework applicable to the charity and considered the risk of acts by the charity which were contrary to the applicable laws and regulations, including fraud.
HilIcrest Foiindation (SCIO) Our audit procedure5 were designed to respond to risks of material misstatement in the financial statements, recoEnisin8 that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. We focused on laws and regulations that could give rise to a material misstatement in the charity's financia I statements. Our tests included, but were not lim ited to: obtaining an understanding of the control environment in monitoring compliance with laws and regulations,. agreement of the financial statement disclosures to underlying supporting documentation,. enquires of the senior management and trustees; review of the board meetings throughout the period- review of legal correspondence and invoices," and review of manual adjustments made in coming to the financial statements to identify any unusual adjustments. Because of the inherent limitations of on audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financia I statements ornon-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is a Iso greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilitie5 for the audit of the financial statements is located on the Financial Reporting Council's webslte at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotlandl Regulations 2006. Our audit work has been undertaken so that we might State to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Senior Statutory Auditor) For and on behalf of CT Audit Llmited Chartered Accountants & Statutory Auditor 61 Dublin Street Edinburgh EH3 6NL
Hillcrest Follndation (SCIO) Statement of financial activities for the year ended 31 March 2025 2025 2025 Unrestricted Restricted Funds Funds 2025 2024 2024 Total Unrestricted Restricted Funds Funds Funds 2024 Total Funds Note Income Donations and legacies Other trading activities Investments 211,137 1,016 212,153 145,164 145,164 11,120 11,120 2,057 2,057 1,932 1,932 Total income 224,314 1,016 225,330 147,096 147,096 Expenditure on Raising funds Charitable activities 516 2,580 232,162 2,580 232,162 4,986 186,055 4,986 186,055 Total expenditure 234,742 234,742 191,041 191,041 Net lexpenditure)/ income 110,4281 1,016 19,4121 {43,945} 143,9451 Net movement In funds (10,428) 1,016 {9,412) {43,945} {43,945) ReconciSiation of funds: Total funds brought forward Transfers between funds Net movement in funds 86,478 1,014 87,492 130,423 1,014 131,437 11,186) 1,186 110,4281 1,016 19,4121 143,9451 143,9451 Total funds carried forward 74,864 3,216 78.080 86,478 1,014 87,492 The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 11 to 22 form part of these financial statements.
Hillcrest Foundation (SCIO) Balance sheet at 31 March 2025 2025 2024 Note Current assets: Debtors Cash at bank and in hand 2,240 81,840 112,772 84,080 112,772 Creditors: Amounts falling due within one year {6,0001 (25,280) Net current assets 78,080 87,492 Total assets less current Ilabilities 78,080 87,492 Total net assets 78.080 87,492 Charity Funds Restricted funds Unrestricted Funds io io 3,216 74,865 1,014 86,478 Total funds io 78.080 87,492 The financial statements were approved and authorised for issue by the Trustees on 15 May 2025 and ned on their Chairperson The notes on pages 11 to 22 form part of these accounts. 10
Hillcrest Foundation (SCIO) Notes to the financial statements for the year ended 31 March 2025 (a) General information Hillcrest Foundation ISCIOI is a Scott15h charitable incorporated organisation {charity number SC049967), incorporated on 19 February 2020. The address of the registered office is given on page l of these fina ncial statements. The financial statements a re prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. (b) Basis of preparation of financlal statements The financial statements have been prepared in accordance with the Charities SORP {FRS 1021- 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 IFRS 1021 (effective l January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 las amended). H illcrest Foundation1SCIOI meets the definition of a public benef it entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. (c) Income All 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. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the year is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the year in which it Is receivable and to the extent the goods have been provided or on completion of the service. {d) Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benef it to a third party, it is proba ble that a tra nsfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in underta king each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Hillcrest Foundation (SCIO) Notes to the financial statements (continued) for the year ended 31 March 2025 (d) Expenditure (continued) Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditiona I, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment but not accrued as expenditure. (e) Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. (f) Liabilities and provisions Lia bilities are recognised when there 15 an obligation at the Balance Sheet date as a result of a past event, it is proba ble that a tra nsfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present va lue of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a fina nce cost. (g} Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify a5 basic financial instruments. Basic f inancial instruments are initia Ily 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. (h) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financia I statements. Investment income, gains and losses are allocated to the appropriate fund. 12
Hillcrest Foundation (SCIO) Notes to the accounts (continued) for the year ended 31 March 2025 {1) Going Concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 2 Income from donations and legacies Unrestricted funds 2025 Restricted Total funds funds 2025 2025 Donations Hillcrest Homes (Scotland) Limited 2024/25 donation H illcrest Enterprises Limited donations Hillcrest Maintenance Limited donations Hillcrest Futures Limited donations Hillcrest Homes (Scotlandl Limited staff donation H illcrest Enterprises Limited Hillcrest Maintenance Limited 10,000 10,000 staff 24 24 staff 48 48 staff 944 944 loo,000 50,000 100,000 50,000 2,192 External donations External organisations 2,193 48,944 48 ,944 Total 211,137 145,164 1,016 13
Hillcrest Foundation (SCIO) Notes to the accounts (continued) for the year ended 31 March 2025 2 Income from donations and legacies (continued) Unrestricted funds 2024 Restricted Total funds funds 2024 2024 Donations H illcrest Home5 (Scotla ndl Limited 2023/24 donation Hillcrest Enterprises Lim ited donations Hillcrest Maintenance Limited donations Hillcrest Fijtures Limited donations H illcrest Homes (Scotla ndl Limited staff donation Hillcrest Enterprises Lim ited Hillcrest Maintenance Limited 10,000 10,000 staff 46 46 staff 66 66 staff 12 12 1,062 1,062 loo,000 10,000 loo,000 10,000 Gift Aid External donations External organisations 1,699 10,778 11,501 1,699 10,778 11,501 Total 145,164 145,164 Other trading activities Income Unrestricted Unrestricted funds funds 2025 2024 Fundraising events 11,120 Investment Income Unrestricted Unrestricted funds funds 2025 2024 Bank interest 2,057 1,932 14
Hillcrest Foundation (SCIO) Notes to the accounts (continued) for the year ended 31 March 2025 Analysis of grants Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Grants paid out 225,384 225,384 Analysis of grants Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Grants paid out 180,747 180,747 The Charity has made the following grants to institutions which were for the following community projects: 2025 2024 Unrestricted Grants Hillcrest Homes (Scotlandl Limited - Starter Packs Hillcrest Homes {ScotlandlLimited- Helping Households Fund Hillcrest Homes (Scotland) Limited-Tenant hardship Fund Hillcrest Homes (Scotlandl Lim ited All other gra nts individually under £10,000 15,000 10,000 10,000 6,402 17,500 21,023 Sub total- Hillcrest Homes (Scotland) Limited 41,402 38,523 Hillcrest Futures Limited- Community Connectors Hillcrest Futures Limited - The Beacon Hillcrest Futures Limited - Hillcrest Futures Hillcrest Futures Limited - Activity Hub H illcrest Futures Limited All other grants individually under £10,000 20,000 10,000 10,000 10,000 6,770 24,511 Sub-total- Hillcrest Futures Limited 56,770 24,511 H illcrest Enterprises Limited - HELP H illcre5t Enterprises Limited - Enterprises Social Wellbeing 8,000 10,000 Sub-total - Hillcrest Enterprises Limited 18,000 15
Hillcrest Foundation (SCIO) Notes to the accounts (continued) for the year ended 31 March 2025 5 Analysis of Grants {continued) Dundee Bairns & Help for Kids- Beds for Bairns External organisations - All other grants individually below £10,000 39,500 69,712 20,000 97,713 Sub-total- External organisations Total 109 212 225,384 117 713 180,747 The grants were awarded to support projects as follows'.- The prevention of relief or poverty The advancement of health The advancement of education The advancement of citizenship or community development All grants payable by the Foundation require to be spent within 12 months of being awarded or the balance is repayable. Included in grants repayable analysis is £4,148 of grants awarded to projects within Hillcrest homes which were returned and £3,165 of returned grants from Hillcrest Futures. 6 Direct costs 2025 2024 Governance Costs Audit fee 6,720 5,280 Support Costs Trustees expense5 Bank charges 18 40 29 6,778 5,309 16
Hillcrest Foundation (SCIO) Notes to the accounts (contlnued) for the year ended 31 March 2025 Raising Funds 2025 2024 Kiltwalk costs Banochry Beast costs 2,008 572 2,932 2,054 2,580 4,986 Auditor's remuneration 2025 2024 Fees payable to the Charity's auditor for the audit of the Charity's annual accounts 6,720 5,280 Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits12024- nill. During the year ended 31 March 2025, Trustee expenses of £1812024- £nill have been incurred. io Creditors 2025 2024 Amounts falling due within one year.. Accruals 6,000 25,280 6,000 25,280 17
Hillcrest Foundation (SCIO) Notes to the accounts (continued) for the year ended 31 March 2025 li Reserves Balance at l April 2024 Balance at 31 March 2025 Income Expenditure Transfer Unrestricted Restricted - Staff donations 86,478 1,014 224,314 1,016 {234,742) 11, 1861 1,186 74,864 3,216 Total funds 87,492 225,330 236,982 78,080 Balance at l April 2023 Balance at 31 March 2024 Income Expenditure Unrestricted Restricted - Staff donations 130,423 1,014 147,096 1191,0411 86,478 1,014 Total funds 131,437 147,096 {191,041) 87,492 Transfer of funds from unrestricted to restricted for staff donations made in the prior year. Name of unrestricted fund Unrestricted Fund Description, nature & purpose of the fund Are expendable at the discretion of the Trustees in furtherance of the objects of H illcrest Foundation. Restricted Fund - Staff donations Donations from Hillcre5t staff members to be awarded to external charities. 12 Analysis of net assets between funds- current year Unrestricted Restricted Total Cash at bank and in hand Debtors Creditors due within one year 80,826 2,240 (6,000) 1,014 81,840 2,240 {6,0001 Total 77,066 1,014 78,080 18
Hillcrest Foundation (SCIO) Notes to the accounts (continued) for the year ended 31 March 2025 13 Analys15 of net assets between funds- prlor year Unrestricted Restrlcted Total Cash at bank and in hand Debtors Creditors due within one year 111,758 1,014 112,772 (25,280) (25,2801 Total 86,478 1,014 87.492 14 Ultlmate controlllng Interest The controlling member is Hillcrest Homes (Scotlandl Limited, incorporated in the United Kingdom, (registration no. 1603 R{S)l and a registered Scottish charity Ino SC0068091. Copies of the Eroup financial Statements can be obtained from l Explorer Road, Dundee, DD2 IEG. Hillcrest Homes Iscotlandl Limited is a Registered Social Land lord. The principal activities of the Group are the provision of high-quality rented accommodation at affordable rents for those in housing need and the provision of care and support services for those in need due to age, Infirmity, dis3 bility or handicap. 15 Financial instruments 2025 2024 Financial asset5 Financial assets measured at fair value through income and expenditure 81,840 112,772 Financial assets measured at fair value through income and expenditure comprise of bank can cash held in hand. 16 Related party transactions The board of trustees were made up of 5 members over the year which are connected to other Hillcrest Group companies and organisations. Below is a table which sets out any connections the current trustees have. Hillcrest Ma intenance Limited - Director Hillcrest Futures Limited - Director Hillcrest Homes Limited Director Hillcrest Enterprises Limited - Director Hillcrest Homes Limited Employee 19
Hillcrest Foundation (SCIO) Notes to the accounts {continued) for the year ended 31 March 2025 16 Related parties (continued) Trustees are required to complete an annual declaration of interest form and at the start of all meetings and declarations of interest should be made. There are no employees within the company. The Trustees are the key management personnel who make the day to day decisions. During the period the charity received donations from connected Hillcrest Group companies and organisations. These are set out in the table below. These donations were agreed by the relevant board members and all transactions were considered to be at arms length. 2025 2024 Hillcrest Homes (Scotla nd) Limited Hillcrest Maintenance Limited Hillcrest Futures Limited Hillcrest Enterprises Lim ited 10,944 50,048 11,062 10,066 12 100 046 121,186 100 024 161,016 H illcrest Enterprises Limited, Hillcrest Maintena nce Limited and Hillcrest Futures Limited are all subsidiaries of Hillcrest Homes1Scotlandl Limited. H illcrest Homes IScotland} Limited is the controlling member of the charity. Further to donations being received donations were made from the charity back to several group companies/orga nisations to aid projects. Applications for the gra nts were made in line with the charities policies and these were discussed at a board meeting where projects were approved. All the projects are detailed in note 4. Below is a summary of the total grants that were paid to each organisation. 2025 2024 Hillcrest Homes (Scotlandl Limited H illcrest Enterprises Limited Hillcrest Futures Limited 41,402 18,000 38,523 116,172 63,034 20
Hillcrest Foundation (SCIO) The following page does not form part of the statutory accounts. Income and expenditure account for the year ended 31 March 2025 Year to 31 March 2025 Period to 31 March 2024 Income Donations and legacies Fundra ising Interest received 211,137 11,120 2,057 145,164 1,932 Gross income in the reporting year 225,330 147,096 Less: Expenditure Audit fee Trustees expenses Bank charge Miscellaneous expenses Grants paid out 6,720 18 40 2,580 225,384 5,280 29 4,985 180,747 Total Expenditure 234,742 191,041 Net income for the reporting year (10,428) {43,945) Surplus/{loss) for the reporting year and carried forward (10,428) (43,945) The notes on pages 11 to 21 form part of these financial statements. 21