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REGISTERED CHARITY NUMBER SC052857 REGISTERED COMPANY NUMBER CSOO6530
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 May 2025 Project Esperanza SCIO
Docusign Envelope ID: 5FF9C087-5ABB-4C53-91B9-57D2EF5DC95F
Project Esperanza SCIO CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 May 2025
| Page | |
|---|---|
| Report of the Trustees | 3 |
| Report of the Independent Examiner | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 |
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Project Esperanza SCIO
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 May 2025
The trustees who are also the directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2025. The trustees have adopted the provisions of the 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 (FRS102) (effective 1 January 2015).
OBJECTIVES AND ACTIVITIES
The Charity was granted charitable status on in December 2021.
Objectives and aims
The aim of the charity is the advancement of citizenship or community development, the advancement of the arts, heritage, culture or science, the promotion of equality and diversity and the relief of those in need by reason of age, illhealth, disability, financial hardship or other disadvantage.
We are very proud of our services and the fact our offering continues to diversify to support those who need us most.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The charity is a womanist initiative based in North Edinburgh, dedicated to offering practical, emotional, and integration support primarily to families of African heritage while also supporting a broad spectrum of individuals from multi-ethnic backgrounds. Our work is rooted in promoting inclusion, empowerment, and cultural preservation and we have had a remarkable track record since 2021.
Our Vision is to advance citizenship through integration services and activities, alleviate needs arising from age, ill health, disability, financial hardship, and other disadvantages, and promote African culture and heritage through creative, nutrition, beauty, and wellness arts
Our Mission
We are committed to making a positive impact through empowerment and inclusion, inspiring opportunities for action that foster an unbiased environment. This enables individuals to build meaningful lives and positive relationships within the wider community.
Achievements
We have a track record of collaborating with partners and professionals who prioritise diversity, inclusion, and the elimination of racial oppression. Our efforts aim to advance racial harmony in the community by encouraging acceptance of newly arrived families and aiding their integration into the Edinburgh community. Our role has been to advocate for social change for Black and African Communities throughout Scotland and we have had the privilege of earning respect on the Third sector landscape in that regard. This annual report sets out our successes in supporting communities and the workforce across Scotland. It evidences our value on the systems change arena in Scotland.
Since we started to date, we continue to work alongside people with lived experience of racism, racial and migration trauma, NRPF, homelessness, restitution, education inequalities, mental health support and inequalities, poverty and food insecurity, social isolation/disconnection, income inequalities and chronic health. These experiences have provided information and learning opportunities for us to navigate the cost-of-living crisis that is evidenced in the increase in use of foodbanks, pantries and community meals; as well as challenge unsafe, hostile and discriminatory work practices to influence systems and policy change. Since we embarked on our mission, we have also explored health inequalities in women’s health, with particular focus on Black maternal Health Experiences, as well as whole family wellbeing.
Throughout 2023 to 2025 we have focused on bias in the child protection system working with Children and families that have experienced The Scottish Care System. In all areas of our work, we have always questioned systems, challenged inequalities, challenged racism and addressed racial trauma; and we have emphasised greatly on culturally nuanced and trauma-informed support across all services within Project Esperanza. That said we have also chosen our partnerships by ensuring that the services we work with are aligned with how we work internally as an organisation to address the intersections of Deprivation and The Migrant Experience.
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We’ve grown significantly and quickly since we first started our work. Despite the hostile political climate in this country and the lack of sustainable funding within the third sector, the pressures for the people continue to escalate and the demand for our support continues to increase, it must be noted that we are a maturing organisation with all of the benefits and challenges that come with that.
We have produced a more detailed Annual Report which can be obtained by request.
Future Plans
The next three years will be dedicated to empowering Black African communities through a vision that depicts Black individuals and communities thrive, free from discrimination and systemic barriers and a mission that empowers Black communities through education and community development.
FINANCIAL REVIEW
Financial overview
Overall reserves have reduced by £53,187 during the year to 31 May 2025. (2024: Increased by £137,637) Total income in the year was £168,912 (2024: £263,592) a decrease on the prior year of £94,680 (2024: an increase on the prior year of £204,103). Unrestricted reserves increased from £397 to £35,352
Reserves policy
The Trustees aim to maintain a reserve of unrestricted funds, which is sufficient to meet 3 months' running costs for the charity, with an aspiration to hold 6 months' running costs.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
At 31 May 2025, unrestricted reserves totalled £35,342 ( 2024: £397).
STRUCTURE, GOVERNANACE AND MANAGEMENT
Governing document
The registered Company number is CS006530 and Registered Charity number is SC052857 The Charity is a Scottish Charitable Incorporated Organisation (SCIO) registered on 27 September 2023 .
The Trustees who served during the year and up to the date of signature of the financial statements were:
Tijan Jasseh Maria Sena (resigned in December 2024) Judith Saidi Mickey Darenvil (resigned in December 2024)
The Trustees of the charity meet regularly to discuss and review the progress of the charity. Trustees will be elected at the annual general meeting.
Independent Examiner
Sheila Fazal, CA Social Enterprise Accountancy Scotland CIC Clyde Offices, 2[nd] Floor, 48 West George Street, Glasgow, G2 1BP
Key management personnel
Victoria Nyanga-Ndiaye is the CEO
ON BEHALF OF THE BOARD ON 2 April 2026
GEE12438856DA418...
Tijan Jasseh Director
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Examiner’s Report to the Trustees of Project Esperanza SCIO
I report on the accounts of the charity for the year ended 31st May 2025 which are set out on pages 6 to 12
Respective responsibilities of trustees and examiner
The charity’s trustees (who are also the directors of the company for the purposes of company law) 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 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 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.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. 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 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention which gives me reasonable cause to believe
1. that in any material respect the requirements:
a) to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
b) to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed:
Name: Sheila Fazal F556EFD9032446B... Relevant Professional qualification/professional body: ICAS
Address: Social Enterprise Accountancy Scotland CIC, Clyde Offices, 2nd Floor, 48 West George Street, Glasgow, G2 1BP
Date: 2 April 2026
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Project Esperanza SCIO STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 May 2025
| Notes INCOME FROM Donations and legacies 2 Charitable activities 3 Other income Total EXPENDITURE ON Raising funds Charitable activities 4 Other 5 Total NET INCOME/(EXPENDITURE) Transfer between funds 13 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward Prior year adjustment 2023 14 TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds Restricted funds 2025 Total funds 2024 Total funds £ £ £ £ 84,665 84,247 168,912 262,512 0 0 0 1,080 0 0 0 0 |
|---|---|
| 84,665 84,247 168,912 263,592 0 157,988 64,111 222,099 124,475 3,849 1,500 |
|
| 161,837 64,111 222,099 125,975 |
|
| -77,172 20,136 -53,187 137,617 112,117 -112,117 0 0 |
|
| 34,945 -91,981 -53,187 137,617 397 147,416 147,813 11,196 -1,000 |
|
| 35,342 55,435 90,777 147,813 |
The notes form part of these financial statements
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Project Esperanza SCIO BALANCE SHEET FOR THE YEAR ENDED 31 May 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 9 | 9,708 | 1,286 |
| CURRENT ASSETS | |||
| Stock | 0 | 0 | |
| Debtors | 10 | 0 | 0 |
| Cash at bank and in hand | 84,785 | 151,285 | |
| 84,785 | 151,285 | ||
| CREDITORS | |||
| Amounts falling due within one year | 11 | 3,716 | 4,758 |
| ~~oe’~~ | ~~oe’~~ | ||
| NET CURRENT ASSETS | 81,069 ~~oe’~~ |
146,527 ~~oe’~~ |
|
| ~~oe’~~ | ~~oe’~~ | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 90,777 ~~oe’~~ |
147,813 ~~oe’~~ |
|
| NET ASSETS | 90,777 | 147,813 | |
| FUNDS | |||
| Unrestricted funds | 35,342 | 397 | |
| Restricted funds - prior year adjustments | 14 | -2,003 | |
| Restricted funds | 55,435 | 55,435 | |
| TOTAL FUNDS | 90,777 | 53,829 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on 2 April 2026 and were signed on its behalf by:
G Tijan Jasseh EE12438856DA418... Trustee
The notes form part of these financial statements
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Meeting Centres Scotland NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 May 2025
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities and Trustee Investment (Scotland) Act 2005 and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are presented in Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis, which the trustees believe to be appropriate for the reasons set out in the Trustee's Report. There are no material uncertainties about the charity's ability to continue.
Critical accounting judgements and key sources of estimation uncertainty
The company considers on an annual basis the judgements that are made by management when applying significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The trustees consider there are no such significant judgements.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable activities
Costs of charitable activities are incurred on the charity's core operations, including support costs and costs relating to the governance of the charity.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33.33% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost
Fixed assets are included in the balance sheet at cost less accumulated depreciation and impairment.
No assets with a gross value of less than £100 are capitalised. These items have been treated as expenditure in the Statement of Financial Activities.
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Impairment of tangible fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. When the carrying value exceeds its recoverable amount, an impairment loss is recognised in the profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds
They can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds
They can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Transfers between funds
With regard to the use of both restricted and designated funds, the release represents an amount which matches the expenditure incurred in the year in respect of the relevant purpose of each fund. Transfers are made between funds for identified internal transactions such as staff training where funds are moved from unrestricted core income to a designated training fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Financial instruments
The charity only enters into financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Debt instruments that are payable or receivable within one year. Typically trade debtors or trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Cash and cash equivalent includes cash in hand, deposits held at call with banks and other financial institutions.
Leasing commitments
Rentals payable under operating leases are charged to the Statement of Financial Activities as they are incurred over the term of the lease.
Pension commitments
The charity operates a defined contribution pension scheme . The assets of the scheme are held separately from those of the company in an independently administered fund. The amount charged against the Statement of Financial Activities represents the contributions payable to the scheme in respect of the accounting period.
Donated assets
Donated assets received by the charity are capitalised and recognised in the Statement of Financial Activities in the year they are received.
The basis of valuation is the price the charity estimates it would pay in the open market for goods of equivalent utility.
VAT
The company is not registered for VAT. Expenses are therefore shown inclusive of VAT in the financial statements.
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Project Esperanza SCIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 May 2025
| 2 DONATIONS AND LEGACIES Donations Fundraising Legacies Grants Grants received, included in the above are as follows: Capital City Partnership Muirhead Housing National Lottery The Robertson Trust National Gallery The Corra Foundation EVOC Edinburgh City Council One City Trust Arnold Clark Foundation Scotland RS Macdonald Miscellaneous Grants 3 INCOME FROM CHARITABLE ACTIVITIES Activity - Supporting Integration of African Community 4 CHARITABLE ACTIVITIES COSTS Project Delivery Costs Wages, staff and sub-contractor costs Travel expenditure Storage rent and venue hire Vehicle insurance, repairs and other vehicle costs Subsistence Printing Consultancy Computer software costs Telephone Depreciation General expenses |
2025 2024 £ £ 45 4,190 0 80 0 0 168,867 258,242 |
|---|---|
| 168,912 262,512 |
|
| 2025 2024 £ £ 15,000 20,000 0 0 56,047 0 0 22,500 0 0 83,000 187,325 0 10,760 5,000 11257 0 6000 2,500 0 5,700 0 0 0 1,620 400 |
|
| 168,867 258,242 |
|
| 2025 2024 £ £ 0 1,080 |
|
| 2025 2024 £ £ 32,560 81,640 130,689 42,193 5,108 0 10,765 0 2,637 0 1,936 0 4,069 0 20,659 0 4,119 0 3,286 0 3,945 642 2,326 0 |
|
| 222,099 124,475 |
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| 5 GOVERNANCE COSTS Legal fees Accounting software, payroll and accountancy costs |
2025 2024 £ £ 2,135 0 1,714 1,500 |
|---|---|
| 3,849 1,500 |
6 RELATED PARTY TRANSACTIONS
Trustee expenses
During the year there was an amount of £160 for which trustees were reimbursed for expenses. and one trustee was paid £600 for delivering services ( 2024: £nil )
| 7 STAFF COSTS Wages and salaries Other pension costs The average monthly number of employees during the year was a follows: Administrative Management |
2025 2024 £ £ 118,464 42,099 1,709 94 |
|---|---|
| 120,173 42,193 |
|
| 5 3 1 1 |
|
| 6 4 |
In the year to 31 May 2025, no salaries above £60,000 were paid. ( 2024: None)
8 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME FROM Donations and legacies Grants Fundraising activities Charitable activities Other income Total Income EXPENDITURE ON Fundraising Charitable activities Governance costs Total Expenditure NET INCOME/(EXPENDITURE) Prior year adjustments Net movement in funds Transfer between funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds Restricted funds Total funds £ £ £ 4,190 0 4,190 0 258,242 258,242 80 0 80 1,080 0 1,080 0 |
|---|---|
| 5,350 258,242 263,592 0 0 0 4,780 119,695 124,475 1500 0 1,500 |
|
| 6,280 119,695 125,975 |
|
| -930 138,547 137,617 -1,000 0 -1,000 |
|
| -1,930 138,547 136,617 2,302 -2,302 0 25 11,171 11,196 |
|
| 397 147,416 147,813 |
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| **9 ** | TANGIBLE FIXED ASSETS | Computer Equipment |
Motor Vehicles |
TOTAL | TOTAL | |
|---|---|---|---|---|---|---|
| COST | £ | £ | £ | |||
| At 1 June 2024 | 1,928 | 0 | 1,928 | |||
| Additions | 2,532 | 9,835 | 12,367 | |||
| Disposals | 0 | 0 | 0 | |||
| At 31 May 2025 | 4,460 | 9,835 | 14,295 | |||
| DEPRECIATION | ||||||
| At 1 June 2024 | 642 | 0 | 642 | |||
| Charge for the year | 1,486 | 2,459 | 3,945 | |||
| Eliminated on disposal | 0 | 0 | 0 | |||
| At 31 May 2025 | 2,128 | 2,459 | 4,587 | |||
| NET BOOK VALUE | ||||||
| At 31 May 2025 | 2,332 | 7,376 | 9,708 | |||
| At 31 May 2024 | 1,286 | 0 | 1,286 | |||
| 2025 | 2024 | |||||
| **10 ** | DEBTORS | £ | £ | |||
| Other debtors | 0 | 0 | ||||
| Prepayments | 0 | 0 | ||||
| 0 | 0 | |||||
| 11 | CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | 2025 | 2024 | |||
| £ | £ | |||||
| Trade creditors | 0 | 0 | ||||
| Social security and other taxes | 1,415 | 3,038 | ||||
| Pension creditor | 312 | 0 | ||||
| Other creditors | 489 | 220 | ||||
| Accruals and deferred income | 1,500 | 1,500 | ||||
| 3,716 | 4,758 | |||||
| **12 ** | ANALYSIS OF NET ASSETS BETWEEN FUNDS | Unrestricted funds |
Restricted funds |
2025 Total funds |
2024 Total funds |
|
| £ | £ | £ | £ | |||
| Fixed assets | 1,723 | 7,985 | 9,708 | 1,286 | ||
| Current assets | 37,335 | 47,450 | 84,785 | 151,285 | ||
| Current liabilities | -3,716 | 0 | -3,716 | -4,758 | ||
| 35,342 | 55,435 | 90,777 | 147,813 |
13 TRANSFER OF FUNDS
Funds balances transferred result from reclassification of grants from restricted to unrestricted from previous years, using legal definitions.
14 PRIOR YEAR ADJUSTMENT
As previous year was prepared on a cash basis, need to restate prior year figures to include accruals Net Book Value at 31 May 2023 restated for prior year
| Increased accruals for accounting fee Reducing Reserves due to increase in expenses by |
£1,000 |
|---|---|
| £1,000 |
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