REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR SCOULER SUPPORT FUND SCIO Charity No SC051604
SCOULER SUPPORT FUND SCIO CONTENTS OF THE FINANCIAL STATEMENTS For the ear ended 31 Mareh 2025 Page 1-3. Report of the Trustees Page 4. Independent Examiner's report Page 5. Statement of Financial Activities Page 6. Balance Sheet Pag¢ 7-10 Not¢s to the Financial Statsments
Page l. SCOULER SUPPORT FUND SCIO REPORT OF THE TRUSTEES & MANAGEMENT COMMirrEE For the ear ended 31 March 2025 Th¢ Trustees present their report and un-audited financial statements for the year ended 31 March 2025. REFERENCE & ADMINISTRATIVE INFORMATION CHAIUTY NAME: Scouler Support SCIO CHARITY REGISTRATION NUMBER SC051604 CHARITY ADDRESS: TRUSTEES: INDEPENDENT Ex4ElL. Sheilagh C Rennie MAAT Anvil House Port Charlotte Isle of Islay PA48 BANKERS: Bank of Scotland Shore Street Bowmore tsle of Islay PA43 7LB
Page 2. SCOULER SUPPORT FUND SCIO REPORT OF TRUSTEES For the ear ended 31 Mareh 2025 Structur4 GoverDance and Management Governing Doeument The organisation's governing document is constitution. Structure Recruitment & Appointment of Trnstees Trustees are elected and appointed at the AGM. There must be a minimum of 3 Trustees with a maximum of 8. Trustee Induction & Training Most new Trustees are familiar with the practical work of the charity. by living within the local community. Organi8atlonAI Structure The Trustees manage the Charity. OrgAni8atlon's Prinelpal Objectives & Aetivitles To advance education: and To prevent or relieve w)verty in such ways as the trustees from time to time consider appropriate - in all cases for the benefit of persons aged 16 or over who are normally resident on the Island of Islay Main Activities The Charity awards grants to students and businesses dependent upon the priority of the award round. Achievements aDd perfornianee The Charity received a donation of £1 0,000 and awarded 6 grants to individuals of varied amounts each to pay towards equipmenL training. accommodation and travel. The priority in the year was agriculture, land managemenL working with animals and land-based courses. All 6 applicants were successful.
SCOULER SUPPORT FUND SCI() RF.PORT OF TRIISTF.FS For the vear ended .11 IlqarLh 2025 Principle Fundino %ource5 The charily received I donation of £1 0.000. Financial Rei'iew 'rhe Trust Inadc a IiLneral surplus of£? 8)6. To1 lunds held at 31 March 202) H'ere £13,8J l of ivhich £1 9.856 i*ere general tunds and £975 er¢ rcstriLl¢d. Resen'e Policy The Trustees are M'orking to build a rcsern'c fund 'hICh .111 covLr the independent cxaminaiion fees as they haN'e verv little expenses oul :1th our gpr(int awards. Inl'estment Polic). 'I"he I"ruslees hai"e considered the Tnost appropriate polici, for ini'esting funds ld hold all funds in a currenl account duc to the nature ol the sliort tenn Lhe)i are held LhLre for. Plans for Futurc periods The charil%' plans on Distributing the £ l 0.000 receii'cd dependLnl upon appl ications wilh a maximum of £2.000 to ihe successtiil applicants. Structure & Governance The charit). is controlled by its governing documcnl, a constitution and is a SCIO. The SCIO, ,$ fonned on 2?n¢J Fcbruary ?022. The Truslees who were appointed upon forniation and served during the >"car ere I lic I rusieLS hai'L b¢¢n appoinled for their N:ari¢d experti.se and are responsible for ihe running ol.the charil). This Truslees report .aS approN"ed b!, the board of Trustees on . 2J.IL.I L.3..... Signc Dated.
Page 4. SCOULER SUPPORT FUNI) SCII) INDEPENDENI. EL4.TrIINER'S REPORT For "ear ended 31 March 2025 Independent Examiner's Report lo the TTu%lees ofscouler support Fund SCIO. E Teport on the accounts of tl)¢ chariiy for yLar cndcd 31 March •0?5 whiLh are sel Out on pages 6 to 15. RLbspeclive Responsibilities of Trustees and F.xaminer Tlic Cliarity's '1'riisle¢s arc re%poi)sible for ilie prepdration of the accouiits iii ac¢ordai)cc willi il)c tenns of tlie Cliarilies aiid Trustees InvLslmcnl (SLoiland) Act ?005 and Chariiies Accounts (Sccfriland) Rebpulations ?006 (as aniended). 'I'hc charil) I rust¢¢s considL'r that ihe audit requirements of section l O ( l ) (a) to (c) of the ?006 Accouiits Rcgulalioiis does not appll,. It is m) rLspoiisibilili' to ¢.xaill ine ili¢ acLI)iint5 under sectioi) 44 (1) (L) ol. diL' ALi ai)d lo slate iiliL'iher partiLul¢W Inallcrs liavc Lonie to my att¢iitioii. Basis of independent examiner's stalemont My examination is Larried out under Regulation I I nl. Ihe ?O()C) Regiulations. An exiiminillion includes Il revieiv of the accoiiiiliIig? rixords kLpt b). tlic ch(IritJ. a comparison of the accounls presented in thos¢ reLords. It al.$0 inc liides coiisiilcratioii of Iqliy iJnLi%iial ileiiis or disLIL)siifL'S iiI IIIL. dLLOlllIt5. aiid sL'L'k"s cxplaiidlions froin the Trusiec.s conecrniiig nl. siich In11 Ilcrs. The proccdiircs ui)derl<ikei) do Iiot provide all Ihc cvidcnce Ihdl ilould be reqiiired in an audil. and consequently I do n()i express an aiidil opiniaii on Ihe vieiv givLii bi, Ihc accounls. Indepcndcnt F.xaminer's Statement In iliL course of iiij. ex7)111a1ioI1 iio niattcr lias coni¢ lo in), att¢iition l. Wllich bij%'es me re&sonable cause to bclievc ihat in any inatcrial rcspcct tlic rcquircincnls.. to kccp ac¥oiiiils iii aLLorddiiLC iviill SeLlion 44 (1) {a) of ilie ?005 Acl ai)d Regulalioii 4 of ihc 2006 ALiounis K¢bTulalions. and to prepare accounts ivhich accord ii'iih tli¢ accounting records aiid con)ply wilh Seclioii 8 ofihe ?006 Accoiints Regiilations have noi bccn mel. or 2. To which in m), opinion. attcntion should be drawii in order to enablc a prop¢r undersiandiiigF of the accouiit5 to be reciched. Date..
Page 5. SCOULER SUPPORT FUND SCIO STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT For the year ended 31 March 2025 Total Funds 2025 Total Funds 2024 Notes Unrestricted Restricted Funds Funds INCOMING RESOURCES ID¢ome from: Donations and l¢gacies 10,000 10,000 11,000 TOTAL INCOMING RESOURCES 10,000 10,000 11,000 RESOURCES EXPENDED Charitable Activities 7.144 7.144 10.025 TOTAL RESOURCES EXPENDED 7.144 7.144 10,025 NET INCOMING RESOURCES BEFORE TIL4NSFERS 2.856 2.856 975 TRANSFERS NET llYCOMING RESOURCES BEFORE OTHER RECOGNISED GAINS AND LOSSES 2,856 2,856 975 TOTAL FUNDS AT 31 MARCH 2024 i 0,000 975 10,975 10,000 NET MOVEMENT IN FUNDS 2,856 2,856 975 TOTAL FUNDS AT 31 MARCH 2025 12.856 975 13.831 10.975 The statement of financial activities includes all gains and losses in the year. All incoming resources and resources ¢xpended derive from Continuing activities The notes on pages 7 to l O forni part of these financial statements
Pagc 6. SCOULER SLPPORT FLND SCIO BALANCE SHEET As at 31 Mi arch 2025 Note 2025 2024 CURRENT ASSETS Cash at bank and in hand 10.975 10,975 13,8il CREDITORS: Amounts falling due within one vear li.831 113.831 111.975 £ l O.l)75 NET ASSETS REPRESENTED BY: Reslriclcd tunds Unrestrict¢d and dcsignated funds 975 1?.856 975 i 0.000 TOTAL FUNDS £13.83] £10.975 The Finaiicial Siatements on pages 5 to 6 ivere approed by th¢ I'rustCL'5 on 2LI121 Lf Th¢ notes on pag¢$ 7 to l O forni part of th¢5e financial 51atcments
Page 7. SCOULER SUPPORT FUND SCIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025 I ACCOUNTING POLICILS The principal accounting policies are summarised below. The accounting policies have been applied onsistently throughout the year. 1.1 Basis of accounting The accounts have been prepared in accordance with the Tntsvs Deed of Tn and Constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS 102)" (as amended for )unting periods commencing from l January 2016). The Trust is a Public Benefit Entity as defined by FRS 102. Th¢ charity h&8 taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The accounts a prepared in sterlin& which is the funclional ¢urr¢ncy of the Charity. Monetary amounts in the financial statements are rounded to the nearest £. The a¢counts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include inveslm¢nt properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng Concern At th¢ time of approving the accounts the Trustees have a reasonable expectation that the SCIO has adequate resources to continue in operational existence for the foreseeable future. Thus the Truste¢s continue lo adopt the going concern basis of accounting in preparin8 the accounts. IJ Charitable Funds Unrestricted funds are available for use at the discretion of the tntstees in furtherance of the general obje¢tiv¢s of the charity Designated funds are unrestricted funds earniarked by the Management Committee for particular pury)oses. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the ternis of an appeal
Page 8. SCOULER SUPPORT FUND SCIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025 1.4 Incomlng Resources Income is recognised when the Trust is legally entitled to it after any perforniance conditions have been m¢L the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless perforniance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution. the amount is known. and receipt is expected. If the amount is not known, the legacy is treatrd as a contingent asset. Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the nonnal course of business. net of discounts. VAT and other sales related taxes. 1.5 Resources Expended Costs of generating funds comprise the costs associated with attracting voluntary income. Charitable expenditure comprises those costs Incur by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the harity and include examination fees. All costs are allocated between expenditure categories of the SOFA on a basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated directly, others are absorbed by organisation. Grants awarded are in keeping with the charities charitable objectives. 1.6 Cash and Cash equivalents Cash and cash equivalents include cash in han(L deposits held at call with banks, other short-temi liquid inveslments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 FinaDcial instruments The Charity has ele¢t¢d to apply the provisions of Section I I 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charitys balanc¢ sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offseL with the net atnounts pres¢nt¢d in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simullaneously.
Page 9. SCOULER SUPPORT FUND SCIO NOTES TO THE FIIYAIYC]AL STATEMENTS For the year ended 31 March 2025 2 DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2025 Total 2024 Total Donations and membersblps Others 10.000 i 0.000 i 0,000 i 0,000 I 1,000 11,000 3 RESOURCES EXPENDED Unrestricted Restricted Funds Funds 2025 Total 2024 Total Charitable Aetivities Grants awarded Marketing Admin Fee 7.144 7,144 10,000 25 7,144 7,144 10,025 Governanee Costs Accountant Total Resources Expended 7,144 7.144 10,025 4 GRANTS AWARDED There w¢r¢ 6 awarded to 6 individuals. totalling £7.144.00 S TRUSTEE REMUNERATION & RELATED PARTY TRANsAlONs No Trustees were remunerated in the year No expenses were reimbursed to Trustees in the year No Trustee OT other person related to the charity had any personal interest in any ¢ontrxt or transaction entered into by the charity during the year
Page 10. SCOULER SUPPORT FUND SCIO NOTES TO THE FINANCIAL STATEME For the year ended 31 March 2025 S ANALYSIS OF NET ASSETS BETWEEN FUIYDS General Funds Restrieted Funds Total Funds Intangible fixed Assets Current Assets Current Liabilities 12,856 975 13.831 12,856 975 [3.831 6 MOVEMEIYT IN FUNDS Al Incoming 1st Aprll 24 Resources Outgoing Resourees At 31 March 25 Transfers Restrlcted Funds John Mactaggart Trust 975 975 975 975 Unrestricted Fund8 General Funds Total Unrestri¢ted Fund8 10,000 10.000 i 0,000 10.000 7.144 7,144 12.856 12,856 Total Funds i 0.000 10,000 7,144 13,831 7 PROVISIONS AVAILABLE FOR SMALLER ENTITIES In common with many other businesses of this SI and natur¢ the Trustees use their independent examiner to assist with the preparation of the financial statements.