The Alan Steel Fundatlon Trustees, Report and Financial Statements Registered charfty number: SCO51817 For the period ended 30 June 2024 The Alan Steel Fundation Period to 30 June 2024 Contents Page Legal and administrative inf0m￿tIOn Report of the Trustees Report of the Independent Examiner Statement of financial activilies Balance sheet Notes fom)in8 part of the financial ststements The Alan Steel Fundation Period ended 30 June 2024 Legal and administrative information Charity Name The Alan Steel Fundation Reglstered Charlty Number SC051817 Trustees Reglstered Address Independent Examiner Bankers Hampden & Co 9 Charlotte Square Edinburgh EH2 4DR The Alan Steel Fundation Perlod to 30 June 2024 Trustees, Report The Trustees have pleasure in submitting their annual report and financial statements for the period ended 30 June 2024. Con5titutlon The Trust was constituted the death of Alan Steel by a Deed of Trust dated 27 June 2022 and was granted charitable ststU5 by the OffKe of the Scottish Charity Regulator IOSCRI on 27 June 2022. These financial statements set OLrt the results of the Trust for the period ended 30 June 2024. AppolntmenL Induction, and TrnIn1￿ of Tntstees Trustee5 are appointed and removed by the Board of Trustees in accordance with the Deed of Trust. The Trustees who held office during the year under review are detsiled on page l. Trustees afe selected to provide a breadth of skills. experien￿$ and influence across the main areas of activity of the Trust. Trustees manage the whole affairs of the Trust and are responsible for administering the Trust Fund. They meet as required to achieve this. Objectlves The organi5ation is estsblished for charitable purposes only. and in particular. the objects are: l. To prevent or relieve ￿￿)vertY 2. To advance education 3. To advance health and save lives 4. To advan￿ atizenship and community development 5. To advance arts. heritage. culture and scien 6. To advance public participation in s￿rt 7. To support the provisiov7 of recreational facilities. orthe organisation of ￿creatIonal artivities 8. To advance environmental protection or improvement 9. To provide relief to those in need by reason of age. ill health. disability, financial hardship or other disadvantage 10. To advance animal welfrdre Actlvftles of the Trust The focus of the Trust during the year has been on identifying suitsble beneficiaries who could benefit from a charltsble donation. Results for the peri( The results for the period are set out in the statement of financial activities on page 5 and show net expendlture for the year of £4.252, (2023= net incorne of £24.1981. At 30 June 2024. total funds stood at £19.946.12023= £24.1981- The Trustees confirni that the assets of the Trust disclosed in the Balance Sheet are available to fulfil any of its obligattons and that the financial posttion is satisfactory in view of the Trusys future plans and commitments. The Alan Steel Fundation Period to 30 June 2024 Trustees, Report (¢ontinued) Reserves pollcy Trustees have assessed the requirement for free reserves of the Trust considering the likely future income and expenditure streams. The agreed objective is to retain sufficient free reseNes to meet its obligations and to ensure financial stability. At present, the Trust has no existing grant commitment5 and therefore has no identified minimum reserve requirement. Plans for the future The Trustees will continue to seek to fulfil the Trust's objectNes. The Trustees will consider how best to dvertise the existence of the charitable entity to potential beneficiaries and will consider any applications for financial assistance which are Made. Trustees Responsibllities Statement The Trustees are responsible for preparing the Trustee￿ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the Trustees to prepare financial statements for each financial yearwhich give a true and fairview of the state of affairsof the charity and of the incoming resources and application of resources of the charity forthatyear. In preparing these financial Statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently- ObSe￿e the method and principles in the Charwties SORP 2019 (FRS 1021: make judgements and estimates that are reasonable and pwdent- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the reports and financial statements: prepare the financial Statements on the going concern basis unless it is inappropriate to presume that the Trust will continue its activities. 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 requirement5 of the Charities and Trustee Investment {Scotlandl Act 2CX)5, the Charities Accounts Iscotlandl Regulations 21XJ6 las amended) and the provisions of the trust deed. 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. On behalf of the Trustees 3 February 2025 TTu5tees The Alan Steel Fundatlon Perlod to 30 June 2024 Independent Examinerfs Report to the Trustees ¢)n the V￿YdIted finantial statements I report on the financial statements for the period to 30 June 2024 set out on pages 5 to 9. Respectlve responsibilltles of tTUStee5 and 1Trde￿nt examiner The charity's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment15cottandl Art 2tM)5 and the Charities Accounts (Scotlandl Regulations 2CQ6 las amended). The charity trustees considerthat the audit requirement of Regulation 10111 lal to Icl of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 4411) {cl of the Act and to state whether particular matters have come to my attention. Basls of Independent examlnerfs statement My examination is carried in accordance with Regulation 11 of the 21XE Accounts Regulations (as amended). An examination includes a review of the accounting records kept by the Tmst and a comparison of the financial statements presented with those records. It a150 includes consideration of any unusual items or disclosures in the financièl statements. and seeks explanations from the trustees concerning any such matter5. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently I do not expres5 an audit opinion on the view given by the financial ststements. Independent examinees statsment In the course of my examination. no matter has corne to my attention: which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting record5 in accordance with Section 44(11 lal of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations las amended): and to prepare financial staternents which accord with the accounting records and comply with Regulation 8 of the 2(KJ6 Accounts Regulation5 las amended). have not been met- or to which, in my opinion. attention should be drawn in order to enable a proper understanding of the firkancial statements to be reached. 3 FebNary 2025 MHA 6 St Colme Street Edinburgh EH3 6AD The Alan Steel Fundation Perlod to 30 June 2024 ststement of Financial Activities for the period Ènded 30June 2024 Unrestricted Unre5tri¢ted 2024 2023 Note5 Income from: Donations and legacies 750 49.240 Totsl income 750 49.240 Expenditufe on: Charitable activities 15,0021 125,042) Total expendlture 15.0021 {25,0421 Net lexpendituTr)lincome and net movement in fvnds 14,252) 24,198 Reconciliation of funds- Funds at l July Net lexpenditure}lincome for the year 24.198 14,2521 24,198 Funds at 30 June 19.946 24,198 The Alan Steel Fundatlon Perlod to 30 June 2024 Balance Sheet As at 30June 2024 Notes Total 2024 Total 2023 Current assets Cash at bank 19.946 24.198 19.946 24.198 Uabllltles: Creditors falling due wtthin one year Net Current assets 19.946 24.198 Reserves Unrestricted funds 19.946 24,198 These financial statements were approved and authorised for issue by the Trustees on 3 February 2025 and signed on their behalf by- Chair of Trustees The Alan Steel Fundatlon Period to 30 June 2024 Notes to the Financial Statements For the period ended 30 June 2024 Accounting policies The significant accounting policies applied in the preparation of these financial statements are set out below. These p)licies have been consistentty applied unless othenNise stated. Ba￿5 of accounting The financial statements are prepared on a going concern basis under the historical cost convention with items recognised at cost or transaction values unless otherwise stated in the relevant notes to the financial statements. The financial statements are presented in sterling which is the funrtional currency of the Trust and rounded to the nearest E. The financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts1Scotlandl Regulation5 2C(J6 las amended}, Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to Charities preparing their financial statements in accordance with the Financial Reporting Standard appSitable in the UK and Republic of Ireland IFRS 1021 issued in October 2019. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and UK Generalw Accepted Accounting Practice. The Alan Steel Fundation meets the definIt￿n of a public benefit entty under FRS 102. The Trustees considerthat there are no material uncertainties about the Trusys ability to contir¢ue as a going concern. The Trustees have considered the impact of the current economic environment on the financial position and future perforn)an￿ of the Trust and will continue to ensure donations are given only where there is sufficient income available to do so. The Trustees a￿ satisfied these efforts a sufficient and therefore continue to adopt the going concern basis of accounting in preparing the rinantial statements. Income All income is recognised once the Trust has entitlement to the income. it is probable that the income will be received and the amount of income re￿1vable can be measured reliably. Donations, legacies and similar income resources are included in the year in which they are re￿1¥able. which is when the Trust is entitled to the resource. Expenditure Expenditure is recognised as soon as there is a legal or construrtive obligation committing the Trust to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an attruals basis and has been classified under headin8S that aggregate all costs reLated to the category. Expenditure on charitable activities includes costs incurred in delivery of the Trusvs objectives. It includes both the direct costs of grant making and those c05t5 of an indirect nature necessary to 5UPPOrt them. Grants payable are payments made to third parties in the furtheran￿ of the charitable objects of the Trust. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the award. This nottfication give5 the recipient a reasonable expectation that they will receive the grant. The Alan Steel Fundation Perlod to 30 June 2024 Notes to the Flnanclal Statements Icontlnued) For the period ended 31 June 2024 l. Accountlng polkles {contlnuedl C05h at bank Cash at bank includes cash and highly liquid short tenn investment with a maturity of three months or less from the date of acquisition or opening of the depO￿t or simiL3r account. Credltors Creditor5 are recogni5ed when the Trust ha5 a present oblvdation resultin8 from a past event that will probably result in the transfer of fvnd5 to a third party and the amount due to settle the obligation can be measured reliably. Financialin5truments The chartty only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction walue and subsequently measured at their settlement value. Fundsstrurture The Trust onty unrestricted funds which arethose fundsthat the Tn￿teeS are free to use for any purpose in furtherance of the charitable objectives. Donatlons Unrestricted vn￿strfCted 2024 2023 Donations 750 49,240 Donations represent the value of assets held by the Trust at the time it was 8ranted charitsble status. 3. Cost of charltable actlvltSes Unrestrirted Unrestricted 2024 2023 Charitable donations Support costs: Bank Charges 25.(MX) 42 5,002 25.042 4. Trustee5' remuneratlon No trustee re￿iVed any remuneration or reimbursement of expenses during the year. The Alan Steel Fundatlon Period to 30 June 2024 Notes to the financial Statements (continued) For the perlod ended 30 June 2024 Movement in funds Atlju 2023 At 30 June 2024 Income Expenditure Unrestricted funds: 24.198 750 15,CX)21 19.946 At 27June 2022 At 30June 2023 Income Expenditure Unrestricted funds- 49.240 125,0421 24.198 Analysls of net a55ets between funds Ut)restricted Unrestrirted Funds Funds 2024 2023 Net current a55ets 19,946 24,198 Related parties There were no transactions with related parties in the current or prioryears.